MIRA INFORM REPORT
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Report Date : |
27.09.2011 |
IDENTIFICATION DETAILS
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Name : |
TMT MACHINERY INC |
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Registered Office : |
Osaka Green Bldg 6F, 2-6-26 Kitahama
Chuoku Osaka 541-0041 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
April 2002 |
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Com. Reg. No.: |
(Osaka-Chuoku) 101171 |
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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 : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 1,084.7 Million |
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Status : |
Moderate |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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: 06-6204-6370 Fax: 06-6204-6371
URL: http://www.tmt-mc.jp
E-Mail address: info@tmt-mc.jp
ACTIVITIES
Mfg of
textile machinery
BRANCHES
Osaka,
Kyoto
FACTORIES
Inuyama
(Shiga), Matsuyama; Kyoto (Tech Center)
OVERSEAS
Shanghai
(2); Seoul (2), Daegue, Gumi (--Korea), Taipei, USA (2), Mumbai, Istanbul,
Milan, Sao Paulo
OFFICERS
Jun’ichi
Murata, ch* SHOSAKU
MIKI, PRES
Kazuo
Kikkawa, v pres Ryugo
Ogasawara, v pres
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 47,414 M
PAYMENTS REGULAR CAPITAL Yen 450 M
TREND STEADY WORTH Yen
9,398 M
STARTED 2002 EMPLOYES 282
COMMENT
MFR OF TEXTILE MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 1,084.7 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 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 China, India, Taiwan, other. Domestic clients include major textile machinery mfrs, general trading houses, other, nationwide.
FINANCIAL INFORMATION
The sales volume for Mar/2011 fiscal term amounted to Yen 47,414 million, a 100% up from Yen 23,659 million in the previous term. Exports into China and S/E Asian countries were robust, far more than expected. The recurring profit was posted at Yen 5,691 million and the net profit at Yen 3,675 million, respectively, compared with Yen 1,311 million recurring profit and Yen 852 million net profit, respectively, a year ago.
For the current term ending Mar 2012 the recurring profit is projected at Yen 5,800 million and the net profit at Yen 3,800 million, respectively, on a 5% rise in turnover, to Yen 50,000 million. Exports continue rising.
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 1,084.7 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr 2002
Regd No.: (Osaka-Chuoku) 101171
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 India, China, Taiwan, other, directly and thru traders.
Domestic clients: Marubeni Tekmatex, Sojitz Corp, Toray Engineering, Itochu SysTech Corp, 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, TMT Shanghai, other.
Payment record:
Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
· SMBC (Kyoto)
· Mizuho Bank (Kyoto-Chuo)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
31/03/2012 |
31/03/2011 |
31/03/2010 |
31/03/2009 |
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Annual
Sales |
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50,000 |
47,414 |
23,659 |
27,180 |
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Recur.
Profit |
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5,800 |
5,691 |
1,311 |
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Net
Profit |
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3,800 |
3,675 |
852 |
998 |
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Total
Assets |
|
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28,711 |
19,683 |
14,328 |
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Current
Assets |
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26,538 |
18,003 |
12,712 |
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Current
Liabs |
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18,695 |
12,907 |
8,229 |
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Net
Worth |
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9,398 |
6,172 |
5,544 |
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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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25,000.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.45 |
100.41 |
-12.95 |
-7.32 |
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Current Ratio |
|
.. |
141.95 |
139.48 |
154.48 |
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N.Worth Ratio |
.. |
32.73 |
31.36 |
38.69 |
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R.Profit/Sales |
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11.60 |
12.00 |
5.54 |
.. |
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N.Profit/Sales |
7.60 |
7.75 |
3.60 |
3.67 |
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Return On Equity |
.. |
39.10 |
13.80 |
18.00 |
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Note:
Forecast (or estimated) for the 31/03/2012 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.62 |
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UK Pound |
1 |
Rs.76.68 |
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Euro |
1 |
Rs.66.47 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.