MIRA
INFORM REPORT
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Report Date : |
05.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASSORTED DIAMONDS CO LTD |
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Registered Office : |
Green Bldg 201, 3-41-8 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1992 |
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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 : |
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 & address
ASSORTED DIAMONDS CO LTD
REGD NAME: YK Assorted Diamonds
MAIN OFFICE: Green Bldg 201,
3-41-8 Taito Taitoku Tokyo 110-0016 JAPAN
Tel:
03-5812-5666 Fax: 03-5812-5667
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
SAILESH DOSHI, PRES (Indian resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 386 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen 3 M
STARTED 1992 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED
DIAMONDS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Sailesh Doshi, Indian resident businessman, in order to make most of his experience in the jewelry business. This is a trading firm specializing in importing and wholesaling polished, loose diamonds and other precious stones, including jewelry products. Goods are imported from India, Israel, USA, Thailand, other. Diamonds are partially subcontracted mfg to local processors into jewelry products. Clients are local jewelry processors, jewelry stores, etc, centering in greater-Tokyo region.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen 386 million, a 29% sharp drop from Yen 540 million in the previous term. Demand dropped with some clients reportedly substantially reducing purchasing volumes. The operations dipped into the red to post Yen 3 million net losses for the term. This compares with Yen 1 million net profit a year ago.
For the term just ended the operations were projected to come back to profitability to post Yen 1 million net profit on a 4% rise in turnover, to Yen 400 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 5.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1992
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital: Yen 3 million
Major shareholders (%)
Sailesh Doshi (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished, loose diamonds and jewelry products (--100%).
Goods are imported from India, Thailand, Israel, USA, other.
Diamonds are partially subcontracted mfg to local jewelry processors into products.
Clients
Jewelry processors, jewelry stores, other
No. of accounts
Unavailable
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from India, USA, Israel, Thailand, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Tamagawa)
Relations: Money deposits & transfers only
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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400 |
386 |
540 |
529 |
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Recur.
Profit |
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Net
Profit |
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1 |
-3 |
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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3 |
6 |
7 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
3.63 |
-28.52 |
2.08 |
-13.28 |
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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 |
0.25 |
-0.78 |
0.19 |
0.19 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 fiscal
term.
s
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%)