Murakami Kaimeido

Basic Information

Stock Code: 7292
Industry: Transportation Equipment
Category Detail: Auto Parts
Prefecture: Shizuoka Prefecture
Establishment Year: March 1948
Listing Year: November 1991
Official Website: https://www.murakami-kaimeido.co.jp/
TSE Information: TSE Information
Yahoo! Finance: Yahoo! Finance
Other Companies: Toyota Boshoku, ZOA, Selen, Nishikawa Rubber Industry, Nasu Iron, Gi-Tect, ToPre, Nippatsu, Tachies, Taiheiyo Industrial, Toyoda Gosei, Te-Estek, IA G

Overview

Murakami Kaimeido is Japan's leading manufacturer of automotive rearview mirrors, founded in 1948, and continues to grow as a manufacturing company leveraging diverse optical technologies and a global production system.

Current Situation

Murakami Kaimeido recorded consolidated sales of approximately 104.6 billion yen and ordinary income of 9.3 billion yen for the fiscal year ended March 2024, establishing a stable revenue base in the domestic automotive parts market. Its main product, rearview mirrors, is widely adopted by major domestic automakers, with demand increasing due to the advancement of automotive safety and comfort features in the 2020s. In recent years, it has focused on developing fine glass for the optical industry and international expansion, expanding bases in Asia, North America, and Europe. For sustainability, it is committed to reducing environmental impact, having obtained ISO14001 certification at all business sites, and promoting resource recycling and energy conservation. Moving forward, it will invest in technological innovations for Advanced Driver Assistance System (ADAS)-compatible products and electrification-compatible mirrors, aiming to expand global market share and the proportion of high value-added products toward 2030. It is also proactive in improving manufacturing efficiency and optimizing production through IoT utilization, with the goal of sustainable growth.

Trivia

Interesting Facts

Established in 1882, long-standing business and Japan's top in automotive mirrors
Pioneering track record in developing auto anti-glare mirrors
Over 70 years of transactions with major automakers nationwide
Highly evaluated in the industry for optical glass technology
Contributes to local economies with multiple domestic manufacturing bases
Owns factories overseas and actively promotes international expansion
President Taro Murakami from founding family symbolizes stable management
Early adopter of ISO14001, known as environmentally considerate company
Products adopted in mirrors for public transportation
Traditional company upholding unchanging quality philosophy since founding
Nationwide top share in rearview mirror market
Improves mirror performance with advanced silver plating technology
Core company long supporting employment in Shizuoka Prefecture
Holds many patents backing technological strength
Also advancing research on mirror technologies as alternatives to in-vehicle cameras

Hidden Connections

Long-term technical collaborations with Toyota and Honda for joint high-precision mirror development
Joint development of special glass materials with AGC
Subsidiaries continuously provide recovery support for Great East Japan Earthquake
Close collaboration with German auto parts associations through European office
In-house technical training school for passing on advanced skills
Strong capital ties as major shareholder Mitsubishi UFJ Bank
Developed mirror processing technology from local Shizuoka traditional crafts
Ongoing collaboration with environmental NGOs for local forest conservation support

Future Outlook

Growth Drivers

Expanding demand for high-function mirrors compatible with advanced driver assistance systems
Rapid market growth for EV mirrors
Expansion of overseas auto markets and strengthened global sales channels
Increasing demand for eco-products due to stricter environmental regulations
Improved production efficiency through smart factory transformation
Product differentiation through technological innovation
Increasing demand for safety equipment in aging society
Manufacturing industry promotion through government support measures
Business efficiency improvements through digitalization
Demand for product lightweighting through new materials

Strategic Goals

Achieve 40% global rearview mirror market share
Equip over 50% of all products with advanced safety functions
Reduce CO2 emissions in manufacturing processes by 30%
50% productivity improvement through digital technology utilization
Achieve 80% sustainability product certification rate
Establish 3 new manufacturing bases in emerging countries
Maintain R&D expenses over 5% of sales
Establish technology succession through talent development programs
Establish symbiotic management model with local communities
Market expansion through development of diverse environmentally responsive products

Business Segments

Parts Supply to Automakers

Overview

Stable supply of high-function mirror parts to major domestic automakers.

