|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
ITOCHU HONG KONG LTD. |
|
|
|
|
Registered Office : |
28/F., United Centre, 95 Queensway |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
22.10.1974 |
|
|
|
|
Com. Reg. No.: |
04274883 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter, Commission Agent and General Merchant of Textiles, timber and forest products, paper, pulp and chips, metals, foodstuff, machinery, plastic and chemicals, computers and computer peripherals such as: floppy disks, printers, etc. |
|
|
|
|
No. of Employees : |
70 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ITOCHU HONG KONG
LTD.
ADDRESS: 28/F., United Centre, 95
Queensway, Hong Kong.
PHONE: 2294 0020, 2529 6011
FAX: 2697 0989, 2865 4631
Managing Director: Mr. Hiroshi
Ikeuchi
Incorporated on: 22nd
October, 1974.
Organization: Private
Limited Company.
Capital: Nominal: HK$939,000,000.00
Issued: HK$937,788,000.00
Business Category: General Merchant.
Group Revenue: ¥3,649,671
million (Year ended 31-03-2011)
Employees:
70.
Main Dealing Bankers: Mizuho Corporate Bank Ltd., Hong Kong Branch.
The Bank of
Tokyo-Mitsubishi UFJ Ltd., Hong Kong Branch.
The Hongkong &
Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation: Excellent.
Registered Head Office:-
28/F., United Centre, 95 Queensway, Hong Kong.
Branch:- [Textile Division]
Suite 2202-2212, 22/F., Tower 2, The Gateway, 25-27 Canton Road,
Tsimshatsui, Kowloon, Hong Kong.
G.P.O. Box 3454, Hong Kong.
China Offices: Shenzhen,
Guangzhou and Xiamen.
Parent Company:-
Itochu Corporation, Japan.
Sister/Associated Companies:-
Itochu Group of
Companies
“Suzuki Motor RUS” LLC, Russia.
Acronet Corporation, Japan.
AD Investment Management Co. Ltd., Japan.
Asahi Breweries Itochu (Holdings) Ltd., Hong Kong.
Asurion Japan KK, Japan.
Auto Investment Inc., USA.
Ayaha Corporation, Japan.
Beijing Itochu-Huatang Comprehensive Processing Co. Ltd., China.
BMI Holdings Co. Ltd., Japan.
Brazil Japan Iron Ore Corporation, Japan.
Brunei Methanol Co. Sdn. Bhd., Brunei.
C.I. Kasei Co. Ltd., Japan.
Central Engineering & Construction Co. Ltd., Japan.
Century 21 Real Estate of Japan Ltd., Japan.
Century Medical Inc., Japan.
Century Tokyo Leasing Corporation, Japan.
CGB Enterprises Inc., USA.
Chemical Logitec Co. Ltd., Japan.
Chemoil Energy Ltd., Hong Kong.
China Foods Investment Corporation, Japan.
CIPA Lumber Co. Ltd., Canada.
Cl Shopping Service Co. Ltd., Japan.
Cl Textile Service Co. Ltd., Japan.
Cosmos Services (America) Inc., USA.
Cosmos Services Co. Ltd., Hong Kong.
Daiken Corporation, Japan.
Daiken New Zealand Ltd., New Zealand.
Dalian Yawen Underwear Co. Ltd., China.
Dean & Deluca Japan Co. Ltd., Japan.
Descente Ltd., Japan.
Ecosystem Japan Co. Ltd., Japan.
EGT LLC, USA.
eGuarantee Inc., Japan.
Enolia Solar Systems SA, Greece.
Enprotech Corporation, USA.
Eurasia Logistics Ltd., Hungary.
Excite Japan Co. Ltd., Japan.
FamilyMart Co. Ltd., Japan.
Fuji Oil Co. Ltd., Japan.
FX Prime Corporation, Japan.
Goodman Co. Ltd., Japan.
Guangzhou Global Logistics Corporation, China.
Hangzhou New Huahai Business & Trading Co. Ltd., China.
I&T Risk Solutions Co. Ltd., Japan.
IFA Co. Ltd., Japan.
I-Foods Co. Ltd., Japan.
Im Autotrade Holding GmbH, Austria.
Imecs Co. Ltd., Japan.
IML Corporation, Japan.
