|
|
|
MIRA INFORM REPORT
|
Report No. : |
488155 |
|
Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CLASSIC DIAMOND CO LTD |
|
|
|
|
Registered Office : |
Classic Bldg 2F, 3-12-5 Taito Taitoku Tokyo 110-0016 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
May 1997 |
|
|
|
|
Com. Reg. No.: |
010501016888 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Import,
export, wholesale of diamond jewelry |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 second country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP on January 23, 2017, and as of April 2017 the agreement has not gone into effect.
|
Source
: CIA |
Company summery
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
ACTIVITIES: Import, export, wholesale of diamond
jewelry
BRANCHES: Kofu, Osaka
OFFICERS: M
J EMSHIN, PRES (Phonetically spelled)
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY: FINANCES FAIR A/SALES Yen 7,147 M
PAYMENTS NO COMPLAINTS CAPITAL Yen 65 M
TREND SLOW WORTH Yen 412 M
STARTED 1996 EMPLOYES 12
COMMENT
WHOLESALER OF DIAMOND JEWELRY, OWNED BY CLASSIC DIAMONDS CO
LTD (INDIA).
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
HIGHLIGHTS
The
subject company was established on the basis of a wholesale division separated
from Classic Diamonds Co Ltd (India), with its representative office at the
caption address. This is a trading firm
for import, export and wholesale of diamonds & jewelry. Nearly 50% are said for exports. Clients are local jewelry processors, jewelry
stores, other.
FINANCIAL INFORMATION
The sales volume for Mar/2017 fiscal term amounted to Yen 7,147
million, a 14% fall from Yen 8,291 million in the previous term. The recurring profit was posted at Yen 42
million and the net profit at Yen 24 million, respectively, compared with Yen
26 million net profit a year ago.
For the current term ending Mar 2018 the recurring profit is
projected at Yen 45 million and the net profit at Yen 30 million, respectively,
on a 3% rise in turnover, to Yen 7,360 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
REGISTRATION
Date Registered: May 1997
Regd No.: 010501016888 (Tokyo-Taitoku)
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
5,200 shares
Issued:
1,300 shares
Sum: Yen 65
million
Major shareholders (%): Dia Impex* (70), M Emshin (30%)
No. of shareholders: 2
*.. Holding Company of the group
firms (India)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Imports, exports and wholesales polished diamonds & jewelry (--100%).
Exports (about 50%)
Export destinations are mainly Hong
Kong, China & New York.
Clients: [Jewelry stores, jewelry processors]
Fine Star Diamond, AB Diamond, Excellent Diamonds, Princess Jewelry, other
No. of accounts: 100
Domestic
areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Excellent Diamond
Ltd, Princess Jewelry, other.
Payment record: No Complaints
Location:
Business area in Tokyo. Office premises at
the caption address are leased and maintained satisfactorily.
Bank References:
Bank of India (Tokyo)
Mizuho Bank (Ueno)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
|
Annual Sales |
|
7,360 |
7,147 |
8,291 |
10,173 |
|
Recur. Profit |
|
45 |
42 |
.. |
149 |
|
Net Profit |
|
30 |
24 |
26 |
31 |
|
Total Assets |
|
|
4,357 |
N/A |
5,102 |
|
Net Worth |
|
|
412 |
388 |
361 |
|
Capital, Paid-Up |
|
|
65 |
65 |
65 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
2.98 |
-13.80 |
-18.50 |
4.47 |
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
|
9.46 |
.. |
7.08 |
|
N.Profit/Sales |
|
0.41 |
0.34 |
0.31 |
0.30 |
Notes:
Forecast (or estimated) figures for 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.89 |
|
|
1 |
INR 88.60 |
|
Euro |
1 |
INR 78.12 |
|
YEN |
1 |
INR 0.58 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
Promoters
/ Management background
·
Payment
record
·
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.