MIRA INFORM REPORT
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Report Date : |
20.05.2013 |
IDENTIFICATION DETAILS
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Name : |
MURATA PARTS SALES 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 : |
April 1975 |
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Com. Reg. No.: |
1300-01-011830 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import, Export, Wholesale of Textile Machine Parts and
Components |
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No. of Employees : |
67 |
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 : |
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 |
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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 |
ECONOMIC OVERVIEW - JAPAN
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 PARTS SALES LTD
Murata Parts Hambai KK
136 Takeda-Mukaishirocho Fushimiku Kyoto 612-8686 JAPAN
Tel: 075-672-8371
Fax: 075-671-9789
E-Mail address: (thru
the URL)
Import, export, wholesale of textile machine parts &
components
Kyoto, Kaga
(Using the parent’s overseas offices worldwide)
(subcontracted)
MASAKATSU SHIMADA, PRES
Yen Amount: In
million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 3,331 M
PAYMENTS NO
COMPLAINTS CAPITAL Yen 10 M
TREND UP WORTH Yen 931 M
STARTED 1975 EMPLOYES 67
TRADING FIRM SPECIALIZING TEXTILE MACHINE PARTS, WHOLLY
OWNED BY MURATA MACHINERY LTD.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
The subject company was established on the basis of a trading
division separated from Murata Machinery Ltd, at the caption address (See
REGISTRATION). This is a trading firm
for import, export and wholesale of textile machinery parts & components. Goods are exported to overseas using the
parent’s overseas branch offices. .
Financial are consolidated by the parent and only partially
disclosed.
The sales volume for Mar/2012 fiscal term amounted to Yen
3,331 million, a 1% up from Yen 3,302 million in the previous term. Exports were hurt by the high Yen, reducing
earnings and profits in Yen terms. The
net profit was posted at Yen 165 million, compared with Yen 191 million a year
ago.
For the term that ended Mar 2013 the net profit was
projected at Yen 175 million, on a 5% rise in turnover, to Yen 3,500
million. Final results are yet to be
released.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
Date Registered:
Apr 1975
Regd No.:
1300-01-011830 (Kyoto-Fushimiku)
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 8,000 shares
Issued:
2,000 shares
Sum: Yen 10 million
Major shareholders (%): Murata Machinery Ltd* (100)
*.. Mfr of textile machines, at the caption address, founded
1938, capital Yen 900 million,
Sales Yen 134,291 million, operating profit Yen 1,133
million, recurring profit Yen 3,256 million, net profit Yen 359 million, total
assets Yen 218,229 million, net worth Yen 103,617 million, employees 2,061,
pres Daisuke Murata
Nothing detrimental is known as to the commercial morality
of executives.
Activities:
Imports, exports and wholesales textile machinery parts & components:
spinning machines, automatic winder, twister for industrial yarn, other (100%)
Clients:
[Mfrs, wholesalers] Murata machinery Shanghai, Murata Machinery Taiwan, Murata
Machinery USA, Murata Machinery Europe GmbH, Murata Thailand, Toyotsu
Machinery, Recron Malaysia Sdn Bhd, other
No. of
accounts: Unavailable
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Murata Machinery Ltd, SMC, Sanko Plastics, Tatsumi Shoji
Co, Synztec Co, other
Payment
record: No Complaints
Location: Business area in Kyoto. Office premises at the caption address are
owned by the parent and maintained satisfactorily.
Bank
References:
Mizuho Bank (Kyoto-Chuo)
MUFG (Kyoto-Chuo)
Relations: Satisfactory
(In
Million Yen)
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Terms Ending: |
|
31/03/2013 |
31/03/2012 |
31/03/2011 |
31/03/2010 |
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Annual
Sales |
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3,500 |
3,331 |
3,302 |
2,395 |
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Recur.
Profit |
|
.. |
.. |
.. |
.. |
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Net
Profit |
|
175 |
165 |
191 |
78 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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|
931 |
766 |
575 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
5.07 |
0.88 |
37.87 |
-4.43 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
5.00 |
4.95 |
5.78 |
3.26 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 31/03/2013 fiscal
term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.89 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
SHG |
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 |
-- |
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.