IPC (USA) Inc., USA.
IPC Europe Ltd., UK.
I-Power Investment Inc., USA.
I-Solar Investment Ltd., UK.
Isuzu Motors Sales Ltd., Japan.
ITC Green & Water Corporation, Japan.
ITC Investment Partners Corporation, Japan.
ITC Networks Corporation, Japan.
Itochu (China) Holding Co. Ltd., China.
Itochu (Thailand) Ltd., Thailand.
Itochu AirLease BV, Netherlands.
Itochu Australia Ltd., Australia.
Itochu Automobile America Inc., USA.
Itochu Automobile Corporation, Japan.
Itochu Aviation Co. Ltd., Japan.
Itochu Brasil SA, Brazil.
Itochu Capital Securities Ltd., Japan.
Itochu Ceratech Corporation, Japan.
Itochu Chemical Frontier Corporation, Japan.
Itochu Chemicals America Inc., USA.
Itochu Construction Machinery Co. Ltd., Japan.
Itochu Enex Co. Ltd., Japan.
Itochu Europe plc, UK.
Itochu Fashion System Co. Ltd., Japan.
Itochu Feed Mills Co. Ltd., Japan.
Itochu Finance (Asia) Ltd., Hong Kong.
Itochu Finance (Europe) plc, UK.
Itochu Finance Corporation, Japan.
Itochu Fresh Corporation Inc., Japan.
Itochu Home Fashion Corporation, Japan.
Itochu Housing Co. Ltd., Japan.
Itochu International Inc., USA.
Itochu Kenzai Corporation, Japan.
Itochu Korea Ltd., Korea.
Itochu Latin America SA, Panama.
Itochu Logistics (China) Co. Ltd., China.
Itochu Logistics Corporation, Japan.
Itochu Machine-Technos Corporation, Japan.
Itochu Metals Corporation, Japan.
Itochu Middle East FZE, UAE.
Itochu Minerals & Energy of Australia Pty. Ltd., Australia.
Itochu Modepal Co. Ltd., Japan.
Itochu Oil Exploration (Azerbaijan) Inc., Cayman Islands.
Itochu Oil Exploration Co. Ltd., Japan.
Itochu Orico Insurance Services Co. Ltd., Japan.
Itochu Petroleum Co. (Singapore) Pte. Ltd., Singapore.
Itochu Plantech Inc., Japan.
Itochu Plastics Inc., Japan.
Itochu Plastics Pte. Ltd., Singapore.
Itochu Property Development Ltd., Japan.
Itochu Pulp & Paper Corporation, Japan.
Itochu Rice Corporation, Japan.
Itochu Shokuhin Co. Ltd., Japan.
Itochu Singapore Pte. Ltd., Singapore.
Itochu Sugar Co. Ltd., Japan.
Itochu Taiwan Corporation, Taiwan.
Itochu Techno-Solutions Corporation, Japan.
Itochu Textile (China) Co. Ltd., China.
Itochu Textile Prominent (Asia) Ltd., Hong Kong.
Itochu Treasury Center Americas Inc., USA.
Itochu Treasury Centre Asia Pte. Ltd., Singapore.
Itochu Treasury Centre Europe plc, UK.
Itochu Urban Community Ltd., Japan.
Itochu Windows Co. Ltd., Japan.
Itopia Home Co. Ltd., Japan.
ITR Corporation, Japan.
Jamco Corporation, Japan.
Japan Brazil Paper & Pulp Resources Development Co. Ltd., Japan.
Japan Foods Co. Ltd., Japan.
Japan Medical Dynamic Marketing Inc., Japan.
Japan Nutrition Co. Ltd., Japan.
Japan Ohanet Oil & Gas Co. Ltd., Japan.
Java Holdings Co. Ltd., Japan.
JB BioEnergy Inc., Japan.
Joi’x Corporation, Japan.
Kl Fresh Access Inc., Japan.
Komatsu Southern Africa (Pty) Ltd., South Africa.
Kumeshima Sugar Co. Ltd., Japan.
Leilian Co. Ltd., Japan.
MAGASeek Corporation, Japan.
Malha Gas Investment Co. Ltd., Japan.
Marubeni-Itochu Steel Inc., Japan.
