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Credit Rating Analysis: SANSHIN ELECTRONICS (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): SANSHIN ELECTRONICS (Annual ) Consolidated | Non-Consolidated

Date Credit Rating Comment Sales Current Profit Net Income
2013-03-31  B  Credit is not enough, easily undermined by biz environs. ¥ 147 B
2.63%
¥ 1 B
103.11%
¥ 1 B
119.18%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating BBBBBBBBB
Total Assets
¥ 87 B
¥ 82 B
¥ 85 B
¥ 98 B
Net Assets
¥ 59 B
¥ 59 B
¥ 60 B
¥ 60 B

Financial Statement Risk Analysis: SANSHIN ELECTRONICS (Annual ) (Consolidated )

[Date: 2013-03-31]  Danger : Warning : Caution : Good
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -3 B) is a minus, Other Current Assets (¥ 65 B) - more than 66% of Total Assets (¥ 82 B) is occupied , the possibility of holding the non-performing asset is very high.
Dividend Risk
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ -3 B), Dividend (¥ -585 M) is paid.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 147 B) is first term (¥ 144 B) more, however Operating Cash Flow (¥ -3 B) is first term (¥ 14 B) less , there is a possibility that the financing has deteriorated very much.
Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -3 B) is minus, Investment Cash Flow (¥ 758 M) is plus. Because the main occupation was dull, stock property may have been sold off.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 7 B) is Sales first term ratio (¥ 3 B) 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 (¥ 144 B) is first term Sales (¥ 182 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 516 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 (0.36%) is first term Net Profit Margin (0.79%) less , there is a possibility that the profitability has deteriorated.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -826 M) & Financial Cash Flow (¥ -5 B) is a minus, Operating Cash Flow (¥ 14 B) is a plus,
Dividend
Under the situation of Net Income (¥ 516 M) & Operating Cash Flow (¥ 14 B) , Dividend (¥ -605 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -21 B) is Sales first term ratio (¥ -38 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -12 B) is a minus, Other Current Assets (¥ 79 B) - more than 66% of Total Assets (¥ 92 B) is occupied , the possibility of holding the non-performing asset is very high.
Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -12 B) is a minus, Financial Cash Flow (¥ 4 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 (¥ 1 B) & Operating Cash Flow (¥ -12 B), Dividend (¥ -605 M) is paid.
Financing Risk (*Interest-bearing Debt more)
Operating Cash Flow (¥ -12 B) is a minus, Interest-bearing Debt (¥ 7 B) is first term Interest-bearing Debt (¥ 2 B) more , there is a possibility that the financing has deteriorated very much.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 182 B) is first term (¥ 178 B) more, however Operating Cash Flow (¥ -12 B) is first term (¥ 7 B) less , there is a possibility that the financing has deteriorated very much.
Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -12 B) is minus, Investment Cash Flow (¥ 63 M) is plus. Because the main occupation was dull, stock property may have been sold off.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 15 B) is Sales first term ratio (¥ 4 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 178 B) is first term Sales (¥ 229 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 (¥ 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 (0.75%) is first term Net Profit Margin (0.96%) less , there is a possibility that the profitability has deteriorated.
Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 7 B) , Dividend (¥ -908 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -1 B) is Sales first term ratio (¥ -51 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2009-03-31]  Danger : Warning : Caution : Good
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -240 M) & Financial Cash Flow (¥ -8 B) is a minus, Operating Cash Flow (¥ 12 B) is a plus,
Dividend
Under the situation of Net Income (¥ 2 B) & Operating Cash Flow (¥ 12 B) , Dividend (¥ -1 B) is paid.

Ticker Market Industry Month report Rating
@ SANSHIN ELECTRONICS 8150 TSE 1st Wholesale Trade 3 Annual B

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