MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
STAR DIAMOND CO LTD |
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Registered Office : |
Ryutsu
Honten Bldg 201, 5-22-4 Ueno Taitoku Tokyo 110-0005 |
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Country : |
Japan |
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Date of Incorporation : |
Feb 2000 |
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Legal Form : |
Private Limited
Company (Yugen Gaisha) |
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Line of Business : |
Import, wholesale
of polished 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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Maximum Credit Limit : |
Yen
6.5 millions |
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Status : |
Fair |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
name
STAR DIAMOND CO LTD
REGD NAME
Star Diamond YK
MAIN OFFICE
Ryutsu Honten Bldg 201, 5-22-4
Ueno Taitoku Tokyo 110-0005 JAPAN
Tel : 03-3832-5075
Fax : 03-3832-5086
URL : N/A
ACTIVITIES
Import, wholesale of
polished diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
PATEL CHANDRAKANT,
PRES (Indian resident)
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 420 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen
30 M
STARTED 2000 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX CREDIT LIMIT: YEN
6.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established by Patel Chandrakant, an Indian businessman residing in Japan, in order to import and market polished diamonds and other gem stones in Japan. 90% of the goods are imported from India and the rest from Belgium, etc. The firm employs 5 sales staff, including three Indians. Diamonds are partially processed into jewelry products on consignment to local jewelry processors.
FINANCIAL INFORMATION
The subject does not disclose financials and the following figures have been verbally obtained from Patel Chandrakant. No are reported from outside sources, either.
The sales volume for Jan/2006 fiscal term amounted to Yen 420 million, a 5% UP from Yen 400 million in the previous term. Consumer spending recovered. The net profit was posted at Yen 5 million, up from Yen 4 million a year ago.
For the term just ended Jan 2007 the net profit was projected and believed posted at Yen 5 million, on a 5% rise in turnover, to Yen 440 million. Weaker Yen against foreign currencies should have contributed to sales growth in Yen terms. Also consumer spending is seen picking up.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 6.5 million, on 30 days normal terms. We recommend, however, fully secured terms on new transactions. This is because the financials have been verbally obtained from Patel Chandrakant, with no outside date to verify the figures.
REGISTRATION
Date Registered : Feb 2000
Legal Status : Private Limited Company
(Yugen Gaisha)
Regd Capital : 10 million
Major shareholders
(%) : Patel Chandrakant (100)
Nothing detrimental
is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished
diamonds, other gem stones (--100%). 90% of the goods are
imported from India and rest from Belgium.
Clients: Jewelry processors, jewelry stores, chain stores, other (Details not disclosed)
No. of accounts: 100
Domestic areas of
activities: Centered in greater-Tokyo.
Suppliers: [Mfrs,
wholesalers] 90% imported from India and 10% from Belgium, etc.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
State Bank of India
(Tokyo)
Asahi Shinkin Bank
(H/O)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms
Ending: |
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31/01/2007 |
31/01/2006 |
31/01/2005 |
31/01/2004 |
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Annual
Sales |
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440 |
420 |
400 |
410 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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5 |
5 |
4 |
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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30 |
25 |
21 |
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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 |
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<Analytical
Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.76 |
5.00 |
-2.44
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2.50 |
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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 |
1.14 |
1.19 |
1.00 |
1.22 |
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Notes: Financials are not disclosed and the above figures have been obtained from Patel Chandrakant. No outside sources’ data available.
Forecast (or
estimated) figures for the 31/01/2007 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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