MIRA
INFORM REPORT
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Report Date : |
28.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
CLEAR OCEAN & DIAMONDS CO LTD |
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Registered Office : |
Daisen Bldg 7F, 2-12-10 Minamisemba Chuoku Osaka 542-0083 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2008 |
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Date of Incorporation : |
May 2003 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, Wholesale of Diamonds, Other Precious Colored 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 : |
Moderate |
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Payment Behaviour : |
Regular |
name & address
CLEAR OCEAN &
DIAMONDS CO LTD
REGD NAME: Clear Ocean Diamonds KK
MAIN OFFICE: Daisen Bldg 7F, 2-12-10 Minamisemba Chuoku
Osaka 542-0083 JAPAN
Tel:
06-6245-0456 Fax: 06-6245-0547
* Registered and
formerly at: Osaka Biho Kaikan 4F, 1-18-14 Higashishinsaibashi Chuoku Osaka, as given
URL: N/A
ACTIVITIES
Import, wholesale of diamonds, other precious colored stones
BRANCHES
Nil
OFFICER(S)
YOSUKE NISHIMURA, PRES
Nobuhiro Imanishi, dir
Kunio Sugimoto, dir
Yen Amount: In million Yen,
unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 720 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND UP WORTH Yen 31 M
STARTED 2003 EMPLOYES 5
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN
DIAMONDS.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Yosuke Nishimura in order to make most of his experience in the subject line of business. This is a trading house for import and wholesale of pre-cut, polished diamonds and other precious stones. Stones are imported from India, Israel, etc. Clients are local jewelry processors, jewelry stores, kimono wholesaler, etc. Clientele networks have rapidly expanded to include kimono mfrs. Staff members increased to 5 from the previous 3.
FINANCIAL INFORMATION
The financials are only partially disclosed, as follows.
The sales volume for Apr/2008 fiscal term amounted to Yen 720 million, a 21% sharp rise from Yen 594 million a year ago. Client networks expanded to include kimono wholesalers, handling jewelry & clothing accessories, too. New items added, precious metal products such as works of arts, clothing accessories, etc. The net profit was posted at Yen 5 million, up from Yen 2 million a year ago.
For the current term ending Apr 2009 the net profit is projected at a similar amount of Yen 5 million, on a 4% rise in turnover, to Yen 750 million. Business is seen on the uptrend with clientele networks continuing expanding.
The financial situation is considered RATHER WEAK but should be good for MODERATE business engagements.
REGISTRATION
Date Registered: May 2003
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 1,600 shares
Issued: 400 shares
Sum: Yen 20 million
Major shareholders (%)
Yosuke Nishimura & families (--100)
No. of shareholders: 7
Nothing detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales polished diamonds, other precious colored stones, diamond-bedded jewelry, precious metal jewelry, works of arts, clothing accessories, other (--100%)
Goods are imported from India, Belgium, etc.
Clients
[Jewelry processors, jewelry stores, wholesalers, kimono wholesalers] Kyocera Corp, Imayo Jewelry, Urai Co, Tsukaki Co, other
No. of accounts: 100
Domestic areas of activities: Centered in greater-Osaka, including Kyoto
Suppliers
[Mfrs, wholesalers] Imports from India, Belgium, etc.
Payment record: Regular
Location: Business area in Osaka. Office premises at the caption address are leased and maintained satisfactorily.
Bank References
MUFG (Nishi-Shinsaibashi)
Kyoto Shinkin Bank (H/O)
Relations: Satisfactory
FINANCES: (In Million Yen)
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Terms Ending: |
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30/04/2009 |
30/04/2008 |
30/04/2007 |
30/04/2006 |
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Annual
Sales |
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750 |
720 |
594 |
523 |
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Recur.
Profit |
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Net
Profit |
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5 |
5 |
2 |
5 |
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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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31 |
26 |
24 |
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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 |
4.17 |
21.21 |
13.58 |
16.22 |
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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 |
0.67 |
0.69 |
0.34 |
0.96 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) for the 30/04/2009 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.46.43 |
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UK Pound |
1 |
Rs.85.38 |
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Euro |
1 |
Rs.67.95 |
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%)