MIRA INFORM REPORT

 

 

Report Date :

19.05.2012

 

IDENTIFICATION DETAILS

 

Name :

BALAJI DIAMONDS YK

 

 

Registered Office :

1-12-1 Tomitake Kofu Yamanashi-Pref 400-0032

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

April 1998

 

 

Com. Reg. No.:

0900-02-002473 (Yamanashi-Kofu)

 

 

Legal Form :

Private Limited Company

 

 

LINE OF BUSINESS :

IMPORT, WHOLESALE OF POLISHED, PRECUT DIAMONDS, FROM INDIA

 

 

No. of Employees :

4

 

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 :

Small Company

Payment Behaviour :

Slow but 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, 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

 

Company name and address

 

BALAJI DIAMONDS YK

REGD NAME:    Balaji Diamonds YK

MAIN OFFICE:  1-12-1 Tomitake Kofu Yamanashi-Pref 400-0032 JAPAN

Tel: 055-235-5356     Fax: 055-235-0449

 

URL:                 N/A (no plans)

 

 

ACTIVITIES

 

Import, wholesale of polished, precut diamonds, from India

 

BRANCHES

 

Nil

 

FACTORIES

 

(subcontracted)

 

 

OFFICER(S)

 

JAIN ASHOK KUMAR, PRES

Takaya Ohta, dir

Yoshiharu Ariizumi, dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY

 

FINANCES        FAIR                                         A/SALES          Yen 600 M

PAYMENTS  SLOW BUT CORRECT                   CAPITAL           Yen 10 M

TREND SLOW                                      WORTH            Yen 91 M

STARTED         1998                                         EMPLOYES      4

 

COMMENT    

 

IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS. 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

 

HIGHLIGHTS

 

The subject company was established by Jain Ashok Kumar, an Indian businessman, in order to make most of his experience in the subject line of business.  He has been in Japan for 12 years, speaking fluent Japanese, and has cultivated a wide network in the subject business line.  This is a trading firm for import and wholesale of polished, precut diamonds, 95% from India alone, the rest from local fellow traders.  Goods are shipped to local jewelry processors, jewelry stores, etc.  Partially processes (subcontracted) them into products on demand. 

 

 

FINANCIAL INFORMATION

 

            Financials are only partially disclosed.

 

The sales volume for Mar/2011 fiscal term amounted to Yen 600 million, a similar amount in the previous term.  The net profit remained unchanged at Yen 10 million.

 

For the term that ended Mar 2012 the net profit was projected at Yen 10 million, on a 3% rise in turnover, to Yen 620 million.  Final results are yet to be released

 

The financial situation is considered maintained FAIR and good for ORDINARY business engagements. 

 

 

REGISTRATION

 

Date Registered:  Apr 1998

Regd No.:         0900-02-002473 (Yamanashi-Kofu)

Legal Status:      Private Limited Company (Yugen Kaisha)

Regd Capital:   Yen 10 million

Major shareholders (%): Jain Ashok Kumar (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

 

Activities: Imports and wholesales polished, precut diamonds (100%). 

95% of the goods are imported from India alone. 

Partially processes them into jewelry products on consignment to local jewelry processors.

 

Clients: [Jewelry processors, jewelry stores] Jewelry Iinuma, ING, other

No. of accounts: 30

Domestic areas of activities: Limited in Kofu City, Yamanashi-Pref

Suppliers: [Mfrs] 95% imported from India, with remaining supplied from local fellow traders.

 

Payment record: Slow but Correct

 

Location: Business area in Kofu.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Mizuho Bank (Kofu)

Relations: Money deposits & transfers only

 

 

FINANCES

(In Million Yen)

 

　

　

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

620

600

600

700

Recur. Profit

　

　

　

　

　

Net Profit

　

10

10

10

15

Total Assets

　

　

N/A

N/A

N/A

Net Worth

　

　

91

81

71

Capital, Paid-Up

　

　

10

10

10

Div.P.Share(₯)

　

　

0.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.33

0.00

-14.29

0.00

    Current Ratio

 

 

..

..

..

    N.Worth Ratio

 

..

..

..

    N.Profit/Sales

1.61

1.67

1.67

2.14

Notes: Financials are only partially disclosed

Forecast (or estimated) figures for the 31/03/2012 fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.87

UK Pound

1

Rs.86.46

Euro

1

Rs.69.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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%)

 

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