MIRA
INFORM REPORT
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Report Date : |
05.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
GGP PLANNING CO LTD |
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Registered Office : |
Shimomura Bldg 301, 2-10-28 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Date of Incorporation : |
February, 2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import agency 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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Maximum Credit Limit : |
Yen 22.8 million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name of the company
GGP PLANNING CO LTD
REGD NAME: YK GGP Planning
MAIN OFFICE
Shimomura Bldg 301, 2-10-28 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel: 06-4704-8566 Fax:
06-4704-8577
URL
N/A
E-Mail address
ggp.jewelers@kpe.biglobe/
ACTIVITIES
Import agency of diamonds, jewelry products
BRANCHES
Nil
FACTORY(IES)
Thailand, China, Hong Kong, India (--subcontracted)
OFFICERS
GENZO UBAI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,200 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND STEADY WORTH Yen 12 M
STARTED 2004 EMPLOYES 2
COMMENT
IMPORT AGENCY OF
DIAMONDS & JFEWLRY PRODUCTS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT ENGAGE-MENTS:
US$60,000 / O/A 120 DAYS.
MAX CREDIT LIMIT: YEN 22.8 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established as a
purchasing & import agent by YK GGP, jewelry wholesaler at the caption
address (see REGISTRATION). Specializes
in import, as agent, diamonds, other gemstones, and jewelry products, for
exclusive supply to the parent company.
Goods are imported from China, India, Thailand and Hong Kong where the
parent has subcontracted factories.
Management, operations and staff members are all integrated with the
parent. Genzo Ubai presides both
firms. Goods are distributed through
the parent to local specialized jewelry processors, jewelry stores, other.
FINANCIAL INFORMATION:
The sales volume for Jan/2007 fiscal term
amounted to Yen 1,200 million, a 20% up from Yen 1,000 million in the previous
term. Client networks expanded. Weaker Yen against foreign currencies also
helped to raise sales amount in Yen terms.
The net profit was posted at Yen 4 million, up from Yen 3 million a year
ago.
For the current term ending Jan 2008 the net
profit is projected at Yen 4 million, on an 8% rise in turnover, to Yen 1,300
million. Business is seen continuing
rising.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 22.8
million, on 30 days normal terms. The
proposed amount for 120 days is considered well within the firm’s financial
capabilities.
REGISTRATION
Date Registered : Feb 2004
Legal Status :
Private Limited Company (Yugen Kaisha)
Regd Capital : Yen
3 million
Major shareholders (%): YK GGP*(100)
*.. Wholesaler of jewelry at the caption address, founded 2002, capital
Yen 3 million, turnover
Yen 1,200 million, employees 10, pres Genzo Ubai concurrently.
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Imports, as agent, diamonds,
other gem stones, jewelry products, others (--100%).
Goods are imported
from subcontracted factories in China, India, Thailand, Hong Kong, etc for
exclusive supply to the parent.
Clients
[Wholesaler] Supplies wholly to the parent,
YK GGP, for distribution to Nissen Co (mail-order sales), Tonoyo Co
(kimono/apparel/accessories), Terauchi & Co (jew-elry/ watches) (--Kyoto),
other, totaling about 200.
No. of accounts: 1
Domestic areas of
activities: Centered in greater-Osaka
Suppliers
[Mfrs] Imports from subcontracted mfrs in
Thailand, China, India, Hong Kong, other.
Payment record: Regular
Location
Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Osaka Shinkin Bank (Nipponbashi)
SMBC (Itachibori)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/01/2008 |
31/01/2007 |
31/01/2006 |
31/01/2005 |
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Annual Sales |
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1,300 |
1,200 |
1,000 |
800 |
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Recur. Profit |
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Net Profit |
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4 |
4 |
3 |
2 |
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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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12 |
8 |
5 |
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Capital, Paid-Up |
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3 |
3 |
3 |
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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 |
8.33 |
20.00 |
25.00 |
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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 |
0.31 |
0.33 |
0.30 |
0.25 |
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Financials are only partially disclosed.
The 31/01/2005 term is the initial accounting term since the inception.
Forecast (or estimated) for the 31/01/2008 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%)