MIRA
INFORM REPORT
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Report No. : |
316573 |
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Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
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Name : |
ASAHI TRADING CO. LTD. |
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Registered Office : |
2-1, Uchikanda, 2-Chome, Chiyoda-Ku, Tokyo, 101-0047 |
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Country : |
Japan |
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Date of Incorporation : |
31.08.1984 (Non-Hong Kong Company) |
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Com. Reg. No.: |
08239110 |
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Legal Form : |
Limited Company |
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Line of Business : |
Subject is engaged in diversified economy. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Revoked its registration in Hong Kong |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 |
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.
|
Source
: CIA |
Company name
ASAHI TRADING CO. LTD.
ADDRESS
Registered
Office:-
2-1, Uchikanda, 2-Chome, Chiyoda-ku, Tokyo, 101-0047, Japan.
BUSINESS REGISTRATION NUMBER
08239110
COMPANY FILE NUMBER
F0002771
REGISTERED IN HONG KONG ON
31st August, 1984.
(Non-Hong Kong Company)
CAPITAL
¥96,000,000.00
AUTHORIZED REPRESENTATIVE IN HONG KONG
Name: CHEN Rong Feng
Address: Unit 3401-3402, 34/F., AIA Tower, 183 Electric Road, North
Point Hong Kong.
DIRECTORS
(As per registry dated 31-10-2008)
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Name (Nationality) |
Address |
|
Mitsuo TANAKA |
6-32-13, Todoroki, Setagaya-ku, Tokyo, Japan. |
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Sumihisa KAWAKAMI |
425-1-610, Ueki, Kamakura-city, Kanagawa, Japan. |
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Yoshiki OKUDA |
6-13-12-302, Todoroki, Setagaya-ku, Tokyo, Japan. |
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Masayuki ABE |
1-5-17-802, Kasukabe, Kasukabe-city, Saitama, Japan. |
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Yuki MURATA |
27-8, 2-Chome Okusawa Setagaya-ku, Tokyo, Japan. |
HISTORY
The subject was incorporated in Japan as a limited company. It had established a principal place of
business in Hong Kong and was registered on 31st August, 1984 as a Non
Hong Kong company.
The subject was also known as Asahi Boeki Kabushiki Kaisha in Japanese.
At the very beginning, the subject was located at 25/F., Far East
Finance Centre, 16 Harcourt Road, Admiralty, Hong Kong. However, it has ceased its place of business
since 5th January, 2009.
Apart from these, neither material change nor amendment has been ever
traced and noted.
GENERAL
Asahi Trading Co. Ltd. was registered as a non-Hong Kong Company in
Hong Kong. It has ceased its place
of business in Hong Kong since 5th January, 2009.
All the directors of the subject were Japanese while each of them was a
Japanese passport holder.
Your given address ‘6/F., Kam Sang Building, 257 Des Voeux Road Central,
Sheung Wan, Hong Kong’ is the operating office of an accounting company Y. H.
Lai & Co. Asahi Trading Co. Ltd.
seems to be one of its clients. However,
Y. H. Lai & Co. declined to disclose any information about the subject.
Now the subject has registered in Japan but not registered in Hong Kong.
The subject was an associated company of Mitsui & Co. (Hong Kong)
Ltd. [Mitsui HK].
Mitsui HK is engaged in diversified economy. The Mitsui Group is playing a leading role in
many vital areas from environmental protection, industrial development, fine
chemicals, computer science, space development and telecommunications to the
basic necessities such as food, clothing and housing, etc.
Mitsui HK is a leading Japanese firm in Hong Kong enjoying very
considerable turnover. Its business
activities cover exports, imports, offshore, and domestic businesses and
investments, handling iron and steel, metal raw materials, chemical products,
machinery, foods, general merchandise, property and housing business
development, electronics and information and textiles.
The subject was engaged in the same lines of business as Mitsui HK, more
or less.
The subject ceased its place of business in Hong Kong on 5th January,
2009 formally. This means that the
subject has revoked its registration in Hong Kong.
On the whole, consider it not suitable for any business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
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|
1 |
Rs.92.53 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
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.