Murakami Corporation
Company Profile
■URL
http://www.murakami-kaimeido.co.jp/english/index.html
■Address
Business Overview
-The Company is one of the largest manufacturers of automotive rear-view mirrors, with 40% of the market share in Japan. Non-affiliated.
-As of the fiscal year that ended Mar. 2020, sales for Toyota accounted for 34.1% of company-wide sales.
-Consisting of two business divisions: Mirror system business division and Opto-Electronics division. Capable of handling almost all processes of mirror system manufacturing in-house, from finishing mirror surfaces to electric systems.
Financial Highlights
-The Company’s financial results for the fiscal year that ended in March 2020 are as follows.
Consolidated sales: JPY 77,668 million (5.3% increase year-over-year)
Operating income: JPY 7,025 million (1.7% decrease year-over-year)
Ordinary income: JPY 7,639 million (0.6% decrease year-over-year)
Current net profit attributable to the parent-company’s shareholders: JPY 4,961 million (2.1% increase year-over-year)
Shareholders
| -Listed on the second section of the Tokyo Stock Exchange. | (As of Mar. 31, 2020) |
| Name or Company Name | Investment Ratio (%) |
| Houeisha | 14.56 |
| Individual Shareholder | 11.15 |
| BBH for Fidelity Low-priced Stock Fund | 6.35 |
| AGC Inc. | 5.78 |
| MUFG Bank, Ltd. | 4.89 |
| Shizuoka Nakajimaya Hotel Chain Co., Ltd. | 3.60 |
| Shizuoka Bank, Ltd. | 3.59 |
| The Bank of New York GCM Client Accounts JPRD ISG FE-AC | 3.21 |
| Tokyo Small and Medium Business Investment & Consultation CO., LTD. | 3.14 |
| Meiji Yasuda Life Insurance Company | 2.72 |
| Total | 59.04 |
Products
Mirror Systems
Hydrophilic clear mirrors (HCM)
Electro-chromic mirrors
Aspheric mirrors
Power folding units
Actuators
Blind Spot indicator Mirror(BSM)
Door mirrors with foot light
Auto retractable mirrors
Door mirrors with turn lamp
Door mirrors with side camera
Reverse-gear combination mirrors
Antidazzle wide inner mirrors with indicators
Actuator units for electric vehicle inlet
Courtesy Projection Lamp
Heated washer
Opt + Electronics
Concave mirrors
Aspheric (Spheric) mirrors
Components
Active spoiler controllers
Navigation stand
History
| Mar, 1948 | Established as Murakami Corporation, which succeeded "Kaimeido." Founded in 1882 as a manufacturer of mirrors and wholesaler of glass. |
| Sep, 1958 | Awarded a contract for rear-view mirrors from Toyota Motor Industries Co., Ltd. (currently, Toyota Motor Corporation) and started production. |
| Nov, 1967 | Established Fujieda plant in Fujieda City, Shizuoka Prefecture to expand rear-view mirror production. |
| Dec, 1967 | Awarded a contract for rear-view mirrors from Mitsubishi Heavy Industries Co., Ltd. (currently, Mitsubishi Motors Corporation). |
| Jan, 1975 | Established Shizuoka Auto Glass Co. jointly with Asahi Glass Corporation to separate the automotive glass sales division. |
| May, 1981 | Established Shizuoka Sun Mirror jointly with Asahi Glass Corporation and its exclusive distributor in Shizuoka City to separate the mirror and glass processing division from the Company. |
| Apr, 1983 | Established Kaitsu (Present name: Murakami Kaimeido Kasei) jointly with Tsutsunaka Plastic Industries Co., Ltd. and separated the chemical parts division. |
| Nov, 1991 | Listed in the Japan Securities Dealers Association (JSDA). |
| Mar, 1995 | Listed on the Second Section of the Tokyo Stock Exchange. |
| Oct, 1996 | Established Ooigawa plant in Fujieda City, Shizuoka Prefecture to enhance the capacity of rear-view mirror production. |
| Nov, 1997 | Established Murakami Ampas (Thailand) Co., Ltd. Jointly with Ampas Industry Co., Ltd. in Thailand. Started manufacturing of rear-view mirrors. |
| Dec, 1999 | Dissolved Shizuoka Sun Mirror. Consolidated its mirror and glass processing business with Murakami Kaimeido Techno. |
| June, 2000 | Established Murakami Manufacturing U.S.A. Inc. (a 100% subsidiary) in Kentucky as a site for the sales and production of rear-window mirrors. |
| July, 2001 | Established Murakami Manufacturing (Thailand) a 100% subsidiary, in Thailand as a site for the sales and production of rear-window mirrors. |
| Oct, 2001 | Established Murakami Manufacturing (Hong Kong) Co., Ltd. (a 100% subsidiary) to expand sales in field of opt-electronics in China. |
| Nov. 2002 | Established Jiaxing Murakami Ishizaki Corporation jointly with Ishizaki Honten Company, Limited as a manufacturing and sales base in China for rearview mirrors. |
| Mar. 2004 | Established Murakami Saikyu (Thailand) as a manufacturing and sales base for dies in Thailand, jointly with Saiku Seiki. |
