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Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
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Name : |
KURABO INDUSTRIES LTD. |
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Formerly Known As : |
KURASHIKI BOSEKI KABUSHIKI KAISHA |
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Registered Office : |
Unit 1305-1307, 13/F., Laws Commercial Plaza, 788 Cheung Sha Wan Road, Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
05.09.1988. |
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Legal Form : |
Non-Hong Kong Company |
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Line of Business : |
Marketing Office like all kinds of textile fabrics, garments, chemicals, etc |
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No. of Employees : |
15. (Hong Kong Branch) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, it again faces a possible slowdown as exports to the Euro zone and US slump. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 7.8% of total system deposits in Hong Kong by the end of 2011, an increase of over 59% since the beginning of the year. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's exports by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 28 million in 2011, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2011 mainland Chinese companies constituted about 43% of the firms listed on the Hong Kong Stock Exchange and accounted for about 56% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Growth slowed to 5% in 2011. Credit expansion and tight housing supply conditions caused Hong Kong property prices to rise rapidly in 2010 and inflation to rise 5.3% in 2011. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
Source
: CIA
KURABO INDUSTRIES
LTD.
(Also known as KURASHIKI BOSEKI KABUSHIKI KAISHA)
(Incorporated in Japan)
Address: Unit 1305-1307,
13/F., Laws Commercial Plaza,
788 Cheung
Sha Wan Road,
Kowloon,
Hong Kong.
PHONE: 2730 2672
FAX: 2730 9314
E-MAIL: keihi_moriyama@kurabo.com.hk
President: Mr. Akihiro Inoue
Incorporated in Japan on: 9th
March, 1888.
Registered in Hong Kong on: 5th
September, 1988.
Organization: Public
Listed Company.
(Registered locally as a Non-Hong Kong Company)
Capital Stock: ¥22,040 million
Business Category: Marketing Office.
Group Net Sales: ¥159,081
million (Year ended 31-03-2012)
Employees:
15. (Hong Kong Branch)
Main Dealing Banker: Mizuho Corporate Bank Ltd., Hong Kong Branch.
Banking Relation: Good.
Registered Head Office:-
4-31, 2-Chome, Kyutaro-Machi, Chuo-Ku, Osaka 541-8581, Japan.
[Tel: 06-6266-5111; Fax:
06-6266-5555]
Hong Kong Principal Place of Business:-
Unit 1305-1307, 13/F., Laws Commercial Plaza, 788 Cheung Sha Wan Road,
Kowloon, Hong Kong.
Tokyo Branch:-
NOF Nihonbashi-honcho Building, 2F, 7-1, 2-chome, Nihonbashi‑honcho,
Chuo-ku, Tokyo 103-0023, Japan.
[Tel: 03-3639-7001; Fax:
03-3639-7004]
Associated/Affiliated Companies:-
Kurabo Group of
Companies
Aramis Co. Ltd., Japan.
Aramis International Co. Ltd., Japan.
Chugoku Kasei Kogyo Co. Ltd., Japan.
Guangzhou Kurabo Chemicals Co. Ltd., China.
Japan Jiffy Foods Inc., Japan.
K.M.E. Garments Co. Ltd., Thailand.
Koei Shoji Co. Ltd., Japan.
Kurabo Denim (HK) Ltd., Hong Kong.
Kurabo Denim (Zhuhai) Co. Ltd., China.
Kurabo Driving School Co. Ltd., Japan.
Kurabo Engineering Work ECHO Giken Co. Ltd., Japan.
Kurabo International Co. Ltd., Japan.
Kurabo Kansai Kasei Co. Ltd., Japan.
Kurabo Shanghai Co. Ltd., China.
Kurabo Techno System Ltd., Japan.
Kuraki America Corporation, US.
Kuraki Co. Ltd., Japan.
Kuraki Shanghai Co. Ltd., China.
Kuraki Taiwan Co. Ltd., Taiwan.
Kurashiki Chemical Products Do Brasil Ltda., Brazil.
Kurashiki Do Brasil Textil Ltda, Brazil.
Kurashiki Ivy Square Ltd., Japan.
Kurashiki Textile Manufacturing Co. Ltd., Japan.
MK Apparels Ltd., Bangladeesh.
P.T. Akurabenitama, Indonesia.
P.T. Kurabo Manunggal Textile Industries, Indonesia.
Sheedom Co. Ltd., Japan.
Siam Kurabo Co. Ltd., Thailand.
Taisho Spinning Co. Ltd., Japan.
Thai Kurabo Co. Ltd., Thailand.
Thai Textile Development & Finishing Co. Ltd., Thailand.
Tomei Kasei Co. Ltd., Japan.
Tongxiang Kurabo Fashion Co. Ltd., China.
etc.
