MIRA
INFORM REPORT
|
Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
STAR DIAMOND CO LTD |
|
|
|
|
Registered Office : |
Ryutsu Honten Bldg 201, 5-22-4 Ueno Taitoku Tokyo 110-0005 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.01.2008 |
|
|
|
|
Date of Incorporation : |
February 2000 |
|
|
|
|
Legal Form : |
Private Limited Company (Yugen Gaisha) |
|
|
|
|
Line of Business : |
Import, Wholesale of Polished Diamonds |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Regular |
name & address
STAR DIAMOND CO LTD
REGD NAME: Star Diamond YK
MAIN OFFICE: Ryutsu Honten Bldg
201, 5-22-4 Ueno Taitoku Tokyo 110-0005 JAPAN
Tel:
03-3832-5075 Fax: 03-3832-5086
URL: N/A
ACTIVITIES
Import, wholesale of polished diamonds
BRANCHES
Nil
FACTORY(IES)
(subcontracted)
OFFICER(S)
PATEL CHANDRAKANT, PRES (Indian resident)
Yen Amount
In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 450 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND STEADY WORTH Yen 41 M
STARTED 2000 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
HIGHLIGHTS
The subject company was
established by Patel Chandrakant, an Indian businessman residing in Japan, in
order to import and market polished diamonds and other gem stones in
Japan. 90% of the goods are imported
from India and the rest from Belgium, etc.
The firm employs 5 sales staff, including three Indians. Diamonds are partially processed into
jewelry products on consignment to local jewelry processors.
FINANCIAL INFORMATION
The
subject does not disclose financials and the following figures have been
verbally obtained from Patel Chandrakant by phone. No are reported from outside sources, either.
The sales
volume for Jan/2008 fiscal term amounted to Yen 450 million, a 5% up from Yen
430 million in the previous term.
Consumer spending recovered.
Sales network expanded with strengthened staff. The net profit was posted at Yen 6 million,
up from Yen 5 million a year ago.
For
the current term ending Jan 2009 the net profit is projected at Yen 6 million,
on a 2% rise in turnover, to Yen 460 million.
The financial situation is
considered maintained FAIR and good for ORDINARY business engagements. We recommend,
however, fully secured terms on new transactions. This is because the financials have been verbally obtained from
Patel Chandrakant, with no outside sources to verify the figures.
REGISTRATION
Date Registered: Feb
2000
Legal Status: Private
Limited Company (Yugen Gaisha)
Regd Capital: 10
million
Major shareholders (%)
Patel Chandrakant (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities:
Imports and wholesales polished diamonds, other gem stones (--100%). 90% of the goods are imported from India and
the rest from Belgium, etc.
Clients
Jewelry processors, jewelry stores, chain stores, other
(Details not disclosed)
No. of accounts: 200
Domestic areas of activities: Centered in greater-Tokyo.
Suppliers
[Mfrs, wholesalers]
90% imported from India and 10% from Belgium, etc.
Payment record: Regular
Location
Business
area in Tokyo. Office premises at the
caption address are leased and maintained satisfactorily.
Bank References
State Bank of India (Tokyo)
Asahi Shinkin Bank (H/O)
Relations: Satisfactory
FINANCES: (In Million Yen)
|
Terms Ending: |
|
31/01/2009 |
31/01/2008 |
31/01/2007 |
31/01/2006 |
|
Annual
Sales |
|
460 |
450 |
430 |
420 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
6 |
6 |
5 |
4 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
41 |
35 |
30 |
|
Capital,
Paid-Up |
|
|
10 |
10 |
10 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.22 |
4.65 |
2.38 |
5.00 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
1.30 |
1.33 |
1.16 |
0.95 |
|
Notes: Financials are not disclosed and the above figures
have been obtained from
Patel Chandrakant.
No data available from outside sources.
Forecast (or estimated) figures for the 31/01/2009 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.01 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.65.20 |
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%)