MIRA
INFORM REPORT
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Report Date : |
07.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
JEWELERY STUDIO TOKI CO LTD |
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Registered Office : |
Okazaki Bldg 1F, 3-16-7 Namba-Naka Naniwaku Osaka 556-0011 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 1989 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer, Import, Wholesale of Gem Stones, Jewelry
Products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
YEN 3.0 Million |
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Status : |
Moderate |
name & address
JEWELERY STUDIO
TOKI CO LTD
REGD NAME: KK Toki
MAIN OFFICE: Okazaki Bldg 1F, 3-16-7 Namba-Naka Naniwaku
Osaka 556-0011 JAPAN
Tel:
06-6647-0196 Fax: 06-6647-4026
URL: N/A
ACTIVITIES
Mfg, import, wholesale of gem stones, jewelry products
BRANCHES
Nil
FACTORY(IES)
At the caption address (processing workshop)
OFFICER(S)
TOKIYURU KAJIYA, PRES
Takeshi Ishida, dir
Yukie Ohta, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 165 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 94 M
STARTED 1989 EMPLOYES 14
COMMENT
MFR,
IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR CREDIT ENGAGEMENTS:
US$50,000 / O/A 90 DAYS.
MAX CREDIT LIMIT
YEN 3.0 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was
established originally in 1984 by Tokiyuru Kajiya in order to make most of his
experience in jewelry industry, on his account, and incorporated in 1989. This is a trading house specializing in
jewelry and accessories with processing division attached. Imports gem stones and jewelry products from
Thailand, India, China, etc. Stones are
wholesaled to fellow traders as stones, as well as jewelry products, originally
designed and processed into original brands at the caption workshop. Partially subcontracts mfg to local makers,
too. Also offers made-to-order jewelry
and remodeling services.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The sales
volume for Mar/2007 fiscal term amounted to Yen 165 million, an 11% down from
Yen 185 million in the previous term.
Affected by slow recovery of consumer demand. The net profit was posted at Yen 8 million, down from Yen 10
million a year ago.
For
the term ended Mar 2008 the net profit was projected at Yen 8 million, on a 3%
rise in turnover, to Yen 170 million.
Rising costs of materials and operations should have worsened
profitability.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 3.0 million, on 30 days normal terms. The proposed amount for 90 days terms is
considered within the firm’s financial capacities.
REGISTRATION
Date
Registered: Apr 1989
Legal
Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen
10 million
Major shareholders (%)
Tokiyuru Kajiya & families (--100)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities
Imports
and wholesales diamonds, star rubies, platinum, gold, other gem stones & precious metals, and processes them into
original brand jewelry products: earring, neck- laces,
pendants, fingerings, broaches, tie pins, bracelets, other products
(--100%).
Offers made-to-order jewelry
accessories, including repairing, remodeling services, too. Goods
are partially retailed directly or online.
Goods
are imported from India, Thailand, China, other.
Clients
Jewelry processors, jewelry
stores, chain stores, consumers, other (Details not disclosed).
No. of accounts: 500
Domestic areas of activities: Centered in greater-Osaka
Suppliers
[Mfrs,
wholesalers] Imports from India, Thailand, China, etc.
Also supplied domestically from
fellow traders, jewelry processors, other.
Payment record
Regular
Location
Business
area in Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References
Resona Bank (Namba)
MUFG (Abenobashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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170 |
165 |
185 |
180 |
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Recur.
Profit |
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Net
Profit |
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8 |
8 |
10 |
10 |
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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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94 |
86 |
76 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
3.03 |
-10.81 |
2.78 |
-5.26 |
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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 |
4.71 |
4.85 |
5.41 |
5.56 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 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%)