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Credit Rating Analysis: CHUO BUSSAN (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): CHUO BUSSAN (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. ¥ 132 B
2.23%
¥ 1 B
-7.21%
¥ 916 M
5.89%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating CCBBCCBBB
Total Assets
¥ 48 B
¥ 43 B
¥ 45 B
¥ 40 B
Net Assets
¥ 15 B
¥ 15 B
¥ 15 B
¥ 15 B

Financial Statement Risk Analysis: CHUO BUSSAN (Annual ) (Consolidated )

Special note
The change of Operating cash flow is going too far. The management situation is unstable.
Net Assets have increased 5consecutive terms. The fiscal base is getting better.
[Date: 2013-03-31]  Danger : Warning : Caution : Good
Dividend
Under the situation of Net Income (¥ 916 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -131 M) is paid.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 129 B) is first term Sales (¥ 130 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Gross Income is decrease )
Gross Income (¥ 110 B) is first term Gross Income (¥ 111 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -307 M) & Financial Cash Flow (¥ -841 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,
Dividend
Under the situation of Net Income (¥ 865 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -87 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 532 M) is Sales first term ratio (¥ -1 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -1 B) & Operating Cash Flow (¥ -508 M) is a minus, Interest-bearing Debt (¥ 11 B) is first term Interest-bearing Debt (¥ 10 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 (¥ -508 M) and Investment Cash Flow (¥ -141 M) is minus, Net Income (¥ 673 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.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -508 M) is a minus, Other Current Assets (¥ 28 B) - more than 66% of Total Assets (¥ 42 B) is occupied , the possibility of holding the non-performing asset is very high.
Management Risk (*Sales is decrease )
Sales (¥ 130 B) is first term Sales (¥ 131 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Gross Income is decrease )
Gross Income (¥ 111 B) is first term Gross Income (¥ 113 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -508 M) is a minus, Financial Cash Flow (¥ 694 M) 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 (¥ 673 M) & Operating Cash Flow (¥ -508 M), Dividend (¥ -87 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 2 B) is Sales first term ratio (¥ -1 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 (¥ 131 B) is first term Sales (¥ 132 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 355 M) is first term Net Income (¥ 543 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.27%) is first term Net Profit Margin (0.41%) less , there is a possibility that the profitability has deteriorated.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -383 M) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 1 B) is a plus,
Dividend
Under the situation of Net Income (¥ 355 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -89 M) is paid.
[Date: 2009-03-31]  Danger : Warning : Caution : Good
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -5 B) and Investment Cash Flow (¥ -1 B) is minus, Net Income (¥ 543 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.
Dividend Risk
Under the situation of Net Income (¥ 543 M) & Operating Cash Flow (¥ -5 B), Dividend (¥ -1 B) is paid.
Non-performing asset Risk
Operating Cash Flow (¥ -5 B) is a minus, Other Current Assets (¥ 26 B) - more than 50% of Total Assets (¥ 41 B) is occupied , there is a possibility of holding the non-performing asset.

Ticker Market Industry Month report Rating
@ CHUO BUSSAN 9852 OSE JASDAQ Wholesale Trade 3 Annual BB

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