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Report Date : |
25.09.2012 |
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Tel. No.: |
816 6253 1577 |
IDENTIFICATION DETAILS
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Name : |
ZANISH LTD |
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Registered Office : |
Shinsaibashi Makoh Bldg #403, 3-2-22 Minamisemba Chuoku |
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Country : |
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Financials (as on) : |
31.01.2012 |
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Date of Incorporation : |
April 2000 |
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Com. Reg. No.: |
(Osaka-Chuoku) 043933 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORT, WHOLESALE OF DIAMONDS, DIAMOND JEWELRY |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
Slow but correct |
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Litigation : |
Clear |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
JAPAN - ECONOMIC OVERVIEW
Source
: CIA
ZANISH LTD
REGD NAME: YK
Zanish
MAIN OFFICE: Shinsaibashi
Makoh Bldg #403, 3-2-22 Minamisemba Chuoku Osaka 542-0081
JAPAN
Tel: 06-6253-1577 Fax: 06-6253-1561
URL: N/A
Import, wholesale
of diamonds, diamond jewelry
Nil
(subcontracted)
AKIRA INOUE, PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,460 M
PAYMENTS SLOW BUT CORRECT CAPITAL Yen 3 M
TREND UP WORTH Yen 158 M
STARTED 2000 EMPLOYES 5
IMPORTER AND
WHOLESALER OF DIAMONDS, DIAMONDS JEWELRY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS
The subject company was established
by Akira Inoue in order to make most of his experience in the subject line of
business. This is a trading firm, owned
essentially by Akira Inoue, for import and wholesale of diamonds and diamond
jewelry. Diamonds are imported from
India centrally. Diamonds are partially
subcontracted mfg to local jewelry processors into jewelry products. Clients are specialty stores, jewelry
processors, other.
The sales volume for Jan/2012 fiscal
term amounted to Yen 1,460 million, an 8% up from Yen 1,352 million in the previous
term. The high Yen contributed to reduce
the costs of import in Yen terms. The
recurring profit was posted at Yen 30 million and the net profit at Yen 32
million, respectively, compared with Yen 27 million recurring profit and Yen 28
million net profit, respectively, a year ago.
.
For the current term ending Jan 2013 the
recurring profit is projected at Yen 35 million and the net profit at Yen 35
million, respectively, on a 3% rise in turnover, to Yen 1,500 million.
The financial situation is considered
maintained FAIR and good for ORDINARY business engagements.
Date Registered: Apr
2000
Regd No.:
(Osaka-Chuoku) 043933
Legal Status: Private Limited
Company (Yugen Kaisha)
Regd Capital: Yen 3 million
Major shareholders (%): Akira Inoue
(100)
Nothing
detrimental is known as to his commercial morality.
Activities: Imports and
wholesales diamonds, diamond jewelry, other (--100%)
Clients: [Jewelers,
jewelry processors] Tacoal & Co, Koshin Co, Eva Co, other
No. of accounts:
100
Domestic areas of
activities: Centered in greater-Osaka
Suppliers: [Mfrs,
wholesalers] Imports from Kantilal Chhotalal, Raj Gems, other
Imports from India, Israel, Hong Kong,
Thailand, other
Payment record: Slow but correct
Location: Business area in
Osaka. Office premises at the caption
address are leased and maintained satisfactorily.
Bank References:
Ikeda Senshu
(Minami)
Kinki Osaka Bank
(Minami)
Relations:
Satisfactory
(In Million
Yen)
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Terms Ending: |
31/01/2013 |
31/01/2012 |
31/01/2011 |
31/01/2010 |
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Annual
Sales |
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1,500 |
1,460 |
1,352 |
934 |
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Recur.
Profit |
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35 |
30 |
27 |
6 |
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Net
Profit |
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35 |
32 |
28 |
12 |
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Total
Assets |
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760 |
647 |
477 |
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Current
Assets |
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727 |
616 |
441 |
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Current
Liabs |
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211 |
208 |
207 |
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Net
Worth |
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158 |
125 |
97 |
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Capital,
Paid-Up |
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3 |
3 |
3 |
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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 |
2.74 |
7.99 |
44.75 |
-15.48 |
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Current Ratio |
|
.. |
344.55 |
296.15 |
213.04 |
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N.Worth Ratio |
.. |
20.79 |
19.32 |
20.34 |
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R.Profit/Sales |
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2.33 |
2.05 |
2.00 |
0.64 |
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N.Profit/Sales |
2.33 |
2.19 |
2.07 |
1.28 |
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Return On Equity |
.. |
20.25 |
22.40 |
12.37 |
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Notes: Forecast
(or estimated) figures for the 31/01/2013 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.53.29 |
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1 |
Rs.86.43 |
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Euro |
1 |
Rs.68.95 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.