MIRA
INFORM REPORT
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Report Date : |
14.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
RHYTHM STROKE CO LTD |
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Registered Office : |
Tanaka Bldg 2F, 3-3-30 Satoyoshi Kofu
Yamanashi-Pref 400-0822 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
September, 1994 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of diamonds,
jewelry products |
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
RHYTHM STROKE CO
LTD
REGD NAME
KK Rhythm Stroke
MAIN OFFICE
Tanaka Bldg 2F, 3-3-30 Satoyoshi Kofu Yamanashi-Pref 400-0822 JAPAN
Tel: 055-227-6355 Fax:
055-227-6365
URL: N/A
ACTIVITIES
Import, wholesale of diamonds, jewelry products
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
`
OFFICER(S)
NOBUKI SAITOH, PRES
Tadashi Takagi, dir
Kazuya Watanabe, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 660 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND UP WORTH Yen 21 M
STARTED 1994 EMPLOYES 2
COMMENT
IMPORTER AND WHOLESALER
SPECIALIZING IN POLISHED DIAMONDS & JEWELRY PRODUCTS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The
subject company was established by Nobuki Saitoh in order to make most of his experience
in the subject line of business. This
is a trading house for import and wholesale of polished diamonds and other
gemstones, also jewelry products. Goods
are imported from India, Belgium, Thailand, etc. Handles medium-quality jewelry to expand markets to young
people. .
FINANCIAL INFORMATION
Financials are only partially
disclosed.
The sales volume for Aug/2007 fiscal term amounted to Yen
660 million, a 30% down from Yen 936 million in the previous term. Last year had one-off large-lot orders from
volume-discount chain stores. It was
gone this term. The net profit was
posted at Yen 1 million, compared with Yen 5 million a year ago.
For the current term ending Aug
2008 the net profit is projected at Yen 1 million, on a similar turnover, at
Yen 670 million. Consumer demand is
slow to recover.
The financial situation is
considered RATHER WEAK but should be good for MODERATE business
engagements.
REGISTRATION
Date
Registered: Sept 1994
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 800
shares
Issued:
200 shares
Sum: Yen 10 million
Major shareholders (%): Nobuki Saitoh (100)
Nothing detrimental is knows as
to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales polished,
precut diamonds and other precious stones, jewelry products, others
(--100%).
Goods are imported from India,
Belgium, Thailand, etc.
Clients
Local jewelry processors,
jewelry stores, wholesalers, other
No. of
accounts: 300
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from India, Thailand, Belgium,
other.
Payment
record: Regular
Location: Business area in Kofu City. Office premises at the caption address are leased
and maintained satisfactorily.
Bank References
State Bank of India (Tokyo)
Yamanashi Shinkin Bank (H/O)
Relations: Satisfactory
FINANCES (in Million Yen)
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Terms Ending: |
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31/08/2008 |
31/08/2007 |
31/08/2006 |
31/08/2005 |
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Annual
Sales |
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670 |
660 |
936 |
600 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
5 |
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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21 |
20 |
15 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
1.52 |
-29.49 |
56.00 |
114.29 |
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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 |
0.15 |
0.15 |
0.53 |
0.17 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/08/2008 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.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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%)