MIRA INFORM REPORT
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Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
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Name : |
PRITI GEMS CO LTD |
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Registered Office : |
Satoh Bldg 405, 3-43-10 Taito Taitoku
Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
April 1998 |
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Com. Reg. No.: |
(Tokyo-Taitoku) 016010 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Import, wholesale
of polished diamonds |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Japan |
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 |
Company name
PRITI GEMS CO LTD
REGD NAME
YK Priti Gems
MAIN OFFICE
Satoh Bldg 405, 3-43-10 Taito Taitoku Tokyo 110-0016 JAPAN
Tel:
03-5812-7977 Fax: 03-5812-7976
URL: N/A
ACTIVITIES
Import,
wholesale of polished diamonds
BRANCHEs
Kofu
FACTORIES
(subcontracted)
OFFICERS
NAYAN
SHAH, PRES (Indian resident)
Noboru
Koyama, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 920 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
54 M
STARTED 1998 EMPLOYES 8
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED
DIAMONDS.
FINANCIAL
SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject company was established by Nayan Shah, an Indian
businessman, in order to make most of his over 10 years’ experience in the
subject line of business. A resident of
Japan for nearly 20 years, speaking fluent Japanese, he had cultivated a wide
business network in Japan, which prompted him to start his own company jointly
with Noboru Koyama, says Nayan Shah.
This is a trading firm specializing in import and wholesale of polished
and pre-cut diamonds. 80% of the products are imported from India,
other from Hong Kong, Thailand, Israel, Belgium, etc. Has a branch office in Kofu City,
Yamanashi-Pref, hub of Jewelry mfrs, processors and wholesalers. Goods are shipped to jewelers, chain stores
centering in greater-Tokyo region. The
stones are partially subcontracted mfg to domestic jewelry makers into jewelry
products.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Dec/2010 fiscal term amounted to Yen 920 million, a
15% down from Yen 1,080 million in the previous term, as affected by the global
economic downturn, particularly in the first half of the term. Consumer spending was sluggish particularly
for jewelry, art and other big-ticket items.
Sales dropped substantially. The
net profit was posted at Yen 7 million, compared with Yen 13 million net profit
a year ago.
For the current term ending Dec 2011 the net profit is projected at Yen
8 million, on a 5% rise in turnover, to Yen 970 million.
The financial situation is considered RATHER WEAK but should be good for
MODERATE business engagements.
REGISTRATION
Date Registered: Apr 1998
Regd No.: (Tokyo-Taitoku) 016010
Legal Status:
Private Limited Company (Yugen Kaisha)
Regd Capital: Yen 10 million
Major shareholders (%): Noboru Koyama (50), Nayan Shah
(45)
No. of
shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and
wholesales polished diamonds (eight-cut diamonds, fancy sized diamonds,
small brilliants, polished, medium-sized diamonds, large-sized
diamonds), other gem stones (--100%).
Goods are imported from India (80%) centrally, other from Hong Kong,
Israel, Belgium, etc.
Diamonds are partially subcontracted mfg to local jewelry processors
into products & accessories.
Clients: [Jewelry stores,
jewelry processors, chain stores] K2 Diamond, Komiya, Kuwari Hoshoku,
Oriental Diamond, Four Stars, GN Co, other.
Also exports to Singapore, Hong Kong, Thailand, etc.
No. of accounts: 400
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Imports from India (80%), other from Israel (10%), Belgium, Hong
Kong, Thailand, etc. Jewelry products are supplied from domestic subcontracted
jewelry processors.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
Asahi Shinkin Bank (H/O)
SMBC (Ueno)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
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Annual
Sales |
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970 |
920 |
1,080 |
1,325 |
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Recur.
Profit |
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Net
Profit |
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8 |
7 |
13 |
4 |
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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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54 |
47 |
34 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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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 |
5.43 |
-14.81 |
-18.49 |
-13.46 |
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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 |
0.82 |
0.76 |
1.20 |
0.30 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for 31/12/2011 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.44.42 |
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UK Pound |
1 |
Rs.72.70 |
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Euro |
1 |
Rs.63.55 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.