3106
F0004145
¥22,040 million
President: Mr. Akihiro Inoue
(As per registry dated 05-09-2012)
|
Name |
Address |
|
Kenshi KAWANO |
Unit 1305-1307, 13/F., Laws Commercial Plaza, 788 Cheung Wan Road,
Kowloon, Hong Kong. |
(As per registry dated 05-09-2012)
|
Name (Nationality) |
Address |
|
Norio ITO |
4-31, 2-Chome, Kyutaro-Machi, Chuo-Ku, Osaka, 541‑8581, Japan. |
|
Toshiaki SAITO |
4-31, 2-Chome, Kyutaro-Machi, Chuo-Ku, Osaka, 541‑8581, Japan. |
|
Haruo KITAGAWA |
4-31, 2-Chome, Kyutaro-Machi, Chuo-Ku, Osaka, 541‑8581, Japan. |
|
Haruya FUJITA |
4-31, 2-Chome, Kyutaro-Machi, Chuo-Ku, Osaka, 541‑8581, Japan. |
|
Shinichiro TOMOBUCHI |
4-31, 2-Chome, Kyutaro-Machi, Chuo-Ku, Osaka, 541‑8581, Japan. |
|
Akihiro INOUE |
4-31, 2-Chome, Kyutaro-Machi, Chuo-Ku, Osaka, 541‑8581, Japan. |
(As per registry dated 05-09-2012)
|
Name |
Address |
Co. No. |
|
Hojin SEC Ltd. |
Room 301, 3/F., Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong
Kong. |
0612527 |
The subject was incorporated in Japan on 9th March, 1888 as a public listed
company and has established a principal place of business in Hong Kong on 5th
September, 1988 as a non-Hong Kong company.
Its shares are listed on the 1st Section of Stock Exchanges in Tokyo and
Osaka respectively in May 1949.
Formerly the subject was located at Room 1609, 16/F., World Finance
Centre, South Tower, Harbour City, Canton Road, Tsimshatsui, Kowloon,
Hong Kong. Moved to Room 1614-1615,
16/F. of the same building in March 1997.
The subject moved to the present address in January 2010.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Marketing
Office.
Lines: All
kinds of textile fabrics, garments, chemicals, etc.
Employees: 15.
(Hong Kong Branch)
5,036. (Group – as of 31-03-2012)
Commodities Handled: Mainly arranged from Japan.
Markets: Hong
Kong, Japan and other Southeast Asian countries.
Group Net Sales: ¥165,538 million
(Year ended 31-03-2008)
¥158,118
million (Year ended 31-03-2009)
¥134,262 million (Year ended 31-03-2010)
¥145,177
million (Year ended 31-03-2011)
¥159,081
million (Year ended 31-03-2012)
Terms/Sales:
Various terms
(mostly through Japanese trading houses).
Terms/Buying: As
per contracted (mostly through Japanese trading houses).
Capital Stock: ¥22,040 million
Group Net Income/(Loss): ¥3,594 million (Year ended 31-03-2008)
(¥6,775 million)
(Year ended 31-03-2009)
¥5,471
million (Year ended 31-03-2010)
¥4,897
million (Year ended 31-03-2011)
¥2,716
million (Year ended 31-03-2012)
Group Net Assets: ¥94,311 million
(Year ended 31-03-2008)
¥74,695
million (Year ended 31-03-2009)
¥82,416
million (Year ended 31-03-2010)
¥80,965
million (Year ended 31-03-2011)
¥82,414
million (Year ended 31-03-2012)
Profit & Loss: Group business is profitable in the past
three years.
Condition:
Keeping
in an active manner.
Facilities:
Making
use of general banking facilities.
Payment:
Met
as contracted.
Commercial Morality: Good.
Banker: The
Bank of Tokyo-Mitsubishi Ltd., Hong Kong Branch.
Mizuho Corporate Bank Ltd., Hong Kong
Branch.
Standing:
Good.
Kurabo Industries Ltd., also known as Kurashiki Boseki Kabushiki Kaisha,
is a Hong Kong branch office of Kurabo Industries Ltd. [Kurabo] which is a
leading Japanese spinning company in Japan.
Based in Osaka, Japan, Kurabo was founded more than 117 years ago. Its basic technologies in spinning, dying and
processing have served as the cornerstone for its current expansions into
various fields, and its Cotton and Synthetic Textile Division continues to play
a pivotal role in the company.
Presently, the principal activities of the head office in Japan are the
followings:-
·
Textiles:
Manufacture and sale of textile products of cotton, synthetic, wool and
other materials (yarns, fabrics, knits, and made-up good), including
non-wovens, and reinforcement netting.
Dyeing, treatment, and finishing of cotton and synthetic woven and
kitted fabrics.
·
Chemical Products:
Manufacture, process, and sale pf polyurethane foam, synthetic woods,
inorganic building materials, functional films, high performance engineering
plastics, and precision filtration equipment and system and related products.
·
Real Estate Utilization: Lease of real estate. Operation of parking
lot, hotel, and driving school, etc.
·
Machine Tools:
Manufacture and sale of machine tools, industrial machines.
·
Electronics:
Manufacture, sale and maintenance of information system and equipment
for colour control, production control, and of CAD systems.
·
Others:
Design, manufacture, and supply of plants, equipment, and machines for
environmental production, and industrial and household waste recycling. Manufacture and sale of biomedical and its
related products, freeze-dry lyophilised foods.
The subject was engaged in promotion of sales as well as offering
clients with after services. Most of the
sales is through local Japanese trading houses.
Business commenced in 1992 and now has had local and Japanese staff, the
subject trades in different types of commodities.
For the year ended 31st March, 2012, the Group’s turnover was ¥159,081
million, grew by 9.6% as compared with ¥145,177 million in FY 2011.
The capital of Kurabo was ¥22,040 million. As at 31st March, 2012, the Group has 5,036
employees.
The subject is fully supported by the Group’s Japan Head Office.
On the whole, consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
|
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.71.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.