MIRA INFORM
REPORT
|
Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMI IMPEXCO LTD |
|
|
|
|
Registered Office : |
1-12-6 Misuji
Taitoku |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.07.2011 |
|
|
|
|
Date of Incorporation : |
April
1993 |
|
|
|
|
Com. Reg. No.: |
(Tokyo-Taitoku) 022046 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import,
wholesale of polished diamonds,
precious metals, jewelry products |
|
|
|
|
No. of Employees : |
08 |
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Japan |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
AMI IMPEXCO LTD
Ami Impex KK
Masuda Bldg 5F, 4-5-7 Taito Taitoku Tokyo 110-0016
JAPAN
Tel:
03-3832-3006 Fax: 03-3832-3002
* Registered at 1-12-6 Misuji Taitoku Tokyo
E-Mail address: kunphuraj@yahoo.com
Import,
wholesale of polished diamonds, precious metals, jewelry products
Kofu,
Kobe, Osaka
Ueno
India
(Raj Gems – Headquarters), Bangkok, Hong Kong, Belgium, USA
(subcontracted)
RAKESH
J SHAH, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR
A/SALES Yen 4,650 M
PAYMENTS REGULAR CAPITAL Yen 100 M
TREND STEADY WORTH Yen
183 M
STARTED 1993 EMPLOYES 8
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS
& JEWELRY, OWNED BY RAJ GEMS, INDIA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Raj Gems, India as its marketing office in Japan. Rakesh J Shah was appointed as its representative. He is elder son of J B Shah, founder and owner of Raj Gems, India. This is a trading firm specializing in importing & wholesaling polished diamonds from India, and from Israel, Belgium, Hong Kong, etc. About 60% of the goods are supplied from Raj Gems. Goods are shipped to jewelry processors, jewelers centrally in greater-Tokyo area, extending into Kofu, Yamanashi-Pref, a hub of jewelry factories and workshops, where the firm operates a branch office. Also covers greater-Osaka region by its Osaka and Kobe Branch Offices. Has two subsidiary firms. Diamonds are partially subcontracted mfg into jewelry products to local jewelry processors. Operates a retail store in Ueno, Tokyo.
Financials are only partially disclosed. We have obtained the following figures directly from the owner, Rakesh J Shah, himself.
The sales volume for Jul/2011 fiscal term is estimated amounted to Yen 4,650 million, a 14% up from Yen 4,075 million in the previous term. Demand revived. Exports to China, Thailand and other S/E Asian countries were robust, not only from Japan but also from India (acting as commission exporter from India). The net profit was posted at Yen 13 million, compared with Yen 8 million a year ago.
For the current term ending Jul 2012 the net profit is projected at Yen 15 million, on a 3% rise in turnover, to Yen 4,800 million. Exports continue growing. Business is seen steadily expanding.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr 1993
Regd No.: (Tokyo-Taitoku) 022046
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized: 2,000
shares
Issued: 2,000
shares
Sum: Yen
100 million
Major shareholders (%):
Rakesh J Shah (100)
Nothing
detrimental is known as to his commercial morality of executives.
Activities: Imports, exports and wholesales and retails polished diamonds, tanzanite gems, ruby, sapphire, opal, other gem stones & precious metals, engagement rings, jewelry products (--100%).
60% of the goods are supplied from Raj Gems, India, other from Israel, Belgium, Hong Kong, Thailand, etc.
Diamonds and precious metals are partially subcontracted mfg to local processors into jewelry products.
Clients: [Jewelers, jewelry processors, consumers] Lucky Co, Kashikey, Gem Trading,
Taniguchi Hoshoku, Taniguchi Jewelry, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Raj Gems, Mohit Diamonds (--India), Kay Diamonds NV (Belgium), ESPEKA, other.
Payment record:
Regular
Location:
Business area Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
· Bank of India (Tokyo)
· Resona Bank (Ueno)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/07/2012 |
31/07/2011 |
31/07/2010 |
31/07/2009 |
|
Annual
Sales |
|
4,800 |
4,650 |
4,075 |
3,571 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
15 |
13 |
8 |
7 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
183 |
110 |
104 |
|
Capital,
Paid-Up |
|
|
100 |
40 |
40 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
3.23 |
14.11 |
14.11 |
2.03 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.31 |
0.28 |
0.20 |
0.20 |
|
Notes: Financials are only partially disclosed. We have obtained these figures directly from
the owner himself.
Forecast (or estimated) figures for the 31/07/2012 fiscal
term.
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the untiring
and unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
The diamond jewellery industry in India today may be more than Rs 60000
mil and is rated amongst the fastest growing in the world. Indi ranks
third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
DIAMOND SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name of their diamond
business has been diverted in real estate and the share market. The banks are
not in a position to seize their properties because in many cases, these were
purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.20 |
|
UK Pound |
1 |
Rs.81.50 |
|
Euro |
1 |
Rs.67.15 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.