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MIRA INFORM REPORT
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Report No. : |
492809 |
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Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
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Name : |
TOKYO PEARL CO LTD |
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Registered Office : |
Tokyo Shinju Bldg, 6-16-3 Ginza Chuoku Tokyo 104-0061 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2017 |
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Date of Incorporation : |
February 1959 |
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Com. Reg. No.: |
0100-01-061359 |
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Legal Form : |
Limited Company |
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Line of Business : |
Imports, exports and wholesales polished diamonds, pearls (South Sea
pearls, black Tahiti pearl), diamond/pearl jewelry |
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No. of Employees : |
71 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Japan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (slightly less than 1% of GDP) have helped Japan develop an advanced economy. Two notable characteristics of the post-World War II 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 have significantly eroded under the dual pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price differences, Japan in 2017 stood as the fourth-largest economy in the world after first-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. For three postwar decades, overall real economic growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the aftereffects of inefficient investment and the collapse of an asset price bubble in the late 1980s, which entailed considerable time for firms to reduce excess debt, capital, and labor. Modest economic growth continued after 2000, but the economy has fallen into recession four times since 2008.
Japan enjoyed an uptick in growth in 2013 on the basis of Prime Minister Shinzo ABE’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Led by the Bank of Japan’s aggressive monetary easing, Japan is making modest progress in ending deflation, but demographic decline – a low birthrate and an aging, shrinking population – poses a major long-term challenge for the economy. The government currently faces the quandary of balancing its efforts to stimulate growth and institute economic reforms with the necessity of addressing its sizable public debt, which stands at 235% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate. However, the first such increase, in April 2014, led to another recession, so Prime Minister ABE has twice postponed the next increase, now scheduled for October 2019. Structural reforms to unlock productivity are seen as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on imported energy and raw materials. After the complete shutdown of Japan’s nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than before on imported fossil fuels. However, ABE’s government is seeking to restart nuclear power plants that meet strict new safety standards and is emphasizing nuclear energy’s importance as a base-load electricity source. In August 2015, Japan successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima prefecture, and several other reactors around the country have since resumed operations; however, opposition from local governments has delayed several more restarts that remain pending. Reforms of the electricity and gas sectors, including full liberalization of Japan’s energy market in April 2016 and gas market in April 2017, constitute an important part of Prime Minister Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Japan was the first country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP in January 2017, and in November 2017 the remaining 11 countries agreed on the core elements of a modified agreement, which they renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
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Source : CIA |
Company
name and summary
TOKYO
PEARL CO LTD
REGD
NAME: Tokyo Shinju KK (Shinju means
Pearl)
MAIN
OFFICE: Tokyo Shinju Bldg, 6-16-3 Ginza
Chuoku Tokyo 104-0061 JAPAN
Tel: 03-3543-6055 Fax: 03-3543-2127
URL: http://www.tokyopearl.com/
E-Mail address: info@tokyopearl.com
ACTIVITIES: Import, export, wholesale of pearls,
diamonds
BRANCHES: Osaka, Kofu
STORES: At
the caption address
OVERSEAS: Antwerp, Tel Aviv (-- rep offices)
TP Diamond Co Ltd (Thailand); Tokyo
Shinju Singapore Pte Ltd;
Tokyo Shinju International Ltd
(Taiwan) (--subsidiaries)
FACTORIES: Ise (Mie-Pref); Hong Kong, Taiwan, Thailand
OFFICER(S): TOTA KOYAMA, PRES
Chozo
Higashi, rep dir
Akiharu
Minegishi, s/mgn dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 5,104 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 100 M
TREND SLOW WORTH Yen 2,079 M
STARTED 1959 EMPLOYES 71
COMMENT
TRADING FIRM SPECIALIZING IN DIAMONDS &
PEARLS.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
HIGHLIGHTS
The subject
company was established by Takezo Koyama in order to make most of his
experience in the subject line of business, as Tokyo Pearl Ltd. Originally started as a pearl trader, and in
1973, reorganized and renamed as captioned.
In 1980 started the pearl business.
In Apr/2004 Tota Koyama, his son, took the office of pres. This is a trading firm specializing in
import, export and wholesale of polished diamonds, pearls, jewelry products,
other. Goods are also retailed at its
own store at the caption address. Diamonds
are imported from Belgium, Israel, Russia, Thailand, India, USA, other. Pearls are exported. Also imports black Tahiti pearls and South
Sea pearls from Tahiti, Surabaya, Australia, other. Clients are jewelers, jewelry processors,
other.
FINANCIAL
INFORMATION
The sales volume for
Mar/2017 fiscal term amounted to Yen 5,104 million, a 4% down from Yen 5,303
million in the previous term. The
recurring profit was posted at Yen 47 million and the net profit at Yen 46
million, respectively, compared with Yen 121 million recurring profit and Yen 4
million net profit, respectively, a year ago.
For the current
term ending Mar 2018 the recurring profit is projected at Yen 50 million and
the net profit at yen 50 million, respectively, on a 3% rise in turnover, to
Yen 5,260 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
REGISTRATION
Date Registered: Feb 1959
Regd No.: 0100-01-061359 (Tokyo-Chuoku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 800,000 shares
Issued:
200,000 shares
Sum: Yen 100 million
Major
shareholders (%): Company’s Treasury Stock (59.7), Tota Koyama (35.6), Takezo Koyama
(4.7), other
No.
of shareholders: 10
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Imports, exports
and wholesales polished diamonds, (60%), pearls (South Sea pearls, black Tahiti
pearl), diamond/pearl jewelry (--40%).
Imports diamonds from Belgium, Israel, Russia, Thailand, USA, India,
Hong Kong, other.
Pearls are imported from Tahiti, Surabaya, Australia, etc. Pearls are also exported.
Clients: [Jewelry processors, jewelry stores] Primo Japan Inc, FDC Products, Kyocera Corp, Citizen Jewelry, Kashikey, Belita, Nagahori, Mikimoto Pearls,
Citizen Jewelry, Watch, Azumi, Tokyo Kiho, Kyocera Corp, Primo Japan,
FDC Products, Shin-Ei Shokai, other.
No. of accounts: 500
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Imports diamonds from Belgium, Israel, Russia, Thailand, USA, India, Hong Kong, other (80%)
Domestically supplied from Jewelry wholesalers, Pearl Culture Assn,
other
Payment
record: No complaints
Location: Business area in Tokyo. Office premises at the caption address are
owned and maintained satisfactorily.
Bank References:
SMBC
(Ginza)
Mizuho
Bank (Ginzadori)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual Sales |
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5,260 |
5,104 |
5,303 |
5,562 |
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Recur. Profit |
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50 |
47 |
121 |
92 |
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Net Profit |
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50 |
46 |
4 |
6 |
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Total Assets |
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6,982 |
6,833 |
6,892 |
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Net Worth |
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2,079 |
2,030 |
2,346 |
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Capital, Paid-Up |
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100 |
100 |
100 |
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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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3.06 |
-3.75 |
-4.66 |
-0.73 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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29.78 |
29.71 |
34.04 |
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N.Profit/Sales |
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0.95 |
0.90 |
0.08 |
0.11 |
Notes: Forecast (or estimated) figures for the 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.92 |
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1 |
INR 89.55 |
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Euro |
1 |
INR 79.68 |
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Yen |
1 |
INR 0.60 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
SYL |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.