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Report No. : |
354328 |
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Report Date : |
18.12.2015 |
IDENTIFICATION DETAILS
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Name : |
KYOWA INDUSTRIAL CO. LTD. |
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Registered Office : |
87-89 Fuk Hi Street, Yuen Long Industrial Estate, Yuen Long,
New Territories |
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Country : |
Hong Kong |
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Date of Incorporation : |
01.11.1985 |
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Com. Reg. No.: |
09976876 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers and Exporters of All kinds of plastic covers and plastic parts for photocopiers, radio cassette recorders, fax machineries, printers. |
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No. of Employee : |
40. (Hong Kong) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Hong Kong |
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 |
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 has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. 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, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. 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 12.5% of total system deposits in Hong Kong by the end of 2014. 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 total trade 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 47.3 million in 2014, 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 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% 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. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4.4% in 2014. 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. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
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Source
: CIA |
KYOWA INDUSTRIAL CO. LTD.
ADDRESS: 87-89 Fuk Hi Street, Yuen
Long Industrial Estate, Yuen Long, New Territories, Hong Kong.
PHONE: 852-2475 0392
FAX: 852-2479
2370, 2473 0021
MANAGEMENT:
Managing Director: Rajan Sharma
Incorporated on: 1st November, 1985.
Organization: Private Limited
Company.
Issued Share Capital: HK$12,000,000.00
Business Category: Manufacturers and
Exporters.
Annual Turnover: US$150 - 250 million.
Employees: 40. (Hong Kong)
Main Dealing Bankers: Mizuho Corporate
Bank Ltd., Hong Kong Branch.
Sumitomo Mitsui
Banking Corporation, Hong Kong Branch.
Banking Relation: Good.
Registered Head
Office & Factory:-
87-89 Fuk Hi Street, Yuen Long Industrial Estate, Yuen Long,
New Territories, Hong Kong.
Holding Company:-
Kyowa Co. Ltd., Japan.
China Factory: Bantian, Shenzhen, China.
Associated
Companies:-
Dalian Daisyo Kyowa Plamold Co. Ltd., China.
Higashi Hyponica Hanbai K.K., Japan.
Izumi K.K., Japan.
Kyosei Industrial Co. Ltd., Hong Kong.
Kyowa Plastics Industrial (Dongguan) Co. Ltd., China.
Kyowa Plastics Industrial (Vietnam) Co. Ltd., Vietnam.
Kyowa Silverstar Plastics (Shenzhen) Co. Ltd., China.
Nachur Hyponica K.K., Japan.
Nissei & Kyowa Tooling Co. Ltd., China.
Shanghai Shengze Agriculture Development Co. Ltd., China.
Unisaeual Co. Ltd., Korea.
09976876
0161048
President: Mr. Shigeharu Nozawa
Managing Director: Rajan Sharma
HK$12,000,000.00
(As per registry dated 01-11-2015)
|
Name |
|
No. of shares |
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Kyowa Co. Ltd. 1-1-5, Shimotanabe-Cho, Takatsuki-City, Osaka, Japan. |
|
11,999,999 |
|
Shigeharu NOZAWA |
|
1 |
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|
––––––––– |
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Total: |
12,000,000 ======== |
(As per registry dated 01-11-2015)
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Name (Nationality) |
Address |
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Rajan SHARMA |
Flat F, 8/F., Block 1, Woodland Crest, 33 Ting Ping Road, Sheung Shui,
New Territories, Hong Kong. |
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Shigeharu NOZAWA |
15-14, 1-Chome, Tenjin Machi, Takatsuki City, Osaka, Japan. |
(As per registry dated 01-11-2015)
|
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 on 1st November, 1985 as a private limited
liability company under the Hong Kong Companies Ordinance.
It was formerly registered under the name of Brigden Enterprises Ltd.,
name changed to the present style on 18th March, 1986.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Manufacturers
and Exporters.
Lines: All kinds of plastic
covers and plastic parts for photocopiers, radio cassette recorders, fax
machineries, printers, etc.
Employees: 40. (Hong Kong)
500. (PRC)
Raw Materials: Importing
plastic materials from Europe
Markets: Hong Kong (main) and Japan.
Terms/Sales: CAD, L/C, T/T or 30 days credit.
Terms/Buying: T/T, L/C
MAIN JAPANESE
SUPPLIER: Mitsui & Co. (Hong Kong)
Ltd., Hong Kong.
Issued Share Capital: HK$12,000,000.00
Mortgage or Charge: (See attachment)
Profit & Loss: Making
a small profit every year.
Condition: Business remains active.
Facilities: Making
active use of general banking facilities.
Payment: Met as contracted.
Commercial Morality: Good.
Bankers:-
Mizuho Corporate Bank Ltd., Hong Kong Branch.
Sumitomo Mitsui Banking Corporation, Hong Kong Branch.
UFJ Bank Ltd., Hong Kong Branch.
The Bank of Kyoto Ltd., Hong Kong.
DBS Kwong On Bank Ltd., Hong Kong.
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Good.
Kyowa Industrial Co. Ltd. [KICL] is a wholly-owned subsidiary of Kyowa
Co. Ltd. [Kyowa], one of the medium-sized multi-industry company in Japan.
The managing director of the subject Mr. Rajan Sharma is a Japanese who
is holding a Hong Kong ID. He is
responsible for the business of the subject, and the production in China.
The parent company was established in 1949 as a sole proprietorship
concern and incorporated on 22nd July, 1953 with an issued share capital of ¥48
million. Now, it headquarters are in
Osaka, Japan.
The products of Kyowa has been awarded “Good Quality Mark” by Japanese
Government.
KICL, the second overseas branch of Kyowa, acts as the headquarters of
the Southeast Asia region. KICL has
leased a site (located at Yuen Long Town Lot No. 313, Sec. 1, Ss. 1) in
Yuen Long Industrial Estate from Hong Kong Industrial Estate Corp. The building was completed in late 1986 and
costed HK$10 million.
Business started in the middle of November 1986, KICL is engaged in
manufacturing plastic covers, plastic parts and housing for photocopiers, radio
cassette recorders, fax machineries, printers, etc. Its major customers include Mita Industrial
Co. Ltd., etc.
Most of its products are sold to Hong Kong, China and exported to
Japan. In view of the high production
cost in Hong Kong, KICL has moved its production line to Bantian, Shenzhen,
China where it has a workforce of 500.
An associated factory was set up in Dongguan City, Guangdong Province,
China, in the following years.
The current president of Kyowa is Mr. Shigeharu Nozawa.
As at end of 2014, Kyowa had 2,039 employees.
For over 50 years, Kyowa has contributed to industr
y by combining the skill of plastic moulding with other related
areas. It has developed a new technology
for farming called “HYPONICA” that has attracted attention from all over Japan
and from abroad. Using “HYPONICA”, Kyowa
hopes to stimulate the evolution of modern farming and avert any future food
crisis. In March 2011, Kyowa set up
Shanghai Shengze Agriculture Development Co. Ltd. in China which is engaged in
the farming technology improving.
The main functions of KICL are raw materials sourcing, products
packaging and shipping, new products marketing, and payments settling for its
associated factories in China. History
in Hong Kong is over 30 years.
On the whole, consider KICL good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
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Euro |
1 |
Rs.72.33 |
|
HKD |
1 |
Rs.8.57 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
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Report Prepared
by : |
ANK |
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.