MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
JEWELEX JAPAN LTD |
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Registered Office : |
Miyachi Bldg Honkan 3F, 4-30-8 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Date of Incorporation : |
January 1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, Wholesale of Polished Diamonds and Jewelry |
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 : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
JEWELEX JAPAN LTD
REGD NAME: Jewelex Japan YK
MAIN OFFICE: Miyachi Bldg Honkan
3F, 4-30-8 Taito Taitoku Tokyo 110-0016 JAPAN
Tel:
03-3839-2322 Fax: 03-3839-2320
URL: N/A
ACTIVITIES
Import, wholesale of polished diamonds & jewelry
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
H M PANDYA, PRES (Indian resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 500 M*
PAYMENTS REGULAR CAPITAL Yen 125 M
TREND STEADY WORTH Yen 140 M
STARTED 1988 EMPLOYES 3
*
Verbally given from the owner but not verified by third parties.
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
WE RECOMMENDING SECURED TERMS ON NEW TRANSACTIONS AS FINANCIALS ARE ONLY PROFESSED BY THE OWNER AND NOT VERIFIED.
HIGHLIGHTS
The subject company was established by H M Pandya, an Indian businessman residing in Japan for many years, in order to make most of his experience in the jewelry business. Originally titled as Dia Star YK and renamed as captioned in Apr 2004. Specializes in import and wholesale of polished diamonds centrally, including semi-finished & finished jewelry. Stones include artificial ones. Goods are imported from group firms in India centrally.
FINANCIAL INFORMATION
Financials are not disclosed, except verbally. The transactions amount to about Yen 5,000 million annually and 10% is earned as commissions. The owner says financials are only disclosed to direct parties on special request only.
The sales volume for Dec/2007 fiscal term amounted to Yen 500 million, an almost similar amount in the previous term. The net profit is believed at around Yen 5 million.
For the cu term ending Dec 2008 the net profit is projected at Yen 5 million, on a similar turnover, at Yen 500 million. No further details are available
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 8.8 million, on 30 days normal terms. We, however, recommend secured terms on new transactions as financials are not verified by third parties.
REGISTRATION
Date Registered: Jan 1988
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital: Yen 125 million
Major shareholders (%)
H M PANDYA (100%)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished diamonds (including semi-finished & finished jewelry products) (--100%)
Goods are imported from group firms in India centrally.
Clients
Local jewelry processors, jewelers, other.
No. of accounts
50
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Dia Star group, India, De beers (Israel), other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
ABN Amro Bank (Tokyo)
MUFG (Asakusa)
Relations: Satisfactory
FINANCES: (In Million Yen)
NOT MADE AVAILABLE
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%)