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Report Date : |
02.05.2013 |
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) : |
31.03.2012 |
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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 : |
1,990 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 |
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
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Source
: CIA |
MURATA MACHINERY LTD
REGD NAME: Murata
Kikai KK
MAIN OFFICE: 136
Takeda-Mukaishirocho Fushimiku Kyoto 612-8686 JAPAN
Tel:
075-672-8130 Fax: 075-672-8691
Osaka Branch Office (Logistic & Automation Div)
Osaka Green Bldg
7F No. 2-6-26 Kitahama, Chuo-Ku Osaka 541004
*Inuyama Factory at: Machine Tools
division 2 Nakjima Hashizume Inyama City 4848502, Japan
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 134,291 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 900 M
TREND STEADY WORTH Yen 103,617 M
STARTED 1938 EMPLOYES 1,990
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 65% of total
sales.
The sales volume for Mar/2012 fiscal term amounted to Yen 134,291 million, a 9% up from Yen 123,411 million in the previous term. Demand rose sharply, particularly for textile machinery in China and other S/E Asian countries. The sales growth offset the loss from the high Yen. The recurring profit was posted at Yen 3,256 million and the net profit at Yen 359 million, respectively, compared with Yen 4,917 million recurring profit and Yen 3,847 million net profit, respectively, a year ago.
For the current term ending Mar 2013 the recurring profit is projected at Yen 3,300 million and the net profit at Yen 360 million, respectively, on a 3% rise in turnover, to Yen 138,000 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 (37%): spinning frames, auto winders, electric dobbins;
Communication
Equipment (10%): digital multifunctional products, laser & thermal Fax machines;
Logistics
& Automation Equipment Systems (36%): systems for medical supplies,
apparel, beverages, foodstuffs, sporting,
data management, others;
Machine
Tools (16%): tuning machines, sheet metal fabricating machines, lathes;
Hydraulic
riveting machines, magnetic induction sensors, others (--1%).
Export
(65%).
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: No Complaints
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: |
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
|
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Annual
Sales |
|
138,000 |
134,291 |
123,411 |
84,938 |
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Recur.
Profit |
|
3,300 |
3,256 |
4,917 |
-189 |
|
Net
Profit |
|
360 |
359 |
3,847 |
-845 |
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Total
Assets |
|
|
218,229 |
207,039 |
179,080 |
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Current
Assets |
|
|
153,599 |
142,636 |
121,383 |
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Current
Liabs |
|
|
114,612 |
104,033 |
67,013 |
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Net
Worth |
|
|
103,617 |
103,006 |
100,892 |
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Capital,
Paid-Up |
|
|
900 |
900 |
900 |
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Div.P.Share(¥) |
|
|
10.00 |
10.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
2.76 |
8.82 |
45.30 |
-30.31 |
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Current Ratio |
|
.. |
134.02 |
137.11 |
181.13 |
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N.Worth Ratio |
.. |
47.48 |
49.75 |
56.34 |
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R.Profit/Sales |
|
2.39 |
2.42 |
3.98 |
-0.22 |
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N.Profit/Sales |
0.26 |
0.27 |
3.12 |
-0.99 |
|
|
Return On Equity |
.. |
0.35 |
3.73 |
-0.84 |
|
Notes: Forecast
figures for the 31/03/2013fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.22 |
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UK Pound |
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
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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 |
---- |
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.