MIRA INFORM REPORT
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Report Date : |
12.03.2011 |
IDENTIFICATION DETAILS
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Name : |
MURATA MACHINERY LTD |
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Registered Office : |
136 Takeda-Mukaishirocho Fushimiku |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
December 1938 |
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Com. Reg. No.: |
(Kyoto-Minamiku) 011817 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of textile machinery, communication
equipment, machine tools, automated systems |
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 3,642.8
million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Company name
MURATA MACHINERY LTD
REGD NAME
Murata Kikai KK
MAIN OFFICE
136
Takeda-Mukaishirocho Fushimiku Kyoto 612-8686
Tel:
075-672-8130 Fax: 075-672-8691
*.. The given
address is its Osaka Branch at: Osaka Green Bldg 7F,
2-6-26 Kitahama Chuoku Osaka, as given.
URL: http://www.muratec.net.jp/
E-Mail address: (thru the URL)
ACTIVITIES
Mfg of
textile machinery, communication equipment, machine tools, automated systems
BRANCHES
FACTORIES
Inuyama,
Kaga, Ryuoh,
OVERSEAS
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 84,938 M
PAYMENTS REGULAR CAPITAL Yen 900 M
TREND SLOW WORTH Yen
100,892 M
STARTED 1938 EMPLOYES 1,880
COMMENT
MFR SPECIALIZING IN
TEXTILE MACHINERY AND OTHER INDUSTRIAL MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 3,642.8
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 55% of total sales.
FINANCIAL INFORMATION
The sales volume for
Mar/2010 fiscal term amounted to Yen 84,938 million, a 30% down from Yen
121,882 in the previous term. The term
began amid a murky economic outlook stemming from the global economic downturn
that ensued from Lehman Brothers’ collapse in the previous autumn. Exports declined substantially because of a
decline in demand and the appreciation of the Yen. Furthermore, amid a sharp deterioration in
corporate earnings, capital expenditure fell significantly, and consumer
spending became sluggish. Machine tool
orders tumbled 73.1% in June 2009, according to data released by the Japan
Machine Tool Builders’ Assn. Domestic
orders nose-dived 74.7%, while overseas orders shrank 71.7%. The operations continued in the deficit to
register Yen 189 million recurring loss and Yen 845 million net losses,
respectively, compared with Yen 1,834 million recurring loss and Yen 2,912
million net losses, respectively, a year ago.
For the current term
ending Mar 2011 the operations are expected to come back to profitability and
the recurring profit is projected at Yen 1,000 million and the net profit at
Yen 1,000 million, respectively, on a 12% rise in turnover, to Yen 95,000
million. Market is seen revived. Machine tool orders soared 220% in April
2010, according to data the Japan Machine Tool Builders’ Assn released. Domestic demand expanded 90%, while overseas
demand jumped 350%.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 3,642.8
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*(39.2), Murata Kosan
KK*(15.1), Jun’ichi Murata (13.9), Daisuke Murata
(4.4), Yosuke Murata (4)
* Group subsidiaries
No. of shareholders: 23
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities:
Manufactures:
Textile Machinery (24%):
spinning frames, auto winders, electric dobbins;
Communication Equipment (11%):
digital multifunctional products, laser & thermal Fax machines;
Logistics & Automation Equipment Systems (42%):
systems for medical supplies, apparel, beverages, foodstuffs, sporting, data
management, others;
Machine Tools (22%):
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, 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, other.
Payment record:
Regular
Location:
Business area in
Bank References:
Mizuho
Bank (Kyoto-Chuo)
SMBC (
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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95,000 |
84,938 |
121,882 |
164,779 |
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Recur.
Profit |
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1,000 |
-189 |
-1,834 |
8,226 |
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Net
Profit |
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1,000 |
-845 |
-2,912 |
3,671 |
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Total
Assets |
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179,080 |
170,498 |
195,297 |
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Current
Assets |
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121,383 |
117,785 |
137,748 |
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Current
Liabs |
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67,013 |
64,572 |
82,395 |
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Net
Worth |
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100,892 |
100,437 |
105,124 |
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Capital,
Paid-Up |
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|
900 |
900 |
900 |
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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 |
11.85 |
-30.31 |
-26.03 |
29.54 |
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Current
Ratio |
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.. |
181.13 |
182.41 |
167.18 |
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N.Worth
Ratio |
.. |
56.34 |
58.91 |
53.83 |
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R.Profit/Sales |
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1.05 |
-0.22 |
-1.50 |
4.99 |
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N.Profit/Sales |
1.05 |
-0.99 |
-2.39 |
2.23 |
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Return
On Equity |
.. |
-0.84 |
-2.90 |
3.49 |
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Notes:
Forecast figures for the 31/03/2011fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.21 |
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1 |
Rs.72.55 |
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Euro |
1 |
Rs.62.43 |
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 |
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.