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Report No. : |
326691 |
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Report Date : |
10.06.2015 |
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 : |
Manufacturer of textile machinery, communication equipment, machine
tools, other |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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. Since the complete shutdown of Japan’s nuclear reactors after the earthquake and tsunami disaster in 2011, Japan's industrial sector has become 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 four 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. A sales tax increase caused the economy to contract during the 2nd and 3rd quarters of 2014. The economy has largely recovered in the three years since the disaster, but reconstruction in the Tohoku region has been uneven due to labor shortages. 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 2014 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 government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which amounts to more than 240% 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 2015, although the government in 2014 decided to postpone the final phase of the increase until 2017 to give the economy time to recover from the 2014 increase. 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.
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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 Branch Office (Machine Tools Division, as given)
URL: http://www.muratec.net.jp/
E-Mail address: (thru the URL)
ACTIVITIES: Mfg of textile machinery, communication
equipment, machine tools, other
BRANCHES: Tokyo, Osaka, Nagoya, Yokohama, Fukuoka
FACTORIES: Inuyama, Kaga, Ryuoh, Oita, Ise, Gifu
OVERSEAS: China (6), Hong Kong, Korea (2), Thailand,
Vietnam, Indonesia, India (3),
Bangladesh, Pakistan, Europe/Mid East (4), N/S Americas (2)
(--subsidiaries)
OFFICERS: 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
PAYMENTS REGULAR CAPITAL Yen 900 M
TREND STEADY WORTH Yen 126,291 M
STARTED 1938 EMPLOYES 3,000
COMMENT: 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 term that ended Mar 2015 the recurring profit was 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.
Final results are yet to be released.
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: 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)
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Terms Ending: |
31/03/2015 |
31/03/2014 |
31/03/2013 |
31/03/2012 |
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Annual Sales |
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186,500 |
177,945 |
133,205 |
134,291 |
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Recur. Profit |
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19,000 |
18,066 |
7,382 |
1,256 |
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Net Profit |
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11,000 |
10,042 |
7,513 |
359 |
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Total Assets |
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336,314 |
225,611 |
218,229 |
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Current Assets |
|
|
164,317 |
162,953 |
153,599 |
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Current Liabs |
|
|
101,342 |
111,482 |
114,612 |
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Net Worth |
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126,291 |
114,129 |
103,617 |
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Capital, Paid-Up |
|
|
900 |
900 |
900 |
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Div.P.Share(¥) |
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|
0.00 |
10.00 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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4.81 |
33.59 |
-0.81 |
8.82 |
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Current Ratio |
|
.. |
162.14 |
146.17 |
134.02 |
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N.Worth Ratio |
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.. |
37.55 |
50.59 |
47.48 |
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R.Profit/Sales |
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10.19 |
10.15 |
5.54 |
0.94 |
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N.Profit/Sales |
|
5.90 |
5.64 |
5.64 |
0.27 |
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Return On Equity |
|
.. |
7.95 |
6.58 |
0.35 |
Notes: Forecast figures for the 31/03/2015 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.63.94 |
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|
1 |
Rs.98.27 |
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Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
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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.