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Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
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Name : |
MIDI CO LTD |
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Registered Office : |
597-5 Kamicho Kofu Yamanashi-Pref 400-0831 |
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Country : |
Japan |
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Date of Incorporation : |
November, 2006 |
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Com. Reg. No.: |
0900-01-002091 (Yamanashi-Kofu) |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale, retail of jewelry, diamonds, precious
stones |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s 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 |
COMPANY NAME
MIDI CO LTD
REGD NAME
KK Midi
MAIN OFFICE:
597-5 Kamicho Kofu Yamanashi-Pref 400-0831 JAPAN
Tel: 055-241-9200 Fax:
055-242-6017
URL: N/A
E-Mail address: midi-japan@yahoo.co.jp
ACTIVITIES
Import, wholesale, retail of jewelry, diamonds, precious
stones
BRANCHES
Nil
FACTORIES
(subcontracted)
OFFICERS
KENJI MOCHIZUKI, PRES
Tsuneko Mochizuki, dir
Shigeru Mochizuki, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES UNDETD A/SALES UNDISCLOSED
PAYMENTS UNKNOWN CAPITAL Yen
5 M
TREND UNDETD WORTH UNAVAILABLE
STARTED 2006 EMPLOYES 25
COMMENT
TRADING FIRM SPECIALIZING IN JEWELRY.
FINANCIAL SITUATION UNDETERMINED DUE TO THE LACK OF PROVEN
BUSINESS, WHICH THE FIRM DOES NOT DISCLOSE.
MAX CREDIT LIMIT: & CREDIT AMOUNT CANNOT BE ASSESSED DUE
TO THE SAME REASON. ANY CREDITS ON NEW
TRANSACTIONS ARE RECOMMENDED WITH FULLY SECURED TERMS.
HIGHLIGHTS
The subject company was established by Kenji Mochizuki in
order to make most of his experience in the subject line of business. This is a trading firm specializing in
import, wholesale and retail of diamonds, jewelry products, other precious
stones. Goods are imported from Israel,
India, China, other. Diamonds are
partially subcontracted mfg into jewelry products to local processors. Goods are sold online, too.
FINANCIAL
INFORMATION
Financials are not disclosed. The firm declined to disclose its business.
Both the financial situation and business trends are not
determined due to the lack of proven business, which the firm does not
disclose, but should be good for MODERATE business engagements. Max credit limit & proposed credit amount
are not to be assessed due to the same reason.
Any credits on new transactions are recommended with fully secured
terms.
REGISTRATION
Date
Registered: Nov 2006
Regd
No.: 0900-01-002091
(Yamanashi-Kofu)
Legal
Status: Limited Company (Kabushiki Kaisha)
Authorized: 400 shares
Issued:
100 shares
Sum: Yen
5 million
Major
shareholders (%): Kenji Mochizuki
(100)
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities:
Imports, wholesales and retails (online) diamonds, diamond jewelry, precious
stones, others (--100%)
Diamonds are partially subcontracted mfg to local processors
into jewelry products.
Clients:
Jewelers, consumers, other
No. of
accounts: Unavailable
Domestic
areas of activities: Centered in Yamanashi-Pref
Suppliers:
[Mfrs, wholesalers] Imports from Israel, India, China, other
Payment
record: Unknown
Location:
Business area in Kofu. Office premises
at the caption address are owned and maintained satisfactorily.
Bank
References:
Mizuho Bank (Kofu)
Relations: ^Satisfactory
FINANCES
(In Million
Yen)
NOT
DISCLOSED AND UNAVAILABLE.
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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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 –
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Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of diamonds
has stopped completely.” Demand has started coming from the US, the UK, Japan
and China. India’s polished diamond export is expected to cross $ 21 bn in
2013-14.
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The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
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 |
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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.