MIRA
INFORM REPORT
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Report Date : |
28.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOCHIZUKI JEWELS TRADING CO LTD |
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Registered Office : |
2-9-10 Tokugyo Kofu Yamanashi-Pref 400-0047 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2007 |
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Date of Incorporation : |
May 1986 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Manufacture, Wholesale of Diamonds, Colored
Stones, Jewelry Products |
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 12.9 Million |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
name & address
MOCHIZUKI JEWELS TRADING CO LTD
REGD NAME: KK Mochizuki Kiseki
Boeki (Kiseki means precious stones; Boeki means Trading)
MAIN OFFICE: 2-9-10 Tokugyo Kofu
Yamanashi-Pref 400-0047 JAPAN
Tel:
055-222-8881 Fax: 055-222-8884
URL: http://www.mochizuki-jewels.com/
E-Mail address:mkb@yin.or.jp
ACTIVITIES
Import, mfg, wholesale of diamonds, colored stones, jewelry
products
BRANCHES
Tokyo
FACTORY(IES)
At the caption address
OFFICER(S)
Seisaku Mochizuki, ch
KAZUHIKO MOCHIZUKI, DIR
Yasufumi Miyakawa, dir
Tadashi Amano, dir
Jun Iino, dir
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 735 M
PAYMENTS REGULAR CAPITAL Yen
10 M
TREND SLOW WORTH Yen 578 M
STARTED 1986 EMPLOYES 15
COMMENT
MFR, IMPORTER
AND WHOLESALER OF DIAMONDS, PRECIOUS STONES AND
JEWELRY PRODUCTS.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR CREDIT
ENGAGEMENTS:
US$160,000 / O/A 60 DAYS
MAX CREDIT LIMIT
YEN 12.9 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject
company was established originally in 1973 by Seisaku Mochizuki, now ch at the
firm, as a trading firm for importing gem stones and jewelry, on his account,
and was incorporated in 1981. Kazuhiko
is the founder’s son, who took the pres office in Aug 1996. Originally started as a trading firm for
importing diamonds, emerald, sapphire, ruby & other colored stones, and
processing them (on consignment) into jewelry products. In Jun 1990, founded own factory at the
caption address and switched to a jewelry maker. In 1986 opened an office in Columbia but now closed (as a round
of restructuring). Diamonds and
precious colored stones are imported from Hong Kong, Israel, Thailand,
Australia, India, other. Opened Tokyo
Office in 1997. Clients are jewelry
processors, jewelry wholesalers, retailer.
FINANCIAL INFORMATION
Financials
are only partially disclosed, except for Jul/2004 fiscal term when released in
digest form. We have revised the firm’s
net worth based on those figures.
The
sales volume for Jul/2007 fiscal term amounted to Yen 735 million, a 4% up from
Yen 710 million in the previous term.
The net profit was posted at Yen 2 million, down from Yen 3 million a
year ago. Hike in operating &
materials costs ate into profits.
For
the current term ending Jul 2008 the net profit is projected at Yen 3 million,
on a slight rise in turnover, to Yen 740 million.
The
financial situation is considered maintained FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 112.9 million, on 30 days normal terms. The proposed amount for 60 days terms is
considered within the firm’s financial capabilities.
REGISTRATION
Date Registered: May 1986
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%)
Takako
Mochizuki (32), Seisaku Mochizuki (29.5), Kiyomi
Mochizuki
(13), Kazuhiko Mochizuki (10)
No. of shareholders: 9
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports diamonds, sapphire, emerald, ruby, opal, garnet, pearls, other colored stones, and manufactures them into earrings,
bracelets, fingerings, necklaces, broaches, pendants,
other jewelry products (--100%).
(Import 70%)
Clients
Jewelry processors, jewelry
wholesalers, retailers, other.
No. of accounts
300
Domestic areas of activities
Centered in greater-Tokyo, extending into Osaka region
Suppliers
[Mfrs, wholesalers] Imports from Hong Kong, India, Thailand,
Australia, Israel, other.
Also supplied from Tokuriki
Honten Co, and some other domestic jewelry processors, etc.
Payment record
Regular
Location
Business
area in Kofu City, Yamanashi-Pref.
Office premises at the caption address are owned and maintained
satisfactorily.
Bank References
Resona
Bank (Kofu)
Shoko
Chukin Bank (Kofu)
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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740 |
735 |
710 |
690 |
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Recur.
Profit |
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Net
Profit |
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3 |
2 |
3 |
1 |
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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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578 |
576 |
573 |
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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 |
0.68 |
3.52 |
2.90 |
-13.75 |
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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 |
0.41 |
0.27 |
0.42 |
0.14 |
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Notes: Financial statements are only partially disclosed.
Forecast
(or estimated) figures 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%)