MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FINE DIAMOND CO LTD |
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Registered Office : |
Babel House, 2-30-40 Kamiishida Kofu City Yamanashi-Pref 400-0041 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
Aug 1999 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of polished
diamonds, other gem stones, jewelry products |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
name
FINE DIAMOND CO LTD
REGD NAME
KK Fine Diamond
MAIN OFFICE
Babel House, 2-30-40 Kamiishida Kofu City Yamanashi-Pref 400-0041 JAPAN
Tel : 055-228-0540
Fax : 055-228-0540
URL : N/A
ACTIVITIES
Import, wholesale of polished diamonds, other gem stones,
jewelry products
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
SANJAY BABEL, PRES (Indian resident)
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 60 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 17 M
STARTED 1999 EMPLOYES 1
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS &
JEWELRY. FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Sanjay Babel, an Indian
businessman, in order to make most of his experience in the subject line of
business, utilizing his business networks both in India and Japan. This is a one-man operated trading firm
specializing in import and wholesale
of polished diamonds centrally, other gem stones and jewelry products. Stones are partially subcontracted mfg to
local jewelry processors. Clients are
local jewelry stores, processors, etc,
extending into greater-Tokyo region.
Financials are only partially disclosed.
FINANCIAL INFORMATION
The sales volume for Jun 2007 fiscal term amounted to Yen 60
million, a similar amount in the previous term. The net profit remained unchanged at Yen 1 million. The firm declined to disclose detailed
financials.
For the current term ending Jun 2008 the net profit is
projected at Yen 1 million, on a 5% rise in turnover, to Yen 63 million. Weaker Yen against foreign currencies will
assist to uplift sales in Yen terms.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
This is because financials are not disclose and only obtained from
outside sources.
REGISTRATION
Date Registered: Aug
1999
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued: 200
shares
Sum: Yen
10 million
Major shareholders (%): Sanjay
Babel (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished diamonds, other gem
stones, jewelry products (--100%).
Stones are imported from India centrally.
Stones are also subcontracted mfg into jewelry products at
local jewelry processors.
Clients: [Jewelry processors, jewelers] Yamada, other.
No. of accounts: 50
Domestic areas of activities: Centered in Yamanashi-Pref,
extending into Tokyo area.
Suppliers: [Mfrs, wholesalers] Imports from India centrally.
Payment record: Regular
Location: Business area in Kofu City. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Kofu)
Relations: Money deposits & transfers only.
FINANCES
(In Million Yen)
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Terms Ending: |
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30/06/2008 |
30/06/2007 |
30/06/2006 |
30/06/2005 |
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Annual
Sales |
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63 |
60 |
60 |
60 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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1 |
1 |
1 |
1 |
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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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17 |
16 |
15 |
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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 |
5.00 |
0.00 |
0.00 |
1.69 |
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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 |
1.59 |
1.67 |
1.67 |
1.67 |
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Financials are only partially disclosed.
Forecast (or estimated) for the 30/06/2008 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. |
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%)