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Credit Rating (Bankruptcy Risk): Nichiden Kogyo (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: Nichiden Kogyo (Annual ) (Non-Consolidated )

Special note

Net sales has increased 4 consecutive terms. The performance is good.

The change of Net income is going too far. The management situation is unstable.

Cash(¥ 1 B) is more than the total liabilities(¥ 759 M). It is a very steady fiscal base!

[Date: 2012-11-30]  Danger : Warning : Caution : Good

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -138 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Net Income is decrease )
Net Income (¥ -138 M) is first term Net Income (¥ 2 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-5.01％) is first term Net Profit Margin (0.09％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -215 M) & Financial Cash Flow (¥ -23 M) is a minus, Operating Cash Flow (¥ 33 M) is a plus,

Dividend Risk
Under the situation of Net Income (¥ -138 M) & Operating Cash Flow (¥ 33 M), Dividend (¥ -14 M) is paid.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -138 M) is a minus, the cashflow of Operating Cash Flow (¥ 33 M) is smaller than Investment Cash Flow (¥ -215 M) , there is a possibility of the overinvestment.

[Date: 2011-11-30]  Danger : Warning : Caution : Good

Management Risk (*Net Income is decrease )
Net Income (¥ 2 M) is first term Net Income (¥ 36 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.09％) 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 (¥ -17 M) & Financial Cash Flow (¥ -21 M) is a minus, Operating Cash Flow (¥ 12 M) is a plus,

Dividend
Under the situation of Net Income (¥ 2 M) & Operating Cash Flow (¥ 12 M) , Dividend (¥ -14 M) is paid.

Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 2 B) is first term (¥ 2 B) more, however Operating Cash Flow (¥ 12 M) is first term (¥ 79 M) less , there is a possibility that the financing has deteriorated very much.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 146 M) is Sales first term ratio (¥ 117 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2010-11-30]  Danger : Warning : Caution : Good

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -503 M) & Financial Cash Flow (¥ -18 M) is a minus, Operating Cash Flow (¥ 79 M) is a plus,

Dividend
Under the situation of Net Income (¥ 36 M) & Operating Cash Flow (¥ 79 M) , Dividend (¥ -14 M) is paid.

Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 2 B) is first term (¥ 2 B) more, however Operating Cash Flow (¥ 79 M) is first term (¥ 124 M) less , there is a possibility that the financing has deteriorated very much.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 215 M) is Sales first term ratio (¥ 132 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2009-11-30]  Danger : Warning : Caution : Good

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -36 M) is minus or 0, so , there is a possibility that the management situation is severe.

Dividend Risk
Under the situation of Net Income (¥ -36 M) & Operating Cash Flow (¥ 124 M), Dividend (¥ -14 M) is paid.