MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
EMA JAPAN CO LTD |
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Registered Office : |
Kazu IT Bldg 905, 2-10-27 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Date of Incorporation : |
Apr 2001 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of diamonds,
jewelry |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 12.8 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
EMA JAPAN CO LTD
REGD NAME
EMA Japan KK
MAIN OFFICE
Kazu IT Bldg 905, 2-10-27 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel : 06-6253-6565
Fax : 06-6253-6566
URL : N/A
ACTIVITIES
Import, wholesale of diamonds, jewelry
BRANCHES
Tokyo
FACTORY(IES)
(Subcontracted)
OFFICERS
TAKANORI KONDO, PRES
Hiroki Tsuchiyama, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,100 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen 9 M
STARTED 2001 EMPLOYES 5
COMMENT
IMPORTER
OF DIAMONDS & JEWELRY.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 12.8 MILLION, 30 DAYS, SECURED TERMS
RECOMMENDED.
HIGHLIGHTS
The subject company was established by EMA, Israel as its
marketing base in Japan. Founded in
2001, but actual operations started in Jan 2005. Imports and wholesales polished diamonds,
other gemstones and jewelry products.
Imports from Israel (EMA) and India.
Stones are partially
subcontracted mfg to local jewelry processors and exported to Israel, Hong
Kong, etc. Clients are jewelry
processors, jewelry stores, wholesalers, other.
FINANCIAL INFORMATION
The firm does not disclose full financials, except for the 31/12/2003 fiscal term, and only partial figures are available.
The sales
volume for Dec/2005 fiscal term amounted to Yen 1,000 million, a 5% up from Yen
950 million in the previous term.
Business started in Jan 2005.
The net profit was posted at Yen 13 million, up from Yen 10 million a
year ago.
Note: For the 31/12/2003 fiscal term, the firm reported total assets Yen 151 million, current assets Yen 149 million, fixed assets Yen 2 million, net worth Yen (-) 13 million, retained earnings Yen (-) 38 million.
For the term ended Dec 2006 the net profit is believed posted at
Yen 15 million, on an estimated 10% rise in turnover, to Yen 1,100
million. Final results will be made
available Apr onwards. The net worth is
reportedly Yen 9 million.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
Max credit limit is estimated at Yen 12.8 million, on 30 days terms, we
recommending fully guaranteed terms.
Net worth is reportedly short of the paid-in capital of Yen 20
million.
REGISTRATION
Date Registered: Apr
2001
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 1,600
shares
Issued: 400
shares
Sum: Yen
20 million
Major shareholders (%): EMA (Israel) (majority owned), Takanori
Kondo, Hiroki Tsuchiyama (--breakdown unavailable)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales polished diamonds,
other gemstones, and jewelry products (--100%).
Imports diamonds and other gemstones from EMA (Israel),
India, etc;
Stones are subcontracted mfg into jewelry products with the
local jewelry processors and exported to Israel, Hong Kong, other.
Clients: Jewelry processors, jewelry stores, wholesalers,
other. Also exports to Israel, Hong
Kong, etc.
No. of accounts: 50
Domestic areas of activities: Centered in greater-Osaka
Suppliers: [Mfrs, wholesalers] Imports from EMA (Israel),
India, other.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Resona Bank (Midosuji)
MUFG (Ueno-Chuo)
Relations: Satisfactory.
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2006 |
31/12/2005 |
31/12/2004 |
31/12/2003 |
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Annual
Sales |
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1,100 |
1,000 |
0 |
0 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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12 |
10 |
0 |
-2 |
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Total
Assets |
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N/A |
N/A |
151 |
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Net
Worth |
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9 |
-3 |
-13 |
-13 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
10.00 |
0.00 |
0.00 |
-100.00 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
-8.61 |
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N.Profit/Sales |
1.09 |
1.00 |
0.00 |
0.00 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/12/2006 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%)