MIRA INFORM REPORT
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Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
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Name : |
CROSSFOR CO LTD |
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Registered Office : |
1-2-60 Asake Kofu City Yamanashi-Pref
400-0862 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2010 |
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Date of Incorporation : |
August 1987 |
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Com. Reg. No.: |
(Yamanashi-Kofu) 001062 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Wholesale, Retail of diamonds, other precious
stones |
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 : |
Moderate |
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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
|
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
CROSSFOR CO LTD
REGD NAME
KK Crossfor
MAIN OFFICE
1-2-60 Asake Kofu
City Yamanashi-Pref 400-0862 JAPAN
Tel:
055-226-9995 Fax: 055-226-9991
E-Mail address: info@crossfor.com
ACTIVITIES
Import,
wholesale, retail of diamonds, other precious stones
SHOPS
Ginza (opened
in Nov/2010), In shops at department stores, nationwide
FACTORIES
(subcontracted)
OFFICER(S)
HIDETAKA
DOBASHI, PRES
Toshio
Ishikawa, s/mgn dir
Akihiko
Naito, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 1,157 M
PAYMENTS REGULAR CAPITAL Yen 272 M
TREND SLOW WORTH Yen
175 M
STARTED 1987 EMPLOYES 30
COMMENT
IMPORTER
AND WHOLESALER SPECIALIZING IN DIAMONDS & JEWELRY PRODUCTS.
FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD
ROR MODERATE BUSINESS ENGAMENTS.
HIGHLIGHTS
The subject company was established by Hidetaka Dobashi in order to make
most of his experience in the subject line of business. The firm was originally named as Sibado Co
Ltd and was renamed as captioned in May 2002 as captioned after absorbing
sister companies. The firm specializes
in import and wholesale of precut diamonds, other precious stones. Goods are imported from India, Thailand, Sri
Lanka, USA, etc. Clients are domestic
department stores (in-shops at department stores nationwide from Hokkaido to
Okinawa), chain stores, jewelry stores, jewelry processors, etc, nationwide.
FINANCIALS INFORMATION
Financials are only partially disclosed as is the case with family-based
companies.
The sales volume for Jul/2010 fiscal term amounted to Yen 1,157 million,
a12% up from Yen 1,035 million in the previous term. The operations came back to profitability
after deficit operations for previous two consecutive years and posted Yen 18
million net profits, compared with Yen 33 million net losses a year ago.
For the current term ending Jul 2011 the net profit is projected at Yen
20 million, on a 4% rise in turnover, to Yen 1,200 million. Consumer spending recovered particularly for
jewelry and other big-ticket items, as reported. New store opened in Ginza will contribute to
sales growth.
The financial situation is considered RATHER WEAK but should be good for
MEODERATE business engagements. Negative net worth.
REGISTRATION
Date Registered: Aug 1987
Regd No.: (Yamanashi-Kofu) 001062
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
9,000 shares
Issued:
5,541 shares
Sum: Yen 272,525,000.00
Major shareholders (%): Hidetaka Dobashi (39), Sachiko
Dobashi (14), Genki Dobashi (10), other
No. of shareholders: 74
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports,
wholesales and retails diamonds, rubies, emerald, sapphire, zircon, other precious
gemstones (--100%).
Goods are imported from India, Thailand, Sri Lanka, USA, etc.
Clients: Department
stores, chain stores, jewelry processors, consumers, other.
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from India, Thailand, Sri Lanka, USA, other.
Payment record: Regular
Location: Business area in
Kofu City, Yamanashi-Pref. Office
premises at the caption address are owned and maintained satisfactorily.
Bank References:
Kofu Shinkin
Bank (H/O)
SMBC
(Kofu)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/07/2011 |
31/07/2010 |
31/07/2009 |
31/07/2008 |
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Annual
Sales |
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1,200 |
1,157 |
1,035 |
1,562 |
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Recur.
Profit |
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Net
Profit |
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20 |
18 |
-33 |
-278 |
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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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175 |
157 |
190 |
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Capital,
Paid-Up |
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|
272 |
272 |
272 |
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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 |
3.72 |
11.79 |
-33.74 |
-14.88 |
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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 |
1.67 |
1.56 |
-3.19 |
-17.80 |
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Notes: Financials are only partially
disclosed.
Forecast
(or estimated) figures for the 31/07/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.42 |
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UK Pound |
1 |
Rs.72.49 |
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Euro |
1 |
Rs.63.87 |
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.