MIRA
INFORM REPORT
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Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
A B DIAMOND, YK |
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Registered Office : |
3-5-30 Kokubo Kofu 400-0043 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
September 1999 |
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Legal Form : |
Private Limited Company (Yugen Kaisha) |
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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 : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
A B DIAMOND, YK
REGD NAME: YK A. B. Diamond
MAIN OFFICE: 3-5-30 Kokubo Kofu 400-0043 JAPAN
Tel:
055-224-2448 Fax: 055-224-2449
URL: N/A
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
ASHISH CHOUDHARI, PRES (Indian resident)
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 340 M
PAYMENTS REGULAR CAPITAL Yen 9 M
TREND STEADY WORTH Yen 18 M
STARTED 1999 EMPLOYES 3
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 reactivated in May 2002 by Ashish Choudhari on the basis of taking over a firm, Shubham International Ltd, in the similar line of importing polished diamonds, founded in Sept 1999 by an Indian businessman. Specializes in importing and wholesaling polished diamonds from India centrally, and partially from Hong Kong and Thailand. A resident of Japan, A Choudhari speaks fluent Japanese with good business contacts in Kofu City, hub of jewelry processors and stores, and in greater-Tokyo area. Diamonds and other precious stones are partially subcontracted mfg into jewelry products to local processors. About half of the clients are in Tokyo area.
FINANCIAL INFORMATION
Financials are only partially disclosed in rounded-off figures.
The sales volume for Dec/2007 fiscal term amounted to Yen 340 million, a sharp 24% decline from Yen 450 million in the previous term. Business was slack due to lower consumer spending. Price hikes also hindered the sales growth. The net profit was posted at Yen 1 million, compared with Yen 2 million a year ago
For the current term ending Dec 2008 the net profit is projected at Yen 1 million, on a 3% rise in turnover, to Yen 350 million. Business is seen slowly recovering.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
REGISTRATION
Date Registered: Sept 1999
Legal Status: Private Limited Company (Yugen Kaisha)
Regd Capital: Yen 9 million
Major shareholders (%)
Ashish Choudhari (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished diamonds, other precious stones (--100%). Goods are imported from India centrally, and partially from Hong Kong & Thailand. Goods are also subcontracted mfg to local jewelry processors into products.
Clients
[Jewelry processors, jewelry stores, chain stores] Clients in Kofu area (50%), in Tokyo region (50%).
No. of accounts: 200
Domestic areas of activities: Centered in Kofu City and greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from India (about 80%), other from Hong Kong and Thailand.
Payment record
Regular
Location
Business area in Kofu City. Office premises at the caption address are owned by A Choudhari as his private residence, shared as office, and maintained satisfactorily.
Bank References
Kofu Shinkin Bank (Ishida)
Mizuho Bank (Kofu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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350 |
340 |
450 |
500 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
2 |
4 |
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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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18 |
17 |
15 |
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Capital,
Paid-Up |
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9 |
9 |
9 |
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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 |
2.94 |
-24.44 |
-10.00 |
2.04 |
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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 |
0.29 |
0.29 |
0.44 |
0.80 |
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Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 31/12/2008 fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.49 |
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UK Pound |
1 |
Rs.84.21 |
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Euro |
1 |
Rs.66.33 |
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%)