MIRA INFORM REPORT

 

 

Report Date :

26.08.2014              

 

IDENTIFICATION DETAILS

 

Name :

EXCELLENT CO LTD

 

 

Registered Office :

2-17-22 Joto Kofu City Yamanashi-Pref 400-0861

 

 

Country :

Japan

 

 

Financials (as on) :

30.06.2013

 

 

Date of Incorporation :

September 2011

 

 

Com. Reg. No.:

0900-01-002738

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Import, wholesale of diamonds, precious stones, jewelry products

 

 

No. of Employees :

2

 

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 :

Moderate

Payment Behaviour :

Slow but correct

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Japan

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. 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. Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan 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 and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Prime Minister Shinzo ABE has declared the economy his government's top priority; he has overturned his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus, monetary easing, and structural reform. Japan joined the Trans Pacific Partnership negotiations in 2013, a pact that would open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2013 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 2012. The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which is exceeding 230% of GDP. To help raise government revenue and reduce public debt, Japan decided in 2013 to gradually increase the consumption tax to a total of 10% by the year 2015. Japan is making progress on ending deflation due to a weaker yen and higher energy costs, but reliance on exports to drive growth and an aging, shrinking population pose other major long-term challenges for the economy

Source : CIA

 

 

 

Company name and address

 

EXCELLENT CO LTD

REGD NAME:    KK Excellent

MAIN OFFICE:  2-17-22 Joto Kofu City Yamanashi-Pref 400-0861 JAPAN

    Tel: 055-232-2507      Fax: 055-232-2506

 

URL:                 Nil

 

 

ACTIVITIES  

 

Import, wholesale of diamonds, precious stones, jewelry products

 

 

BRANCHES   

 

Nil

 

 

OFFICERS

 

JANE H RAJIEND, PRES (Only phonetically spelled)

                       

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES        R/WEAK                       A/SALES          Yen 140 M

PAYMENTSSlow but correct       CAPITAL           Yen 7 M

TREND UP                                WORTH            Yen 18 M         

STARTED         2011                             EMPLOYES      2

 

 

COMMENT    

 

TRADING FIRM SPECIALIZING IN DIAMONDS & JEWELRY.

FINANCIAL SITUATION CONSIDERED RATHER WEAK BUT SHOULD BE GOOD FOR MODERATE BUSINESS ENGAGEMENTS.

 

 

 

HIGHLIGHTS

           

            The subject company was established by John H Rajiend in order to make most of his experience in the subject line of business.  This is a trading firm for import and wholesale of pre-cut diamonds, jewelry, other.  Diamonds and precious stones are partially subcontracted mfg into jewelry products to local jewelry processors.  Goods are wholly imported from India.  Clients include jewelry makers, jewelry stores, other.

 

 

FINANCIAL INFORMATION

           

            Financials are disclosed only partially.

 

            The sales volume for Jun/2013 fiscal term amounted to Yen 140 million, a 75% up from Yen 80 million in the previous term.  Client networks were expanded during the second year of operations.  Imports increased.  Net profit was posted at Yen 10 million, compared with Yen 1 million a year ago.

 

            For the term that ended Jun 2014 the net profit was projected at Yen 15 million, on a 7% rise in turnover, to Yen 150 million.  Final results are yet to be released.

 

The financial situation is considered RATHER WEAK but should be good for MODERTE business engagements. 

 

 

REGISTRATION

 

Date Registered:            Sept 2011

Regd No.:           0900-01-002738 (Yamanashi-Kofu)

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         560 shares

Issued:                140 shares

Sum:                   Yen 7 million

Major shareholders (%): Jane H Rajiend (100)

 

Nothing detrimental is known as to his commercial morality.

 

 

OPERATION

           

Activities: Imports and wholesales: pre-cut & recut diamonds, precious metals, precious stones, semiprecious stones, jewelry & products, other (--100%)

 

Diamonds & precious stones are subcontracted mfg into jewelry products to local jewelry processors.

 

Clients: Jewelry makers, wholesalers, shops, other 

No. of accounts: 100

Domestic areas of activities: Kofu City, extending into Tokyo areas

Suppliers: [Mfrs, wholesalers] Mani Exports, other from India

 

Payment record: slow but correct

 

Location: Business area in Kofu.  Office premises at the caption address are owned by J H Rajiend as his home residence and maintained satisfactory.

 

Bank References:

Kofu Shinkin Bank (Midoricho)

Relations: Money deposits and transfers only

 

 

FINANCES

 

(In Million Yen)

Terms Ending:

　

30/06/2014

30/06/2013

30/06/2012

Annual Sales

　

150

140

80

Recur. Profit

　

..

..

..

Net Profit

　

15

10

1

Total Assets

　

　

N/A

N/A

Net Worth

　

　

18

8

Capital, Paid-Up

　

　

7

7

Div.P.Share(¥)

　

　

0.00

0.00

<Analytical Data>

　

(%)

(%)

(%)

    S.Growth Rate

　

7.14

75.00

- - -

    Current Ratio

　

　

..

..

    N.Worth Ratio

　

　

..

..

    N.Profit/Sales

　

10.00

7.14

1.25

 

Notes: Financials are only partially disclosed.  The 30/06/2012 term is the initial accounting term from the inception of the firm.

Forecast (or estimated) figures for the 30/06/2014 fiscal term.

 

           

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.42

UK Pound

1

Rs.100.11

Euro

1

Rs.79.74

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

PDT

 

               

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.