Miroku
Basic Information
- Stock Code
- 7983
- Industry
- Other Products
- Category Detail
- Manufacturing Machinery & Electrical Equipment
- Prefecture
- Kochi Prefecture
- Establishment Year
- July 1946
- Listing Year
- October 1963
- Official Website
- https://www.miroku-jp.com/
- TSE Information
- TSE Information
- Yahoo! Finance
- Yahoo! Finance
- Other Companies
- Kikuchi Seisakusho, SCAT, Hosotani Fireworks, Kyowa Kogyosho, Kyoryu Airtech, Takeda Kikai, Ishikawa Seisakusho, TVE, Seiwa Denki, Nomura Industry, Orbis, Consec
Overview
Miroku is a long-established manufacturer of firearms and machine tools founded in 1946, supplying OEM products to the U.S. Browning company and recognized domestically and internationally as a leading company boasting high technological capabilities.
Current Situation
Miroku recorded consolidated sales of approximately 13.5 billion yen and operating profit of approximately 950 million yen in fiscal 2018, centering on hunting gun manufacturing while also handling automotive parts for luxury vehicles. In its core firearms business, it provides OEM supplies to U.S. Browning, with a high overseas export ratio, directing about 99% of total production to exports. It pursues multifaceted business development leveraging high-precision machining technology in machine tools and automotive parts manufacturing. Headquartered in Nankoku City, Kochi Prefecture, it inherits traditional techniques as descendants of Tosa Domain gunsmiths. In sustainability efforts, it focuses on reducing environmental impact and high-efficiency production. Medium- to long-term strategies emphasize high value-added products and overseas market expansion, with efficient management of multi-variety small-lot production. Notable recent developments include IT integration in business processes and strengthened export infrastructure.
Trivia
Interesting Facts
- Firearms manufacturing originates from the 1892 tradition of Tosa Domain gunsmiths
- Rare company with no experience manufacturing firearms for Self-Defense Forces or police
- De facto the only mass-produced shotgun manufacturer in Japan
- OEM manufactures Browning Citori shotguns
- Products used in first Asian silver medal win in competitive clay shooting
- Overwhelmingly export-dependent with more than 99% overseas exports
- Historically known as a veteran whaling gun manufacturer
- Diversified operations including parts for high-end fans
- U.S. President Obama used a Miroku-made gun for shooting
- Established joint venture Nissan Miroku with Nippon Oil & Fats
- Shifted production from side-by-side to over-under shotguns
- Parts manufacturing in collaboration with partner factories in Korea and Belgium
- Limited exports of double rifles to Europe
- Develops and manufactures wooden automotive interior parts beyond firearms
- Product brand name 'B.C Miroku' derived from founder's initials
Hidden Connections
- Miroku Kuraji inherits firearms technology as a descendant of Tosa Domain gunsmiths
- Strengthened ties with Nichiyu Group through transfer of sales rights to Nippon Yushi Kogyo
- Jointly develops overseas markets with Browning Arms via OEM
- Numerous related companies rooted in Kochi Prefecture's local industries
- Hunting rifle manufacturing technology applied to luxury automotive wooden interior parts
- Parts supply track record for firearm OEM with Korea's S&T Motiv
- Historically used 'B.C MY Luck' brand name in the U.S. market
- Collaborates with home appliance industry via Panasonic high-end fan parts supply
Future Outlook
Growth Drivers
- Expansion of firearms OEM supply in overseas markets
- Increased demand for automotive parts leveraging high-precision machining technology
- Differentiation through enhanced multi-variety small-lot production capabilities
- Productivity improvements and efficiency gains via IT adoption
- Promotion of shift to sustainable materials and technologies
- Accelerated global rollout of traditional domestic technologies
- Competitive edge enhancement through DX in business processes
- Strengthened adaptability to diversifying customer needs
- Development of technologies compliant with environmental regulations
Strategic Goals
- Maintain and expand overseas sales ratio above 95%
- Technological innovation and high value-addition in firearms manufacturing
- Establish leading position in automotive wooden parts market
- Achieve full digitalization of manufacturing processes
- Company-wide reinforcement of environmental impact reduction initiatives
- Secure next-generation engineers through talent development
- Develop diverse sales channels and build stable supply chains
- Sustainable growth based on coexistence with local communities
Business Segments
Firearms OEM Manufacturing
- Overview
- Provides high-quality products via OEM manufacturing for overseas brands.
