MIRA INFORM REPORT

 

 

Report Date :           

10.06.2011

 

IDENTIFICATION DETAILS

 

Name :

MURATA MACHINERY LTD

 

 

Registered Office :

136 Takeda-Mukaishirocho Fushimiku Kyoto 612-8686

 

 

Country :

Japan

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

December 1938

 

 

Com. Reg. No.:

(Kyoto-Minamiku) 011817

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Mfg of textile machinery, communication equipment, machine tools, automated systems, clean systems

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

Yen 4,192.6 Million

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Japan

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

 Bottom of Form

MURATA MACHINERY LTD

 

 

REGD NAME 

 

Murata Kikai KK

 

 

MAIN OFFICE

 

136 Takeda-Mukaishirocho Fushimiku Kyoto 612-8686 JAPAN

 

Tel: 075-672-8130     Fax: 075-672-8691

*.. The given address is its Inuyama Factory at: 2 Nakajima Hashizume  Inuyama City Aichi-Pref.

 

URL:                             http://www.muratec.net.jp/

E-Mail address:            (thru the URL)

 

 

ACTIVITIES  

 

Mfg of textile machinery, communication equipment, machine tools, automated systems, clean systems

 

 

BRANCHES

 

Tokyo, Osaka, Nagoya, Yokohama, Fukuoka

 

 

FACTORIES  

 

Inuyama, Kaga, Ryuoh, Oita, Ise, Gifu

 

 

OVERSEAS   

 

China (6), Hong Kong, Korea (2), Thailand, Vietnam, Indonesia, India (3), Bangladesh, Pakistan, Europe/Mid East (4), N/S Americas (2) (--subsidiaries)

 

OFFICERS

 

Jun’ichi Murata, ch                                 DAISUKE MURATA, PRES

Yosuke Murata, v pres                            Takao Hayashi, s/mgn dir

Masakazu Yamamoto, s/mgn dir             Yoshiharu Tanaka, mgn dir

 

Yen Amount:     In million Yen, unless otherwise stated

 

 

SUMMARY    

 

FINANCES                    FAIR                             A/SALES          Yen 123,411 M

PAYMENTS      REGULAR                     CAPITAL           Yen 900 M

TREND             STEADY                       WORTH            Yen 103,006 M

STARTED                     1938                             EMPLOYES      1,971

 

 

COMMENT    

 

MFR SPECIALIZING IN TEXTILE MACHINERY AND OTHER INDUSTRIAL MACHINERY. 

 

FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.

 

MAX CREDIT LIMIT: YEN 4,192.6 MILLION, 30 DAYS NORMAL TERMS.

 

 

HIGHLIGHTS

 

The subject company was established by a certain Murata for mfg textile machinery and     has been succeeded by his descendants.  The firm has since diversified operations into           communications equipment, logistics & automated systems, machine tools, etc, in addition to             textile machinery, which still remains as the main pillar.  Focusing on FA/OA equipment & systems, and communications/networking equipment.  In 2009, acquired Assist Technologies Japan, mfr of automated semiconductor making machinery.   Aggressively advancing into overseas markets, with exports accounting for 47% of total sales.

 

 

FINANCIAL INFORMATION

 

The sales volume for Mar/2011 fiscal term amounted to Yen 123,411 million, a 45% sharp rise from Yen 84,938 million in the previous term.  Demand rose sharply, particularly for machine tools in China and other S/E Asian countries.  The sales growth offset the loss from the high Yen.  The operations came back profitability to register Yen 4,917 million recurring profit and Yen 3,847 million net profit, respectively, compares with Yen 189 recurring loss and Yen 845 million net losses, respectively, a year ago.

 

For the current term ending Mar 2012 the recurring profit is projected at Yen 5,000 million and the net profit at Yen 4,000 million, respectively, on a 4% rise in turnover, to Yen 128,000 million.  Machine tool orders in May rose 34.2%: domestic demand rose 13.4%, while overseas demand expanded 45.6&.  Business is seen expanding steadily.

 

The financial situation is considered FAIR and good for ORDINARY business engagements.  Max credit limit is estimated at Yen 4,192.6 million, on 30 days normal terms.

 

 

REGISTRATION

           

Date Registered:  Dec 1938

Regd No.:           (Kyoto-Minamiku) 011817

Legal Status:      Limited Company (Kabushiki Kaisha)

Authorized:         18 million shares

Issued:             13,820,000 shares

Sum:                   Yen 900 million

Major shareholders (%): Murata KK*(39.3), Murata Kosan KK*(15.2), Jun’ichi Murata(13.9), Daisuke Murata (4.9), Yosuke Murata (4.0) * Group subsidiaries

 

No. of shareholders: 20

 

Nothing detrimental is known as to the commercial morality of executives.

 

 

OPERATION

 

Activities: Manufactures:

           

Textile Machinery (27%): spinning frames, auto winders, electric dobbins;

 

Communication Equipment (13%): digital multifunctional products, laser & thermal Fax machines;

 

Logistics & Automation Equipment Systems (47%): systems for medical supplies, apparel, beverages, foodstuffs, sporting, data management, others;

 

Machine Tools (12%): tuning machines, sheet metal fabricating machines, lathes;

 

Hydraulic riveting machines, magnetic induction sensors, others (--1%).

 

Export 55%.

           

Clients: [Mfrs, wholesalers] Itochu Systech Corp, Toyota Tsusho Corp, Asahi Breweries, Nippon Paint, Marubeni Techmatecs, Taisei Corp, Toppan Printing, Oki Electric Ind, Yamato Transport Co, other.

            No. of accounts: 2,000

            Domestic areas of activities: Nationwide

 

Suppliers: [Mfrs, wholesalers] Fanuc Ltd, Konica Minolta Business Technologies, Fuji       Xerox, Tokai EC, SMC, Uster Technologies, Takebishi Corp, NEC Fielding, Okura Yu soki Co, other.

 

Payment record: Regular

 

Location: Business area in Kyoto.  Office premises at the caption address are owned and maintained satisfactorily.

 

Bank References:

Mizuho Bank (Kyoto-Chuo)

SMBC (Kyoto)

Relations: Satisfactory

 

 

FINANCES

(In Million Yen)

 

       Terms Ending:

31/03/2012

31/03/2011

31/03/2010

31/03/2009

Annual Sales

　

128,000

123,411

84,938

121,882

Recur. Profit

　

5,000

4,917

-189

-1,834

Net Profit

　

4,000

3,847

-845

-2,912

Total Assets

　

　

207,039

179,080

170,498

Current Assets

　

　

142,636

121,383

117,785

Current Liabs

　

　

104,033

67,013

64,572

Net Worth

　

　

103,006

100,892

100,437

Capital, Paid-Up

　

　

900

900

900

Div.P.Share(¥)

　

　

10.00

0.00

0.00

<Analytical Data>

(%)

(%)

(%)

(%)

    S.Growth Rate

3.72

45.30

-30.31

-26.03

    Current Ratio

 

..

137.11

181.13

182.41

    N.Worth Ratio

..

49.75

56.34

58.91

    R.Profit/Sales

 

3.91

3.98

-0.22

-1.50

    N.Profit/Sales

3.13

3.12

-0.99

-2.39

    Return On Equity

..

3.73

-0.84

-2.90

 

Notes: Forecast figures for the 31/03/2012fiscal term.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.47

Euro

1

Rs.65.38

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.