MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
J TRADING CO LTD |
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Registered Office : |
Ohmiya Bldg 3F, 5-13-9 Ueno Taitoku Tokyo 110-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2007 |
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Date of Incorporation : |
October 1987 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Polished Diamonds, Fingerings, other
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 : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
J TRADING CO LTD
REGD NAME: J Trading KK
MAIN OFFICE: Ohmiya Bldg 3F,
5-13-9 Ueno Taitoku Tokyo 110-0005 JAPAN
Tel:
03-3834-0933 Fax: 03-3834-0919
E-Mail address:info@jt-net.co.jp
ACTIVITIES
Import, wholesale of polished diamonds, fingerings, other
jewelry
BRANCHES
Osaka, Fukuoka
FACTORY(IES)
YK Cast Art (subsidiary)
OFFICERS
TAKESHI IWATA, PRES
Shin’ichi Uehara, dir
Harumi Ochiai, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,286 M
PAYMENTS REGULAR CAPITAL Yen 45 M
TREND STEADY WORTH Yen 135 M
STARTED 1987 EMPLOYES 8
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN DIAMONDS AND OTHER JEWELRY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established originally in 1981 by Hirokazu Iwata in order to make most of in order to make most of his experience in the jewelry business, on his account. Takeshi is the founder’s son, who took the office of presidency in Mar 1991. This is a specialized trading house, owned by the Iwata family, for import and wholesale of polished & precut diamonds centrally, accounting for 90% of total sales. Also handles fingerings, earrings, other jewelry products. Diamonds are imported from Belgium, Israel, India, other. They are processed into jewelry products by subsidiary mfr, YK Cast Art. Design and R&D works are handled by subsidiary, KK J Plan. The operations are totally handled by the group firms. Known by sound management and operation with stable & solid clientele networks. Clients are jewelry stores, jewelry processors, others, nationwide.
FINANCIAL INFORMATION
The sales volume for Aug/2007 fiscal term amounted to Yen 1,286 million, a 14% down from Yen 1,496 million in the previous term. Hurt by rising diamonds prices and slumping consumer demand for luxuries. The recurring profit was posted at Yen 16 million and the net profit at Yen 7 million, respectively, compared with Yen 36 million recurring profit and Yen 8 million net profit, respectively, a year ago.
For the term ended Aug 2008 the recurring profit is projected at Yen 18 million and the net profit at Yen 7 million, respectively, on a 5% recovery in turnover, to Yen 1,350 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Oct 1987
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 3,600 shares
Issued: 900 shares
Sum: Yen 45 million
Major shareholders (%)
Takeshi Iwata (65.5), Hirokazu Iwata (20)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales polished, precut diamonds (90%), fingerings, other jewelry products (--10%).
Diamonds are imported from Belgium, Israel, India, other.
Operations are all handled by the group firms: YK Cast Art (jewelry processing) and KK J Plan (designing, planning, R&D)
Clients
[Jewelry stores, jewelry processors] Kirin’ya, Elizabeth Jewelry, other.
No. of accounts
500
Domestic areas of activities
Centered in greater-Tokyo
Suppliers
[Mfrs, wholesalers] Imports from Lily Diamond, other from Belgium Israel, India, etc.
Also supplied from Kashikey Co, Yama Co, Kinpodo, Cast Art (subsidiary), other.
Payment record
Regular
Location
Business area in Tokyo. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
Asahi Shinkin Bank (H/O)
MUFG (Ueno)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
31/08/2008 |
31/08/2007 |
31/08/2006 |
31/08/2005 |
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Annual
Sales |
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1,350 |
1,286 |
1,496 |
1,480 |
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Recur.
Profit |
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18 |
16 |
36 |
15 |
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Net
Profit |
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7 |
7 |
8 |
6 |
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Total
Assets |
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775 |
776 |
760 |
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Current
Assets |
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700 |
677 |
677 |
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Current
Liabs |
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505 |
517 |
544 |
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Net
Worth |
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135 |
128 |
119 |
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Capital,
Paid-Up |
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45 |
45 |
45 |
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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 |
4.98 |
-14.04 |
1.08 |
-2.50 |
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Current Ratio |
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.. |
138.61 |
130.95 |
124.45 |
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N.Worth Ratio |
.. |
17.42 |
16.49 |
15.66 |
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R.Profit/Sales |
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1.33 |
1.24 |
2.41 |
1.01 |
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N.Profit/Sales |
0.52 |
0.54 |
0.53 |
0.41 |
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Return On Equity |
.. |
5.19 |
6.25 |
5.04 |
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Notes: Forecast (or estimated) figures for 31/08/2008 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%)