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Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
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Name : |
AMI IMPEXCO LTD |
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Registered Office : |
Masuda Bldg 5F, 4-5-7 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.07.2012 |
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Date of Incorporation : |
April 1993 |
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Com. Reg. No.: |
0105-01-022046 (Tokyo-Taitoku) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of polished diamonds, precious metals, jewelry products |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRAs 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 : |
No Complaints |
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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) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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
AMI IMPEXCO LTD
REGD NAME: Ami
Impex KK
MAIN OFFICE: Masuda
Bldg 5F, 4-5-7 Taito Taitoku Tokyo 110-0016 JAPAN
Tel:
03-3832-3006 Fax: 03-3832-3002
* Registered at
1-12-6 Misuji Taitoku Tokyo
E-Mail address: kunthuraj@amiimpex.net
Import, wholesale
of polished diamonds, precious metals, jewelry products
Kofu
Ueno
India (Raj Gems
Headquarters), Bangkok, Hong Kong, Belgium, USA
(subcontracted)
RAKESH J SHAH,
PRES
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,800 M
PAYMENTS NO COMPLAINTS CAPITAL Yen
100 M
TREND SLOW WORTH Yen
180 M
STARTED 1993 EMPLOYES 8
IMPORTER AND WHOLESALER SPECIALIZING IN POLISHED DIAMONDS & JEWELRY,
OWNED BY RAJ GEMS, INDIA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
The subject company was
established by Raj Gems, India as its marketing office in Japan. Rakesh J Shah was appointed as its
representative. He is elder son of J B
Shah, founder and owner of Raj Gems, India.
This is a trading firm specializing in importing & wholesaling
polished diamonds from India, and from Israel, Belgium, Hong Kong, etc. About 60% of the goods are supplied from Raj
Gems. Goods are shipped to jewelry
processors, jewelers centrally in greater-Tokyo area, extending into Kofu,
Yamanashi-Pref, a hub of jewelry factories and workshops, where the firm
operates a branch office. Diamonds are
partially subcontracted mfg into jewelry products to local jewelry
processors.
Financials are only
partially disclosed. The 31/07/2012
fiscal term figures are not precisely disclosed and estimated only.
The sales volume
for Jul/2012 fiscal term is estimated amounted to Yen 3,800 million, a 3% down
from Yen 3,900 million in the previous term.
Consumer spending was sluggish for high-end products. Demand declined. The net profit was posted at Yen 5 million,
similarly in the previous term.
For the current
term ending Jul 2013 the net profit is projected to mark time at Yen 5 million,
on a similar turnover, at Yen 3,800 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Apr 1993
Regd No.:
0105-01-022046 (Tokyo-Taitoku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 2,000 shares
Issued: 2,000 shares
Sum: Yen 100 million
Major shareholders (%): Rakesh J Shah
(100)
Nothing
detrimental is known as to his commercial morality.
Activities: Imports, exports
and wholesales and retails polished diamonds, tanzanite gems, ruby, sapphire,
opal, other gem stones & precious metals, engagement rings, jewelry
products (--100%).
60% of the goods
are supplied from Raj Gems, India, other from Israel, Belgium, Hong Kong, Thailand, etc.
Diamonds and
precious metals are partially subcontracted mfg to local processors into
jewelry products.
Clients: [Jewelers, jewelry processors, consumers]
Lucky Co, Kashikey Co, Gem Trading,
Taniguchi Jewelry,
EMA Japan, other.
No. of accounts:
300 (Wholesale Div)
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs, wholesalers] Raj Gems, Mohit
Diamonds (--India), Kay Diamonds NV (Belgium), ESPEKA, other.
Payment record: No Complaints
Location: Business area Tokyo.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank
References:
Bank of India
(Tokyo)
Resona Bank (Ueno)
Relations:
Satisfactory
(In Million Yen)
|
|
|
31/07/2013 |
31/07/2012 |
31/07/2011 |
31/07/2010 |
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Annual
Sales |
|
3,800 |
3,800 |
3,900 |
4,075 |
|
Recur.
Profit |
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|
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Net
Profit |
|
5 |
5 |
5 |
8 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
180 |
175 |
110 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
40 |
|
Div.P.Share(₯) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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|
S.Growth Rate |
0.00 |
-2.56 |
-4.29 |
14.11 |
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|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
.. |
.. |
.. |
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N.Profit/Sales |
0.13 |
0.13 |
0.13 |
0.20 |
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Notes: Financials are only partially disclosed. The 31/07/2012 figures are only estimated as
not precisely disclosed
Forecast (or estimated) figures for the 31/07/2013 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
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 |
|
-- |
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.