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MIRA INFORM REPORT
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Report No. : |
492394 |
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Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
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Name : |
NEMOTO (HK) LIMITED |
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Registered Office : |
Unit 903A, 9/F., Trade Square, 681 Cheung Sha Wan Road, Cheung Sha Wan,
Kowloon |
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Country : |
Hong Kong |
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Date of Incorporation : |
14.09.1995 |
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Com. Reg. No.: |
19333212 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in Importer, Exporter and Wholesaler of all kinds
of sensors. |
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No. of Employees : |
16 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 reexports, 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 continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
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 aided a more rapid initial recovery 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 9.4% of total system deposits in Hong Kong by the end of 2015. 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. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% 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. 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, which took effect in 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.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 2.6% in 2016, but slowed to 2.0% in 2017. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities. In 2017, Chief Executive Lam announced plans to increase government spending on research and development, education, and technological innovation with the aim of spurring continued economic growth through greater sector diversification.
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Source
: CIA |
Company
name and address
NEMOTO (HK) LIMITED
ADDRESS: Unit
903A, 9/F., Trade Square, 681 Cheung Sha Wan Road, Cheung Sha Wan, Kowloon,
Hong Kong.
PHONE: 852-2366
8213
FAX: 852-2721
8551
MANAGEMENT
Managing Director:
Mr. Hiroshi Shimokawa
SUMMARY
Incorporated on:
14th September, 1995.
Organization:
Private Limited Company.
Issued Share Capital: HK$6,000,000.00
Business Category: Importer,
Exporter and Wholesaler.
Employees: 16.
Main Dealing Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Banking Relation:
Satisfactory.
COMPANY NAME AND ADDRESS
NEMOTO (HK) LIMITED
ADDRESS:
Registered Head Office:-
Unit 903A, 9/F., Trade Square, 681 Cheung Sha Wan Road,
Cheung Sha Wan, Kowloon, Hong Kong.
Holding Company:-
Nemoto & Co. Ltd., Japan.
Associated Companies:-
Dalian Nemoto New Materials Co. Ltd., China.
G.B.C. (Specialty Chemicals) Ltd., U.K.
LumiNova AG, Switzerland.
Nemoto Lumi Products (Shenzhen) Ltd., China.
Nemoto Lumi-Materials Co. Ltd., Japan.
Nemoto Portugal-Quimica Fina, Unipessoal Lda., Portugal.
Nemoto Precision (HK) Ltd., Hong Kong. (Same address)
Nemoto Precision Co. Ltd., Japan.
Nemoto Science Co. Ltd., Japan.
Nemoto Sensor Engineering Co. Ltd., Japan.
Nemoto Shenzhen Ltd., China.
Shanghai Nemoto Electronic Technology Co. Ltd., China.
T.N. Technos Co. Ltd., Japan.
etc.
BUSINESS REGISTRATION NUMBER: 19333212
COMPANY FILE NUMBER:
0525492
MANAGEMENT
Managing Director:
Mr. Hiroshi Shimokawa
Contact Person:
Mr. David Fung
ISSUED SHARE CAPITAL:
HK$6,000,000.00 (6,000 fully paid ordinary shares)
SHAREHOLDERS
(As per registry dated 14-09-2017)
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Name |
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No. of shares |
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Nemoto & Co. Ltd. 15-1, Kamiogi 1-Chome Suginami-ku, Tokyo 167, Japan. |
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5,400 |
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Ikuyoshi NEMOTO |
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600 |
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––––– |
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Total: |
6,000 ==== |
DIRECTORS
(As per registry dated 14-09-2017)
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Name (Nationality) |
Address |
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Takashi MATSUZAWA |
303, 2-7-26, Showa-Machi, Akishima-Shi, Tokyo, Japan. |
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Hiroshi SHIMOKAWA |
Flat 1502, 15/F., Block P, Kornhill, 10 Hong On Street,
Quarry Bay, Hong Kong. |
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Mieko NEMOTO |
4-19-15 Hamadayama, Suginamo-ku, Tokyo, Japan. |
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Ikuyoshi NEMOTO |
19-15, Hamadaysma 4-chome, Suginami-ku, Tokyo 168,
Japan. |
SECRETARY
(As per registry dated 14-09-2017)
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Name |
Address |
Co. No. |
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SCS Global Consulting (HK) Ltd. |
Room 501-502, 5/F., Jubilee Centre, 18 Fenwick
Street, Wanchai, Hong Kong. |
0957966 |
HISTORY
The subject was incorporated on 14th September, 1995 as a
private limited liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment
has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: All kinds
of sensors, etc.
Employees: 16.
Commodities Imported: Japan,
other Asian countries, etc.
Markets: Hong
Kong, other Asian countries, Europe, North America, etc.
Terms/Sales: As
per contracted.
Terms/Buying:
Various terms.
FINANCIAL
INFORMATION
Issued Share Capital: HK$6,000,000.00 (6,000 fully paid
ordinary shares)
Profit or Loss: Made
small profits in past years.
Condition: Keeping
in a satisfactory manner.
Facilities: Making
rather active use of general banking facilities.
Payment: Met trade
commitments as required.
Commercial Morality:
Satisfactory.
Banker: The
Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standing: Normal.
GENERAL
Nemoto (HK) Limited
is a subsidiary company of Nemoto & Co. Ltd. which is a Japan-based company.
The subject and its
holding company belong to The Nemoto Group of Companies.
The Nemoto Group was
established in 1941 and it is a leading manufacturer of gas sensor and luminous
pigments around the world.
The subject has been
established since 1995 and it is a sales office. It is trading in the products of the Group.
The Group provides
worldwide customers with a wide range of domestic and industrial gas sensors.
The main products of the Group are as follow:-
CO Sensor;
CO Gas Sensor;
LPG Sensor;
Combustible Gas Sensor;
NH3 Sensor;
Luminous Pigment;
H2S Sensor;
LPG Gas Sensor;;
Humidity Sensor
Carbon Monoxide Sensor; &
Smoke Detector Components.
The Nemoto Group of Companies is based in Tokyo,
Japan. The Group is also significant for
its Hi-Tech electro-plating. Nemoto was
set up in 1941 in Japan. It has set up a
number of manufacturing facilities in various locations around the world.
The subject’s business is handled by Mr. David Fung who
is the Sales Engineer. The history of
the subject in Hong Kong is over 22 years and five months.
On the whole, in view of the background of the subject,
consider it good for normal credit requirements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.66 |
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1 |
INR 90.65 |
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Euro |
1 |
INR 79.69 |
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HKD |
1 |
INR 8.29 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
VIV |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.