MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHRI GEMS LTD |
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Registered Office : |
Bian
Okachimachi Bldg 305, 3-17-9 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Date of Incorporation : |
Apr 1999 |
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Legal Form : |
Private Limited
Company (Yugen Gaisha) |
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Line of Business : |
Import, wholesale
of polished diamonds, jewelry products |
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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Maximum Credit Limit : |
Yen 8
millions |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
name
SHRI GEMS LTD
REGD NAME
YK Shri Gems
MAIN OFFICE
Bian Okachimachi Bldg 305, 3-17-9
Taito Taitoku Tokyo 110-0016 JAPAN
Tel : 03-3839-5991
Fax : 03-3839-59992
URL : N/A
ACTIVITIES
Import, wholesale of
polished diamonds, jewelry products
BRANCHES
Nil
FACTORY(IES)
(Subcontracted)
OFFICERS
SHRIKANT SHAM, PRES
(Indian resident)
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 500 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen
39 M
STARTED 1999 EMPLOYES 5
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN POLISHED DIAMONDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN
8 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by
Shrikant Shah, Indian resident businessman, in order to make most of his
experience in the subject line of business, utilizing his business networks in
India. This is a trading firm
specializing in import and wholesale of polished, precut diamonds from India
exclusively. Also handles diamond
jewelry. Diamonds are partially subcontracted mfg to
local jewelry processors into jewelry products. Clients are local jewelry processors, jewelry stores, other.
FINANCIAL INFORMATION
The subject firm does not release its financial details and the following figures have been provided from outside sources.
The sales volume for Dec/2006 fiscal term amounted to Yen 500 million, an 11% up from Yen 450 million in the previous term. Client’s networks expanded. Weaker Yen helped to uplift sales amount in Yen terms, too. The net profit was posted at Yen 11 million, up from Yen 10 million a year ago.
For the current term ending Dec 2007 the net profit is projected at Yen 550 million, on a 10% rise in turnover, to Yen 550 million. Business continues on the upswing.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 8 million, on 30 days normal terms.
REGISTRATION
Date Registered : Apr 1999
Legal Status : Private Limited Company
(Yugen Gaisha)
Regd Capital : Yen 3 million
Major shareholders (%) : Shrikant Shah (100)
Nothing detrimental
is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished, precut diamonds, and jewelry products, all from India (--100%).
Stones are partially
subcontracted mfg to local processors into jewelry products.
Clients: Jewelry
processors, jewelry wholesalers, jewelry stores, other.
No. of accounts: 100
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports from India exclusively.
Payment record:
Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Asahi Shinkin Bank
(Ueno)
Relations:
Satisfactory.
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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550 |
500 |
450 |
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Recur.
Profit |
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.. |
.. |
.. |
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Net
Profit |
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12 |
11 |
10 |
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Total
Assets |
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N/A |
N/A |
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Net
Worth |
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40 |
29 |
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Capital,
Paid-Up |
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3 |
3 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
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S.Growth Rate |
10.00
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11.11
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12.50
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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 |
2.18 |
2.20 |
2.22 |
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Note: Financials are
not disclosed and the above figures have been provided from outside sources.
Forecast (or
estimated) for the 31/12/2007 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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