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Report Date : |
12.07.2013 |
IDENTIFICATION DETAILS
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Name : |
MURATA MACHINERY LTD |
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Registered Office : |
136 Takeda-Mukaishirocho Fushimiku Kyoto
612-8686 |
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Country : |
Japan |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
December 1938 |
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Com. Reg. No.: |
1300-01-000054
(Kyoto-Minamiku) |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturer of textile machinery, communication
equipment, machine tools, automated systems, clean systems |
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No. of Employees : |
2061 |
RATING & COMMENTS
|
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 |
|
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
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 small agricultural
sector is highly subsidized and protected, with crop yields among the highest
in the world. While self-sufficient in rice production, Japan imports about 60%
of its food on a caloric basis. 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. Modest economic
growth continued after 2000, but the economy has fallen into recession three
times since 2008. A sharp downturn in business investment and global demand for
Japan's exports in late 2008 pushed Japan 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 and the
ensuing tsunami in March disrupted manufacturing. The economy has largely
recovered in the two years since the disaster, but reconstruction in the Tohoku
region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared
the economy his government's top priority; he has pledged to reconsider his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus and regulatory reform and has
said he will press the Bank of Japan to loosen monetary policy. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2012 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 2012. The new government will continue a longstanding debate 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 |
MURATA MACHINERY LTD
Murata Kikai KK
136
Takeda-Mukaishirocho Fushimiku Kyoto 612-8686 JAPAN
Tel:
075-672-8130
Fax: 075-672-8691
*.. The is its Osaka Branch Office (Logistic & Automation Div)
URL: http://www.muratec.net.jp/
E-Mail address: (thru
the URL)
Mfg of
textile machinery, communication equipment, machine tools, automated systems,
clean systems
Tokyo, Osaka, Nagoya, Yokohama, Fukuoka
Inuyama,
Kaga, Ryuoh, Oita, Ise, Gifu
China (6), Hong Kong, Korea (2),
Thailand, Vietnam, Indonesia, India (3), Bangladesh, Pakistan, Europe/Mid East
(4), N/S Americas (2) (--subsidiaries)
Jun’ichi
Murata, ch DAISUKE
MURATA, PRES
Yosuke
Murata, v pres Toshihiro Okada, mgn dir
Akira Maeda, mgn dir Yasuo Uozumi, mgn dir
Yen
Amount: In million Yen, unless
otherwise stated
FINANCES FAIR A/SALES Yen 133,205 M
PAYMENTS REGULAR CAPITAL Yen
900 M
TREND STEADY WORTH Yen
114,129 M
STARTED 1938 EMPLOYES 2,061
MFR SPECIALIZING IN TEXTILE MACHINERY AND OTHER INDUSTRIAL
MACHINERY.
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
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 63% of total sales.
The sales volume for Mar/2013 fiscal term amounted to Yen 133,205 million, a shade down from Yen 134,291 million in the previous term. The recurring profit was posted at Yen 7,382 million and the net profit at Yen 7,513 million, respectively, compared with Yen 1,256 million recurring profit and Yen 359 million net profit, respectively, a year ago.
For the current term ending Mar 2014 the recurring profit is projected at Yen 7,500 million and the net profit at Yen 8,000 million, respectively, on a 5% rise in turnover, to Yen 140,000 million. Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY business engagements.
Date Registered: Dec 1938
Regd No.: 1300-01-000054 (Kyoto-Minamiku)
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.
Activities: Manufactures:
Textile Machinery (34%): spinning frames, auto winders, electric dobbins;
Communication Equipment (8%): digital multifunctional products, laser & thermal Fax machines;
Logistics & Automation Equipment Systems (37%): systems for medical supplies, apparel, beverages, foodstuffs, sporting, data management, others;
Machine Tools (21%): tuning machines, sheet metal fabricating machines, lathes;
Export (63%).
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, Hitachi Zosen Corp, other.
No. of accounts: 1,000
Domestic areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Fanuc Ltd, Konica Minolta Business Solutions, 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
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
140,000 |
133,205 |
134,291 |
123,411 |
|
Recur.
Profit |
|
7,500 |
7,382 |
1,256 |
4,917 |
|
Net
Profit |
|
8,000 |
7,513 |
359 |
3,847 |
|
Total
Assets |
|
|
225,611 |
218,229 |
207,039 |
|
Current
Assets |
|
|
162,953 |
153,599 |
142,636 |
|
Current
Liabs |
|
|
111,482 |
114,612 |
104,033 |
|
Net
Worth |
|
|
114,129 |
103,617 |
103,006 |
|
Capital,
Paid-Up |
|
|
900 |
900 |
900 |
|
Div.P.Share(¥) |
|
|
10.00 |
0.00 |
10.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
5.10 |
-0.81 |
8.82 |
45.30 |
|
|
Current Ratio |
|
.. |
146.17 |
134.02 |
137.11 |
|
N.Worth Ratio |
.. |
50.59 |
47.48 |
49.75 |
|
|
R.Profit/Sales |
|
5.36 |
5.54 |
0.94 |
3.98 |
|
N.Profit/Sales |
5.71 |
5.64 |
0.27 |
3.12 |
|
|
Return On Equity |
.. |
6.58 |
0.35 |
3.73 |
|
Notes:
Forecast figures for the 31/03/2014fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.64 |
|
UK Pound |
1 |
Rs.90.14 |
|
Euro |
1 |
Rs.77.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.