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Report Date : |
14.08.2012 |
IDENTIFICATION DETAILS
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Name : |
AMI IMPEXCO LTD |
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Registered Office : |
1-12-6 Misuji Taitoku Tokyo |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
April 1993 |
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Com. Reg. No.: |
(Tokyo-Taitoku) 022046 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of polished
diamonds, precious metals, jewelry products |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
REGD NAME: Ami
Impex KK
MAIN OFFICE: 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: kunthuraj@amiimpex.net
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 3,900 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 100 M
TREND SLOW WORTH Yen
175 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.
The sales volume for Jul/2011 fiscal term amounted to Yen 3,900 million, a 4% down from Yen 4,075 million in the previous term. Consumer spending was sluggish for high-end products. The earthquake in March 2011 was a blow. Demand declined. The net profit was posted at Yen 5 million, compared with Yen 8 million a year ago.
For the current term ending Jul 2012 the net profit is projected at Yen 5 million, on a 3% rise in turnover, to Yen 4,000 million.
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: No Complaints
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 |
|
4,000 |
3,900 |
4,075 |
3,571 |
|
Recur.
Profit |
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|
|
|
Net
Profit |
|
5 |
5 |
8 |
7 |
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Total
Assets |
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|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
175 |
110 |
104 |
|
Capital,
Paid-Up |
|
|
100 |
40 |
40 |
|
Div.P.Share(₯) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.56 |
-4.29 |
14.11 |
2.03 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
0.13 |
0.13 |
0.20 |
0.20 |
|
Notes: Financials are only partially disclosed.
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.
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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.
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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.
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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.
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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.55.42 |
|
UK Pound |
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 SCs 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.