MIRA
INFORM REPORT
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Report Date : |
11.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRITI GEMS CO LTD |
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Registered Office : |
Satoh Bldg 405, 3-43-10 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
April 1998 |
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Legal Form : |
Private Limited Company (Yugen
Kaisha) |
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Line of Business : |
Import, Wholesale of Polished 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
PRITI GEMS CO LTD
REGD NAME
YK Priti Gems
MAIN OFFICE
Satoh Bldg 405, 3-43-10 Taito Taitoku Tokyo 110-0016 JAPAN
Tel : 03-5812-7977
Fax : 03-5812-7976
URL : N/A
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Kofu
FACTORY(IES)
(subcontracted)
OFFICERS
NAYAN SHAH, PRES (Indian resident)
Noboru Koyama, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,495 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 77 M
STARTED 1998 EMPLOYES 8
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS. FINANCIAL SITUATION CONSIDERED RATHER WEAK
BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Nayan Shah, an Indian
businessman, in order to make most of his over 10 years’ experience in the subject
line of business. A resident of Japan
for nearly 20 years, speaking fluent Japanese, he had cultivated a wide
business network in Japan, which prompted him to start his own company jointly
with Noboru Koyama, says Nayan Shah.
This is a trading house specializing in import and wholesale of polished
and pre-cut diamonds. 90% of the
products are imported from India, other from Hong Kong, Thailand, Israel,
Belgium, etc. Has a branch office in
Kofu City, Yamanashi-Pref, hub of Jewelry mfrs, processors and
wholesalers. Goods are shipped to
jewelers, chain stores centering in greater-Tokyo region. The stones are partially subcontracted mfg
to domestic jewelry makers into jewelry products.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen 1,495
million, a 25% sharp rise from Yen 1,200 million in the previous term. This is attributed to the expansion of
customer networks plus the hike in material jewelry prices. The net profit was posted at Yen 15 million,
compared with Yen 10 million a year ago.
Profitability deteriorated due to rising costs of operations and
materials costs.
For the current term ending Dec 2007 the net profit is
projected at Yen 15 million, on a 7% rise in turnover, to Yen 1,600
million. Weaker Yen against foreign
currencies may slide sales upward in Yen terms, while profits may deteriorate
due to rising costs of imports & operations.
The financial situation is considered RATHER WEAK but should be
good for MODERATE business engagements.
REGISTRATION
Date Registered: Apr
1998
Legal Status: Private
Limited Company (Yugen Kaisha)
Regd Capital: Yen
10 million
Major shareholders (%): Noboru Koyama (50), Nayan Shah (45)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales polished diamonds (eight-cut
diamonds, fancy sized diamonds, small brilliants, polished, medium-sized
diamonds, large-sized diamonds), other gem stones (--100%).
Goods are imported from India centrally, other from Hong
Kong, Israel, Belgium, etc.
Goods are also partially subcontracted mfg to local jewelry
processors into products &
accessories.
Clients: [Jewelry stores, jewelry processors, chain stores] K2 Diamond, Komiya, Kuwari Hoshoku, Oriental Diamond, other. Also exports to Singapore, Hong Kong, etc.
No. of accounts: 400
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from India (90%), other from Israel, Belgium, Hong Kong, Thailand, etc.
Jewelry products are supplied from domestic subcontracted
jewelry processors.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Asahi Shinkin Bank (H/O)
SMBC (Ueno)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2007 |
31/12/2006 |
31/12/2005 |
31/12/2004 |
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Annual
Sales |
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1,600 |
1,495 |
1,200 |
100 |
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Recur.
Profit |
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Net
Profit |
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15 |
15 |
10 |
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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77 |
62 |
52 |
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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 |
7.02 |
24.58 |
0.00 |
1.85 |
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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 |
0.94 |
1.00 |
0.83 |
3.00 |
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Notes: Financials are not disclosed only except the above
partial figures.
Forecast (or estimated) figures for 31/12/2007 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%)