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Report Date : |
12.02.2013 |
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) : |
31.03.2012 |
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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 (Kabushiki Kaisha) |
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Line of Business : |
Manufacturer of synthetic fiber machinery |
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No. of Employees : |
313 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
JAPAN - ECONOMIC OVERVIEW
In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A tiny agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan imports about 60% of its food on a caloric basis. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2011 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2011. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan further into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake in March disrupted manufacturing. Electricity supplies remain tight because Japan has temporarily shut down almost all of its nuclear power plants after the Fukushima Daiichi nuclear reactors were crippled by the earthquake and resulting tsunami. Estimates of the direct costs of the damage - rebuilding homes, factories, and infrastructure - range from $235 billion to $310 billion, and GDP declined almost 0.5% in 2011. Prime Minister Yoshihiko NODA has proposed opening the agricultural and services sectors to greater foreign competition and boosting exports through membership in the US-led Trans-Pacific Partnership trade talks and by pursuing free-trade agreements with the EU and others, but debate continues on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
Source
: CIA
TMT MACHINERY INC
REGD NAME: TMT
Machinery KK
MAIN OFFICE: Osaka
Green Bldg 6F, 2-6-26 Kitahama Chuoku Osaka 541-0041 JAPAN
Tel:
06-6204-8370 Fax: 06-6204-8371
URL: http://www.tmt-mc.jp
E-Mail address: info@tmt-mc.jp
Mfg of synthetic
fiber machinery
Osaka, Kyoto
Inuyama (Shiga),
Matsuyama; Kyoto (Tech Center)
Shanghai (2);
Seoul (2), Daegue, Gumi (--Korea), Taipei, USA (2), Mumbai,
Istanbul, Milan,
Sao Paulo
Jun’ichi Murata,
ch* SHOSAKU MIKI, PRES
Kazuo Kikkawa, v
pres Ryugo Ogasawara, v pres
*.. Chairman of
Murata Machinery Ltd
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 53,665 M
PAYMENTS REGULAR CAPITAL Yen
450 M
TREND STEADY WORTH Yen
11,777 M
STARTED 2002 EMPLOYES 313
MFR OF SYNTHETIC FIBER MACHINERY.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
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. In Feb 2012 acquired ordinary
shares of Kimitsu Seisakusho and went into business tie-up. 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.
The sales volume for Mar/2012 fiscal
term amounted to Yen 53,665 million, a 13% up from Yen 47,414 million in the
previous term. This is attributed to the
said business tie-up with Kimitsu Seisakusho.
Exports were robust into China, India, other. The net profit was posted at Yen 2,829 million,
compared with Yen 3,675 million a year ago.
For the current
term ending Mar 2013 the net profit is projected at Yen 2,900 million, on a 3%
rise in turnover, to Yen 55,200 million.
Exports continue rising.
The financial
situation is considered FAIR and good for ORDINARY business engagements.
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.
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
(In Million Yen)
|
Terms Ending: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
|
Annual
Sales |
|
55,200 |
53,665 |
47,414 |
23,659 |
|
Recur.
Profit |
|
|
|
5,691 |
1,311 |
|
Net
Profit |
|
2,900 |
2,829 |
3,675 |
852 |
|
Total
Assets |
|
|
30,099 |
28,711 |
19,683 |
|
Current
Assets |
|
|
27,026 |
26,538 |
18,003 |
|
Current
Liabs |
|
|
16,635 |
18,695 |
12,907 |
|
Net
Worth |
|
|
11,777 |
9,398 |
6,172 |
|
Capital,
Paid-Up |
|
|
450 |
450 |
450 |
|
Div.Ttl
in Million(¥) |
|
|
450 |
450 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
2.86 |
13.18 |
100.41 |
-12.95 |
|
|
Current Ratio |
|
.. |
162.46 |
141.95 |
139.48 |
|
N.Worth Ratio |
.. |
39.13 |
32.73 |
31.36 |
|
|
R.Profit/Sales |
|
.. |
.. |
12.00 |
5.54 |
|
N.Profit/Sales |
5.25 |
5.27 |
7.75 |
3.60 |
|
|
Return On Equity |
.. |
24.02 |
39.10 |
13.80 |
|
Note: Forecast (or
estimated) for the 31/03/2013 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.68 |
|
|
1 |
Rs.84.84 |
|
Euro |
1 |
Rs.71.87 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
-- |
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.