Maruko Co. Ltd., Japan.
Master-Halco Inc., USA.
MCL Group Ltd., UK.
Multiquip Inc., USA.
Mystar Engineering Corporation, Japan.
Naes Corporation, USA.
Narendra Plastic Pvt. Ltd., India.
NCT Holland BV, Netherlands.
Ningbo PTA Investment Co. Ltd., Japan.
Nippon Access Inc., Japan.
Nippon Uranium Resources (Australia) Pty. Ltd., Australia.
Nissho Petroleum Gas Corporation, Japan.
Oilseeds International Ltd., USA.
Orient Corporation, Japan.
P.T. Aneka Bumi Pratama, Indonesia.
P.T. Aneka Tuna Indonesia, Indonesia.
P.T. Hexindo Adiperkasa Tbk, Indonesia.
P.T. Suzuki Finance Indonesia, Indonesia.
Pacific Woodtech Corporation, USA.
Palmaju Edible Oil Sdn. Bhd., Malaysia.
Paul Smith Group Holdings Ltd., UK.
Plastribution Ltd., UK.
Pocketcard Co. Ltd., Japan.
Prima Meat Packers Ltd., Japan.
PrimeSource Building Products Inc., USA.
Prominent (Vietnam) Co. Ltd., Vietnam.
PTAGENT. Corporation, China.
Quality Technology International Inc., USA.
Roy-Ne Co. Ltd., Japan.
Rubbernet (Asia) Pte. Ltd., Singapore.
Sankei Co. Ltd., Japan.
Scabal Japan Co. Ltd., Japan.
Scatec Solar AS, Norway.
Shanghai Baoling Plastics Co. Ltd., China.
Shanghai Jinpu Plastic Packaging Material Co. Ltd., China.
Shanshan Group Co. Ltd., China.
Shibushi Silo Co. Ltd., Japan.
Show-Wa Co. Ltd., Japan.
Siam Cosmos Services Co. Ltd., Thailand.
Sichuan Ganghong Enterprise Management Co. Ltd., China.
SolarNet Holdings LLC, USA.
South East Fibre Exports Pty. Ltd., Austrlaia.
Space Shower Networks Inc., Japan.
Stapleton’s (Tyre Services) Ltd., UK.
Sumika Polymer Compounds (Europe) Ltd., UK.
Sumipex (Thailand) Co. Ltd., Thailand.
suncall Corporation, Japan.
Sunrise (Shengzhou) Knits Co. Ltd., China.
Sunrise (Shengzhou) Textiles Co. Ltd., China.
Superex Corporation, Japan.
T.Kawabe & Co. Ltd., Japan.
Taiwan Distribution Center Co. Ltd., Taiwan.
Takiron Co. Ltd., Japan.
Telerent Leasing Corporation, USA.
Tetra Chemicals (Singapore) Pte. Ltd., Singapore.
Thai Shikibo Co. Ltd., Thailand.
Thaitech Rubber Corporation Ltd., Thailand.
The Japan Cee-Bee Chemical Co. Ltd., Japan.
Ting Hsin (Cayman Islands) Holding Corporation, Cayman Islands.
Tingtong (Cayman Islands) Holding Corporation, Cayman Islands.
Toda Advanced Materials Inc., Canada.
Toda America Inc., USA.
Toho Earthtech Inc., Japan.
Tyr Energy Inc., USA.
Unicharm Consumer Products (China) Co. Ltd., China.
Unico Corporation, Japan.
Unimax Saigon Co. Ltd., Vietnam.
VCJ Corporation, Japan.
Vehicles Middle East FZCO, UAE.
Vietnam Hi-Tech Transportation Co. Ltd., Vietnam.
Watakyu Seimoa Corporation, Japan.
Winner Food Products Ltd., Hong Kong.
Yanase & Co. Ltd., Japan.
Yayoi Foods Co. Ltd., Japan.
Yokohama Russia LLC, Russia.
etc.
