MIRA INFORM REPORT

 

 

Report Date :

22.06.2011

 

IDENTIFICATION DETAILS

 

Name :

GEM PLAZA WING (SOLE PROPRIETORSHIP)

 

 

Registered Office :

2-4-6 Tokugyo Kofu City Yamanashi-Pref 400-0047

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

October 2003

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Import, wholesale of 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

 

Name and address

 

GEM PLAZA WING (SOLE PROPRIETORSHIP)

REGD NAME:    Gem Plaza Wing (Sole proprietorship & not registered)

MAIN OFFICE:  2-4-6 Tokugyo Kofu City Yamanashi-Pref 400-0047 JAPAN

                        Tel: 055-236-6220     Fax: 055-236-6220

 

URL:                 N/A

 

 

ACTIVITIES

 

Import, wholesale of diamonds, jewelry products

 

BRANCHES   

 

Nil

 

FACTORIES

 

(subcontracted)

 

 

OFFICER(S)  

 

SATOSHI YODA, PROPRIETOR

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK                       A/SALES          Yen 140 M

PAYMENTS                  REGULAR                     CAPITAL           - - -

TREND             SLOW                          WORTH            Yen 30 M

STARTED                     2003                             EMPLOYES      1

 

COMMENT

 

SOLE PROPRIETOR FOR IMPORT AND WHOLESALE OF DIAMONDS & JEW-

ELRY PRODUCTS. 

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

                       

HIGHLIGHTS

 

The subject firm is a sole proprietorship started by Satoshi Yoda in order to make most of his experience in the subject line of business.  Operating from S Yoda’s home residence, the firm specializes in import and wholesale of loose diamonds.  Diamonds are processed into engagements rings, wedding rings, and other jewelry products.  Processing is subcontracted to local factories.  Goods are imported from India centrally, also supplied from domestic suppliers.  One of the major clients is a nail-care saloon/shop operator, Chiba, main items being diamond-studded nail enamels.  Financials are not made public and only partially disclosed.

 

 

FINANCIAL INFORMATION

 

The sales volume for Dec/2010 fiscal term amounted to Yen 140 million, an 8% up from Yen 130 million in the previous term.  This is partially attributed to the price hike of platinum.  The net profit is estimated posted at Yen 3 million, similarly a year ago. 

 

For the current term ending Dec 2011 the net profit is projected at 3 million, on a 4% rise in turnover, to Yen 145 million. 

 

The financial situation is considered RATHER WEAK but should be good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Not registered

(Founded Oct/2003)

Legal Status:      Sole Proprietorship

Net Worth:          Estimated at Yen 24 million.

 

The subject firm is a sole proprietorship, owned & operated by Satoshi Yoda.  The net worth is estimated at Yen 30 million which derived from his past savings.

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Imports and wholesales precut diamonds, jewelry products (100%).

Diamonds are imported from India centrally.

Partially processes (subcontracted with local processors) them into engagement rings, marriage rings, other jewelry products.

 

Clients: [Jewelry processors, jewelry stores] One Carat Co, other.

No. of accounts: Limited

Domestic areas of activities: Centered in Kofu City

Suppliers: [Mfrs, wholesalers] Imports from India centrally. 

Also from Ami Impex Co, and other domestic suppliers.

 

Payment record: Regular

 

Location: Business area in Kofu City, Yamanashi-Pref.  Office premises at the caption address are owned by S Yoda as his private residence and maintained satisfactorily.

 

Bank References:        Kofu Shinkin Bank (Nishi)

                                    Yamanashi Chuo Bank (Mitsugukawa)

Relations: Money deposits & transfers only

 

 

FINANCES

 (In Million Yen)

 

Terms Ending:

　

31/12/2011

31/12/2010

31/12/2009

31/12/2008

Annual Sales

　

145

140

130

150

Recur. Profit

　

　

　

　

　

Net Profit

　

3

3

3

4

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

30

27

24

Capital, Paid-Up

　

　

- - -

- - -

　        - - -

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.57

7.69

-13.33

-16.67

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

2.07

2.14

2.31

2.67

 

Notes: Financials are only partially disclosed.

Forecast (or estimated) figures for the 31/12/2011 fiscal term.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.91

UK Pound

1

Rs.72.89

Euro

1

Rs.64.48

 

 

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.