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Report Date : |
31.10.2014 |
IDENTIFICATION DETAILS
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Name : |
BAMBI JEWELRY CO LTD |
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Registered Office : |
Bambi Bldg, 4-32-1 Taito Taitoku |
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Country : |
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Financials (as on) : |
28.02.2014 |
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Date of Incorporation : |
September 1959 |
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Com. Reg. No.: |
0105-01-023765 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of jewelry, precious metals, ornaments |
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No. of Employees : |
40 |
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 : |
Regular |
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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 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 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 |
BAMBI JEWELRY CO LTD
REGD NAME: Bambi
Jewelry KK
MAIN OFFICE: Bambi
Bldg, 4-32-1 Taito Taitoku
Tel:
03-5688-0110 Fax: 03-3832-6661
URL: http://www.bambi-j.co.jp
E-Mail address: (thru the URL)
Mfg of jewelry,
precious metals, ornaments
Nil
Konosu (Saitama)
SEIJIRO
TATEBAYASHI, PRES
Masamichi Nagaoka,
mgn dir Kiyoshi Sato, dir
Takenobu Ishikawa,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 1,550 M
PAYMENTSREGULAR CAPITAL Yen
12 M
TREND UP WORTH Yen 785 M
STARTED 1959 EMPLOYES 40
MFR OF JEWELRY, OWNED BY BAMBI INC.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established by Bambi Inc, at the caption address
(See REGISTRATION) as a trading firm. This is a trading firm, with mfg division,
for import and export of jewelry, precious metals, ornaments, decoration goods,
accessories. Clients include jewelry
stores, makers, other.
Financials are consolidated by the parent and only partially disclosed.
The sales volume for Feb/2014 fiscal term amounted to Yen 1,550 million,
a 4% up from Yen 1,485 million in the previous term. The net profit was posted at Yen 36 million,
compared with Yen 30 million a year ago.
For the current term ending Feb 2015 the net profit is projected at Yen
40 million, on a 3% rise in turnover, to Yen 1600 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements.
Date Registered:
Sept 1959
Regd No.:
0105-01-023765 (Tokyo-Taitoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 96,000 shares
Issued: 24,000 shares
Sum: Yen 12 million
Major
shareholders (%): Bambi Inc* (100)
*.. Mfg of watches & accessories, at the
caption address, founded 1948, capital Yen 99.6 million, sales Yen 20,500
million (group sales), employees 200, pres Kiyoshi Sato
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures,
imports, exports and wholesales jewelry, precious metals, ornaments, decoration
goods, accessories, other (--100%)
Clients: [Mfrs,
wholesalers] Bambi Group firms, Sojitz Jewelry, Orient Photeos, other
No. of accounts:
350
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Sojitz Corp, Tanaka Kikinzoku Kogyo, other
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption address
are owned by the owner and maintained satisfactory.
Bank References:
MUFG (Ueno-Chuo)
Relations:
Satisfactory
(In Million Yen)
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Terms Ending: |
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28/02/2015 |
28/02/2014 |
28/02/2013 |
29/02/2012 |
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Annual
Sales |
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1,600 |
1,550 |
1,485 |
1,426 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
40 |
36 |
30 |
23 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
|
|
785 |
749 |
719 |
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Capital,
Paid-Up |
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|
12 |
12 |
12 |
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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 |
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3.23 |
4.38 |
4.14 |
-7.46 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
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2.50 |
2.32 |
2.02 |
1.61 |
Notes: Financials
are only partially disclosed.
Forecast (or
estimated) figures for the 28/02/2015 fiscal term.
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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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.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.46 |
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|
1 |
Rs.98.21 |
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Euro |
1 |
Rs.77.45 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NIS |
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.