MIRA
INFORM REPORT
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Report Date : |
07.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
IWAHIRO TRADING CO LTD |
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Registered Office : |
3-13-7 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2007 |
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Date of Incorporation : |
February 1970 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Diamonds, 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 & address
IWAHIRO TRADING CO
LTD
REGD NAME: KK Iwahiro Boeki
MAIN OFFICE: 3-13-7 Taito Taitoku Tokyo 110-0016 JAPAN
Tel:
03-3836-1816 Fax: 03-3836-1830
URL: http://www.iwahiro.co.jp/
E-Mail address:info@iwahiro.co.jp
ACTIVITIES
Import, wholesale of diamonds, jewelry
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
HIROMOTO IWASAWA, PRES
Atsuko Iwasawa, s/mgn dir
Ken’ichi Nakasawa, s/mgn dir
Masafumi Kawaguchi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 572 M
PAYMENTS REGULAR CAPITAL Yen 31 M
TREND SLOW WORTH Yen 290 M
STARTED 1970 EMPLOYES 17
COMMENT
IMPORTER AND WHOLESALER OF DIAMONDS & JEWELRY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Hiromoto Iwasawa in order to make most of his experience in the subject line of business. Iwahiro comes from his name. This is a trading firm for import and wholesale of diamonds, colored stones and jewelry. Handles “Bettina Klein” brand of Germany. Diamonds and precious stones are imported from Israel, India, Hong Kong, Thailand, Belgium, Germany, USA, other. Diamond and colored stones are partially subcontracted mfg into jewelry products. Clients are local jewelry processors, wholesalers, jewelers, other.
FINANCIAL INFORMATION
The sales volume for Nov/2007 fiscal term amounted to Yen 572 million, a 10% down from Yen 635 million in the previous term. Slow recovery of consumer demand hurt the sales. The net profit was posted at Yen 9 million, down from Yen 22 million a year ago.
For the current term ending Nov 2008 the net profit is projected at Yen 10 million, on a 1.4% rise in turnover, to Yen 580 million.
The financial situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Feb 1970
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 240,000 shares
Issued: 63,332 shares
Sum: Yen 31.7 million
Major shareholders (%)
Hiromoto Iwasawa (20), other
No. of shareholders: 16
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales diamonds, ruby, sapphire, black opal, jewelry products (--100%)
Handles “Bettina Klein” brand of Germany.
Clients
Local jewelry processors, wholesalers, jewelers, other
No. of accounts: 500
Domestic areas of activities: Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Belgium, Israel, India, Hong Kong, Thailand, Myanmar, Germany, USA, etc.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Ueno)
MUFG (Ueno-Chuo)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/11/2008 |
30/11/2007 |
30/11/2006 |
30/11/2005 |
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Annual
Sales |
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580 |
572 |
635 |
600 |
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Recur.
Profit |
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Net
Profit |
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10 |
9 |
22 |
11 |
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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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290 |
281 |
259 |
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Capital,
Paid-Up |
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31 |
31 |
31 |
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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 |
1.40 |
-9.92 |
5.83 |
-14.29 |
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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 |
1.72 |
1.57 |
3.46 |
1.83 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/11/2008 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.43.37 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.68.08 |
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%)