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MIRA INFORM REPORT
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Report No. : |
490563 |
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Report Date : |
09.02.2018 |
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) : |
31.03.2017 |
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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, other |
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No. of Employees : |
3,160 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
JAPAN - ECONOMIC
OVERVIEW
Over the past 70 years, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (slightly less than 1% of GDP) have helped Japan develop an advanced economy. Two notable characteristics of the post-World War II 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 have significantly eroded under the dual pressures of global competition and domestic demographic change.
Measured on a purchasing power parity basis that adjusts for price differences, Japan in 2016 stood as the fourth-largest economy in the world after first-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. For three postwar decades, overall real economic growth was impressive - a 10% average in the 1960s, 5% in the 1970s, and 4% in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the aftereffects of inefficient investment and the collapse of an asset price bubble in the late 1980s, which entailed considerable 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.
Japan enjoyed an uptick in growth in 2013 on the basis of Prime Minister Shinzo ABE’s “Three Arrows” economic revitalization agenda - dubbed “Abenomics” - of monetary easing, “flexible” fiscal policy, and structural reform. Led by the Bank of Japan’s aggressive monetary easing, Japan is making modest progress in ending deflation, but demographic decline – a low birthrate and an aging, shrinking population – poses a major long-term challenge for the economy. The government currently faces the quandary of balancing its efforts to stimulate growth and institute economic reforms with the necessity of addressing its sizable public debt, which stands at 235% of GDP. To help raise government revenue, Japan adopted legislation in 2012 to gradually raise the consumption tax rate. However, the first such increase, in April 2014, led to another recession, so Prime Minister ABE has twice postponed the next increase, now scheduled for October 2019. Structural reforms to unlock productivity are seen as central to strengthening the economy in the long-run.
Scarce in critical natural resources, Japan has long been dependent on imported energy and raw materials. After the complete shutdown of Japan’s nuclear reactors following the earthquake and tsunami disaster in 2011, Japan's industrial sector has become even more dependent than before on imported fossil fuels. However, ABE’s government is seeking to restart nuclear power plants that meet strict new safety standards and is emphasizing nuclear energy’s importance as a base-load electricity source. In August 2015, Japan successfully restarted one nuclear reactor at the Sendai Nuclear Power Plant in Kagoshima prefecture, and several other reactors around the country have since resumed operations; however, opposition from local governments has delayed several more restarts that remain pending. Reforms of the electricity and gas sectors, including full liberalization of Japan’s energy market in April 2016 and gas market in April 2017, constitute an important part of Prime Minister Abe’s economic program.
In October 2015, Japan and 11 trading partners reached agreement on the Trans-Pacific Partnership (TPP), a pact that had promised to open Japan's economy to increased foreign competition and create new export opportunities for Japanese businesses. Japan was the second country to ratify the TPP in December 2016; the United States signaled its withdrawal from the TPP on January 23, 2017, and as of April 2017 the agreement has not gone into effect.
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Source
: CIA |
Company
summery
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
given address is its Osaka Branch Office (textile machinery division)
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, other (Tot 19)
FACTORIES: Inuyama, Kaga, Ryuoh, Oita, Ise,
Gifu (Tot 6)
OVERSEAS: China, Hong Kong, Taiwan,
Korea, Thailand, Vietnam, Indonesia, India,
Bangladesh,
Pakistan, USA, Mexico, Brazil (--subsidiaries)
OFFICERS: DAISUKE MURATA, PRES Jun’ichi
Murata, ch
Yosuke Murata, v pres Yasuo
Uozumi, s/mgn dir
Toshihiko Ishiyama, mgn dir Masahiko Omachi, dir
Yen Amount: In million
Yen, unless otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 198.436 M
PAYMENTS REGULAR CAPITAL Yen 900 M
TREND STEADY WORTH Yen
168,453 M
STARTED 1938 EMPLOYES 3,160
COMMENT
MFR SPECIALIZING IN TEXTILE MACHINERY AND OTHER INDUSTRIAL MACHINERY. FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
HIGHLIGHTS
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 such as China, India,
other, with exports accounting for more than 70% of total sales. Clients include machinery mfrs, wholesalers,
other.
FINANCIAL
INFORMATION
The sales volume for Mar/2017 fiscal term amounted to Yen
198,436 million, a 7% up from Yen 185,501 million in the previous term. Exports were active and increased. The recurring profit was posted at Yen 26,641
million and the net profit at Yen 17,630 million, respectively, compared with
Yen 15,338 million recurring profit and Yen 9,836 million net profit,
respectively, a year ago.
For the current term ending Mar 2018 the recurring profit is
projected at Yen 27,000 million and the net profit at Yen 18,500 million,
respectively, on a 5% rise in turnover, to Yen 208,400 million.
The financial situation is considered FAIR and good for
ORDINARY business engagements.
REGISTRATION
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.
OPERATION
Activities:
Manufactures:
Textile Machinery (25%): spinning frames, auto winders, electric dobbins;
Communication Equipment (5%): digital multifunctional products, laser & thermal Fax machines;
Logistics & Automation Equipment Systems (29%): systems for medical supplies, apparel, beverages, foodstuffs, sporting, data management, others;
Machine Tools (21%): tuning machines, sheet metal fabricating machines, lathes;
Others (20%)
Export (80%).
Clients: [Mfrs, wholesalers] Toshiba Corp, Toyota
Tsusho Corp, Yamazen Corp, Butai Agri-Innovation, Marubeni Techmatecs, Toyo
Corp, Oki Electric Ind, Yamato Transport Co, Hitachi Zosen Corp, Micron Memory
Japan, Alfresa Corp, Mediceo Corp, Micron Semiconductor Asia Pte Ltd, other.
No. of
accounts: 1,000
Domestic
areas of activities: Nationwide
Suppliers:
[Mfrs, wholesalers] Fanuc Ltd, Konica Minolta Japan, Fuji Xerox, Tokai EC, SMC, Uster Technologies, Takebishi Corp, NEC
Fielding, Okura Yusoki Co, Nihon Package
Inc, 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
FINANCES
(In Million Yen)
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Terms Ending: |
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31/03/2018 |
31/03/2017 |
31/03/2016 |
31/03/2015 |
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Annual Sales |
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208,400 |
198,436 |
185,501 |
164,239 |
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Recur. Profit |
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27,000 |
26,641 |
15,338 |
14,227 |
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Net Profit |
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18,500 |
17,630 |
9,836 |
8,762 |
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Total Assets |
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285,833 |
269,413 |
269,466 |
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Net Worth |
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168,453 |
148,031 |
143,313 |
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Capital, Paid-Up |
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900 |
900 |
900 |
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Div.Ttl in Million (¥) |
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346 |
201 |
0.00 |
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<Analytical Data> |
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(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
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5.02 |
6.97 |
12.95 |
-7.70 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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58.93 |
54.95 |
53.18 |
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N.Profit/Sales |
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8.88 |
8.88 |
5.30 |
5.33 |
Notes:
Forecast figures for the 31/03/2018 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.16 |
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1 |
INR 89.19 |
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Euro |
1 |
INR 78.75 |
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YEN |
1 |
INR 0.59 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRA |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.