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Credit Rating Analysis: MIKUNI (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): MIKUNI (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. ¥ 81 B
-0.92%
¥ 2 B
3.90%
¥ 1 B
-12.10%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating BBBBBB
Total Assets
¥ 73 B
¥ 79 B
¥ 82 B
¥ 80 B
Net Assets
¥ 15 B
¥ 18 B
¥ 19 B
¥ 21 B

Financial Statement Risk Analysis: MIKUNI (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 (*Sales is decrease )
Sales (¥ 81 B) is first term Sales (¥ 82 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 (¥ 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 (1.72%) is first term Net Profit Margin (1.94%) less , there is a possibility that the profitability has deteriorated.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -5 B) & Financial Cash Flow (¥ -3 B) is a minus, Operating Cash Flow (¥ 7 B) is a plus,
Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 7 B) , Dividend (¥ -169 M) is paid.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -3 B) & Financial Cash Flow (¥ -2 B) is a minus, Operating Cash Flow (¥ 5 B) is a plus,
Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 5 B) , Dividend (¥ -169 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 3 B) is Sales first term ratio (¥ 2 B) 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 (¥ -2 B) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 4 B) is a plus,
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income & Sales is sharp decrease )
As compared with the first term of Sales (¥ 65 B) , Sales (¥ 87 B) is less than 80%, and As compared with the first term of Net Income (¥ -2 B) , Net Income (¥ -4 B) is less than 10%, , there is a possibility that the management situation has deteriorated very much.
Management Risk (*Sales is decrease )
Sales (¥ 65 B) is first term Sales (¥ 87 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ -4 B) is first term Net Income (¥ -2 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-7.11%) is first term Net Profit Margin (-2.82%) less , there is a possibility that the profitability has deteriorated.
Dividend Risk
Under the situation of Net Income (¥ -4 B) & Operating Cash Flow (¥ 2 B), Dividend (¥ -33 M) is paid.
Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -22 B) & Operating Cash Flow first term ratio (¥ -3 B) is a minus, Interest-bearing Debt (¥ 39 B) is first term Interest-bearing Debt (¥ 37 B) more , 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 (¥ -446 M) is Sales first term ratio (¥ -22 B) more , there is a possibility that the non-performing asset was increased.
Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -4 B) is a minus, the cashflow of Operating Cash Flow (¥ 2 B) is smaller than Investment Cash Flow (¥ -3 B) , there is a possibility of the overinvestment.
[Date: 2009-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income is minus or 0 )
Net Income (¥ -2 B) is minus or 0, so , there is a possibility that the management situation is severe.
Dividend Risk
Under the situation of Net Income (¥ -2 B) & Operating Cash Flow (¥ 5 B), Dividend (¥ -373 M) is paid.
Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -2 B) is a minus, the cashflow of Operating Cash Flow (¥ 5 B) is smaller than Investment Cash Flow (¥ -7 B) , there is a possibility of the overinvestment.

Ticker Market Industry Month report Rating
@ MIKUNI 7247 TSE 2st Transportation Equipments 3 Annual BB

Related Company

@ Namura Shipbuilding (Sales ¥ 118 B)
@ Privee Turnaround Group (Sales ¥ 7 B)
@ I Metal Technology (Sales ¥ 48 B)
@ NITTAN VALVE (Sales ¥ 35 B)
@ 田中精密工業 (Sales ¥ 47 B)
@ NIPPON SHARYO (Sales ¥ 83 B)
@ カネミツ (Sales ¥ 6 B)
@ Showa Aircraft Industry (Sales ¥ 22 B)
@ TBK (Sales ¥ 42 B)
@ GMB  (Sales ¥ 46 B)
@ MIKUNI (Sales ¥ 81 B)
@ カワムラサイクル (Sales ¥ 3 B)
@ CALSONIC KANSEI (Sales ¥ 760 B)
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