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Credit Rating (Bankruptcy Risk): HIKARI BUSINESS FORM (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: HIKARI BUSINESS FORM (Annual ) (Non-Consolidated )

Special note

Net sales has dropped 4 consecutive terms. The business have high risk.

[Date: 2012-12-31]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 6 B) is first term Sales (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 5 B) is first term Gross Income (¥ 5 B) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -69 M) & Financial Cash Flow (¥ -511 M) is a minus, Operating Cash Flow (¥ 667 M) is a plus,

Dividend
Under the situation of Net Income (¥ 139 M) & Operating Cash Flow (¥ 667 M) , Dividend (¥ -86 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 68 M) is Sales first term ratio (¥ -224 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2011-12-31]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 6 B) is first term Sales (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 56 M) is first term Net Income (¥ 100 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.83％) is first term Net Profit Margin (1.47％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -61 M) & Financial Cash Flow (¥ -513 M) is a minus, Operating Cash Flow (¥ 546 M) is a plus,

Dividend
Under the situation of Net Income (¥ 56 M) & Operating Cash Flow (¥ 546 M) , Dividend (¥ -86 M) is paid.

[Date: 2010-12-31]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 6 B) is first term Sales (¥ 7 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 100 M) is first term Net Income (¥ 354 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (1.47％) is first term Net Profit Margin (5.06％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -58 M) & Financial Cash Flow (¥ -332 M) is a minus, Operating Cash Flow (¥ 432 M) is a plus,

Dividend
Under the situation of Net Income (¥ 100 M) & Operating Cash Flow (¥ 432 M) , Dividend (¥ -173 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -63 M) is Sales first term ratio (¥ -167 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2009-12-31]  Danger : Warning : Caution : Good

Dividend
Under the situation of Net Income (¥ 354 M) & Operating Cash Flow (¥ 406 M) , Dividend (¥ -278 M) is paid.