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Report No. : |
313902 |
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Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
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Name : |
CLASSIC DIAMOND CO LTD |
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Registered Office : |
Classic Bldg 2F, 3-12-5 Taito Taitoku Tokyo 110-0016 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
March, 1996 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Wholesale of Diamond Jewelry/Real Estate Leasing. |
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No. of Employees : |
15 |
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 : |
Slow but correct |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
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 |
CLASSIC DIAMOND CO LTD
REGD NAME: KK
Classic Diamond
MAIN OFFICE: Classic
Bldg 2F, 3-12-5 Taito Taitoku Tokyo 110-0016 JAPAN
Tel: 03-5817-3621 Fax: 03-5817-3622
URL: N/A
Wholesale of
diamond jewelry/Real estate leasing
Kofu
M EMSHIN , PRES
(Phonetically spelled)
G Emshin, dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 9,738 M
PAYMENTSSLOW BUT CORRECT CAPITAL Yen 65 M
TREND UP WORTH Unavailable
STARTED 1996 EMPLOYES 15
WHOLESALER OF
DIAMOND JEWELRY, MANAGEMENT OF COMPANY OWNED REAL ESTATE.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD
FOR ORDINARY BUSINESS ENGAGEMENTS.
The subject
company was established on the basis of a wholesale division separated from
Classic Diamonds Co Ltd, importer & wholesaler of diamonds, at the caption
address (see REGISTRATION). The subject shares the office with the
parent, with phone/Fax numbers being
jointly used. Specializes in importing, exporting and wholesaling diamonds &
jewelry. Nearly 50% are said
exports. Clients are local jewelry processors, jewelry stores, other. It also
manages real estate leasing.
Financials are
disclosed only partially.
The sales volume
for March 2014 fiscal term amounted to Yen 9,738 million, a 34% up from Yen
7,249 million in the previous term. The net profit at Yen 42 million is posted
in a 20% up compared with Yen 35 million a year ago.
For the current
term ending March 2015, the net profit at Yen 43 million is estimated based on
2% rise in turnover, to Yen 9,933 million.
Final results are yet to be released.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Mar 1996
Regd No.:
Unavailable
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: Unavailable
Issued: Unavailable
Sum: Yen 65 million
Major
shareholders (%): Diaond Invex (70%) Corp,
E Emshin (30%)
No.
of shareholders: 2
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports, exports and wholesales polished
diamonds & jewelry (--100%).
Exports (about 50%), Real estate leasing.
Export
destinations are mainly Hong Kong & New York.
Clients: [Jewelry stores,
jewelry processors] BR Gems, Kuwayama Corp, Kentop International, other
No.
of accounts: unavailable
Domestic areas of activities: Centered in
greater-Tokyo
Suppliers: [Mfrs,
wholesalers] Supplied mostly from Classic Diamonds.
Also imports from Eurostar Diamond
(Belgium), Princess Jewelry, Euro Star Diamond, Excellent DIAMONDS LTD, Classic
Diamond B.V.D.A., other.
Payment record: Slow but correct
Location: Business area in Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Bank
of India
Indo State Bank
Relations: Satisfactory
(In Million Yen)
|
Terms Ending: |
|
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
|
9,933 |
9,738 |
7,249 |
7,622 |
|
Recur.
Profit |
|
.. |
.. |
.. |
44 |
|
Net
Profit |
|
43 |
42 |
35 |
29 |
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Total
Assets |
|
|
n/a |
n/a |
5,000 |
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Net
Worth |
|
|
n/a |
n/a |
252 |
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Capital,
Paid-Up |
|
|
n/a |
n/a |
85 |
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Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.00 |
34.34 |
-4.89 |
#DIV/0! |
|
Current Ratio |
|
|
.. |
.. |
.. |
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N.Worth Ratio |
|
|
.. |
.. |
5.04 |
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N.Profit/Sales |
|
0.43 |
0.43 |
0.48 |
0.38 |
Notes: Financials
are only partially disclosed.
Forecast (or estimated)
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
-- |
|
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.