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Credit Rating Analysis: NIHON SEIKO (Annual )

The details of credit rating (bankruptcy risk) can be checked. A credit rating in nine stages (AAA-C).

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Credit Rating (Bankruptcy Risk): NIHON SEIKO (Annual ) Consolidated | Non-Consolidated

Date Credit Rating Comment Sales Current Profit Net Income
2013-03-31  BB  Credit is a little enough, but be insufficient potential by biz environs. ¥ 11 B
-10.55%
¥ 622 M
-34.45%
¥ 385 M
-39.46%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating BBBBBBBBBB
Total Assets
¥ 10 B
¥ 10 B
¥ 10 B
¥ 10 B
Net Assets
¥ 4 B
¥ 4 B
¥ 4 B
¥ 4 B

Financial Statement Risk Analysis: NIHON SEIKO (Annual ) (Consolidated )

[Date: 2013-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 11 B) is first term Sales (¥ 13 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 385 M) is first term Net Income (¥ 636 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (3.30%) is first term Net Profit Margin (4.87%) less , there is a possibility that the profitability has deteriorated.
Dividend
Under the situation of Net Income (¥ 385 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -122 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -542 M) is Sales first term ratio (¥ -1 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -193 M) and Investment Cash Flow (¥ -874 M) is minus, Net Income (¥ 636 M) is plus. Because it is unnatural that profits have come out in this situation, the possibility of holding the non-performing asset is very high.
Management Risk (*Net Income is decrease )
Net Income (¥ 636 M) is first term Net Income (¥ 685 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (4.87%) is first term Net Profit Margin (6.30%) less , there is a possibility that the profitability has deteriorated.
Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -193 M) is a minus, Financial Cash Flow (¥ 680 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.
Dividend Risk
Under the situation of Net Income (¥ 636 M) & Operating Cash Flow (¥ -193 M), Dividend (¥ -147 M) is paid.
Financing Risk (*Interest-bearing Debt more)
Operating Cash Flow (¥ -193 M) is a minus, Interest-bearing Debt (¥ 3 B) is first term Interest-bearing Debt (¥ 2 B) more , there is a possibility that the financing has deteriorated very much.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 13 B) is first term (¥ 10 B) more, however Operating Cash Flow (¥ -193 M) is first term (¥ 507 M) less , there is a possibility that the financing has deteriorated very much.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Dividend
Under the situation of Net Income (¥ 685 M) & Operating Cash Flow (¥ 507 M) , Dividend (¥ -73 M) is paid.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 10 B) is first term (¥ 7 B) more, however Operating Cash Flow (¥ 507 M) is first term (¥ 990 M) less , there is a possibility that the financing has deteriorated very much.
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income is minus or 0 )
Net Income (¥ -95 M) is minus or 0, so , there is a possibility that the management situation is severe.
Management Risk (*Gross Income is decrease )
Gross Income (¥ 6 B) is first term Gross Income (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -177 M) & Financial Cash Flow (¥ -529 M) is a minus, Operating Cash Flow (¥ 990 M) is a plus,
Dividend Risk
Under the situation of Net Income (¥ -95 M) & Operating Cash Flow (¥ 990 M), Dividend (¥ -25 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 524 M) is Sales first term ratio (¥ 126 M) more , there is a possibility that the non-performing asset was increased.
[Date: 2009-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -443 M) & Operating Cash Flow (¥ -79 M) is minus or 0, so , there is a possibility that the management situation is very severe.
Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -79 M) is a minus, Financial Cash Flow (¥ 1 B) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.
Dividend Risk
Under the situation of Net Income (¥ -443 M) & Operating Cash Flow (¥ -79 M), Dividend (¥ -90 M) is paid.
Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -79 M) and Investment Cash Flow (¥ -816 M) is minus, so , there is a possibility of the overinvestment.

Ticker Market Industry Month report Rating
@ NIHON SEIKO 5729 TSE 2st Metal Mining 3 Annual BB

Related Company

@ DOWA HOLDINGS (Sales ¥ 419 B)
@ NIHON SEIKO (Sales ¥ 11 B)
@ Sumitomo Metal Mining (Sales ¥ 808 B)
@ Mitsui Mining and Smelting (Sales ¥ 417 B)
@ 中外鉱業 (Sales ¥ 19 B)
@ JIPANGU (Sales ¥ 5 B)
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