| May, 2007 | Established Murakami Corporation Kyushu (a wholly owned subsidiary) in Asakura City, Fukuoka Prefecture, as a manufacturing and sales center for rear view mirrors. |
| Feb. 2008 | In China, Jiaxing Murakami Kaimeido Corporation acquired a license as a local production and sales base of back mirrors. |
| Feb. 2011 | Established Jiaxing OLSA Murakami Corporation, a production and sales company in China, through a joint investment with OLSA S.p.A. |
| Dec. 2011 | Constructed the Tsuiji Plant in Shizuoka, in order to augment its production framework for manufacturing rearview mirror systems. |
| Jul. 2012 | Merged and absorbed the operations of Jiaxing Murakami Kaimeido Corporation into Jiaxing Murakami Ishizaki Corporation, which became the surviving company. |
| Sep. 2012 | Changed the name of Jiaxing Murakami Ishizaki Corporation to Jiaxing Murakami Corp. |
| Nov. 2012 | Acquired 51% of the outstanding stock shares in PT Delloyd, a company in Indonesia manufacturing and selling rearview mirrors, turning it into a subsidiary. |
| Feb. 2013 | Changed the name of PT Delloyd to PT. Murakami Delloyd Indonesia. |
| Sep. 2013 | Established 100% subsidiary Murakami Corporation (Thailand) Ltd. for designing and preparing production of rear-view mirrors. |
| Feb. 2014 | Established 100% subsidiary Murakami Manufacturing Mexico, S.A. de C.V. for manufacturing and sales of rear-view mirrors. |
| Sep. 2016 | Invested 100% of the capital to establish Murakami Manufacturing India Private Ltd. in India. |
| Oct. 2016 | Established Foshan Murakami Corporation in Foshan, Guangdong, China. Foshan Murakami, which is a subsidiary of one of the Company’s subsidiaries, manufactures and sells automotive rearview mirrors. |
| Dec. 2017 | Established Murakami Germany GmbH for market research in Europe. |
| Jan. 2018 | Established Tianjin Murakami Corporation, which is a subsidiary of one of the Company’s subsidiaries, manufactures and sells automotive rearview mirrors. |
Supplemental Information 1
Technology Licensing-out Agreement |
(As of Mar. 31, 2020) |
| Name | Contract contents | Contract period |
| Ken Sean Factory Co., Ltd. (Taiwan) |
To supply design and manufacturing technology on automotive rear-view mirrors to automakers in Taiwan (except Ford Lio Ho Motor) including Japanese automakers | Feb. 1, 2020 - Jan. 31, 2021* |
| Ampas Industries Co., Ltd. (Thailand) |
To supply design and manufacturing technology on automotive rear-view mirrors | Feb. 1, 2020 - Jan. 31, 2021* |
| Delloyd Industries (M) Sdn. Bhd. (Malaysia) |
To supply design and manufacturing technology on automotive rear-view mirrors | Feb. 1, 2020 - Jan. 31, 2021* |
| Ficosa Do Brasil, Ltda. (Brazil) |
To supply design and manufacturing technology on automotive rear-view mirrors | From Sep. 1, 2004 to the completion of delivery of the products subject to the contract |
| Murakami Ampas (Thailand) Co., Ltd. | To supply design and manufacturing technology on automotive rear-view mirrors | Jul. 1, 2019 - Jun. 30, 2020* |
| Murakami Manufacturing U.S.A. Inc. | To supply design and manufacturing technology on automotive rear-view mirrors | Jan. 1, 2020 - Dec. 31, 2020* |
| Murakami Manufacturing (Thailand) Co., Ltd. | To supply design and manufacturing technology on automotive rear-view mirrors | Jun. 30, 2019- Jun. 29, 2020* |
| Jiaxing Murakami Corporation | To supply design and manufacturing technology on automotive rear-view mirrors | Aug. 1, 2019- Jul. 31, 2020* |
| Metagal Argentina S.A. (Argentina) |
To supply design and manufacturing technology on automotive rear-view mirrors | Jun. 1, 2020- May 31, 2021* |
| Alpha Toyo Limited (India) |
To supply design and manufacturing technology on automotive rear-view mirrors | Dec. 13, 2019- Dec. 12, 2020* |
| Metagal Industria e Comercio Ltda (Brazil) |
To supply design and manufacturing technology on automotive rear-view mirrors | Mar. 15, 2020- Mar. 14, 2021* |
| Murakami Manufacturing Mexico, S.A. de C.V. (Mexico) |
To supply design and manufacturing technology on automotive rear-view mirrors | Feb. 1, 2020- Jan. 31, 2021* |
| PT. Murakami Delloyd Indonesia (Indonesia) |
To supply design and manufacturing technology on automotive rear-view mirrors | Feb. 14, 2020- Feb. 13, 2021* |
* Contracts are renewed every year if both parties agree.
>>>FY ended Mar. 31, 2008 Business report
>>>FY ended Mar. 31, 2009 Business report
>>>FY ended Mar. 31, 2010 Business report
>>>FY ended Mar. 31, 2011 Business report
>>>FY ended Mar. 31, 2012 Business report
>>>FY ended Mar. 31, 2013 Business report
>>>FY ended Mar. 31, 2014 Business report
>>>FY ended Mar. 31, 2015 Business report
>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income etc.)
Note: A figure in brackets ( ) indicates a loss