MIRA INFORM REPORT

 

 

Report Date :

11.08.2011

 

IDENTIFICATION DETAILS

 

Name :

UCHIHARA CO LTD

 

 

Registered Office :

7-2-7 Roppongi Minatoku Tokyo 106-8518

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2010

 

 

Date of Incorporation :

January  1961

 

 

Com. Reg. No.:

(Osaka-Izumisano) 005456

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Wholesale, Retail of polished diamonds, 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 :

Moderate

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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

 

UCHIHARA CO LTD

 

 

REGD NAME 

 

KK Uchihara

 

 

MAIN OFFICE

 

7-2-7 Roppongi Minatoku Tokyo 106-8518 JAPAN

Tel: 03-3478-0303     Fax: 03-3476-0093

                       

*.. Registered and Osaka Office at: 1-10-4 Namba-Naka Naniwaku Osaka

 

URL:                 http://www.uchihara.com/

E-Mail address: (thru the URL

 

 

ACTIVITIES

 

Import, wholesale, retail of polished diamonds, jewelry products

 

 

BRANCHES   

 

Osaka, Kishiwada, Izumisano; Milan (Representative Office)         

 

 

STORES  

 

At the caption address, Osaka (3)

 

 

OFFICER(S)

 

Keisuke Uchihara, ch                 ICHIRO UCHIHARA, PRES

Sumio Kawasaki, dir                  Motohiro Katoh, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 4,963 M

PAYMENTS      REGULAR                     CAPITAL           Yen 90 M

TREND SLOW                          WORTH            Yen 3,992 M

STARTED         1961                             EMPLOYES      116

 

COMMENT    

 

IMPORTER, WHOLESALER & RETAILER SPECIALIZING IN DIAMONDS & JEWELRY PRODUCTS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

                         

 

HIGHLIGHTS

 

The subject company was established originally in 1920 by Kaname Uchihara, on his account.  Keisuke is the 3rd generation master and Ichiro the 4th.  This is a trading firm specializing in importing and wholesaling polished, loose diamonds and other gemstones.  Also handles fingerings, pendants, and other jewelry.  Imports an average of 100,000 carats of diamonds a year.  Import sources are India, Israel, Belgium, Italy (mainly named jewelry brands), Russia, USA, etc.  The firm has a well-established relationship with India.  In Feb 2002, the firm received the 11th “Highest Importer Prize” from the Indian Government as the top diamond importer (the first having been awarded in 1993). 

 

The firm opened the first in-shop store in Takashimaya Osaka in 1968 and expanded in-shops into all Takashimaya Department Store group nationwide (now totaling 9 stores).  Has a representative office in Milan, Italy, opened in 1991.  Operates 3 direct-run stores in Tokyo and Osaka.  Manages 4 group firms: Kunita Co, Coriolis Co, Takara Co and Mec International Co Ltd (acquired in 2006 as a wholly owned subsidiary)..

           

 

FINANCIAL INFORMATION

 

The sales volume for Jul/2010 fiscal term amounted to Yen 4,963 million, an 8% down from Yen 5,408 million in the previous term.  Consumer spending was sluggish particularly for luxurious goods under the economic downturn.  The recurring profit was posted at Yen 64 million and the net profit at Yen 8 million, respectively, compared with Yen 79 million recurring profit and Yen 40 million net profit, respectively, a year earlier. 

 

For the current term ending Jul 2011 the recurring profit is projected at Yen 65 million and the net profit at Yen 10 million, respectively, on a 3% rise in turnover, to Yen 5,100 million. 

 

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

 

REGISTRATION

 

Date Registered:  Jan 1961

Regd No.:         (Osaka-Izumisano) 005456

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         720,000 shares

Issued:                180,000 shares

Sum:                   Yen 90 million

Major shareholders (%): Takara Co** (29), Kunita Co Ltd*(24.5), Keisuke Uchihara (14.9), Sumi Uchihara (14.4), Ichiro Uchihara (10)

 

*.. Wholesaler/retailer of jewelry at the caption address, wholly owned by KK Uchihara, with management & operations fully integrated, founded 1971, capital Yen 45 million, turnover Yen 4,777 million, net profit Yen 14 million, employees 61, pres Ichiro Uchihara concurrently.

 

** Subsidiary retailer of jewelry products

 

No. of shareholders: 6

 

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

 

 

OPERATION

 

Activities: Imports, wholesales and retails polished diamonds, other precious stones (--90%), fingerings, pendants, earrings, bracelets, necklaces, others (--10%). 

Operates 3 direct-run stores.

(Import 60%; wholesale 90%, retail 10%).

 

(Handling brands): Casare de Vecchi, Roberta, Argyle, L’Exception SDC, Aletta, Serendity, Siglo, Nogizaka, Akane Teshigahara, other.

 

Clients: [Department stores, jewelry processors, consumers] Takashimaya Department     Store (major client), Kunita Co (subsidiary), Isetan, Mitsukoshi, Hankyu Department Stores,        Kintetsu Department Store, other.

No. of accounts: 200 (Direct clients of wholesale div)

Domestic areas of activities: Nationwide

Suppliers: [Mfrs, wholesalers] Imports from India centrally, other from Israel, Belgium, Russia, Italy, USA, India, S Africa, etc.

Domestic suppliers: Kunita Co, Mitsuba Boeki Co, Kashikei Co, Kuwayama Corp, other.

 

Payment record: Regular

 

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

 

Bank References:

Ikeda Senshu Bank (Izumi-Sano)

MUFG (Namba)

Relations: Satisfactory

FINANCES

 (In Million Yen)

 

       Terms Ending:

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Annual Sales

　

5,100

4,963

5,408

7,075

Recur. Profit

　

65

64

79

101

Net Profit

　

10

8

40

31

Total Assets

　

　

9,573

11,182

11,875

Current Assets

　

　

5,296

8,651

7,058

Current Liabs

　

　

1,957

3,309

3,235

Net Worth

　

　

3,992

4,020

4,002

Capital, Paid-Up

　

　

90

90

90

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

2.76

-8.23

-23.56

-22.48

    Current Ratio

 

..

270.62

261.44

218.18

    N.Worth Ratio

..

41.70

35.95

33.70

    R.Profit/Sales

 

1.27

1.29

1.46

1.43

    N.Profit/Sales

0.20

0.16

0.74

0.44

    Return On Equity

..

0.20

1.00

0.77

 

Notes: Forecast (or estimated) figures for the 31/07/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.20

UK Pound

1

Rs.73.51

Euro

1

Rs.64.76

 

 

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.