MIRA
INFORM REPORT
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Report Date : |
14th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL DIAMOND CO LTD |
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Registered Office : |
Ohmiya Bldg 2F,
5-13-9 Ueno Taitoku Tokyo 110-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.05.2007
(Estimated) |
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Date of Incorporation : |
Mar
1998 |
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Legal Form : |
Private
Limited Company (Yugen Kaisha) |
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Line of Business : |
Import
and wholesale of diamonds. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
ROYAL DIAMOND CO LTD
REGD NAME
Royal
Diamond YK
MAIN OFFICE
Ohmiya
Bldg 2F, 5-13-9 Ueno Taitoku Tokyo 110-0005
JAPAN
Tel :
03-3839-6005
Fax :
03-3839-2237
URL : N/A
ACTIVITIES
Import,
wholesale of diamonds
BRANCHES
Osaka,
Kofu
FACTORY(IES)
(subcontracted)
OFFICERS
NAVNIT
MEHTA, PRES
Shah M
Davesh, s/mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,400 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
27 M
STARTED 1998 EMPLOYES 20
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN
DIAMONDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Navnit Mehta,
a resident Indian businessman, in order to utilize his business networks in the
subject line of business. This is a
trading firm specializing in importing and wholesaling polished diamonds and
other gem stones. Goods are supplied
steadily from Sanghavi Exports, India and its group firms. ( Sanghavi has its
sales office of jewelry products in Tokyo, sharing the office space with the
subject). Other than India, import sources include Hong Kong, Thailand,
Belgium, Korea, etc. Operates two
branches: Osaka & Kofu. Kofu Branch
handles jewelry processors as clients.
Domestic clients are major jewelry processors, jewelers, etc,
nationwide.
FINANCIAL INFORMATION
The subject firm does not disclose financials and the following figures have been verbally collected from the treasurer.
The sales volume for May/2006 fiscal term amounted to Yen 1,400 million, a similar amount in the previous term. The net profit remained similar at Yen 5 million.
For the current term ending Jun 2007 the net
profit is projected at Yen 5 million, on a 7% rise in turnover, to Yen 1,500
million. Weaker Yen will help raise
sales in Yen terms.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 17.6
million, on 30 days normal terms.
REGISTRATION
Date
Registered : Mar 1998
Legal
Status : Private Limited
Company (Yugen Kaisha)
Regd
Capital : Yen 10 million
Major shareholders (%) : Navnit Mehta (50), Shah M Davesh (50)
No. of shareholders : 2
Nothing detrimental is known as to the
commercial morality of executives.
OPERATION
Activities:
Imports and wholesales polished diamonds, other gemstones (--100%).
Goods are
imported from Sanghavi Exports, India, and its group firms centrally.
Clients
[Jewelry
processors, Jewelers] Kyocera Corp, Nagahori Corp, Gosho Jewel, other.
No. of
accounts: 200
Domestic
areas of activities: Centered in greater-Tokyo, extending into Osaka region
Suppliers
[Mfrs, wholesalers] Imports centrally from
Sanghavi Exports Pvt Ltd (India) and group firms in Thailand, Hong Kong,
Belgium, USA, Korea, etc.
Payment
record: Regular
Location
Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
SMBC
(Asakusa)
Asahi
Shinkin Bank (H/O)
Relations:
Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
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31/05/2007 |
31/05/2006 |
31/05/2005 |
31/05/2004 |
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Annual Sales |
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1,500
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1,400
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1,400
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1,400
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Recur. Profit |
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.. |
.. |
.. |
.. |
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Net Profit |
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5 |
5 |
5 |
5 |
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Total Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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27 |
22 |
17 |
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Capital, Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
7.14 |
0.00 |
0.00 |
1,547.06
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
0.33 |
0.36 |
0.36 |
0.36 |
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Note: Financials are not openly disclosed, and these figures have been verbally collected from the treasurer.
Forecast (or estimated) for the 31/05/2007 fiscal term.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)