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Report No. : |
303285 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
RECKON GEMS JAPAN LTD |
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Registered Office : |
3-17-17 Aonuma Kofu Yamanashi-Pref 400-0867 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2014 |
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Date of Incorporation : |
April 1993 |
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Com. Reg. No.: |
0900^01-02496 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, export, wholesale of diamonds, jewelry products |
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No. of Employee : |
11 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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.
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Source
: CIA |
RECKON GEMS JAPAN LTD
Reckon Gems Japan
KK
3-17-17 Aonuma
Kofu Yamanashi-Pref 400-0867JAPAN
Tel: 055-227-8891 Fax: 055-227-8890
E-mail address: sales@reckongem.com
Import,
export, wholesale of diamonds, jewelry products
Nil
(Subcontracted)
CHANDRA
G JAJU, PRES
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 620 M
PAYMENTSSLOW
BUT CORRECT CAPITAL Yen 30 M
TREND SLOW WORTH Yen 195 M
STARTED 1993 EMPLOYES 11
IMPORTER AND WHOLESALER SPECIALIZING IN JEWELRY, OWNED BY
JAJU GEMS, INDIA.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established as a Branch Office by Jaju
Gems, Jaipur, India, for marketing its jewelry products in Japan. C G Jaju is a younger brother of M S Jaju,
pres at the Indian Headquarters. The
firm specializes in import and wholesale of polished diamonds, other gem
stones, fingerings, earrings, necklaces, pendants and other jewelry
products. Goods are wholly supplied and
imported from the Indian parent and group firms. Goods are also exported. Clients are local jewelry processors, jewelry
stores, etc. Stones are partially
processed at local subcontracted factories on demand.
Financials are only partially disclosed.
The sales volume for Mar/2014 fiscal term amounted to Yen
620 million, a similar amount in the previous term. Consume spending revived. The net profit marked time at Yen 10 million.
For the current term ending Mar 2015 the net profit is
projected at Yen 12 million, on a 2% rise in turnover, to Yen 635 million. Unit price of jewels is increased.
The financial situation is considered maintained FAIR and
good for ORDINARY business engagements.
Max credit limit is estimated at Yen 11.1 million, on 30 days normal
terms.
Date Registered: Apr
1993
Regd No.: 0900^01-02496
(Yamanashi-Kofu)
Legal Status: Limited Company (Kabushiki
Kaisha)
Authorized: 600 shares
Issued:
600 shares
Sum: Yen 30 million
Major shareholders (%): Chandra
G Jaju (100)
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Imports and wholesales polished
diamonds, other gem stones* (including colored stones), fingerings, earrings,
pierced rings, necklaces, bracelets, pendants, other jewelry products
(--100%).
*.. Gem stones: diamond, gem-set jewelry, platinum jewelry,
ruby, sapphire, aquamarine, tanzanite, cat’s-eye, tourmaline, other.
Goods are imported wholly from
India.
Clients: [Jewelry processors, jewelry stores]
Saegusa Corp, Koshin Jewelry, Koshin Jewels Co, Hyuga Jewels Co, Shimada
Jewelry Inc, other
No. of
accounts: 300
Domestic
areas of activities: Centered in Kofu, extending into Tokyo area.
Suppliers: [Mfrs, polishing companies] Imports
wholly from Jaju Gems, India and group processing
firms.
Payment record: Slow
But Correct
Location: Business
area in Kofu City, Yamanashi-Pref.
Office premises at the caption address are leased and maintained
satisfactorily.
Bank References:
Mizuho Bank (Kofu)
Resona Bank (Kofu)
Relations: Satisfactory
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Terms Ending: |
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31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual
Sales |
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635 |
620 |
620 |
620 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
12 |
10 |
10 |
11 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net Worth |
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|
195 |
185 |
175 |
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Capital,
Paid-Up |
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30 |
30 |
30 |
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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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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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2.42 |
0.00 |
0.00 |
0.00 |
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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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1.89 |
1.61 |
1.61 |
1.77 |
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.61.61 |
|
|
1 |
Rs.93.47 |
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Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
DPT |
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 |
-- |
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.