MIRA INFORM REPORT

 

 

Report Date :           

26.04.2011

 

IDENTIFICATION DETAILS

 

Name :

KASHIKEY CO LTD

 

 

Registered Office :

Kashikey Bldg, 2-19-3 Shimbashi Minatoku Tokyo 105-0004

 

 

Country :

Japan

 

 

Financials (as on) :

28.02.2011

 

 

Date of Incorporation :

September 1970

 

 

Com. Reg. No.:

(Tokyo-Minatoku) 092511

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of diamonds, other gem stones, jewelry products

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Small Company 

Payment Behaviour :

Regular

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

KASHIKEY CO LTD

 

 

REGD NAME

 

KK Kashikey

 

 

MAIN OFFICE

 

Kashikey Bldg, 2-19-3 Shimbashi Minatoku Tokyo 105-0004 JAPAN

Tel: 03-3575-0810 

 

URL:                             http://www.kashikey.co.jp/

E-Mail address:                        info@kashikey.co.jp

 

 

ACTIVITIES  

 

Import, wholesale of diamonds, other gem stones, jewelry products

 

 

BRANCHES   

 

Nagoya, Kofu

 

 

OVERSEAS

 

Belgium, Israel, India (Mumbai), Hong Kong (--representative offices)

Key Diamond (Belgium), Kashikey Taiwan (Taiwan) (--subsidiaries)

 

 

FACTORIES  

 

(subcontracted)

 

OFFICER(S)

 

Hisao Katoh, ch                                    

KAZUYA TAGUCHI, PRES & CEO

Hidetaka Katoh, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 10,980 M

PAYMENTS      REGULAR                     CAPITAL           Yen 310 M

TREND             STEADY                       WORTH            Yen 4,930 M

STARTED                     1970                             EMPLOYES      222

 

 

COMMENT

 

IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS AND JEWELRY PRODUCTS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established originally in 1923 by Hidemitsu Katoh as a jewelry store.   In 1970 incorporated by Hidetaka Katoh, son of Hidemitsu.  This is a specialized trading firm for import and wholesale of diamonds, other gem stones, and jewelry products.  Diamonds and jewelry products are imported widely from Belgium, Israel, India, USA, Germany, Thailand, Hong Kong, etc.  Has two overseas subsidiaries in Belgium and Taiwan, with purchasing offices in Belgium, India, Israel, and Hong Kong.  In 1984, signed sole import agency agreement with Niishing, Germany.  Clients are major jewelry processors, jewelry stores, chain stores, etc, nationwide.  Ranked 6th in sales amount among 2,693 firms in the similar business line nationwide.

 

 

FINANCIAL INFORMATION

 

The firm does not release full financials, except in digest form as follows;

 

The sales volume for Feb/2010 fiscal term amounted to Yen 6,125 million, a 31% down from Yen 8,897 in the previous term.  Consumer spending continued stagnant & sluggish, holding off on purchase of luxury goods and other big-ticket items that are not for immediate use.   The recurring profit was posted at Yen 20 million and the net losses at Yen 22 million, respectively, compared with Yen 224 million recurring loss and Yen 386 million net losses a year ago.

 

For the term that ended Feb 2011 the recurring profit was projected at Yen 25 million and the net profit at Yen 15 million, respectively, on a 6% rise in turnover, to Yen 6,500 million.  Final results are yet to be released.

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements. 

 

REGISTRATION

 

Date Registered: Sept 1970

Regd No.:         (Tokyo-Minatoku) 092511

Legal Status:   Limited Company (Kabushiki Kaisha)

Authorized:      2.48 million shares

Issued:            620,000 shares

Sum:                 Yen 310 million

 

Major shareholders (%): Kashikey Holdings Co* (38), Jiro Katoh (6), Hidetaka Katoh (5), Seiichi Katoh (5), Employees’ S/Holding Assn (4)

 

*.. Holding company owned by the Katoh family

 

No. of shareholders: 62

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Imports and wholesales polished diamonds (23.3%), diamond jewelry (51.8%), colored stone jewelry (5.1%), other previous stone jewelry (6.2%), pearl & jewelry (6.4%), others (7.2%). 

 

Goods are imported from Belgium, Israel, India, USA, Germany, Thailand, Hong Kong, other.  Mfg is mostly consigned to local jewelry processors.

 

Clients: [Department stores, jewelry processors, jewelry stores] Verite Ltd, Mitsukoshi, Marui, Star Jewelry, K Mikimoto & Co, Maruei Department Stores, Sadamatsu, Pola Cosmetics, other.

            No. of accounts: 2,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Meijido, Ishifuku Metal Ind, Hope International, Kunita Inc, Tokyo Pearl, Kajita Co, other. 

 

Imports from India (40%), other from Belgium, Israel, India, Thailand, Hong Kong, USA, Germany, etc.

Domestically supplied from: Ishifuku Metal Ind, Murao Co, Gem Int’l, Hope Int’l, Meijido Co, Kajita Co, other.

 

Payment record: Regular

 

Location: Business area in Tokyo.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Mizuho Bank (Yurakucho)

MUFG (Shimbashi-Ekimae)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

28/02/2011

28/02/2010

28/02/2009

29/02/2008

Annual Sales

　

6,500

6,125

8,897

10,980

Recur. Profit

　

25

20

-224

150

Net Profit

　

15

-22

-386

50

Total Assets

　

　

11,837

12,046

13,520

Current Assets

　

　

7,694

7,794

9,410

Current Liabs

　

　

5,661

6,008

6,830

Net Worth

　

　

4,496

4,518

4,930

Capital, Paid-Up

　

　

310

310

310

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

6.12

-31.16

-18.97

-10.95

    Current Ratio

 

..

135.91

129.73

137.77

    N.Worth Ratio

..

37.98

37.51

36.46

    R.Profit/Sales

 

0.38

0.33

-2.52

1.37

    N.Profit/Sales

0.23

-0.36

-4.34

0.46

    Return On Equity

..

-0.49

-8.54

1.01

 

Notes: Financials are disclosed in digest form only.

Forecast (or estimated) figures for the 28/02/2011 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.45

UK Pound

1

Rs.73.35

Euro

1

Rs.64.78

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.