MIRA
INFORM REPORT
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Report Date : |
12.09.2007 |
IDENTIFICATION DETAILS
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Name : |
TMT MACHINERY
INC |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Apr 2002 |
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Legal Form : |
Limited Company (Kabushiki
Kaisha) |
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Line of Business : |
Manufacturing of textile
machinery |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
Yen 326 millions |
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Status : |
Good |
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Payment Behaviour : |
Regular |
name
TMT MACHINERY INC
REGD NAME
TMT Machinery KK
MAIN OFFICE
Tel : 0-6204-6370
Fax : 06-6204-6371
URL : http://www.tmt-mc.jp
E-Mail
address: info@tmt-mc.jp
ACTIVITIES
Mfg of
textile machinery
BRANCHES
FACTORY(IES)
Inuyama
(Shiga),
OVERSEAS
OFFICERS
Jun’ichi
Murata, ch KAZUHIKO
Shosaku
Miki, v pres Kiyoharu
Daisuke
Murata, dir Kazuyuki
Matsumoto, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 31,808 M
PAYMENTS REGULAR CAPITAL Yen 450 M
TREND STEADY WORTH Yen
2,752 M
STARTED 2002 EMPLOYES 304
COMMENT
MFR OF TEXTILE MACHINERY. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 326 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established as a tripartite JV by Toray Engineering Co Ltd, Murata Machinery Ltd and Teijin Seiki Co Ltd (now Nabtesco Corp), on the basis of their textile machinery business units merged. The merger was prompted by ever fiercer competition in the textile machinery businesses. The first stage merger started in Apr 2002 when the new firm succeeded sales and R&D operations from each of the three parties, followed by the second stage where mfg function including three mfg factories transferred to this new venture in Apr 2003. By this transfer the new outfit started its full-scale operations as from Apr 2003. Its main product lines are centering on spinning machines & take-up machines, and texturing machines for synthetic fiber.
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen 31,808
million, a 58% sharp rise from Yen 20,194 million in the previous term. Sales jumped thanks to rising demand for
quality spinning machines from
For the current term ending Mar 2008 the net profit is projected at Yen 480 million, on a 5% rise in turnover, to Yen 33,500 million. Demand continues
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 326 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Apr 2002
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 9,000 shares
Issued: 9,000 shares
Sum: Yen 450 million
Major shareholders (%): Murata Machinery Ltd (34), Toray Engineering Co Ltd (33), Nabtesco Corp (ex Teijin
Seiki Machinery) (33)
No. of shareholders: 3
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Manufactures synthetic fiber producing machinery & systems (--100%): Spinning & draw process systems, take-up panels, take-up winders, draw-texturing machines, air-texturing machines, other associated components & accessories.
Clients:
[Textile mfrs] Exports to
No. of
accounts: Unavailable
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Supplied from Murata Machinery, Toray Engineering & Nabtesco Corp.
Payment
record: Regular
Location: Business area in
Bank References
SMBC (
MUFG (
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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Terms Ending: |
31/03/2008 |
31/03/2007 |
31/03/2006 |
31/03/2005 |
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Annual
Sales |
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33,500 |
31,808 |
20,194 |
38,951 |
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Recur.
Profit |
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508 |
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Net
Profit |
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480 |
473 |
-896 |
400 |
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Total
Assets |
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16,499 |
10,392 |
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Current
Assets |
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15,240 |
8,740 |
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Current
Liabs |
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12,218 |
6,593 |
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Net
Worth |
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2,752 |
2,279 |
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Capital,
Paid-Up |
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450 |
450 |
450 |
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Div.P.Share(¥) |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.32 |
57.51 |
-48.16 |
-18.30 |
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Current Ratio |
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.. |
124.73 |
132.56 |
.. |
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N.Worth Ratio |
.. |
16.68 |
21.93 |
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R.Profit/Sales |
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.. |
1.60 |
.. |
.. |
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N.Profit/Sales |
1.43 |
1.49 |
-4.44 |
1.03 |
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Return On Equity |
.. |
17.19 |
-39.32 |
.. |
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Note:
Financials are disclosed in digested forms.
Forecast
(or estimated) for the 31/03/2008 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%)