MIRA
INFORM REPORT
|
Report Date : |
10.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RECKON GEMS JAPAN LTD |
|
|
|
|
Registered Office : |
3-17-17 Aonuma Kofu Yamanashi-Pref 400-0867 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
April 1993 |
|
|
|
|
Legal Form : |
Limited Company (Kabushiki Kaisha) |
|
|
|
|
Line of Business : |
Import, Wholesale of Diamonds,
Jewelry Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
name & address
RECKON GEMS JAPAN LTD
REGD NAME: Reckon Gems Japan KK
MAIN OFFICE: 3-17-17 Aonuma Kofu
Yamanashi-Pref 400-0867JAPAN
Tel:
055-227-8891 Fax: 055-227-8890
E-mail address:sales@reckongem.com
ACTIVITIES
Import, wholesale of diamonds, jewelry products
BRANCHES
Nil
FACTORY(IES)
(Subcontracted)
OFFICER(S)
CHANDRA G JAJU, PRES
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 800 M
PAYMENTS REGULAR CAPITAL Yen 30 M
TREND STEADY WORTH Yen 127 M
STARTED 1993 EMPLOYES 8
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN JEWELRY, OWNED BY JAJU GEMS, INDIA.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was
established as a Branch Office by Jaju Gems, Jaipur, India, for marketing its
jewelry products in Japan. C G Jaju is
a younger brother of M S Jaju, pres at the Indian Headquarters. The firm specializes in import and wholesale
of polished diamonds, other gem stones, fingerings, earrings, necklaces,
pendants and other jewelry products.
Goods are wholly supplied and imported from the Indian parent and group
firms. Clients are local jewelry
processors, jewelry stores, etc. Stones
are partially processed at local subcontracted factories on demand. Started handling dark brown diamond &
black diamond jewelry in the year 2007.
FINANCIAL INFORMATION
The
sales volume for Mar/2007 fiscal term amounted to Yen 800 million, a 6% down from
Yen 850 million in the previous term.
The net profit was posted at Yen 15 million, compared with Yen 10
million a year ago. Extraordinary
losses of inventory revaluations were gone.
For
the term ended Mar 2008 the net profit was projected at Yen 15 million, on a 6%
rise in turnover, to Yen 850 million.
Business is seen steady and growing.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements
REGISTRATION
Date Registered: Apr 1993
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 600
shares
Issued: 600
shares
Sum: Yen
30 million
Major shareholders (%)
Chandra G Jaju (100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports and wholesales polished diamonds, other gem stones* (including colored
stones), fingerings, earrings, pierced rings, necklaces, bracelets, pendants,
other jewelry products
(--100%).
*..
Gem stones: diamond, gem-set jewelry, platinum jewelry, ruby, sapphire,
aquamarine, tanzanite, cat’s-eye, tourmaline, other.
Goods are imported wholly from
India.
Clients
[Jewelry processors,
jewelry stores] Saegusa Corp, Koshin Jewelry, other
No. of accounts
500
Domestic areas of activities
Centered in Kofu, extending into Tokyo area.
Suppliers
[Mfrs,
polishing companies] Imports wholly from Jaju Gems, India and group processing firms.
Payment record
Regular
Location
Business
area in Kofu City, Yamanashi-Pref. Office
premises at the caption address are leased and maintained satisfactorily.
Bank References
Mizuho Bank (Kofu)
Resona Bank (Kofu)
Relations: Satisfactory
FINANCES: (In Million Yen)
|
Terms Ending: |
|
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
|
Annual
Sales |
|
850 |
800 |
850 |
860 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
15 |
15 |
10 |
10 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
127 |
112 |
102 |
|
Capital,
Paid-Up |
|
|
30 |
30 |
30 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.25 |
-5.88 |
-1.16 |
3.61 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.76 |
1.88 |
1.18 |
1.16 |
|
Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2008 fiscal
term.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)