MIRA
INFORM REPORT
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Report Date : |
24.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
KINGSTONE LTD |
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Registered Office : |
1-12-3 Tohkohji Kofu Yamanashi-Pref 400-0807 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
April, 1992 |
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Legal Form : |
Private Limited Company (Yugen
Kaisha) |
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Line of Business : |
Import, Wholesale of Diamonds |
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
KINGSTONE LTD
REGD NAME
YK Kingstone
MAIN OFFICE
1-12-3 Tohkohji Kofu Yamanashi-Pref 400-0807 JAPAN
Tel: 055-227-6224 Fax:
055-227-6222
URL: N/A
ACTIVITIES
Import, wholesale of diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
MAKOTO FUKUSHI, PRES
Hiromi Fukushi, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 220 M
PAYMENTS REGULAR CAPITAL Yen 3 M
TREND SLOW WORTH Yen 24 M
STARTED 1992 EMPLOYES 2
COMMENT
IMPORTER AND WHOLESALER OF DIAMONDS.
FINANCIAL SITUATION CONSIDERED RATJER WEAK BUT SHOULD BE
GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Makoto Fukushi in order to make most of his experi-ence in the subject line of business. This is a family-based trading firm, operated from private resi-dence, for importing and wholesaling polished diamonds and diamond jewelry. Diamonds are whole-saled and partially subcontracted mfg to local processors into diamond jewelry. Clients are local jewelry processors, jewelers, individual customers, other.
FINANCIAL INFORMATION
The
sales volume for Dec/2007 fiscal term amounted to Yen 220 million, a 29% down from
Yen 310 million in the previous term.
Reportedly some NC’s occurred by the bankruptcy of its clients. Owner did not approve. The net profit was posted at Yen 1 million,
against Yen 2 million a year ago.
For
the current term ending Dec 2008 the net profit is projected at Yen 1 million,
on a 5% rise in turnover, to Yen 230 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
REGISTRATION
Date
Registered: Apr 1992
Legal
Status: Private Limited Company (Yugen Kaisha)
Regd
Capital: Yen 3 million
Major shareholders (%): Makoto Fukushi (50), Hiromi
Fukushi (10)
No. of
shareholders: 5
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales polished diamonds, diamond jewelry (--100%)
Clients
[Jewelry processors, Jewellers] Tamura Shokai, Gem Select, L
Jewelry, Sanpo, other.
No. of accounts: 300
Domestic areas of activities: Centered in Yamanashi-Pref extending
into Tokyo.
Suppliers
[Mfrs, wholesalers] Shrenuj & Co Ltd, other.
Payment
record: Regular
Location:
Business area in Kofu City. Office
premises at the caption address are owned by M Fukushi as his private residence
and maintained satisfactorily.
Bank References
Kofu Shinkin Bank (Midoricho)
Yamanashi Chuo Bank (Higashi)
Relations: Satisfactory^Money deposits & transfers only
FINANCES: (In Million Yen)
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Terms Ending: |
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3112/22008 |
3112/2007 |
3112/22006 |
3112/22005 |
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Annual
Sales |
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230 |
220 |
310 |
338 |
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Recur.
Profit |
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Net
Profit |
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1 |
1 |
2 |
3 |
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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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24 |
23 |
22 |
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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 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.55 |
-29.03 |
-8.28 |
-8.65 |
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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 |
0.43 |
0.45 |
0.65 |
0.89 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2007 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. 41.96 |
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UK Pound |
1 |
Rs.83.78 |
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Euro |
1 |
Rs.65.82 |
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%)