MIRA INFORM REPORT

 

 

Report Date :

21.09.2011

 

IDENTIFICATION DETAILS

 

Name :

KINGSTONE LTD

 

 

Registered Office :

1-12-3 Tohkohji Kofu Yamanashi-Pref 400-0807

 

 

Country :

Japan

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

April 1992

 

 

Com. Reg. No.:

(Yamanashi-Kofu) 000787

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Import, wholesale of diamonds

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – 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 and address

 

KINGSTONE LTD

REGD NAME:    YK Kingstone

MAIN OFFICE:  1-12-3 Tohkohji Kofu Yamanashi-Pref 400-0807 JAPAN

                        Tel: 055-227-6224     Fax: 055-227-6222

 

URL:                 N/A

 

 

ACTIVITIES

 

Import, wholesale of diamonds

 

BRANCHES   

 

Nil

 

FACTORIES  

 

(subcontracted)

 

 

OFFICER(S)

 

MAKOTO FUKUSHI, PRES

Hiromi Fukushi, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    R/WEAK                       A/SALES          Yen 45 M

PAYMENTS                  REGULAR                     CAPITAL           Yen 3 M

TREND             SLOW                          WORTH            Yen 25 M

STARTED                     1992                             EMPLOYES      1

 

 

COMMENT    

 

IMPORTER AND WHOLESALER OF DIAMONDS. 

FINANCIAL SITUATION CONSIDERED RATJER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

           

            The subject company was established by Makoto Fukushi in order to make most of his experience in the subject line of business.  This is a family-based trading firm, operated from private residence, for importing and wholesaling polished diamonds and diamond jewelry.  Diamonds are wholesaled and partially subcontracted mfg to local processors into diamond jewelry.  Clients are local jewelry processors, jewelers, individual customers, other.

           

 

FINANCIAL INFORMATION

 

            Financials are only partially disclosed.

 

The sales volume for Dec/2010 fiscal term amounted to Yen 45 million, a 44% down from Yen 80 million in the previous term, as substantially affected by the global economic downturn, particularly in the first half of the term.  Consumer spending was extremely sluggish particularly for jewels, and other big-ticket items, which are not for immediate necessities.  Some jewelry stores closed or cut staff.  The net profit was posted at a minimum amount post-taxes.

 

For the current term ending Dec 2011 the net profit is projected to remain at a minimum amount post-taxes, on an 11% rise in turnover, to Yen 50 million.  Some recovery is seen in consumer spending but still weak. 

 

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

 

 

REGISTRATION

 

Date Registered:　       Apr 1992

Regd No.:                                 (Yamanashi-Kofu) 000787

Legal Status:               Private Limited Company (Yugen Kaisha)

Regd Capital:               Yen 3 million

Major shareholders (%): Makoto Fukushi (83), Hiromi Fukushi (17)

No. of shareholders:    2

 

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

 

 

OPERATION

 

Activities: Imports and wholesales polished diamonds, diamond jewelry (--100%)

 

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

 

Clients: [Jewelry processors, Jewellers] Tamura Shokai, Gem Select, L Jewelry, Sanpo, other.

No. of accounts: 100

Domestic areas of activities: Centered in Yamanashi-Pref extending into Tokyo.

Suppliers: [Mfrs, wholesalers] Shrenuj & Co Ltd (80%), other.

 

Payment record: Regular

 

Location: Business area in Kofu City.  Office premises at the caption address are owned by M Fukushi as his private residence and maintained satisfactorily.

 

Bank References:

Yamanashi Shinkin Bank (H/O)

Resona Bank (Kofu)

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

　

50

45

80

180

Recur. Profit

　

　

　

　

　

Net Profit

　

0

0

0

1

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

25

25

25

Capital, Paid-Up

　

　

3

3

3

Div.P.Share(¥)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

11.11

-43.75

-55.56

-18.18

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

0.00

0.00

0.00

0.56

 

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.48.22

UK Pound

1

Rs.75.63

Euro

1

Rs.65.64

 

 

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.