MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MODI IMPEX CO LTD |
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Registered Office : |
Taito Mansion 703, 4-5-5 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
July 2004 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Imports and Wholesales of Polished Diamonds Centrally From
India (100%). |
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/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
MODI IMPEX CO LTD
REGD NAME: KK Modi Impex
MAIN OFFICE
Taito Mansion 703, 4-5-5 Taito Taitoku Tokyo 110-0016 JAPAN
Tel : 03-3833-5505
Fax : 03-3833-5505
ACTIVITIES
Import, wholesale of diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
JAIN PANKAG, PRES (Indian resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 350 M
PAYMENTS REGULAR CAPITAL Yen 13 M
TREND STEADY WORTH Yen 28 M
STARTED 2004 EMPLOYES 3
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS FROM INDIA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Jain Pankag in order
to make most of his experience in the subject line of business This is a trading firm specializing in
import, export and wholesale of diamonds
and jewelry products. Diamonds are
imported from India centrally and subcontracted mfg to local processors. Clients are local jewelry stores,
processors, chain stores, other.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jun/2006 fiscal term amounted to Yen
350 million, a 75% sharp rise from Yen 200 million in the previous term. Business expanded with clients networks
increased. The net profit was posted at Yen 10 million, up from Yen 5 million a
year ago.
For the term just ended Jun 2007 the net profit is believed posted at Yen 10 million, on a 6% rise
in turnover, to Yen 370 million.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
Max credit limit is estimated at Yen 5.5 million, on 30 days normal
terms.
REGISTRATION
Date Registered : Jul
2004
Legal Status :
Limited Company (Kabushiki Kaisha)
Authorized :
800 shares
Issued :
260 shares
Sum :
Yen 13 million
Major shareholders (%)
Modi Pankag (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities :
Imports and wholesales polished diamonds centrally from India (100%).
Clients :
Jewelry stores, jewelry processors, other.
No. of accounts :
100
Domestic areas of activities :
centered in greater-Tokyo
Suppliers :
[Mfrs, wholesalers] Imports from India centrally.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Asahi Shinkin Bank (Nishimachi)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
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30/06/2007 |
30/06/2006 |
30/06/2005 |
30/06/2004 |
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Annual Sales |
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370 |
350 |
200 |
150 |
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Recur. Profit |
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.. |
.. |
.. |
.. |
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Net Profit |
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10 |
10 |
5 |
3 |
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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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28 |
23 |
18 |
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Capital, Paid-Up |
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13 |
13 |
13 |
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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 |
5.71 |
75.00
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33.33
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76.47
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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 |
2.70 |
2.86 |
2.50 |
2.00 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 30/06/2007 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%)