04274883
0040604
Chairman: Mr. Shuichi Koseki
Managing Director: Mr. Hiroshi
Ikeuchi
Nominal Share Capital: HK$939,000,000.00 (Divided into 9,390,000 shares
of HK$100.00 each)
Issued Share Capital: HK$937,788,000.00
(As per registry dated 22-10-2011)
|
Name |
|
No. of shares |
|
Itochu Corporation Itochu Building, 5-1, Kita-Aoyama, 2-Chome, Minato-ku, Tokyo, Japan. |
|
9,377,880 ======= |
(As per registry dated 22-10-2011)
|
Name (Nationality) |
Address |
|
Hiroshi IKEUCHI |
Suite 2708, 27/F., Sutton Court, The Gateway Apartment, Harbour City,
Tsimshatsui, Kowloon, Hong Kong. |
|
Shuichi KOSEKI |
West Tower 2601, Kerrycentre Apartment, 1 Guang Hua Road, Chaoyang
District, Beijing, China. |
|
Yukihiro IWATA |
Flat A, 17/F., Pinnacle Apartment, 8 Minden Avenue, Tsimshatsui,
Kowloon, Hong Kong. |
Yukihiro IWATA (As per registry
dated 22-10-2011)
The subject was incorporated on 22nd October, 1974 as a private limited liability
company under the Hong Kong Companies Ordinance to take over the activities of
C. Itoh & Co. Ltd., Hong Kong Branch of which business had been in Hong
Kong for more than 23 years.
The subject was originally registered under the name of C. Itoh & Co.
(Hong Kong) Ltd., name changed to the present style on 22nd September,
1992.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Importer,
Exporter, Commission Agent and General Merchant.
Lines: Textiles,
timber and forest products, paper, pulp and chips, metals, foodstuff,
machinery, plastic and chemicals, computers and computer peripherals such as:
floppy disks, printers, etc.
Employees: 70.
Commodities Imported:-
“GOLD ACE” metal recovery units –
Japan.
Textile raw materials – Japan, Taiwan, Korea, Indonesia, Thailand,
Pakistan, India, etc.
Fabric – Japan, Taiwan, Indonesia and
Thailand.
Timber and forest products – Malaysia,
Indonesia, Thailand, etc.
Steel products – Japan, Taiwan, Korea and
Europe.
Manganese and chrome ore – Australia, India
and Russia.
Iron ore – Australia and India.
Scrap metal – USA.
Silicon metal and zinc – China.
Reefer containers – Japan.
Instant noodle – Japan and Hong Kong.
Machinery – Worldwide.
Plastic raw materials – Japan, USA, Europe, Korea, Taiwan, Singapore
and Thailand.
Markets: Hong
Kong, Japan, China, Southeast Asia, USA, Europe, Latin America, Middle
East, Australia, New Zealand, etc.
Group Revenue: ¥2,646,037 million (Year
ended 31-03-2007)
¥2,859,853
million (Year ended 31-03-2008)
¥3,419,061
million (Year ended 31-03-2009)
¥3,416,637
million (Year ended 31-03-2010)
¥3,649,671
million (Year ended 31-03-2011)
Terms/Sales:
On various terms.
Terms/Buying: L/C
(30%) and D/A (70%).
GOVERNMENT
CONTRACT AWARDED SINCE 1990:
|
Date |
GN No. |
Particulars |
Amount |
|
28-05-1993 |
GN1837 |
Supply of Explosive Detector |
HK$1,299,677 (delivered with 12-month
warranty) |
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKI0077]
Nominal Share Capital: HK$939,000,000.00 (Divided into 9,390,000
shares of HK$100.00 each)
Issued Share Capital: HK$937,788,000.00
Increases of Nominal Capital:-
|
From |
HK$
75,000,000.00 |
to |
HK$100,000,000.00 |
on |
28-01-1981 |
|
From |
HK$100,000,000.00 |
to |
HK$150,000,000.00 |
on |
31-01-1989 |
|
From |
HK$150,000,000.00 |
to |
HK$175,000,000.00 |
on |
16-08-1989 |
|
From |
HK$175,000,000.00 |
to |
HK$549,000,000.00 |
on |
06-09-2002 |
|
From |
HK$549,000,000.00 |
to |
HK$939,000,000.00 |
on |
30-05-2011 |
Group Net Income: ¥175,856 million
(Year ended 31-03-2007)
¥217,301
million (Year ended 31-03-2008)
¥165,390
million (Year ended 31-03-2009)
¥128,153
million (Year ended 31-03-2010)
¥160,975
million (Year ended 31-03-2011)
Group Net Worth: ¥ 892,553
million (As at 31-03-2007)
¥ 973,545 million (As at 31-03-2008)
¥ 849,411 million (As at 31-03-2009)
¥1,098,419
million (As at 31-03-2010)
¥1,154,826
million (As at 31-03-2011)
Profit or Loss: Operation is profitable.
