MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
STYLE PEARL GEM LTD |
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Registered Office : |
5-1-23 Kagoikedori Chuoku Kobe 651-0053 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
December 1975 |
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Legal Form : |
Private Limited Company (Yugen Gaisha) |
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Line of Business : |
Import, Wholesale of Polished Diamonds, Pearls, Other Gem Stones |
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
STYLE PEARL GEM
LTD
REGD NAME: YK Style Pearl Gem
MAIN OFFICE: Ohtsuya Bldg 2F, 1-20-3 Higashiueno Taitoku
Tokyo 110-0015 JAPAN*
Tel:
03-3837-5479 Fax: 03-3837-5408
*.. Registered
& headquarters at: 5-1-23 Kagoikedori Chuoku Kobe 651-0053, as given
Tel: 078-231-1847 Fax: 078-222-2235
URL: N/A
ACTIVITIES
Import, wholesale of polished diamonds, pearls, other gem stones
BRANCHES
Tokyo (Headquarters at Kobe as given above)
FACTORY(IES)
(subcontracted)
OFFICER(S)
GUMNANI G RUPCHAND, PRES
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 850 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND STEADY WORTH Yen 117 M
STARTED 1975 EMPLOYES 5
COMMENT
IMPORTER AND
WHOLESALER SPECIALIZING IN POLISHED DIAMONDS, PEARLS,
OTHER JEWELRY.
FINANCIAL
SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by
father of Gumnani Rupchand, resident Indian businessman, in order to make most
of his experience in the subject line of business. This is a trading firm specializing in import and wholesale of
polished, pre-cut diamonds centrally, pearls and other gemstones & jewelry
products. Originally started as a pearl
trader in Kobe and later shifted its mainstay item to polished diamonds, which are
the major source of earnings. Goods are
imported from India, Israel, etc and supplied to local jewelry stores, jewelry
processors, other. G Rupchand says
purchase amount is between Yen 5 million to Yen 10 million per shipment. Operates Tokyo Office to cover Tokyo market
and Kofu City, Yamanashi-Pref, the hub of jewelry processors and shops. Gemstones are partially subcontracted mfg
to local jewelry processors into jewelry products. Clients include jewelry processors, jewelry stores, wholesalers,
other.
FINANCIAL INFORMATION
Financials are
only partially disclosed.
The sales volume
for Dec/2007 fiscal term amounted to Yen 850 million, a 6% down from Yen 900
million in the previous term. The net
profit remained similar at Yen 3 million.
For the current
term ending Dec 2008 the net profit is projected at Yen 3 million, on a similar
turnover, at Yen 850 million. Consumer
spending still remains sluggish, particularly for luxurious goods.
The financial
situation is considered maintained FAIR and good for ORDINARY business
engagements.
REGISTRATION
Date Registered: Dec 1975
Legal Status: Private Limited
Company (Yugen Gaisha)
Regd Capital: Yen 20 million
Major shareholders (%)
Gumnani Rupchand (70) & families (--30)
No. of shareholders: 3
Nothing detrimental is known as to the commercial morality of
executives.
OPERATION
Activities:
Imports and wholesales polished diamonds, pearls, other gemstones, jewelry products (--100%).
Goods are imported from India, Israel, etc.
Clients
[Jewelry stores, jewelry processors] Savvy, Gosho,
Daiwa Hoshoku, Taiho Kikinzoku, Komiya Co, Lucky Co, other.
No. of accounts: 300
Domestic areas of activities: Nationwide.
Suppliers
[Mfrs, wholesalers] Mani Export, Dalumi
Asher, Laxmi Diamond, Ip Patel, other from
India, Israel, other.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are
leased and maintained satisfactorily.
Bank References
SMBC (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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850 |
850 |
900 |
950 |
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Recur.
Profit |
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Net
Profit |
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3 |
3 |
3 |
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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117 |
114 |
111 |
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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 |
0.00 |
-5.56 |
-5.26 |
13.10 |
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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 |
0.35 |
0.35 |
0.33 |
1.05 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/12/2008 fiscal term.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.62 |
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UK Pound |
1 |
Rs.76.71 |
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Euro |
1 |
Rs.61.30 |
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%)