Mira Inform Report

 

 

Report Date :

18.08.2011

 

IDENTIFICATION DETAILS

 

Name :

CLASSIC DIAMONDS CO LTD

 

 

Registered Office :

Daini Orient Bldg 6/8F, 5-13-11 Ueno Taitoku Tokyo 110-0005

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

March 1996

 

 

Com. Reg. No.:

(Tokyo-Taitoku) 016888

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, Export, Wholesale of diamonds, jewelry products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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

 

CLASSIC DIAMONDS CO LTD

 

 

REGD NAME

 

KK Classic Diamonds

 

 

MAIN OFFICE

 

Daini Orient Bldg 6/8F, 5-13-11 Ueno Taitoku Tokyo 110-0005 JAPAN

Tel: 03-5817-3621     Fax: 03-5817-3622

 

* Moved to the caption address in Dec 2007 from the former at: Classic Bldg 2F, 3-12-5 Taito Taitoku Tokyo, as given, the address is registered address

 

URL:                 N/A

 

 

ACTIVITIES

 

Import, export, wholesale of diamonds, jewelry products

 

 

BRANCHES   

 

Nil

 

 

FACTORIES  

 

(subcontracted)

 

 

OFFICERS

 

MANOJ JAIN, PRES (Indian resident)

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES        FAIR                             A/SALES          Yen 7,500 M

PAYMENTS      REGULAR                     CAPITAL           Yen 65 M*

TREND SLOW                          WORTH            Yen 196 M

STARTED         1996                             EMPLOYES      12

                                   

           

COMMENT

 

IMPORTER, EXPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS AND JEWELRY PRODUCTS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established by Manoj Jain, an Indian businessman residing in Japan for over 20 years, in order to make most of his experience in the subject line of business.  This is a trading firm for import, export and wholesale of diamonds centrally, and other precious stones, fingerings, earrings, necklaces, bracelets, and other jewelry products.  Originally started as importer of polished diamonds and other gem stones, and recently added the export division for exporting Japan-made jewelry products to S/E Asian countries.  Diamonds and gem stones are imported from Belgium, India, Hong Kong, etc.  Stones are partially subcontracted mfg to local processors.  Clients are domestic jewelry stores, jewelry processors, chain stores, other. 

 

 

FINANCIAL INFORMATION

 

Financials are disclosed only partially.  The figures for the 31/03/2010 fiscal term have been collected verbally from Manoj Jain himself, as no other data base/outside sources have the figures as yet.  The figures have not been verified by outside sources.

 

The sales volume for Mar/2010 fiscal term amounted to Yen 7,500 million, a 20% down from Yen 9,424 million in the previous term.  Amid the global economic downturn consumer spending became sluggish.  Consumers were restraint in purchasing products that are not necessities.  Exports were hurt by the high Yen, reducing earnings and profits in Yen terms.  Sales of jewelry, apparel and other big-ticket items nosedived 18.5% in Dec 2008.  .The net profit was posted at Yen 10 million, compared with Yen 8 million a year ago.

 

For the current term ending Mar 2011 the net profit is projected at Yen 10 million, on a 1% rise in turnover, to Yen 7,600 million.  Consumer spending is still sluggish.  The firm sees the market will recover in the second half of this term. 

 

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

 

 

REGISTRATION

 

Date Registered:  Mar 1996

Regd No.:          (Tokyo-Taitoku) 016888

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         4,000 shares

Issued:                1,300 shares

Sum:                   Yen 65 million

Major shareholders (%): Dia Impex (70), Manoj Jain (30)

No. of shareholders: 2

 

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

 

 

OPERATION

 

Activities: Imports and wholesales diamonds, sapphires, other precious & colored stones, fingerings, earrings, necklaces, bracelets, other jewelry products (--80%), exports Japan-made jewelry products (--20%). 

 

Clients: [Jewelry stores, jewelry processors] Nagahori, Sanki Ever Sangyo, Jewelry Fond Co, Nitto Co, Pigeon Jewelry, Fourstar Co, other. 

 

Exports to Venus Jewelry, Dia Impex, other.

 

No. of accounts: 300

 

Domestic areas of activities: Centered in greater-Tokyo

 

Suppliers: [Mfrs, wholesalers] Imports from India, Belgium, Hong Kong, other

 

Payment record: Regular

 

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

 

Bank References:

Bank of India (Tokyo)

Mizuho Bank (Ueno)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/03/2011

31/03/2010

31/03/2009

31/03/2008

Annual Sales

　

7,600

7,500

9,424

9,362

Recur. Profit

　

　

　

　

　

Net Profit

　

10

10

8

36

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

196

189

184

Capital, Paid-Up

　

　

65

65

65

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

S.Growth Rate

1.33

-20.42

0.66

12.86

Current Ratio

 

 

..

..

..

N.Worth Ratio

 

..

..

..

N.Profit/Sales

0.13

0.13

0.08

0.38

 

Notes: Financials are only partially disclosed, except for the 31/03/2007 fiscal term disclosing in digest form.  The figures for the 31/03/2010 fiscal term have been verbally given from the firm’s president.  No other outside sources have the figures as yet.

 

Forecast figures for the 31/03/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.96

UK Pound

1

Rs.73.57

Euro

1

Rs.63.68

 

 

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

 

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.