MIRA
INFORM REPORT
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Report Date : |
09.05.2011 |
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) : |
31.03.2011 |
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Year of Establishment : |
April
2002 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of textile 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 448.1 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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Japan |
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
TMT MACHINERY INC
REGD NAME
TMT Machinery KK
MAIN OFFICE
Osaka Green Bldg 6F,
2-6-26 Kitahama Chuoku Osaka 541-0041 JAPAN
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
FACTORIES
Inuyama (Shiga),
OVERSEAS
OFFICERS
Jun’ichi Murata,
ch* KAZUHIKO
Shosaku Miki, v
pres** Kiyoharu
Iwaki, v pres
Daisuke Murata,
dir*** Kazuyuki
Matsumoto, dir****
* ch of Murata Machinery Ltd;
** dir of Murata Machinery Ltd; *** pres of
Murata Machinery Ltd; **** pres of Nabetesco Corporation
Yen Amount: In million Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 23,659 M
PAYMENTS REGULAR CAPITAL Yen 450 M
TREND SLOW WORTH Yen
6,172 M
STARTED 2002 EMPLOYES 303
COMMENT
MFR OF TEXTILE MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT:
YEN 448.1 MILLION, 30 DAYS NORMAL TERMS.
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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 business. 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 were transferred to this new venture in Apr 2003. By this transfer the new outfit started its
full-scale operations as from Apr 2003.
In Nov 2006 took over Shanghai TMT.
Its main product lines are centering on spinning machines & take-up
machines, and texturing machines for synthetic fiber (See OPERATION). Goods are
exported to
FINANCIAL INFORMATION
The sales volume
for Mar/2010 fiscal term amounted to Yen 23,659 million, a 13% down from Yen
27,180 million in the previous term.
This is referred to the transfer of some operations to a sister
company. The recurring profit was posted
at Yen 1,311 million and the net profit at Yen 852 million, respectively,
compared with Yen 998 million net profit a year ago.
For the current
term ending Mar 2011 the recurring profit is projected at Yen 1,350 million and
the net profit at Yen 860 million, respectively, on a 4% rise in turnover, to
Yen 24,500 million.
The financial
situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 448.1
million, on 30 days normal terms.
REGISTRATION
Date Registered:
Apr 2002
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 18,000 shares
Issued:
18,000 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, other associated components
& accessories (--100%):
(Breakdown):
Spinning Systems: macro filament
spinning, PA6/66 spinning, industrial yarn spinning;
Take-up Machines: for PET/PA, for
spandex, for heavy denier yarn, other;
Texturing
Machines: draw-texturing, other.
Clients: [Textile mfrs]
Exports to
Domestic clients: Marubeni Tekmatex, Sojitz Corp,
Toray Engineering, Itochu Plamac, other
No. of accounts: 500 (Domestically)
Domestic areas of activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Supplied from Murata Machinery, Toray Engineering & Nabtesco
Corp and their subsidiary mfrs.
Payment
record: Regular
Location: Business area in
Bank References:
SMBC (
Mizuho Bank
(Kyoto-Chuo)
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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24,500 |
23,659 |
27,180 |
29,326 |
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Recur.
Profit |
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1,350 |
1,311 |
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2,430 |
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Net
Profit |
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860 |
852 |
998 |
3,430 |
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Total
Assets |
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19,683 |
14,328 |
17,403 |
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Current
Assets |
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18,003 |
12,712 |
16,013 |
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Current
Liabs |
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12,907 |
8,229 |
10,820 |
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Net
Worth |
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6,172 |
5,544 |
4,770 |
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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 |
3.55 |
-12.95 |
-7.32 |
-7.80 |
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Current Ratio |
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.. |
139.48 |
154.48 |
147.99 |
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N.Worth Ratio |
.. |
31.36 |
38.69 |
27.41 |
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R.Profit/Sales |
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5.51 |
5.54 |
.. |
8.29 |
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N.Profit/Sales |
3.51 |
3.60 |
3.67 |
11.70 |
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Return On Equity |
.. |
13.80 |
18.00 |
71.91 |
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Note: Financials
are disclosed in digested forms.
Forecast (or estimated)
for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.78 |
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1 |
Rs.73.43 |
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Euro |
1 |
Rs.65.27 |
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.