Condition:
Business is
active and satisfactory.
Facilities: Making active use of general banking
facilities.
Payment:
Prompt and
reliable.
Commercial Morality: Excellent.
Bankers:-
Mizuho Corporate Bank Ltd., Hong Kong
Branch.
The Bank of Tokyo-Mitsubishi UFJ Ltd.,
Hong Kong Branch.
The Hongkong & Shanghai Banking Corp.
Ltd., Hong Kong.
Sumitomo Mitsui Banking Corporation,
Hong Kong Branch.
Wing Hang Bank Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong)
Ltd., Hong Kong.
The Bank of East Asia Ltd., Hong Kong.
Bank of China (Hong Kong) Ltd.,
Hong Kong.
Citibank N.A., Hong Kong Branch.
etc.
Banking:-
One source reports subject has been
maintained a well conducted current account with them since 31st October,
1974. They have handled their import and
export bills with satisfactory results.
Loan facilities granted to them have been utilized to their entire
satisfaction.
Another source informs they extend
substantial facilities to their export and import business to their
satisfaction.
Third source states credit facilities are
utilized on unsecured basis. Both inward
and outward bills transactions are handled to their satisfaction.
Standing:
Sound.
Itochu Hong Kong Ltd., formerly known as C. Itoh & Co. (Hong Kong)
Ltd., was incorporated in Hong Kong in October 1974 as a wholly-owned
subsidiary of C. Itoh & Co. Ltd., one of the big 5 general trading houses in
Japan. The subject was formed to take
over the business of C. Itoh & Co. Ltd., Hong Kong Branch. It carries on all kinds of trading activities
operated by C. Itoh & Co. Ltd., Hong Kong Branch.. In 1992, the English name of C. Itoh
& Co. Ltd. was renamed Itochu Corporation [Itochu]. The Hong Kong subsidiary’s name
accordingly changed to Itochu Hong Kong Ltd. which is the present style in
September 1992.
The subject’s major business activities include trading in machinery,
construction equipment, chemicals, plastics, foodstuffs, paper, lumber,
etc. It also participates infrastructure
construction and investment. As early as
before the World War II, Itochu had already established its first
representative office in Hong Kong.
The subject has set up three offices in the southern part of China in
Shenzhen, Guangzhou and Xiamen. With an
aim to strengthen the business network in the South China Region, Itochu
Guangzhou and Itochu Shenzhen have been incorporated as 100% subsidiary
companies of the subject.
In order to further promote the subject’s business integration with
these offices, the subject is gradually shifting its business base to Guangzhou
with focus on automobiles and related electronic components industries.
The subject’s business activities are mainly conducted through the
following departments:-
Plastics Department
The Plastic Department trades in raw materials for plastic and also
involves in direct investments in China – major projects cover a sanitary
napkin joint venture, a PVC paste project and a non-woven cloth venture.
Chemical Department
The Chemical Department trades in dyestuffs and raw materials like
styrene and other sensitive resins, salt, urethane raw materials and detergent.
Foodstuff Department
The Foodstuff Department handles a wide range of food materials and
foodstuffs. The food materials covers
wheat flour, vegetable oil, marine products and dairy products, etc. which are
imported from Japan, Vietnam, Malaysia, China, India and Australia. Foodstuffs are marketed mainly in Hong Kong,
re-exported to Japan and other Asian countries.
As for retailing business, the Department in markets the products mainly
in Hong Kong and southern China. In
order to strengthen Itochu’s marketing and distributing of products, the
Foodstuff Department has made investments on various projects, such as instant
noodle business in Hong Kong and in Guangdong Province, food catering business
in Hong Kong and setting up a malting plant in Ningbo, China.
