MIRA
INFORM REPORT
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Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
IMAYO & CO LTD |
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Registered Office : |
218 Okuracho Takeyamachi-Agaru Karasumadori Nakagyoku Kyoto 604-0861 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2007 |
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Date of Incorporation : |
May 1966 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Diamond, Other Gemstones,
Jewelry Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
IMAYO & CO LTD
REGD NAME: KK Imayo
MAIN OFFICE: 218 Okuracho
Takeyamachi-Agaru Karasumadori Nakagyoku Kyoto 604-0861 JAPAN
Tel:
075-211-5141 Fax: 075-211-3626
E-Mail address: www@imayo.co.jp
ACTIVITIES
Import, export, wholesale of diamond, other gemstones,
jewelry products
BRANCHES
Tokyo
OVERSEAS
TNT Trading (HK) Ltd; Imayo (Singapore) Pte Ltd; Imayo
(Malaysia) Sdn Bhd;
Thai Imayo Co Ltd (--subsidiaries)
FACTORY(IES)
Kyoto, Osaka (subsidiaries)
OFFICER(S)
NOBUHIRO IMANISHI, PRES
Yoshihiro Imanishi, mgn dir
Takahiro Imanishi, dir
Nobutaka Imanishi, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,455 M
PAYMENTS REGULAR CAPITAL Yen 96 M
TREND STEADY WORTH Yen 1,476 M
STARTED 1966 EMPLOYES 59
COMMENT
TRADING HOUSE SPECIALIZING IN JEWELRY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established originally in 1861 when Yohei Imanishi started a busi-ness in jewelry trading, on his account. Imayo is named after the founder. Incorporated in 1966, the firm has been succeeded by his descendants. Nobuhiro is the 5th generation master, who took the office of presidency in July 1982. This is a trading firm, solely owned and operated by the Imanishi family, specializing in importing, exporting and wholesaling diamonds, emeralds, sapphire, colored stones,also handling earrings, fingerings, broaches, necklaces, pendants, other jewelry products. Goods are imported from Italy, Belgium, India, Israel, Hong Kong, Thailand, etc. Owns 5 subsidiaries, of which two in jewelry processing, one in retailing.
FINANCIAL INFORMATION
The sales volume for Apr/2007 fiscal term amounted to Yen 3,455 million, a 6% down from Yen 3,673 million in the previous term. This is referred to sluggish consumer spending on luxuries. The recurring profit was posted at Yen 9 million and the net profit at Yen 35 million, respectively, compared with Yen 21 million recurring profit and Yen 13 million net profit, respectively, a year ago. The improved net profit is said including extraordinary income from the disposal of fixed assets.
For the current term ending Apr 2008 the net profit is projected at Yen 15 million, on a 4% rise in turnover, to Yen 3,600 million.
REGISTRATION
Date Registered: May 1966
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 768,000
shares
Issued: 192,000
shares
Sum: Yen
96 million
Major shareholders (%)
Nobuhiro Imanishi (29), Yoshihiro Imanishi (13), Takahiro
Imanishi (11), Nobutaka Imanishi (10)
No. of shareholders
20
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales diamonds,
emeralds, sapphires, pearls, colored stones,
others (--60%), fingerings, earrings, broaches, pendants, necklaces, bracelets,
other jewelry
products (--40%).
Jewelry mfg & processing is done by two subsidiary
makers; retailing is KK Diamond House (a subsidiary
company).
Imports (80%)
Clients
[Jewelry processors, jewelry stores] Citizen Trading, Isetan, Shinyuu Trading, Jewel Hama, JR West Japan, Kashikei, Kyouhou, We Can Co, other.
No. of accounts
2,000
Domestic areas of activities
Nationwide
Suppliers
[Mfr, wholesalers] Imports from Israel, India, Hong Kong, Belgium, Thailand, Italy,Malaysia, other.
Also supplied from We Can co, Oriental Diamond, Sojitz Jewelry, Shinyuu Trading, KF, Takaya Gem, other.
Payment record
Regular
Location
Business area in Kyoto. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
SMBC (Kyoto)
Mizuho Bank (Kyoto)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
30/04/2008 |
30/04/2007 |
30/04/2006 |
30/04/2005 |
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Annual
Sales |
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3,600 |
3,455 |
3,673 |
3,629 |
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Recur.
Profit |
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9 |
21 |
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Net
Profit |
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15 |
35 |
13 |
11 |
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Total
Assets |
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3,194 |
3,345 |
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Current
Assets |
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2,491 |
2,628 |
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Current
Liabs |
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1,316 |
1,229 |
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Net
Worth |
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1,476 |
1,448 |
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Capital,
Paid-Up |
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96 |
96 |
96 |
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Div.P.Share(¥) |
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25.00 |
25.00 |
25.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.20 |
-5.94 |
1.21 |
11.39 |
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Current Ratio |
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.. |
189.29 |
213.83 |
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N.Worth Ratio |
.. |
46.21 |
43.29 |
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R.Profit/Sales |
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.. |
0.26 |
0.57 |
.. |
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N.Profit/Sales |
0.42 |
1.01 |
0.35 |
0.30 |
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Return On Equity |
.. |
2.37 |
0.90 |
.. |
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Notes: Forecast (or estimated) figures for the 30/04/2008
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%)