MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
MURAKAMI JITSUGYO INC |
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Registered Office : |
1-1-10 Minami-Nanamatsucho Amagasaki Hyogo-Pref 660-0053 |
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Country : |
Japan |
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Financials (as on) : |
28.02.2007 |
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Date of Incorporation : |
Sept 1963 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, export, wholesale of aircraft
parts & instruments, industrial machinery |
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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Maximum Credit Limit : |
Yen 176.7 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
MURAKAMI JITSUGYO INC
REGD NAME
Murakami Jitsugyo KK
MAIN OFFICE
1-1-10 Minami-Nanamatsucho Amagasaki Hyogo-Pref 660-0053 JAPAN
Tel : 06-6419-4181
Fax : 06-6419-4113
URL : N/A (under construction)
ACTIVITIES
Import, export, wholesale of aircraft parts &
instruments, industrial machinery
BRANCHES
Tokyo, Osaka, Nagoya
OVERSEAS
Beijing, Seoul, Los Angeles
(Subsidiary): Murakami Europe (France), Murakami America, other
OFFICERS
KOJI MURAKAMI, PRES Kenzo
Mihashi, dir
Sanetoshi Nakajima, dir Keiko
Murakami, dir
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 6,078 M
PAYMENTS REGULAR CAPITAL Yen 60 M
TREND STEADY WORTH Yen 432 M
STARTED 1963 EMPLOYES 34
COMMENT
TRADING FIRM SPECIALIZING IN AIRCRAFT PARTS & INDUSTRIAL
EQUIPMENT. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 176.7 MILLION, 30 DAYS NORMAL
TERMS.
HIGHLIGHTS
The subject company was established by father of Koji Murakami
in order to make the most of his experience in the subject line of
business. Koji assumed the pres office
in 1974. This is a trading firm, wholly
owned by the Murakami family, for import, export and wholesale of aircraft
parts & components, aircraft instruments, other. Also handles industrial machinery & equipment. In 1999, acquired Teco Industries (France),
which later in 2001 became its subsidiary, Murakami Europe. Business is seen expanding in the aircraft
industry, including mfrs. Clients
include airlines, heavy machinery mfrs, trading house, others, nationwide.
FINANCIAL INFORMATION
Financials are only partially disclosed.
The sales volume for Feb/2007 fiscal term amounted to Yen 6,078 million, a 23% up from Yen 4,930 million in the previous term. This was thanks to the special procurements related to Boeing 87 Airplanes. The net profit was posted at Yen 128 million, up from Yen 95 million a year ago. Reportedly some extraordinary incomes are included
For the current term ending Feb 2008 the net profit is
projected at Yen 100 million, on a 7% rise in turnover, to Yen 6,500 million. Business is seen steady expanding with the
recovery of airline industry.
The financial situation is considered FAIR and good for
ORDINARY business engagements. Max
credit limit is estimated at Yen 176.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept
1963
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 480,000
shares
Issued: 120,000
shares
Sum: Yen 60 million
Major shareholders (%): Keiko Murakami (38.8), Koji Murakami
(15.4)
No. of shareholders: 4
Nothing detrimental is known as to the commercial morality
of executives.
OPERATION
Activities: Imports, exports and wholesales aircraft parts
& components, instruments & gauges, communication apparatus, lighting systems
(70%), machine tools, industrial machinery & equipment, their parts &
components, others (--30%).
Clients: [Airlines, machinery mfrs, wholesalers] Kawasaki Heavy Ind, Mitsubishi Heavy Ind, Japan Airlines, Fuji Heavy Ind, Shinmaywa Ind, other.
Exports to USA (4%), Europe, other.
No. of accounts: 300
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Murakami America (89.3%), Oxford
Trading, Murakami Europe, Furukawa Sky Aluminum, Japan Aircraft Mfg, Power
Tools, other.
Payment record: Regular
Location: Business area in Amagasaki City, adjacent to Osaka
City. Office premises at the caption
address are owned and maintained satisfactorily.
Bank References
MUFG (Semba-Chuo)
Resona Bank (Amagasaki-Kita)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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29/02/2008 |
28/02/2007 |
28/02/2006 |
28/02/2005 |
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Annual Sales |
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6,500 |
6,078 |
4,930 |
2,433 |
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Recur. Profit |
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Net Profit |
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100 |
128 |
95 |
16 |
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Total Assets |
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2,779 |
N/A |
N/A |
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Net Worth |
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432 |
304 |
209 |
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Capital, Paid-Up |
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60 |
60 |
60 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.94 |
23.29 |
102.63 |
18.16 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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15.55 |
.. |
.. |
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N.Profit/Sales |
1.54 |
2.11 |
1.93 |
0.66 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) for the 29/02/2008 fiscal term.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)