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Credit Rating Analysis: AIREX. (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): AIREX. (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. ¥ 3 B
-2.07%
¥ 45 M
-86.56%
¥ -116 M
-146.77%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating BCCCBBB
Total Assets
¥ 1 B
¥ 1 B
¥ 1 B
¥ 1 B
Net Assets
¥ 846 M
¥ 481 M
¥ 462 M
¥ 501 M

Financial Statement Risk Analysis: AIREX. (Annual ) (Consolidated )

Special note
Net sales has dropped 5 consecutive terms. The business have high risk.
[Date: 2013-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income is minus or 0 )
Net Income (¥ -116 M) is minus or 0, so , there is a possibility that the management situation is severe.
Management Risk (*Sales is decrease )
Sales (¥ 3 B) is first term Sales (¥ 3 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ -116 M) is first term Net Income (¥ 248 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-3.33%) is first term Net Profit Margin (6.97%) less , there is a possibility that the profitability has deteriorated.
Non-performing asset Risk
Net Income (¥ -116 M) is a minus, Other Current Assets (¥ 819 M) - more than 50% of Total Assets (¥ 1 B) is occupied , there is a possibility of holding the non-performing asset.
Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -116 M) is a minus, the cashflow of Operating Cash Flow (¥ 117 M) is smaller than Investment Cash Flow (¥ -170 M) , there is a possibility of the overinvestment.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 3 B) is first term Sales (¥ 3 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Gross Income is decrease )
Gross Income (¥ 2 B) is first term Gross Income (¥ 2 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -3 M) & Financial Cash Flow (¥ -163 M) is a minus, Operating Cash Flow (¥ 21 M) is a plus,
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 179 M) is Sales first term ratio (¥ -85 M) more , there is a possibility that the non-performing asset was increased.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Stated Capital less
As compared with the first term of Stated Capital (¥ 1 B), Stated Capital (¥ 80 M) is less than 10%, , there is a possibility that the management situation is extremely severe.
Management Risk (*Sales is decrease )
Sales (¥ 3 B) is first term Sales (¥ 4 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 24 M) is first term Net Income (¥ 113 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.66%) is first term Net Profit Margin (2.79%) less , there is a possibility that the profitability has deteriorated.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -8 M) & Financial Cash Flow (¥ -263 M) is a minus, Operating Cash Flow (¥ 122 M) is a plus,
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -133 M) is Sales first term ratio (¥ -419 M) more , there is a possibility that the non-performing asset was increased.
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -1 B) is minus, so Cumulative loss , there is a possibility that the management situation is severe.
Management Risk (*Sales is decrease )
Sales (¥ 4 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 (¥ 113 M) is first term Net Income (¥ 1 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (2.79%) is first term Net Profit Margin (14.52%) less , there is a possibility that the profitability has deteriorated.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -460 M) is Sales first term ratio (¥ -3 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2009-03-31]  Danger : Warning : Caution : Good
Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -1 B) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Ticker Market Industry Month report Rating
@ AIREX. 6944 OSE JASDAQ Other Services 3 Annual CCC

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