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Credit Rating Analysis: 中央魚類 (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): 中央魚類 (Annual ) Consolidated | Non-Consolidated

Date Credit Rating Comment Sales Current Profit Net Income
2013-03-31  CC  Credit is very vulnerable. ¥ 164 B
-8.02%
¥ 1 B
106.97%
¥ 124 M
-56.49%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating BCCBBBBB
Total Assets
¥ 47 B
¥ 45 B
¥ 48 B
¥ 49 B
Net Assets
¥ 20 B
¥ 21 B
¥ 21 B
¥ 21 B

Financial Statement Risk Analysis: 中央魚類 (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
Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -14 B) & Operating Cash Flow (¥ -697 M) is a minus, Interest-bearing Debt (¥ 10 B) is first term Interest-bearing Debt (¥ 4 B) more , there is a possibility that the financing is very severe.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -697 M) and Investment Cash Flow (¥ -5 B) is minus, Net Income (¥ 124 M) is plus. Because it is unnatural that profits have come out in this situation, the possibility of holding the non-performing asset is very high.
Management Risk (*Sales is decrease )
Sales (¥ 164 B) is first term Sales (¥ 179 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 124 M) is first term Net Income (¥ 285 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.08%) is first term Net Profit Margin (0.16%) less , there is a possibility that the profitability has deteriorated.
Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -697 M) is a minus, Financial Cash Flow (¥ 5 B) 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 (¥ 124 M) & Operating Cash Flow (¥ -697 M), Dividend (¥ -266 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 828 M) is Sales first term ratio (¥ -14 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Dividend
Under the situation of Net Income (¥ 285 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -246 M) is paid.
[Date: 2011-03-31]  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 (¥ 169 B) is first term Sales (¥ 172 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 (¥ 499 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-0.72%) is first term Net Profit Margin (0.29%) less , there is a possibility that the profitability has deteriorated.
Dividend Risk
Under the situation of Net Income (¥ -1 B) & Operating Cash Flow (¥ 155 M), Dividend (¥ -246 M) is paid.
Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -2 B) & Operating Cash Flow first term ratio (¥ -3 B) is a minus, Interest-bearing Debt (¥ 6 B) is first term Interest-bearing Debt (¥ 4 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 (¥ 933 M) is Sales first term ratio (¥ -2 B) more , there is a possibility that the non-performing asset was increased.
Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -1 B) is a minus, the cashflow of Operating Cash Flow (¥ 155 M) is smaller than Investment Cash Flow (¥ -1 B) , there is a possibility of the overinvestment.
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 172 B) is first term Sales (¥ 195 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Gross Income is decrease )
Gross Income (¥ 163 B) is first term Gross Income (¥ 186 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -2 B) & Financial Cash Flow (¥ -2 B) is a minus, Operating Cash Flow (¥ 3 B) is a plus,
Dividend
Under the situation of Net Income (¥ 499 M) & Operating Cash Flow (¥ 3 B) , Dividend (¥ -246 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 (¥ -22 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 is minus or 0 )
Net Income (¥ -1 B) is minus or 0, so , there is a possibility that the management situation is severe.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -1 B) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 3 B) is a plus,
Dividend Risk
Under the situation of Net Income (¥ -1 B) & Operating Cash Flow (¥ 3 B), Dividend (¥ -250 M) is paid.

Ticker Market Industry Month report Rating
@ 中央魚類 8030 TSE 2st Wholesale Trade 3 Annual CC

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