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Report Date : |
01.03.2012 |
IDENTIFICATION DETAILS
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Name : |
KASHIMA CO LTD |
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Registered Office : |
4-7-7 Nakano Nakanoku Tokyo 164-0001 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2011 |
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Date of Incorporation : |
September 1953 |
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Com. Reg. No.: |
0112-01-001166 (Tokyo-Nakanoku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, wholesale of polished diamonds, other previous stones, jewelry products |
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No. of Employees : |
90 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
KASHIMA CO LTD
REGD NAME: Kashima
Shoji KK
MAIN OFFICE: 4-7-7
Nakano Nakanoku Tokyo 164-0001 JAPAN
Tel:
03-3389-0151 Fax: 03-3389-0158
E-Mail address: a-sugiyama@r7.dion.ne.jp
Import, wholesale of
polished diamonds, other previous stones, jewelry products
Utsunomiya
New York, Bombay
(subcontracted)
SHIGEHIRO KASHIMA,
PRES Mitsuhiro Kashima, s/mgn dir
Saeko Masada, mgn
dir Noboru Shibaoka, mgn dir
Toshiko Kagayama,
mgn dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 6,224 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND STEADY WORTH Yen
281 M
STARTED 1953 EMPLOYES 90
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established
originally in 1946 by father of Shigehiro Kashima in order to make most of his
experience in the subject line of business, on his account. This is a trading house, owned & operated
by the Kashima family, for import and wholesale of polished, pink diamonds,
cats eyes, and other precious gem stones.
Goods are imported from Belgium, Israel, Sri Lanka, France, India, Hong
Kong, USA, etc. Diamonds are partially
processed on its own design on subcontracted mfg to local processors. Owns a subsidiary, Taiyo Shoji KK, a
wholesaler of paintings, earthenware, other works of art, Tokyo. Clients are major department stores,
supermarket chains, jewelry stores, other, nationwide.
Financials are only partially disclosed as
is the case with family-based companies.
The sales volume for Mar/2011 fiscal term
amounted to Yen 6,224 million, a 2% up from Yen 6,130 million in the previous
term. The net profit was posted at Yen 3
million, compared with Yen 14 million a year ago. High Yen eroded profits in yen terms
For the current term ending Apr 2012 the net
profit is projected at Yen 14 million, on a 2% rise in turnover, to Yen 6,350
million. Consumer spending continues
sluggish for jewelry, art and other big-ticket items.
The financial situation is considered maintained
FAIR and good for ORDINARY business engagements.
Date Registered:
Sept 1953
Regd No.:
0112-01-001166 (Tokyo-Nakanoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 38,400 shares
Issued:
9,600 shares
Sum: Yen 10 million
Major
shareholders (%): Shigehiro Kashima (83), Yoko Kashima (10), Mitsuhiro Kashima (4), Taiyo
Shoji (3)
No. of shareholders: 4
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and
wholesales polished diamonds, cats Eye, other precious stones (--100%).
Stones are processed into products on its
own design with mfg subcontracted to local jewelry processors.
Goods are imported from Belgium, Israel,
France, Sri Lanka, India, Thailand, Hong Kong, USA, etc.
Clients: [Department
stores, chain stores, jewelers] Isetan, Takashimaya, Hankyu De- partment Stores, Tokyu Department Stores,
Matsuzakaya, Odakyu Department Stores, Ito-Yokado, Maruhiro Department Store,
Yagihashi Co, Nippon Television Broadcasting Corp, Suzuran Co, Harmonic Co,
other.
No. of accounts:
800
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Imports from Belgium, Israel, Sri Lanka, India, Thailand, Hong
Kong, France, USA, other.
Also supplied from: Ijima Kingin Kogyo,
Orient Four Seas, Neo Craft, Nitto Co, Rei Corp, other.
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References:
Bank of Yokohama
(Shinjuku)
MUFG
(Shinjuku-Shintoshin)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
|
30/04/2012 |
30/04/2011 |
30/04/2010 |
30/04/2009 |
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Annual
Sales |
|
6,350 |
6,224 |
6,130 |
6,056 |
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Recur.
Profit |
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Net
Profit |
|
4 |
3 |
14 |
5 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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|
281 |
278 |
268 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(₯) |
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|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.02 |
1.53 |
1.22 |
-2.09 |
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Current Ratio |
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|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.06 |
0.05 |
0.23 |
0.08 |
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Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 30/04/2012 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.94 |
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|
1 |
Rs.77.95 |
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Euro |
1 |
Rs.65.94 |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
-- |
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.