MIRA
INFORM REPORT
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Report Date : |
05.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
STYLE PEARL GEM LTD |
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Registered Office : |
Ohtsuya Bldg 2F, 1-20-3 Higashiueno Taitoku Tokyo 110-0015 |
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Country : |
Japan |
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Date of Incorporation : |
December 1975 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Import, wholesale of polished diamonds, pearls, other gem
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 |
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Litigation : |
Clear |
COMPANY NAME &
ADDRESS
STYLE PEARL GEM LTD
REGD NAME: YK Style Pearl Gem
MAIN OFFICE: Ohtsuya Bldg 2F,
1-20-3 Higashiueno Taitoku Tokyo 110-0015 JAPAN*
Tel: 03-3837-5479
Fax: 03-3837-5408
URL: N/A
Registered & headquarters at:
5-1-23 Kagoikedori Chuoku Kobe 651-0053
Tel: 078-231-1847
Fax: 078-222-2235
ACTIVITIES
Import, wholesale of polished diamonds, pearls, other gem
stones
BRANCHES
Tokyo (Headquarters at Kobe as given above)
FACTORY(IES)
(subcontracted)
OFFICER(S)
GUMNANI G RUPCHAND, PRESIDENT
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 940 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 114 M
STARTED 1975 EMPLOYES 6
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED
DIAMONDS, PEARLS, OTHER JEWELRY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by father of Gumnani
Rupchand, resident Indian businessman, in order to make most of his experience
in the subject line of business. This
is a trading house specializing in import and wholesale of polished, pre-cut
diamonds centrally, pearls and other gemstones & jewelry products. Originally started as a pearl trader in Kobe
and later shifted its mainstay item to polished diamonds, which are the major
source of earnings. Goods are imported
from India, Israel, etc and supplied to local jewelry stores, jewelry
processors, other. G Rupchand says
purchase amount is between Yen 5 million to Yen 10 million per shipment. Operates Tokyo office to cover Tokyo market
including Kofu City, Yamanashi-Pref, the hub of jewelry processors and
shops. Gemstones are subcontracted mfg
to local jewelry processors into jewelry products. Clients include jewelry processors, jewelry stores, wholesalers,
other.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Dec/2006 fiscal term amounted to Yen
940 million, a 1% down from Yen 950 million in the previous term. The net profit remained similar at Yen 10
million.
For the term just ended Dec 2007 the net profit is estimated
posted at Yen 10 million, on a 1% rise in turnover, to Yen 950 million. Profits could improve after thorough
journalizing of the accounts, says G Rupchand.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements. Max credit limit is estimated at Yen 13.7 million, on normal
terms.
REGISTRATION
Date Registered : Dec
1975
Legal Status :
Private Limited Company (Yugen Gaisha)
Regd Capital :
Yen 20 million
Major shareholders (%) :
Gumnani Rupchand (70) & families (--30)
No. of shareholders :
3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales polished diamonds,
pearls, other gemstones, jewelry products
(--100%).
Goods are imported from India, Israel, etc.
Clients: [Jewelry stores, jewelry processors] Savvy, Gosho,
Daiwa Hoshoku, Taiho Kikin- zoku,
Komiya Co, Lucky Co, other.
No. of accounts: 300
Domestic areas of activities: Nationwide.
Suppliers: [Mfrs, wholesalers] Mani Export, Dalumi Asher,
Laxmi Diamond, Ip Patel, other from India, Israel, other.
Payment record
Regular
Location
Business area in Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
SMBC (Midosuji)
MUFG (Ueno-Chuo)
Relations: Satisfactory
FINANCES: (In Million
Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual Sales |
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950 |
940 |
950 |
840 |
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Recur. Profit |
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Net Profit |
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10 |
10 |
10 |
27 |
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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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114 |
104 |
94 |
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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 |
1.06 |
-1.05
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13.10
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5.00 |
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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 |
1.05 |
1.06 |
1.05 |
3.21 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2007 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%)