MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
V N TRADING CO LTD |
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Registered Office : |
Wing Kukawa Mansion 306, 4-8-23 Kamiishida Kofu Yamanashi-Pref
400-0041 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1995 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Import, Wholesale of Diamonds, Other Precious Stones |
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
V N TRADING CO LTD
REGD NAME: V N Trading YK
MAIN OFFICE: Wing Kukawa Mansion
306, 4-8-23 Kamiishida Kofu Yamanashi-Pref 400-0041 JAPAN
Tel:
055-223-0558 Fax: 055-223-0559
URL: N/A
ACTIVITIES
Import, wholesale of diamonds, other precious stones
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
NITIN KHINDUKA, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 707 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 29 M
STARTED 1995 EMPLOYES 4
COMMENT
IMPORTER & WHOLESALER OF DIAMONDS AND OTHER PRECIOUS
STONES.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Nitin Khinduka, an Indian resident, in order to make most of his experience in the subject line of business. This is a trader for import and wholesale of diamonds and other precious stones. Stones are imported centrally from India, Hong Kong, other. Goods are partially subcontracted mfg to local processors into precious stone-bedded jewelry products. Clients are jewelry mfrs, processors, jewelry stores, other.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Mar/2007 fiscal term amounted to Yen 707 million, a 41% up from Yen 503 million in the previous term. This is attributed to the expanded sales network including one major jewelry stores. Price hikes in jewelry also assisted. The net profit was posted at Yen 1 million.
For the term just ended Mar 2008 the net profit was projected at Yen 1 million, on a slight rise in turnover, to Yen 710 million. Higher Yen could have reduced sales turnover in Yen terms.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 12.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 1995
Legal Status: Private Limited Company (Yugen Gaisha)
Regd Capital: Yen 20 million
Major shareholders (%): N Khinduka (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports diamonds and other precious stones (100%).
Stones are imported centrally from India, other from Hong Kong, etc.
They are partially subcontracted to local jewelry processors into jewelry products.
Clients
[Jewelry processors, jewelry stores] Sakamoto Kikinzoku, Kondo Jewelry, Kadhikey Co, Imayo & Co, Grace Okada Co, other
No. of accounts
300
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Vipin Kumar, KHI, KTC & Co (--India), Kumang Trading (Hong Kong), other.
Payment record
Regular
Location
Business area in Kofu City, Yamanashi-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Mizuho Bank (Kofu)
Relations: Satisfactory
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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710 |
707 |
503 |
400 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
0 |
0 |
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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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29 |
28 |
28 |
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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 |
0.42 |
40.56 |
25.75 |
42.86 |
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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 |
0.14 |
0.14 |
0.00 |
0.00 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 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%)