MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
TAIKO CO LTD |
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Registered Office : |
Osaka Jewellery Bldg 2F, 3-3-26 Minamisemba Chuoku Osaka 542-0081 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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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 Diamonds, Diamond 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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Maximum Credit Limit : |
YEN 24.6 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
TAIKO CO LTD
REGD NAME: KK Taiko Hoshoku
MAIN OFFICE: Osaka Jewellery Bldg 2F, 3-3-26 Minamisemba
Chuoku Osaka 542-0081
JAPAN
Tel:
06-6251-0341 Fax: 06-6251-0961
URL: N/A
ACTIVITIES
Import, wholesale of diamonds, diamond jewelry
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICERS
KOJI SHIMONAKA, PRES
Koin Aoyama, mgn dir
Chiyoko Shimonaka, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 1,371 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen 160 M
STARTED 1987 EMPLOYES 18
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN DIAMONDS & DIAMOND JEWELRY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT
YEN 24.6 MILLION, 30 DAYS NORMAL TERMS. .
HIGHLIGHTS
The subject company was established by Noriyasu Kaneda in order to make most of his experience in the subject line of business, and was later transferred to Koji Shimonaka, who took the office of pres on 01/08/2002. This is a trader specializing in polished diamonds, other gem stones, diamond jewelry. Diamonds are imported from Hong Kong, Belgium, Thailand, Canada, other. Diamonds are partially subcontracted mfg to local jewelry processors into jewelry products. Clients are local jewelry processors, jewelry stores, chain stores, centering in greater-Osaka area.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Jul/2007 fiscal term amounted to Yen 1,371 million, a 26% drop from Yen 1,850 million in the previous term. The reasons for the sales drop are not disclosed but reportedly the lost one of big clients. The operations plunged into the red to register Yen 29 million net losses for the term. This is referred to some NC’s.
For the current term ending Jul 2008 the operations are expected to come back to profitability but still limited to a minimum amount post-taxes, on a 2% rise in turnover, to Yen 1,400 million.
The financial situation is considered maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 24.6 million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct 1987
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800 shares
Issued: 200 shares
Sum: Yen 10 million
Major shareholders (%)
Koji Shimonaka (50)
No. of shareholders: 5
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales polished diamonds, other
gem stones, diamond jewelry, others (--100%).
Goods are imported from Hong Kong, Belgium, Thailand,
Canada, etc.
Clients
[Jewelry processors, jewelers,
chain stores] Hakkakudo, Opera, other.
No. of accounts
200
Domestic areas of activities
Centered in greater-Osaka
Suppliers
[Mfrs, wholesalers]
Taniguchi Jewelry, Sakha Diamond Corp, Eiko Watch, Japan Auction Systems,
other.
Also imports from Hong Kong, Belgium, Israel, etc.
Payment record
Regular
Location
Business
area in Osaka. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
SMBC (Tsuruhashi)
Kinki Osaka Bank (Tsuruhashi)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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31/07/2008 |
31/07/2007 |
31/07/2006 |
31/07/2005 |
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Annual
Sales |
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1,400 |
1,371 |
1,850 |
1,820 |
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Recur.
Profit |
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Net
Profit |
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0 |
-29 |
30 |
28 |
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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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160 |
189 |
159 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
2.12 |
-25.89 |
1.65 |
-2.67 |
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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 |
-2.12 |
1.62 |
1.54 |
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Note: Financials are only partially disclosed.
Forecast (or estimated) for the 31/07/2008 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%)