MIRA
INFORM REPORT
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Report Date : |
18.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROSY BLUE LTD |
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Registered Office : |
Jewelry Mart 3F, 1-10-6 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 : |
Feb 1978 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Rough Diamonds, Polished and Precut Diamond |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
name & address
ROSY BLUE LTD
REGD NAME: KK Rosy Blue
MAIN OFFICE: Jewelry Mart 3F,
1-10-6 Higashiueno Taitoku Tokyo 110-0015 JAPAN
Tel :
03-3836-7088
Fax :
03-3836-7099
E-Mail address: Tokyo@rosyblue.com
ACTIVITIES
Import, wholesale of rough diamonds, polished & precut
diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
ATUL JHAVERI, PRES (Indian resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,200 M
PAYMENTS REGULAR CAPITAL Yen 33 M
TREND STEADY WORTH Yen 296 M
STARTED 1978 EMPLOYES 30
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN DIAMONDS, JAPAN BRANCH OF ROSY BLUE GROUP,
BELGIUM.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject
company was established originally in 1974 as a marketing office in Japan by
Rosy Blue Group, founded 1973 in Belgium as satellite office for B Arunkumar
& Co, India, for procurement of rough & polished diamonds. The subject firm was incorporated in
1978. The subject specializes in
importing and wholesaling diamonds, from rough to polished & precut
ones. Also handles fine jewelry. Goods are imported widely from mining
companies in Canada, Russia, S Africa, S America, etc, including those from group
firms in 15 global networks. Diamonds
are subcontracted mfg into fine jewelry products. Clients are major jewelry wholesalers, jewelry processors, chain
stores, other.
FINANCIAL INFORMATION
The
sales volume for Dec/2006 fiscal term amounted to Yen 6,200 million, a similar
amount in the previous term. The net
profit was posted at Yen 15 million, similarly in the last term.
For
the term that ended Dec 2007 the net profit was projected at Yen 15 million, on
a 2% rise in turnover, to Yen 6,300 million.
Final results will be available at around end of May.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at yen 92 million, on 30 days normal terms.
REGISTRATION
Date Registered: Feb 1978
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,640
shares
Issued: 660
shares
Sum: Yen
33 million
Major shareholders (%)
Rosy Blue Finance, Atul Jhaveri
& relatives (--100)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales rough diamonds, polished, precut diamonds (--90%), fine jewelry, other jewelry products
(--10%).
Partially retails them,
too.
Goods
are imported from Belgium, Hong Kong, Israel, South Africa, Switz, India,
China, and other group firms in
15 locations worldwide.
Rough diamonds include:
sawables, makeables, cleavages, industrials, crystals, etc.
Polished diamonds include:
stars, full cuts, melees, pointers, caraters, larger specials, ideal cuts,
certificate goods, princess cuts, fancies
Clients
Local jewelers,
jewelry processors, jewelry mfrs, chain stores, other
No. of accounts
1,000
Domestic areas of activities
Nationwide
Suppliers
[Mfrs,
mining firms, wholesalers] Rosy Blue NV (Belgium), Rosy Blue India Pri- vate Ltd (India), DTC (De Beers), BHP
(Australia), Rio Tinto, Alrosa, other from Hong Kong, Israel, South Africa,
Switz, India, China, UAE, Russia, Luxemburg, Sri Lanka, Thailand, USA, etc.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
SMBC (Ueno)
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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6,300 |
6,200 |
6,200 |
6,750 |
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Recur.
Profit |
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Net
Profit |
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15 |
15 |
15 |
19 |
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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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296 |
281 |
266 |
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Capital,
Paid-Up |
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33 |
33 |
33 |
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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 |
1.61 |
0.00 |
-8.15 |
3.85 |
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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 |
0.24 |
0.24 |
0.24 |
0.28 |
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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%)