General Merchandise Department
The Lumber Section is mainly handling timber and forest products, which
are imported from Asian countries like Malaysia, Indonesia and Thailand. Recently, import from African countries is
increasing. Among all the trading
partners, Malaysia forms the major supplier of round logs and Indonesia exports
most of the plywood, veneer and other finished products for furniture. On the sales side, most of the commodities
are exporting to Japan. This department
is trading in more wooden products by importing and exporting to all over the
world not only Asian countries.
The Pulp and Paper Section is handling paper products, pulp and wood
chips. The section imports paper from
all over the world like the United States, Canada, Brazil, Germany, Indonesia,
Malaysia, Korea and Japan. Besides, the
section also imports pulp from worldwide and the main source is North and South
America. Regarding woodchips, the
section exports to Japan from southern China and Vietnam. The main market is China and Hong Kong. Meanwhile, the section has several joint
ventures in China and Vietnam producing sanitary napkin, carbonless paper and
wood chip plantation. While the
timber/forest products and paper/pulp remains as the major trading items, the
Department handles other general merchandise goods, like cement and glass. The section imports cement from Japan and
exports to China.
Metal Energy Department
This Department is trading in steel products and non-ferrous materials.
The steel products are mainly imported from Japan, Thailand, Taiwan,
Korea and Europe, which are sold in Hong Kong and China.
The non-ferrous materials and products are mainly through three
channels:-
·
Exporting/importing of non-ferrous materials (such
as copper cathode, aluminium alloy ingot, silicon metal, zinc ingot, tin ingot,
etc.) from/to China and Hong Kong to/from Japan and other Asian countries.
·
Importing of aluminium products (in coil, sheets,
plates, extrusions, etc.), copper products (tube, strip, bar and wire rod,
etc.) and other non-ferrous material products to China and Hong Kong from Japan
and other countries.
·
Selling of Japan-made reefer container units,
optical fibre and other hi-tech materials.
Machinery Department
The Machinery Department handles a wide range of individual machines –
from automobiles, construction machinery, agricultural machinery and textile
machinery to vessel crammed with state-of-the-art technology – as well as
machinery and equipment for petroleum, chemical, steel-manufacturing, paper
making and other plants. The
Construction Group makes full use of the information-gathering, financing,
planning and development, organizing and other capabilities of a general
trading company to engage in a wide variety of business both in Japan and
overseas.
Textile Department
Trading in textiles, apparels, and raw materials [cover natural raw
materials (e.g. raw cotton and wool), synthetic fibres and yarns
(e.g. polyester staple fibre, polyester filament yarn, acrylic fibre,
rayon filament yarn and rayon staple fibre), and other spinning yarn (e.g.
cotton yarn and T/C yarn)].
For the year ended 31st March, 2011, the net income of the subject
amounted to ¥2.7 billion (estimated).
The Japanese parent company, Itochu, is a public company with shares
listed on the stock exchanges in Tokyo, Osaka, Nagoya, Fukuoka and Sapporo in
July 1950.
Itochu is a globally integrated corporation with offices in over 80
countries and operations that cover a broad spectrum of industries. Annual revenues place Itochu among the
world’s largest corporations of any type.
The subject and the Itochu Group are seeking more trading and business
opportunities in China. Now, Itochu has
set up liaison offices in Beijing, Sichuan, Chongqing, Wuhan, Zhuhai, Xiamen,
Haikou, Fuzhuo and Urumuqui.
The Group has been actively engaged in business in China. For instance, it has been expanding trading
and investment in local businesses through alliances with key local companies.
In addition to participating in infrastructure construction and the
nation’s major projects, Itochu has been making significant contributions to
the local economy by offering management consulting for local companies and
other services.
Itochu is committed to expanding its businesses in China, it keeps on to
be a major economic player in the country.
For the year ended 31st March, 2011, the revenues of the Group amounted
to ¥3,649,671 million (2010: ¥3,416,637 million); net income was ¥160,975
million (2010: ¥128,153 million). Both
of the revenues of the Group and net income increased in the FY year.
The increase in revenue in the year was due to higher revenue in several
division companies. In the Energy,
Metals & Minerals Company, revenue increased due to higher prices for
mineral resources and for oil and gas.
The subject is fully supported by the Itochu Group. History in Hong Kong is over thirty-seven
years.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.03 |
|
|
1 |
Rs.79.32 |
|
Euro |
1 |
Rs.66.02 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.