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Report Date : |
27.10.2014 |
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) : |
31.03.2014 |
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Date of Incorporation : |
December 1938 |
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Com. Reg. No.: |
1300-01-000054 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing of textile machinery, communication equipment, machine tools,
automated systems, clean systems |
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No. of Employees |
3,000 |
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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 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. Prime Minister Shinzo ABE
has declared the economy his government's top priority; he has overturned his
predecessor's plan to permanently close nuclear power plants and is pursuing an
economic revitalization agenda of fiscal stimulus, monetary easing, and
structural reform. Japan joined the Trans Pacific Partnership negotiations in
2013, a pact that would open Japan's economy to increased foreign competition
and create new export opportunities for Japanese businesses. Measured on a
purchasing power parity (PPP) basis that adjusts for price differences, Japan
in 2013 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 is
exceeding 230% of GDP. To help raise government revenue and reduce public debt,
Japan decided in 2013 to gradually increase the consumption tax to a total of
10% by the year 2015. Japan is making progress on ending deflation due to a
weaker yen and higher energy costs, but reliance on exports to drive growth and
an aging, shrinking population pose other major long-term challenges for the
economy
|
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
*.. 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 177,945 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 900 M
TREND STEADY WORTH Yen 126,291 M
STARTED 1938 EMPLOYES 3,000
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/2014 fiscal term amounted to Yen 177,945
million, a 33% up from Yen 133,205 million in the previous term. The recurring profit was posted at Yen 18,066
million and the net profit at Yen 10,042 million, respectively, compared with
Yen 7,382 million recurring profit and Yen 7,513 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the recurring profit is projected
at Yen 19,000 million and the net profit at Yen 11,000 million, respectively,
on a 5% rise in turnover, to Yen 186,500 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 (26%): spinning frames, auto winders, electric dobbins;
Communication Equipment (8%): digital multifunctional products, laser & thermal
Fax machines;
Logistics & Automation Equipment Systems (22%): systems for medical supplies,
apparel, beverages, foodstuffs, sporting, data management, others;
Machine Tools (23%): tuning machines, sheet metal fabricating machines, lathes;
Others (29%)
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 Technologies, Fuji Xerox, Tokai EC, SMC, Uster Technologies, Takebishi Corp, NEC Fielding, Okura
Yusoki 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: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
|
|
Annual
Sales |
|
186,500 |
177,945 |
133,205 |
134,291 |
|
Recur.
Profit |
|
19,000 |
18,066 |
7,382 |
1,256 |
|
Net Profit |
|
11,000 |
10,042 |
7,513 |
359 |
|
Total
Assets |
|
|
336,314 |
225,611 |
218,229 |
|
Current
Assets |
|
|
164,317 |
162,953 |
153,599 |
|
Current
Liabs |
|
|
101,342 |
111,482 |
114,612 |
|
Net
Worth |
|
|
126,291 |
114,129 |
103,617 |
|
Capital,
Paid-Up |
|
|
900 |
900 |
900 |
|
Div.P.Share(¥) |
|
|
0.00 |
10.00 |
0.00 |
|
<Analytical Data> |
|
(%) |
(%) |
(%) |
(%) |
|
S.Growth Rate |
|
4.81 |
33.59 |
-0.81 |
8.82 |
|
Current Ratio |
|
.. |
162.14 |
146.17 |
134.02 |
|
N.Worth Ratio |
|
.. |
37.55 |
50.59 |
47.48 |
|
R.Profit/Sales |
|
10.19 |
10.15 |
5.54 |
0.94 |
|
N.Profit/Sales |
|
5.90 |
5.64 |
5.64 |
0.27 |
|
Return On Equity |
|
.. |
7.95 |
6.58 |
0.35 |
Notes: Forecast
figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.24 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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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 |
|
|
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 |
|
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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.