MIRA
INFORM REPORT
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Report Date : |
24.01.2012 |
IDENTIFICATION DETAILS
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Name : |
J TRADING CO LTD |
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Registered Office : |
Ohmiya Bldg 3F, 5-13-9 Ueno Taitoku Tokyo 110-0005 |
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Country : |
Japan |
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Financials (as on) : |
31.08.2011 |
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Date of Incorporation : |
October 1987 |
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Legal Form : |
Limited Company |
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LINE OF BUSINESS : |
IMPORT, WHOLESALE OF POLISHED DIAMONDS, FINGERINGS, OTHER
JEWELRY |
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No. of Employees : |
9 |
RATING & COMMENTS
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MIRAs Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
J TRADING CO LTD
REGD NAME: J
Trading KK
MAIN OFFICE: Ohmiya
Bldg 3F, 5-13-9 Ueno Taitoku Tokyo 110-0005 JAPAN
Tel:
03-3834-0933 Fax: 03-3834-0919
E-Mail address: info@jt-net.co.jp
ACTIVITIES
Import, wholesale
of polished diamonds, fingerings, other jewelry
BRANCHES
Osaka, Fukuoka
FACTORIES
YK Cast Art, KK J Plan
(--subsidiaries)
OFFICERS
TAKESHI IWATA,
PRES Shinichi
Uehara, dir
Harumi Ochiai, dir Hideo
Tanahashi, dir
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 905 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
60 M
TREND SLOW WORTH Yen
161 M
STARTED 1987 EMPLOYES 9
COMMENT
IMPORTER AND WHOLESALER SPECIALIZING IN DIAMONDS AND OTHER JEWELRY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The subject company was established
originally in 1981 by Hirokazu Iwata in order to make most of in order to make
most of his experience in the jewelry business, on his account. Takeshi is the founders son, who took the
office of presidency in Mar 1991. This
is a specialized trading house, owned by the Iwata family, for import and
wholesale of polished & precut diamonds centrally, diamond imports
accounting for 90% of total sales. Also
handles fingerings, earrings, other jewelry products. Diamonds are imported from Belgium, Israel,
India, other. They are processed into
jewelry products by subsidiary mfr, YK Cast Art. Design and R&D works are handled by
subsidiary, KK J Plan. The operations
are totally handled by the group firms.
Known by sound management and operation with stable & solid
clientele networks. Clients are jewelry
stores, jewelry processors, others, nationwide.
FINANCIAL INFORMATION
The sales volume for Aug/2011 fiscal
term amounted to Yen 905 million, a 3% down from Yen 937 million in the
previous term. The recurring profit was
posted at Yen 2 million and the net profit at Yen 1 million, respectively,
compared with Yen 7 million recurring profit and Yen 4 million net profit,
respectively, a year ago.
For the current term ending Aug 2012 he
recurring profit is projected at Yen 5 million and the net profit at Yen 3
million, respectively, on a 3% rise in turnover, to Yen 910 million,
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 15.9
million, on 30 days normal terms.
REGISTRATION
Date Registered: Oct
1987
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,800 shares
Issued: 1,200 shares
Sum: Yen 60 million
Major shareholders (%): Takeshi Iwata
(70)
No. of shareholders: 7
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports and wholesales polished, precut
diamonds (90%), fingerings, other jewelry products (--10%).
Diamonds are
imported from Belgium, Israel, India, other.
Operations are all handled by the group
firms: YK Cast Art (jewelry processing) andKK J Plan (designing, planning,
R&D)
Clients: [Jewelry stores, jewelry processors]
Kirinya, Elizabeth Jewelry, other.
No. of accounts:
500
Domestic areas of
activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from Lily
Diamond, other from Belgium Israel, India, etc.
Also supplied from
Kashikey Co, Yama Co, Kinpodo, Cast Art (subsidiary), other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Asahi Shinkin Bank
(H/O)
MUFG (Ueno)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/08/2012 |
31/08/2011 |
31/08/2010 |
31/08/2009 |
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Annual
Sales |
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930 |
905 |
937 |
872 |
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Recur.
Profit |
|
5 |
2 |
7 |
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Net
Profit |
|
3 |
1 |
4 |
2 |
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Total
Assets |
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650 |
600 |
599 |
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Current
Assets |
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553 |
533 |
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Current
Liabs |
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380 |
371 |
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Net
Worth |
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161 |
151 |
146 |
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Capital,
Paid-Up |
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60 |
60 |
60 |
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Div.P.Share(₯) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.76 |
-3.42 |
7.45 |
-22.21 |
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Current Ratio |
|
.. |
145.53 |
143.67 |
.. |
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N.Worth Ratio |
.. |
24.77 |
25.17 |
24.37 |
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R.Profit/Sales |
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0.54 |
0.22 |
0.75 |
.. |
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N.Profit/Sales |
0.32 |
0.11 |
0.43 |
0.23 |
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Return On Equity |
.. |
0.62 |
2.65 |
1.37 |
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Notes: Forecast
(or estimated) figures for 31/08/2012 fiscal term.
DIAMOND INDUSTRY
INDIA
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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.
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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.
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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.
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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.
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.24 |
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|
1 |
Rs.78.13 |
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Euro |
1 |
Rs.64.79 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.