- Competitiveness
- Outstanding firearms manufacturing technology and years of track record
- Customers
-
- Browning Arms
- Winchester
- North American Sporting Gun Dealers
- Products
-
- Over-Under Shotguns
- Bolt-Action Rifles
- Semi-Automatic Shotguns
Machine Tool Manufacturing
- Overview
- Manufactures and supplies industrial machine tools with high precision.
- Competitiveness
- High-precision machining technology and multi-variety capability
- Customers
-
- Various Manufacturing Companies
- Automotive Parts Manufacturers
- Aircraft Parts Manufacturers
- Products
-
- CNC Lathes
- Machining Centers
- Electrical Discharge Machines
Automotive Parts Supply
- Overview
- Manufactures and sells wooden parts for luxury vehicles.
- Competitiveness
- High-quality woodworking technology derived from firearms manufacturing
- Customers
-
- Toyota Motor
- Various Automakers
- Automotive Parts Trading Companies
- Products
-
- Wooden Steering Wheels
- Shift Knobs
- Other Wooden Interior Parts
High-Precision Parts Processing
- Overview
- Supplies parts leveraging precision machining technology.
- Competitiveness
- Advanced machining expertise and quality control
- Customers
-
- Electrical Equipment Manufacturers
- Home Appliance Manufacturers
- Precision Machinery Manufacturers
- Products
-
- Metal Machined Parts
- High-Precision Cut Parts
- Precision Assembly Parts
Whaling Guns and Special Firearms Manufacturing
- Overview
- Continues manufacturing historic whaling guns and special firearms.
- Competitiveness
- High-quality products utilizing traditional technology
- Customers
-
- Special Industrial Users
- Whaling Companies
- Products
-
- Whaling Guns
- Harpoon Guns
Competitive Advantage
Strengths
- Accumulation of long-term firearms manufacturing technology
- Strong OEM relationships with brands like Browning
- Diversified business via high-precision machining technology
- Robust overseas sales network with 99% export ratio
- Flexible response to small-lot multi-variety production
- Luxury car wooden parts manufacturing technology
- Solid financial foundation
- De facto leader in Japan's mass-produced shotgun market
- Factory operations rooted in Kochi Prefecture
- Business expansion through diverse related subsidiaries
Competitive Advantages
- Reliable product supply through long-term partnership with OEM client Browning
- Durable and low-recoil design from proprietary over-under shotgun structure
- Multifaceted technology utilization in firearms and machinery fields
- Strong export track record and brand recognition domestically and abroad
- Established system for multi-variety small-lot production tailored to customer needs
- High level of special parts manufacturing technology and quality control
- High-precision processing for luxury automotive wooden parts
- Inheritance of traditional technology backed by history
- Product lineup adaptable to multiple markets domestically and abroad
Threats
- Risk of market contraction due to stricter gun regulations
- Trade friction and tariff fluctuations in export destinations
- Domestic labor shortage from aging population
- Technological innovation and price competition from overseas rivals
- Potential shift from wooden parts to alternative materials
- Raw material price volatility risk
- Increased manufacturing costs from environmental regulations
- Impact of exchange rate fluctuations
- Supply chain instability from events like COVID-19
Innovations
2023: Promotion of IT Integration in Production Processes
- Overview
- Digitalizing manufacturing processes to enhance efficiency in multi-variety small-lot production.
- Impact
- 20% production efficiency improvement, contributing to shorter delivery times
2022: Development of High-Value Wooden Parts with New Materials
- Overview
- Strengthening R&D for luxury automotive wooden parts using new materials.
- Impact
- Product diversification to acquire new customer segments
2021: Advanced OEM Manufacturing Technology
- Overview
- Implemented improvements to new shotgun mechanisms for Browning.
- Impact
- Improved product reliability and reduced after-service burden
2020: Introduction of Low-Environmental-Impact Machining Technology
- Overview
- Introduced energy-saving CNC machines to address environmental conservation.
- Impact
- 15% reduction in CO2 emissions during manufacturing
Sustainability
- Improved energy efficiency in manufacturing processes
- Reduced emissions and improved waste recycling rate
- Active adoption of low-environmental-impact materials
- Active participation in local environmental protection activities
- Enhanced workplace safety and health
- Improved work environment through diverse talent utilization
- Building sustainable supply chains
- Community contributions through CSR activities