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Credit Rating Analysis: EIWA (Annual )

The details of credit rating (bankruptcy risk) can be checked. A credit rating in nine stages (AAA-C).

【Analysis Menu】 @Outline @Statement @Rating @Indicator @Download

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Credit Rating (Bankruptcy Risk): EIWA (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. ¥ 26 B
-4.19%
¥ 569 M
-18.12%
¥ 312 M
-8.23%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating BBCCCCCBBB
Total Assets
¥ 15 B
¥ 17 B
¥ 16 B
¥ 16 B
Net Assets
¥ 6 B
¥ 6 B
¥ 6 B
¥ 6 B

Financial Statement Risk Analysis: EIWA (Annual ) (Consolidated )

Special note
Net Assets have increased 5consecutive terms. The fiscal base is getting better.
[Date: 2013-03-31]  Danger : Warning : Caution : Good
Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -1 B) & Operating Cash Flow (¥ -230 M) is a minus, Interest-bearing Debt (¥ 733 M) is first term Interest-bearing Debt (¥ 689 M) 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 (¥ -230 M) and Investment Cash Flow (¥ -104 M) is minus, Net Income (¥ 312 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 (¥ -230 M) is a minus, Other Current Assets (¥ 13 B) - more than 66% of Total Assets (¥ 17 B) is occupied , the possibility of holding the non-performing asset is very high.
Management Risk (*Sales is decrease )
Sales (¥ 26 B) is first term Sales (¥ 28 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 312 M) is first term Net Income (¥ 340 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (1.16%) is first term Net Profit Margin (1.21%) less , there is a possibility that the profitability has deteriorated.
Dividend Risk
Under the situation of Net Income (¥ 312 M) & Operating Cash Flow (¥ -230 M), Dividend (¥ -95 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -802 M) is Sales first term ratio (¥ -1 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -698 M) and Investment Cash Flow (¥ -27 M) is minus, Net Income (¥ 340 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 (¥ -698 M) is a minus, Other Current Assets (¥ 13 B) - more than 66% of Total Assets (¥ 18 B) is occupied , the possibility of holding the non-performing asset is very high.
Dividend Risk
Under the situation of Net Income (¥ 340 M) & Operating Cash Flow (¥ -698 M), Dividend (¥ -63 M) is paid.
Financing Risk (*Interest-bearing Debt more)
Operating Cash Flow (¥ -698 M) is a minus, Interest-bearing Debt (¥ 689 M) is first term Interest-bearing Debt (¥ 679 M) more , there is a possibility that the financing has deteriorated very much.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 28 B) is first term (¥ 25 B) more, however Operating Cash Flow (¥ -698 M) is first term (¥ -290 M) less , there is a possibility that the financing has deteriorated very much.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -290 M) is a minus, Other Current Assets (¥ 11 B) - more than 66% of Total Assets (¥ 17 B) is occupied , the possibility of holding the non-performing asset is very high.
Dividend Risk
Under the situation of Net Income (¥ 163 M) & Operating Cash Flow (¥ -290 M), Dividend (¥ -63 M) is paid.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 25 B) is first term (¥ 24 B) more, however Operating Cash Flow (¥ -290 M) is first term (¥ 1 B) less , there is a possibility that the financing has deteriorated very much.
Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -290 M) is minus, Investment Cash Flow (¥ 41 M) is plus. Because the main occupation was dull, stock property may have been sold off.
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 24 B) is first term Sales (¥ 28 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ 44 M) is first term Net Income (¥ 128 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.18%) is first term Net Profit Margin (0.45%) less , there is a possibility that the profitability has deteriorated.
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -86 M) & Financial Cash Flow (¥ -632 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,
Dividend
Under the situation of Net Income (¥ 44 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -82 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 (¥ -4 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2009-03-31]  Danger : Warning : Caution : Good
Dividend
Under the situation of Net Income (¥ 128 M) & Operating Cash Flow (¥ 401 M) , Dividend (¥ -89 M) is paid.

Ticker Market Industry Month report Rating
@ EIWA 9857 TSE 2st Wholesale Trade 3 Annual CCC

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@ タカチホ (Sales ¥ 12 B)
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@ Kozosushi So-Honbu (Sales ¥ 20 B)
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@ TOHOKU CHEMICAL (Sales ¥ 27 B)
@ TOKAN (Sales ¥ 150 B)
@ 大都魚類 (Sales ¥ 125 B)
@ サハダイヤモンド (Sales ¥ 2 B)
@ TOKOKOSEN (Sales ¥ 48 B)
@ Sokensha (Sales ¥ 4 B)
@ FONTZ Holdings (Sales ¥ 2 B)
@ EIWA (Sales ¥ 26 B)
@ バイテック (Sales ¥ 102 B)
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