MIRA
INFORM REPORT
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Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
NICE DIAMOND CO LTD |
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Registered Office : |
2-20-2 Takara Kofu City Yamanashi-Pref 400-0034 |
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Country : |
Japan |
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Date of Incorporation : |
October 2004 |
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Legal Form : |
Private Limited Company |
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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 & address
NICE DIAMOND CO LTD
REGD NAME: YK Nice Diamond
MAIN OFFICE: 2-20-2 Takara Kofu
City Yamanashi-Pref 400-0034 JAPAN
Tel :
055-228-6665
Fax : 055-228-6665
URL : N/A
E-Mail address : niishchalsheth@yahoo.com
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Tokyo
FACTORY(IES)
(Subcontracted)
OFFICERS
NISHCHAL KUMAR RAJANIKANT SHET, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,300 M
PAYMENTS REGULAR CAPITAL Yen 5 M
TREND UP WORTH Yen 155 M
STARTED 2004 EMPLOYES 7
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 Nishchalkumar, an Indian resident businessman, in order to make most of his experience in the subject line of business, utilizing his business networks in India and Japan. This is a trading firm, owned and operated by Nishalkumar, for import and wholesale of polished, precut diamonds from India centrally, and also from Korea. Handles also diamond-bedded jewelry products and others. Stones are supplied to jewelry processors, jewelry stores, wholesalers, etc and partially subcontracted mfg to local processors. Kofu is the jewelry processing center in the eastern Japan, from where products are shipped to Tokyo & Osaka regions. 50% of the products are shipped to jewelry processors & stores in Kofu City
FINANCIAL INFORMATION
Financials are only partially disclosed.
The
sales volume for May/2007 fiscal term amounted to Yen 1,300 million, an 8% up
from Yen 1,200 million a year ago.
Opened Tokyo Branch Office and business is seen rising steadily. The net profit was posted at Yen 75 million,
up from Yen 70 million a year ago.
For
the current term ending May 2008 the net profit is projected at Yen 75 million,
on a 4% rise in turnover, to Yen 1,350 million. Business started to be on uptrend with client networks expanded.
The
financial situation is considered RATHER WEAK but should be good for MODERATE
business engagements. Max credit limit
is estimated at Yen 19.8 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 2004
Legal Status: Private
Limited Company (Yugen Gaisha)
Regd Capital: Yen 5
million
Major shareholders (%)
Nishchalkumar Rajanikant Shet
(100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales polished, precut diamonds and jewelry products (--100%).
Goods are imported from India centrally, and Korea, etc.
Clients
Jewelry processors, jewelry stores, other
(Kofu City 50%; Greater-Tokyo region 50%)
No. of accounts
200
Domestic areas of activities
Centered in Kofu & greater-Tokyo region
Suppliers
[Mfrs, wholesalers] Imports from India centrally, other from Korea.
Payment record
Regular
Location
Business area in Kofu City, Yamanashi-Pref. Office premises at the caption address are owned by Nishalkumar as his private residence and maintained satisfactorily.
Bank References
Kofu Shinkin Bank (Ishida)
SMBC (Kofu)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/05/2008 |
31/05/2007 |
31/05/2006 |
31/05/2005 |
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Annual
Sales |
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1,350 |
1,300 |
1,200 |
80 |
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Recur.
Profit |
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Net
Profit |
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75 |
75 |
70 |
5 |
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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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155 |
80 |
10 |
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Capital,
Paid-Up |
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5 |
5 |
5 |
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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 |
3.85 |
8.33 |
1,400.00 |
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- |
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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 |
5.56 |
5.77 |
5.83 |
6.25 |
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Note: Financials are only partially disclosed.
The 30/09/2005 fiscal is the initial accounting term from
the inception.
Forecast (or estimated) for the 31/05/2008 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%)