MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
EMA JAPAN CO LTD |
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Registered Office : |
Kazu IT Bldg 905, 2-10-27 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
April 2001 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Diamonds, Jewelry |
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
EMA JAPAN CO LTD
REGD NAME: EMA Japan KK
MAIN OFFICE: Kazu IT Bldg 905,
2-10-27 Minamisemba Chuoku Osaka 542-0081 JAPAN
Tel:
06-6253-6565 Fax: 06-6253-6566
URL: http://www.emajapan-diamonds.com
E-mail: info@emajapan-diamonds.com
ACTIVITIES
Import, wholesale of diamonds, jewelry
BRANCHES
Tokyo
FACTORY(IES)
(Subcontracted)
OFFICERS
TAKANORI KONDO, PRES
Hiroki Tsuchiyama, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 700 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen 17 M
STARTED 2001 EMPLOYES 4
COMMENT
IMPORTER
OF DIAMONDS & JEWELRY.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by EMA, Israel as its marketing base in Japan. Founded in 2001, but actual operations started in Jan 2005. Imports and wholesales polished diamonds, other gemstones and jewelry products. Imports from Israel (EMA) and India. Stones are partially subcontracted mfg to local jewelry processors and exported to Israel, Hong Kong, etc. Clients are jewelry processors, jewelry stores, wholesalers, other.
FINANCIAL INFORMATION
The firm does not disclose full financials, except for the 31/12/2003 fiscal term, and only partial figures are available.
The sales volume for Dec/2007 fiscal term amounted to Yen 700 million, a 30% drop from Yen 1,000 million in the previous term. Reasons for the drop are not mentioned except that this is due to the parent company’s business operations, but only reported and confirmed. The net profit was posted at 8 million, down from Yen 12 million a year ago.
Notes: For the 31/12/2003 fiscal term, the firm reported total assets Yen 151 million, current assets Yen 149 million, fixed assets Yen 2 million, net worth Yen (-) 13 million, retained earnings Yen (-) 38 million.
For the current term ending Dec 2008 the net profit is projected at Yen 8 million, on a 14% rise in turnover, to Yen 800 million.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements. Max credit limit is estimated at Yen 9.4 million, on 30 days terms, we recommending fully guaranteed terms on new transactions. Net worth is reportedly short of the paid-in capital of Yen 20 million.
REGISTRATION
Date Registered: Apr 2001
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major shareholders (%)
EMA (Israel) (majority owned), Takanori Kondo, Hiroki
Tsuchiyama (--breakdown unavailable)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports and wholesales polished diamonds, other gemstones, and jewelry products (--100%).
Imports diamonds and other gemstones from EMA (Israel), India, etc;
Stones are subcontracted mfg into jewelry products with the local jewelry processors and exported to Israel, Hong Kong, other.
Clients
Jewelry processors, jewelry stores, wholesalers, other. Also exports to Israel, Hong Kong, etc.
No. of accounts
50
Domestic areas of activities
Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers] Imports from EMA (Israel), India, other.
Payment record
Regular
Location
Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Resona Bank (Midosuji)
MUFG (Ueno-Chuo)
Relations: Satisfactory.
FINANCES: (In Million Yen)
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Terms
Ending: |
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31/12/2008 |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Annual
Sales |
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800 |
700 |
1,000 |
1,000 |
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Recur.
Profit |
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Net
Profit |
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8 |
8 |
12 |
10 |
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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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17 |
9 |
-3 |
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Capital,
Paid-Up |
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20 |
20 |
20 |
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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 |
14.29 |
-30.00 |
0.00 |
0.00 |
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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 |
1.00 |
1.14 |
1.20 |
1.00 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/12/2008 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%)