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Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MURAI CO LTD |
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Registered Office : |
2-27-4 Kita-Otsuka Toshimaku Tokyo
170-0004 |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
March 1951 |
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Com. Reg. No.: |
0133-01-013442 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufactures shoes, shoe last, shoe insole, foot bed insole, handbags, other leather products (--100%) |
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No of Employees : |
125 |
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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Maximum Credit Limit : |
Yen 80.0 Million |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
MURAI CO LTD
KK Murai
2-27-4 Kita-Otsuka
Toshimaku Tokyo 170-0004 Japan
Tel:
03-3918-0181
Fax: 03-3918-0191
URL: http://www.shoeshift.com
E-Mail address: info@shoeshift.com
ACTIVITIES: Mfg
of shoes, shoe last, shoe insole, handbags, bags, other
BRANCHES: Kobe
FACTORIES: Saitama
OFFICERS: TAKASHI
MURAI, PRES Mitsugu
Muta, dir
Shinji Kaneko, dir Makoto Murai,
dir
Yen Amount: In million Yen, unless otherwise stated
FINANCES FAIR A/SALES Yen 2,003 M
PAYMENTSNO
COMPLAINTS CAPITAL Yen 100 M
TREND UP WORTH Yen 1,205 M
STARTED 1951 EMPLOYES 125
COMMENT: MFR OF SHOES. FINANCIAL SITUATION
CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: ESTIMATED
AT YEN 80.0 MILLION, ON 30 DAYS NORMAL TERMS.
The subject company was established originally in 1931 by father of
Takashi Murai, on his account, and was incorporated in 1951. Takashi took the pres office in Jan
1999. This is a specialized mfr of
shoes, shoe last, shoe insole, foot bed insole, handbags, other leather
products. Goods are imported (35%), and
exported. Clients include shoe makers,
supermarkets, shoe shops, other, nationwide
Financials are disclosed only partially for the Mar/2014 fiscal term.
The sales volume for Mar/2014 fiscal term amounted to Yen 2,003 million,
a shade up from Yen 1,994 million in the previous term. The net profit was posted at Yen 50 million, compared
with Yen 93 million recurring profit and Yen 57 million net profit,
respectively, a year ago.
For the current term ending Mar 2015 the net profit is projected at Yen
60 million, on a 3% rise in turnover, to Yen 2,070 million.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 80.0 million, on 30 days normal terms.
Date Registered: Mar 1951
Regd No.:
0133-01-013442
(Tokyo-Toshimaku)
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 800,000
shares
Issued: 200,000
shares
Sum: Yen
100 million
Major shareholders
(%): Takashi Murai, Kazu,
Tokyo Small & Medium Business Investment & Promotion Assn, Employees’
S/Holding Assn (Breakdown not available)
No.
of shareholders: 18
Nothing
detrimental is known as to the commercial morality of executives.
Activities: Manufactures
shoes, shoe last, shoe insole, foot bed insole, handbags, other leather
products (--100%)
Imports
(35%)
Clients: Shoe makers, shoe
shops, wholesalers, other
Exports to overseas
No. of accounts:
300
Domestic areas of
activities: Nationwide
Suppliers: Domestic (65%),
overseas (35%)
Payment record: No Complaints
Location: Business area in
Tokyo. Office premises at the caption
address are owned and maintained satisfactory.
Bank References:
Shoko Chukin Bank
(Ueno)
MUFG (Ikebukuro)
Relations:
Satisfactory
(In Million Yen)
|
Terms Ending: |
31/03/2014 |
31/03/2013 |
31/03/2012 |
31/03/2011 |
|
|
Annual
Sales |
|
2,003 |
1,994 |
1,932 |
2,031 |
|
Recur.
Profit |
|
|
93 |
19 |
|
|
Net
Profit |
|
50 |
57 |
-11 |
16 |
|
Total
Assets |
|
|
1,711 |
1,729 |
1,759 |
|
Current
Assets |
|
|
865 |
874 |
|
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Current
Liabs |
|
|
336 |
406 |
|
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Net
Worth |
|
1,205 |
1,170 |
1,119 |
1,144 |
|
Capital,
Paid-Up |
|
|
100 |
100 |
100 |
|
Div.in
Million (¥) |
|
13 |
10 |
13 |
13 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
0.45 |
3.21 |
-4.87 |
-4.47 |
|
|
Current Ratio |
|
.. |
257.44 |
215.27 |
.. |
|
N.Worth Ratio |
.. |
68.38 |
64.72 |
65.04 |
|
|
R.Profit/Sales |
|
.. |
4.66 |
0.98 |
.. |
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N.Profit/Sales |
2.50 |
2.86 |
-0.57 |
0.79 |
|
|
Return On Equity |
.. |
4.87 |
-0.98 |
1.40 |
|
Notes: Resulted
figures for the Mar/2014 fiscal term, but financials are only partially
disclosed.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.26 |
|
|
1 |
Rs.97.51 |
|
Euro |
1 |
Rs.77.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
|
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 |
|
<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.