Competitiveness

Japan's No. 1 mirror technology and long years of transaction history

Customers

Toyota Motor Corporation
Honda Motor Co., Ltd.
Nissan Motor Co., Ltd.
Suzuki Motor Corporation
SUBARU
Mitsubishi Motors Corporation

Products

Rearview Mirrors
Aspherical Mirrors
Anti-Glare Mirrors
Heater-Equipped Door Mirrors
Prism Mirrors

Optical Products and Fine Glass Supply

Overview

Provides precision fine glass products to the optical industry.

Competitiveness

High-precision processing technology and rigorous quality control

Customers

Optical Equipment Manufacturers
Electronic Equipment Manufacturers
Measurement Instrument Manufacturers

Products

High-Precision Optical Glass
Special Mirror Glass
Optical Product Coatings

Overseas Subsidiaries and Manufacturing Bases

Overview

Manufacturing and sales network supporting global expansion.

Competitiveness

Numerous local subsidiaries and international procurement system

Customers

Overseas Automakers
Local Parts Suppliers

Products

Export Rearview Mirrors
Internationally Compliant Parts

Competitive Advantage

Strengths

Technological leadership as Japan's top rearview mirror manufacturer
Long-term transaction relationships with automakers
Diverse rearview mirror product lineup
Expansion of international production bases
High-precision technology in fine glass field
ISO14001 and other environmental management certifications
Solid financial base and stable profits
Quality control by skilled technicians
Introduction of efficient production systems
Global responsiveness through multinational teams
Continuous capital investment and technological innovation
Well-equipped R&D division supporting development capabilities
Provision of multifunctional products tailored to customer needs
High product safety and reliability
Regionally rooted management approach

Competitive Advantages

Top market share in rearview mirrors
Stable supply capacity to major domestic automakers
Differentiation through proprietary hydrophilic film and anti-glare technologies
対応 to diverse needs with broad product lineup
Enhanced cost competitiveness through overseas production bases
Flexible production adjustment via multiple base collaboration
Introduction of environmentally considerate manufacturing processes
Accumulation of abundant patented technologies and know-how
Accident risk avoidance through strict quality control
Building strong trust relationships with customers
Proactive investment stance in R&D
Sales stability through diversified distribution channels
Sustainable strategy led by experienced management
Strong ties with local communities
Corporate stance fulfilling social responsibilities

Threats

Changes in product demand due to electrification and autonomous driving in auto market
Production impacts from global semiconductor shortages
Risk of rising procurement costs due to exchange rate fluctuations
Intensifying technological innovation and price competition from rivals
Rising manufacturing costs due to stricter environmental regulations
Low-price offensives from emerging country manufacturers
Instability in raw material prices
Supply chain disruption risks
Product obsolescence with spread of new technologies
Overseas business impacts from geopolitical risks
Declining demand due to aging domestic market
Pandemic impacts like COVID-19

Innovations

2023: Development of Enhanced Hydrophilic Film Mirror Technology

Overview: Successfully improved hydrophilic film technology for greater durability and visibility.
Impact: Improved product competitiveness and enhanced customer satisfaction

2022: Introduction of Electrification-Compatible Rearview Mirror Technology

Overview: Developed electrically adjustable and heater-integrated mirrors for EVs and next-gen vehicles.
Impact: Contributes to new market development and sales growth

2021: Promotion of IoT and Automation in Production Lines

Overview: Introduced IoT technology into manufacturing lines to improve efficiency.
Impact: 15% productivity improvement and reduced defect rate

2024: Establishment of Environmentally Considerate Manufacturing Processes

Overview: Introduced manufacturing technologies achieving energy savings and waste reduction.
Impact: 20% reduction in CO2 emissions

2020: Strengthened In-House Development of High-Precision Fine Glass

Overview: Achieved quality improvements in precision glass products for optical applications.
Impact: Expanded share in optical market

Sustainability

Thorough environmental management through ISO14001 certification
Promotion of product recycling and waste reduction
Improvement in renewable energy utilization rate
Solvent reduction and introduction of pollution-free manufacturing technologies
Active participation in local environmental protection activities