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Credit Rating Analysis: Japan Wind Development (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): Japan Wind Development (Annual ) Consolidated | Non-Consolidated

Date Credit Rating Comment Sales Current Profit Net Income
2013-03-31  CC  Credit is very vulnerable. ¥ 6 B
4.96%
¥ -1 B
48.81%
¥ 3 B
170.14%

Financial Timeline

Date  2012-12-31 
(Third quarter )
 2013-03-31 
(Annual )
 2013-06-30 
(First quarter )
 2013-09-30 
(Second quarter )
Credit Rating CCCCCCC
Total Assets
¥ 67 B
¥ 60 B
¥ 59 B
¥ 57 B
Net Assets
¥ 10 B
¥ 12 B
¥ 11 B
¥ 11 B

Financial Statement Risk Analysis: Japan Wind Development (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 (*Issuance of new shares)
Financial Cash Flow (¥ -4 B) is a minus, Issuance of new shares (¥ 24 M) is plus. Because a possibility of having appropriated the capital-increase fund for repayment of borrowed money is high , there is a possibility that the financing is extremely severe.
Management Risk (*Current Profit is minus or 0 )
Current Profit (¥ -1 B) is minus or 0, so , there is a possibility that the management situation is severe.
Management Risk (*Gross Income is decrease )
Gross Income (¥ 5 B) is first term Gross Income (¥ 5 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Risk (*Issuance of new shares)
Investment Cash Flow (¥ 4 B) is a plus, Issuance of new shares (¥ 24 M) is plus. Because it is thought that the circulating fund is gained by sale and new issue of stocks of stock property , there is a possibility that the financing is severe.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 6 B) is first term (¥ 5 B) more, however Operating Cash Flow (¥ 897 M) is first term (¥ 1 B) less , 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 (¥ 1 B) is Sales first term ratio (¥ 297 M) more , there is a possibility that the non-performing asset was increased.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income is minus or 0 )
Net Income (¥ -5 B) is minus or 0, so , there is a possibility that the management situation is severe.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets (¥ 6 B) is Net Income (¥ -5 B) is a minus, Sales (¥ 5 B) more , there is a possibility of holding the non-performing asset.
Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -5 B) is a minus, the cashflow of Operating Cash Flow (¥ 1 B) is smaller than Investment Cash Flow (¥ -2 B) , there is a possibility of the overinvestment.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income is minus or 0 )
Net Income (¥ -5 B) is minus or 0, so , there is a possibility that the management situation is severe.
Management Risk (*Net Income is decrease )
Net Income (¥ -5 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 (-108.58%) is first term Net Profit Margin (-46.84%) less , there is a possibility that the profitability has deteriorated.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets (¥ 10 B) is Net Income (¥ -5 B) is a minus, Sales (¥ 5 B) more , there is a possibility of holding the non-performing asset.
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income & Sales is sharp decrease )
As compared with the first term of Sales (¥ 5 B) , Sales (¥ 6 B) is less than 80%, and As compared with the first term of Net Income (¥ 630 M) , Net Income (¥ -2 B) is less than 10%, , there is a possibility that the management situation has deteriorated very much.
Management Risk (*Sales is decrease )
Sales (¥ 5 B) is first term Sales (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Income is decrease )
Net Income (¥ -2 B) is first term Net Income (¥ 630 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-46.84%) is first term Net Profit Margin (9.19%) less , there is a possibility that the profitability has deteriorated.
Dividend Risk
Under the situation of Net Income (¥ -2 B) & Operating Cash Flow (¥ 1 B), Dividend (¥ -253 M) is paid.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 12 B) is Sales first term ratio (¥ -1 B) more , there is a possibility that the non-performing asset was increased.
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets (¥ 18 B) is Net Income (¥ -2 B) is a minus, Sales (¥ 5 B) more , there is a possibility of holding the non-performing asset.
Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -2 B) is a minus, the cashflow of Operating Cash Flow (¥ 1 B) is smaller than Investment Cash Flow (¥ -14 B) , there is a possibility of the overinvestment.
[Date: 2009-03-31]  Danger : Warning : Caution : Good
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -121 M) and Investment Cash Flow (¥ -2 B) is minus, Net Income (¥ 630 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.
Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -121 M) is a minus, Financial Cash Flow (¥ 3 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 (¥ 630 M) & Operating Cash Flow (¥ -121 M), Dividend (¥ -200 M) is paid.

Ticker Market Industry Month report Rating
@ Japan Wind Development 2766 TSE Mothers Wholesale Trade 3 Annual CC

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