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Report Date : |
08.02.2013 |
IDENTIFICATION DETAILS
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Name : |
REGALIA CO LTD |
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Registered Office : |
3-2-14 Aonuma Kofu 400-0867 |
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Country : |
Japan |
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Date of Incorporation : |
April 2004 |
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Com. Reg. No.: |
0900-02-006480 (Yamanashi-Kofu) |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
IMPORTS, WHOLESALE OF DIAMONDS, DIAMOND JEWELRY |
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No. of Employees : |
05 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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
In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
|
Source : CIA |
REGALIA CO LTD
YK Regalia
3-2-14 Aonuma Kofu
400-0867 JAPAN
Tel: Unavailable
(not registered with the telephone office)
URL: Nil
Imports,
wholesale of diamonds, diamond jewelry
Nil
(subcontracted)
VIMAR
PANCHAMIYA, PRES (only phonetically spelled)
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES UNDETD A/SALES Yen 80 M*
PAYMENTS Unknown
CAPITAL Yen 6 M
TREND UNDETD WORTH Yen
6 M**
STARTED 2004 EMPLOYES 5
*..
Estimated figures only, and not verified.
**.. Expressed by the paid-in capital
TRDING
FIRM SPECIALIZING IN DIAMONDS & JEWELRY.
FINANCIAL SITUATION UNDETERMINED DUE TO THE LACK OF PROVEN BUSINESS BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.
The subject company was established by Vimar Panchamiya, an Indian resident, in order to make most of his experience in the subject line of business. This is a trading firm for import, export and wholesale of diamonds and diamond jewelry. The firm does not disclose any of its managerial and financial information and all the information contained here is derived from the Registration Certificate. Telephone numbers are not registered with the Telephone Office, either. Goods are imported from India, Israel, other. Diamonds are partially subcontracted mfg to local jewelry processors. Clients are local jewelry stores, jewelry processors, chain stores, extending into the greater-Tokyo region.
Financials are not disclosed and unavailable.
The sales volume for Mar/2012 fiscal term is reportedly amounted to Yen 80 million, an 11% down from Yen 90 million in the previous term, but the figures have not been verified by the third parties. No further details are made available. .
Both the financial situation and business trends are not determined due to the lack of proven business.
Date Registered:
Apr 2004
Regd No.: 0900-02-006480 (Yamanashi-Kofu)
Legal Status: Private Limited Company (Yugen Kaisha)
Authorized: 200 shares
Issued: 200
shares
Sum: Yen 6 million
Major shareholders (%): Vimar Panchamiya (100)
Nothing detrimental is known as
to his commercial morality.
Activities: Imports, exports and wholesales diamonds & diamond jewelry (--100%)
Diamonds are partially subcontracted mfg to local jewelry processors.
Clients: Jewelry stores, jewelry processors, wholesalers, chain stores, other
No. of accounts: Unavailable
Domestic areas of activities: Kofu City, extending into the greater-Tokyo region
Suppliers: [Mfrs, wholesalers] Imports from India, Israel, other
Payment record: Unknown
Location: Business area in Kofu. Office premises at the caption address are owned by V Panchamiya as his private residence and maintained satisfactorily.
Bank References:
Kofu Shinkin Bank (Asaka)
Relations: Money deposits & transfers only
(In Million Yen)
NOT DISCLOSED AND UNAVAILABLE
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.
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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.
-
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.53.14 |
|
UK Pound |
1 |
Rs.83.26 |
|
Euro |
1 |
Rs.71.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
NLM |
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 |
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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 |
|
---- |
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.