MIRA
INFORM REPORT
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Report Date : |
07.08.2010 |
IDENTIFICATION DETAILS
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Name : |
STYLE PEARL GEM LTD |
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Registered Office : |
5-1-23 Kagoikedori Chuoku |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
December 1975 |
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Legal Form : |
Private Limited Company |
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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 : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Name and address
STYLE PEARL GEM LTD
REGD NAME: YK Style
MAIN OFFICE: Ohtsuya Bldg 2F, 1-20-3 Higashiueno Taitoku
Tel: 03-3837-5479 Fax: 03-3837-5408
*.. Registered &
headquarters at: 5-1-23 Kagoikedori Chuoku Kobe 651-0053
URL: N/A
ACTIVITIES
Import,
wholesale of polished diamonds, pearls, other gem stones
BRANCHES
FACTORIES
(subcontracted)
OFFICER(S)
GUMNANI
G RUPCHAND, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 650 M
PAYMENTS REGULAR CAPITAL Yen 20 M
TREND SLOW WORTH Yen
130 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
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The
sales volume for Dec/2009 fiscal term amounted to Yen 650 million, a 24% drop
from Yen 850 million in the previous term.
Economic downturn has kept away consumers from purchasing luxuries that
are not for immediate needs. Wealthy
people, who had to buy luxury watches and the like, are holding off on making
new purchases, according to the Japan Department Stores Association. Department store sales fell 9.5% to 14% in
Apr 2009. Sales of art, jewelry and
other big-ticket nosedived 18.5% in Dec 2008.
Miki Corp, which operates jewelry store chains, filed for bankruptcy
protection with the Tokyo District Court on 21/01/2009, saddled with debts of
about Yen 11.7 billion. Yen’s advance
against US Dollars also affected the sales negatively in Yen terms. The net profit was posted at Yen 6 million,
compared with Yen 8 million a year ago.
For
the current term ending Dec 2010 the net profit is projected at Yen 5 million,
on a 3% fall in turnover, to Yen 630 million.
Consumer spending continues sluggish.
Department store sales fell 10% in Dec 2009, the Japan Department Stores
Assn reported. Department store closures
could hit all-time high this year. Hit
by slumping sales, major department store operators are being forced to close
unprofitable sites. At least eight
department stores are expected to shut down this year, approaching the record
11 stores closed in 2000.
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
Clients:
[Jewelry stores, jewelry processors] Savvy, Gosho, Daiwa Hoshoku, Taiho
Kikin-zoku, Komiya Co, Lucky Co, Hyuga Hoshoku, other.
No. of
accounts: 300
Domestic
areas of activities: Nationwide.
Suppliers:
[Mfrs, wholesalers] Mani Export, Dalumi Asher, Laxmi Diamond, Ip Patel, other
from
Payment record:
Regular
Location: Business area in
Bank References:
SMBC
(Midosuji)
MUFG
(Ueno-Chuo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2010 |
31/12/2009 |
31/12/2008 |
31/12/2007 |
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Annual Sales |
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630 |
650 |
850 |
850 |
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Recur. Profit |
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Net Profit |
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5 |
6 |
8 |
3 |
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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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130 |
125 |
117 |
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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 |
-3.08 |
-23.53 |
0.00 |
-5.56 |
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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 |
0.79 |
0.92 |
0.94 |
0.35 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2010 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.46.02 |
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1 |
Rs.73.21 |
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Euro |
1 |
Rs.60.70 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.