MIRA
INFORM REPORT
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Report Date : |
16.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOHSHO JEWELS CO LTD |
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Registered Office : |
385 Shimizuarai Showacho Nakakomagun Yamanashi-Pref 409-2274 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
October 1984 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer and Wholesale of 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 : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
GOHSHO JEWELS CO LTD
REGD NAME: KK Gohsho
MAIN OFFICE: 385 Shimizuarai
Showacho Nakakomagun Yamanashi-Pref 409-2274 JAPAN
Tel:
055-224-3867 Fax: 055-228-7867
* The given
address is its Tokyo Branch Office
URL: N/A
ACTIVITIES
Mfg, wholesale of jewelry
BRANCHES
Tokyo, Osaka
FACTORY(IES)
At the caption address
OFFICERS
MITSUO HIGUCHI, PRES & CEO
Katsushi Higuchi, s/mgn dir
Hiroshi Shinji, s/mgn dir
Hirokazu Higuchi, dir
Yokichi Kitta, dir
Chiharu Ikegaya, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 5,000 M
PAYMENTS REGULAR CAPITAL Yen 48 M
TREND STEADY WORTH Yen 1,136 M
STARTED 1984 EMPLOYES 44
COMMENT
MFR
SPECIALIZING IN JEWELRY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
HIGHLIGHTS
The subject company was established by Mitsuo Higuchi in order to make most of his experience in the subject line of business. Specializes in mfg jewelry: fingerings, earrings, pendants, necklaces, other. Diamonds, gold, pearls, and other precious stones, including color stones, are imported and processed into jewelry products. They are also domestically supplied to jewelry processors, jewelry stores, etc. Top-ranked mfr in jewelry in Yamanashi-Pref. Branch offices in Tokyo and Osaka cover both eastern Japan and western Japan, respectively. Also manufactures folding lantern-type plastic bottles, of which sales are growing.
FINANCIAL INFORMATION
Financial are only partially disclosed.
The sales volume for Jul/2007 fiscal term amounted to Yen 5,000 million, a 9% down from Yen 5,500 million in the previous term. Hurt by sluggish consumer spending. Luxury goods were not much in demand. Rather moderate priced goods were more in demand from younger generations. The net profit remained similar at Yen 130 million.
For the current term ending Jul 2008 the net profit is projected at Yen 130 million, on a 4% rise in turnover, to Yen 5,200 million. Consumer spending is seen recovering.
The financial situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Oct 1984
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 38,640 shares
Issued: 9,660 shares
Sum: Yen 48.5 million
Major shareholders (%)
Mitsuo Higuchi (85), Katsushi Higuchi (15)
No. of shareholders: 2
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures jewelry: fingerings, earrings, pendants, necklaces, bracelets, other (--100%).
Base precious stones are imported.
Clients
Jewelry processors, jewelry stores, other (Details not disclosed)
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
Mfrs, wholesalers, other (Details not disclosed).
Imports diamonds, pearls, colored stones, including jewelry products, etc from Belgium, Israel, India, Thailand, Hong Kong, other.
Payment record
Regular
Location
Business area in Nakakomagun, Yamanashi-Pref. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
Resona Bank (Kofu)
Kofu Shinkin Bank (Nishi)
Relations: Satisfactory
FINANCIALS (In Million Yen)
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Terms Ending: |
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31/07/2008 |
31/07/2007 |
31/07/2006 |
31/07/2005 |
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Annual
Sales |
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5,200 |
5,000 |
5,500 |
6,200 |
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Recur.
Profit |
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Net
Profit |
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130 |
130 |
130 |
180 |
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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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1,136 |
1,006 |
876 |
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Capital,
Paid-Up |
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48 |
48 |
48 |
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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 |
4.00 |
-9.09 |
-11.29 |
0.00 |
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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 |
2.50 |
2.60 |
2.36 |
2.90 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/07/2008 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%)