MIRA
INFORM REPORT
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Report Date : |
24.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
PIGEON JEWELLERY LTD |
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Registered Office : |
Omori Honsha Bldg, 3-36-1 Yushima Bunkyoku Tokyo 113-0034 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2008 |
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Date of Incorporation : |
November, 1966 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Diamonds, Precious Metals,
Jewelry |
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 of the company
PIGEON JEWELLERY LTD
REGD NAME: KK Pigeon Shokai
MAIN OFFICE
Omori Honsha Bldg, 3-36-1 Yushima Bunkyoku Tokyo 113-0034 JAPAN
Tel: 03-3834-2681 Fax:
03-3832-0067
URL
ACTIVITIES
Import, wholesale of diamonds, precious metals, jewelry
BRANCHES
Osaka
FACTORY(IES)
(subcontracted)
OFFICER(S)
YOSHIHISA OMORI, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,500 M
PAYMENTS REGULAR CAPITAL Yen 72 M
TREND SLOW WORTH Yen 236 M
STARTED 1966 EMPLOYES 22
COMMENT
IMPORTER OF DIAMONDS, PRECIOUS METALS, JEWELRY, OTHER.
FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject
company was established by Yoshihisa Omori in order to make most of his
experience in the subject line of business.
Specializes in import and wholesale of diamonds, precious stones &
metals, jewelry products, other.
Diamonds are partially subcontracted mfg to local jewelry processors
into products. Stones are imported from
Israel, Belgium, Hong Kong, Sri Lanka, Thailand, etc. Goods are shipped to domestic jewelry processors, jewelry stores,
etc.
FINANCIAL INFORMATION
Financials are
only partially disclosed.
The sales volume
for Aug/2007 fiscal term amounted to Yen 1,500 million, a 9% down from Yen 1,650
million in the previous term. This is
referred to sluggish consumer demand that continued. The net profit was posted at Yen 11 million, compared with Yen 12
million a year ago.
For the current
term ending Aug 2008 the net profit is projected at Yen 12 million, on a 7%
rise in turnover, to Yen 1,600 million.
The financial
situation is considered RATHER WEAK but should be good for MODERATE business
engagements. Max credit limit is
estimated at Yen 23.3 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 1966
Legal Status: Limited Company
(Kabushiki Kaisha)
Authorized: 500,000 shares
Issued: 144,000 shares
Sum: Yen 72 million
Major shareholders (%)
Yoshihisa Omori27), other
No. of shareholders
15
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities: Imports and wholesales diamonds,
precious stones & metals, jewelry products (--100%).
Diamonds and precious stones are partially
subcontracted mfg into jewelry products to local jewelry processors.
Stones are imported from Israel, Belgium,
Hong Kong, Sri Lanka, Thailand, etc.
Clients
Jewelry processors, jewelry stores,
consumers, other
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers
[Mfrs, wholesalers] Imports from Israel,
Hong Kong, Belgium, Thailand, Sri Lanka, other.
Payment record: Regular
Location: Business
area in Tokyo. Office premises at the
caption address are owned and maintained satisfactorily.
Bank References
Hokuriku Bank (Asakusa)
MUFG (Kanda)
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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1,600 |
1,500 |
1,650 |
2,320 |
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Recur. Profit |
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Net Profit |
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12 |
11 |
12 |
12 |
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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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236 |
225 |
213 |
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Capital, Paid-Up |
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72 |
72 |
72 |
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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 |
6.67 |
-9.09 |
-28.88 |
-1.28 |
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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 |
0.75 |
0.73 |
0.73 |
0.52 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/08/2008 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%)