MIRA
INFORM REPORT
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Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOKYO PEARL CO LTD |
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Registered Office : |
Tokyo Shinju Bldg, 6-16-3 Ginza Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
February 1959 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Export, Wholesale of Pearls, 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
TOKYO PEARL CO LTD
REGD NAME: Tokyo Shinju KK
MAIN OFFICE: Tokyo Shinju Bldg,
6-16-3 Ginza Chuoku Tokyo 104-0061 JAPAN
Tel :
03-3543-6055
Fax :
03-3543-2127
URL : http://www.tokyopearl.com/
E-Mail address : info@tokyopearl.com
ACTIVITIES
Import, export, wholesale of pearls, diamonds
BRANCHES
Osaka, Kofu
OVERSEAS
Antwerp, Tel Aviv (-- rep offices)
TP Diamond Co Ltd (Thailand); Tokyo Shinju Singapore Pte
Ltd;
Tokyo Shinju International Ltd (Taiwan) (--subsidiaries)
FACTORY(IES)
Ise (Mie-Pref); Hong Kong, Taiwan
OFFICER(S)
Takezo Koyama, ch
TOTA KOYAMA, PRES
Itaru Honjo, s/mgn dir
Chozo Higashi, dir
Makoto Ohba, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 8,487 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND SLOW WORTH Yen 100 M
STARTED 1959 EMPLOYES 93
COMMENT
TRADING FIRM SPECIALIZING IN DIAMONDS & PEARLS.
FINANCIAL SITUATION CONSIDERED
RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Takezo Koyama in order to make most of his experience in the subject line of business. Takezo Koyama promoted to ch in 2004, when Tota Koya, his son, took the office of pres. This is a trading firm specializing in import, export and wholesale of polished diamonds, pearls, jewelry products, other. Diamonds are imported from Belgium, Israel, Russia, Thailand, India, USA, other. Pearls are exported. Also imports black Tahiti pearls and South Sea pearls from Tahiti, Surabaya, Australia, other.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 8,487 million, a 14% sharp decline from Yen 9,922 million in the previous term. This is referred to slumping consumer spending on luxurious goods. The operations plunged into the red to register Yen 2,000 million net losses for the term. This is largely referred to the evaluation losses of inventories. Hike in diamonds prices was not immediately passed on to consumers.
For the current term ending Mar 2008 the operations are expected to come back to profitability but still limited to a minimum amount post-taxes, on a 6% rise in turnover, to Yen 9,000 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 131 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1959
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders (%)
Takezo Koyama (40), Koyama Kosan*(20), Yoko Hasegawa (15), Company’s Treasury Stock (8), Toshimitsu Kinoshita (6)
* Owned by the Koyama family.
No. of shareholders: 13
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales polished diamonds, (60%), pearls (40%) & diamond/pearl jewelry (--100%).
Imports diamonds from Belgium, Israel, Russia, Thailand, USA, India, Hong Kong, other.
Pearls are imported from Tahiti, Surabaya, Australia, etc.
Clients
[Jewelry processors, jewelry stores] Kashikei, Belita, Nagahori, Mikimoto Pearls,
Citizen Watch, Azumi, Tokyo Kiho, other.
No. of accounts
800
Domestic areas of activities
Nationwide
Suppliers
[Mfrs, wholesalers] Imports diamonds from Belgium, Israel, Russia, Thailand, USA, India, Hong Kong, other.
Imports pearls from Tahiti, Australia, Surabaya, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are owned and maintained satisfactorily.
Bank References
SMBC (Ginza)
Norin Chukin Bank (H/O)
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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9,000 |
8,487 |
9,922 |
10,472 |
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Recur.
Profit |
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Net
Profit |
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0 |
-2,000 |
354 |
362 |
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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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239 |
2,239 |
1,885 |
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Capital,
Paid-Up |
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100 |
100 |
100 |
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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 |
6.04 |
-14.46 |
-5.25 |
-0.17 |
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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 |
0.00 |
-23.57 |
3.57 |
3.46 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 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%)