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Credit Rating Analysis: Showa Manufacturing (Annual )

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

【Analysis Menu】 @Outline @Statement @Rating @Indicator @Download

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Credit Rating (Bankruptcy Risk): Showa Manufacturing (Annual ) Consolidated | Non-Consolidated

Date Credit Rating Comment Sales Current Profit Net Income
2013-03-31  CCC  Credit is fragile, and depended on biz environs. ¥ 10 B
-8.62%
¥ -49 M
-313.04%
¥ 49 M
-32.87%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating CCCCCCCCB
Total Assets
¥ 13 B
¥ 13 B
¥ 14 B
¥ 14 B
Net Assets
¥ 2 B
¥ 3 B
¥ 3 B
¥ 3 B

Financial Statement Risk Analysis: Showa Manufacturing (Annual ) (Consolidated )

Special note
The change of Net income is going too far. The management situation is unstable.
[Date: 2013-03-31]  Danger : Warning : Caution : Good
Management Risk (*Current Profit is minus or 0 )
Current Profit (¥ -49 M) is minus or 0, so , there is a possibility that the management situation is severe.
Management Risk (*Sales is decrease )
Sales (¥ 10 B) is first term Sales (¥ 11 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 49 M) is first term Net Income (¥ 73 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.48%) is first term Net Profit Margin (0.66%) less , there is a possibility that the profitability has deteriorated.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -375 M) & Financial Cash Flow (¥ -208 M) is a minus, Operating Cash Flow (¥ 352 M) is a plus,
Dividend
Under the situation of Net Income (¥ 49 M) & Operating Cash Flow (¥ 352 M) , Dividend (¥ -25 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -554 M) is Sales first term ratio (¥ -956 M) more , there is a possibility that the non-performing asset was increased.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 11 B) is first term Sales (¥ 11 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Gross Income is decrease )
Gross Income (¥ 8 B) is first term Gross Income (¥ 9 B) less , there is a possibility that the management situation has stagnated and deteriorated
Dividend
Under the situation of Net Income (¥ 73 M) & Operating Cash Flow (¥ 160 M) , Dividend (¥ -16 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 206 M) is Sales first term ratio (¥ -753 M) more , there is a possibility that the non-performing asset was increased.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -100 M) & Financial Cash Flow (¥ -483 M) is a minus, Operating Cash Flow (¥ 990 M) is a plus,
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income is minus or 0 )
Net Income (¥ -1 B) is minus or 0, so , there is a possibility that the management situation is severe.
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 (¥ -1 B) is first term Net Income (¥ -126 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-14.72%) is first term Net Profit Margin (-0.91%) less , there is a possibility that the profitability has deteriorated.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -121 M) & Financial Cash Flow (¥ -50 M) is a minus, Operating Cash Flow (¥ 339 M) is a plus,
Dividend Risk
Under the situation of Net Income (¥ -1 B) & Operating Cash Flow (¥ 339 M), Dividend (¥ -17 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -582 M) is Sales first term ratio (¥ -2 B) 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(¥ -126 M) & Operating Cash Flow (¥ -57 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 (¥ -57 M) is a minus, Financial Cash Flow (¥ 345 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 (¥ -126 M) & Operating Cash Flow (¥ -57 M), Dividend (¥ -26 M) is paid.
Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -57 M) and Investment Cash Flow (¥ -281 M) is minus, so , there is a possibility of the overinvestment.

Ticker Market Industry Month report Rating
@ Showa Manufacturing 5953 FSE Machinery 3 Annual CCC

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