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MIRA
INFORM REPORT
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Report Date : |
14.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIMINCO (JAPAN) KK |
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Registered Office : |
Toyo Bldg 6F, 1-6-2 Higashiueno Taitoku Tokyo 110-0015 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
November 2002 |
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Legal Form : |
Limited Company (Kabushiki 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 : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
DIMINCO (JAPAN) KK
REGD NAME: Diminco Japan KK
MAIN OFFICE: Toyo Bldg 6F, 1-6-2
Higashiueno Taitoku Tokyo 110-0015 JAPAN
Tel :
03-3837-8710
Fax :
03-3837-8711
URL : http://www.diminco.jp (limited
information)/
E-Mail address : aohba@fancy.ocn.ne.jp
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
SEDANI RATILAL NILESH, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,100 M
PAYMENTS REGULAR CAPITAL Yen 99 M
TREND STEADY WORTH Yen 116 M
STARTED 2002 EMPLOYES 10
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS, OWNED
BY DIMINCO GROUP, BELGIUM..
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 56.1 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established originally in 1983 by Diminco Group, Belgium, as a rep representative office in Japan, named Diminco NV, and in Nov 2002 incorporated as a limited company to rename as captioned. This is a trading firm specializing in importing and wholesaling polished diamonds and other precious stones. Goods are imported from Belgium centrally, and from its group firms in Thailand, Taiwan, India, other. Goods are also marketed online.
FINANCIAL INFORMATION
The sales volume for Dec/2006 fiscal term amounted to Yen 3,100 million, a 1% up from Yen 3,073 million in the previous term. The net profit was posted at Yen 8 million, up from Yen 7 million a year ago.
For the term that ended Dec 2007 the net profit was projected and estimated posted at Yen 8 million, on a 3% rise in turnover, to Yen 3,200 million. Final results will be made available in Apr onwards.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 56.1 million, on 30 days normal terms.
REGISTRATION
Date Registered: Nov 2002
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,980 shares
Issued: 1,980 shares
Sum: Yen 99 million
Major shareholders (%)
Diminco NV, Belgium (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports and wholesales polished diamonds (90%),
other precious stones, jewelry products (--10%)
Clients
[Jewelry stores, jewelry processors] Tasaki Shinju, Oriental
Diamond, Mikimoto & Co, other.
No. of accounts
500
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Diminco NV (60%), Gitan Jewelry, other from India, China, Israel, other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Ueno-Chuo)
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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3,200 |
3,100 |
3,073 |
2,700 |
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Recur.
Profit |
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Net
Profit |
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8 |
8 |
7 |
6 |
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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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116 |
109 |
102 |
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Capital,
Paid-Up |
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99 |
99 |
99 |
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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 |
3.23 |
0.88 |
13.81 |
21.08 |
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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 |
0.25 |
0.26 |
0.23 |
0.22 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 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%)