MIRA INFORM REPORT

 

 

Report Date :           

19.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AS DIAMOND CO LTD 

 

 

Registered Office :

2623-106 Oosatocho Kofu Yamanashi-Pref 400-0053

 

 

Country :

Japan

 

 

Financials (as on) :

31.07.2010

 

 

Date of Incorporation :

August 2007

 

 

Com. Reg. No.:

(Yamanashi-Kofu) 005720

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of diamonds

 

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 :

Small Company 

Payment Behaviour :

Usually Correct 

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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  

 

AS DIAMOND CO LTD

 

 

REGD NAME 

 

KK A.S. Diamond (pronounced as Ei Esu)

 

 

MAIN OFFICE

 

2623-106 Oosatocho Kofu Yamanashi-Pref 400-0053 JAPAN

Tel: 055-243-0004     Fax: 055-243-0104

URL:                 N/A

 

 

ACTIVITIES  

 

Import, wholesale of diamonds

 

 

BRANCHES   

 

Nil

 

 

FACTORIES

 

(subcontracted)

 

 

OFFICER(S)  

 

SHAH AMIT JITENDRA, PRES (Indian resident)

 

Yen Amount:     In million Yen, unless otherwise stated

 

SUMMARY    

 

FINANCES                    FAIR                 A/SALES          Yen 250 M

PAYMENTS                  REGULAR         CAPITAL           Yen 5 M

TREND             STEADY           WORTH            Yen 30 M

STARTED                     2007                 EMPLOYES      4

                                                                       

 

COMMENT    

 

IMPORTER & WHOLESALER OF DIAMONDS. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS

 

 

HIGHLIGHTS

           

The subject company was established by Shah Amit Jitendra, an Indian resident, in order to make most of his business experience in the subject line of business.  He has been in Japan for eight years, speaking fluent Japanese, and had been engaged in jewelry business, on his account, until incorporated in Aug 2007.  Specializes in import and wholesale of diamonds essentially and partially colored stones.  Diamonds are imported solely from India.  Partially subcontracts mfg them into jewelry products to local jewelry processors.  

 

 

FINANCIAL INFORMATION

 

Sales volume for the Jul/2010 fiscal term was amounted to yen 250 million, a similar amount in the previous period.  Business is seen expanding.  The net profit was posted at Yen 10 million, similarly in the previous term. 

 

For the current term ending Jul 2011 the net profit is projected at Yen 10 million, on a 4% rise n turnover, to Yen 260 million. 

 

 

REGISTRATION

 

Date Registered:  Aug 2007

Regd No.:           (Yamanashi-Kofu) 005720

Legal Status:   　Limited Company (Kabushiki Kaisha)

Authorized:      　400 shares

Issued: 　            100 shares

Sum:                　Yen 5 million

Major shareholders (%):Shah Amit Jitendra (100)

 

Nothing detrimental is known as to his commercial morality.

 

OPERATION

 

Activities: Imports and wholesales polished, precut diamonds, from India (100%)

           

Diamonds are partially subcontracted mfg into jewelry products to local jewelry processors.

 

Clients: Jewelry processors, jewelry stores, chain stores in Kofu City (70%), in Tokyo area (30%).

            No. of accounts: 100

            Domestic areas of activities: Limited in Kofu City

 

Suppliers: [Mfrs, wholesalers] Imports from India.

 

Payment record: Regular

 

Location: Business area in Kofu City, Yamanashi-Pref.  Office premises at the caption address are leased and maintained satisfactorily.

 

Bank References:

Mizuho Bank (Kofu)

Relations: Money deposits & transfers only

 

 

FINANCES

(In Million Yen)

 

Terms Ending:

　

31/07/2011

31/07/2010

31/07/2009

31/07/2008

Annual Sales

　

260

250

250

200

Recur. Profit

　

　

　

　

　

Net Profit

　

10

10

10

5

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

30

20

10

Capital, Paid-Up

　

　

5

5

5

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

4.00

0.00

25.00

- - -

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

3.85

4.00

4.00

2.50

 

Notes: The 31/07/2008 fiscal term is the initial accounting term since inception.

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

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.08

UK Pound

1

Rs.73.45

Euro

1

Rs.64.30

 

 

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.