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Credit Rating (Bankruptcy Risk): Tsurumaru Shipping (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: Tsurumaru Shipping (Annual ) (Consolidated )

[Date: 2012-03-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income is decrease )
Net Income (¥ 57 M) is first term Net Income (¥ 508 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.24％) is first term Net Profit Margin (2.21％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -696 M) & Financial Cash Flow (¥ -524 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

Dividend
Under the situation of Net Income (¥ 57 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -20 M) is paid.

Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 24 B) is first term (¥ 23 B) more, however Operating Cash Flow (¥ 1 B) is first term (¥ 1 B) less , there is a possibility that the financing has deteriorated very much.

[Date: 2011-03-31]  Danger : Warning : Caution : Good

Dividend
Under the situation of Net Income (¥ 508 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -20 M) is paid.

[Date: 2010-03-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income & Sales is sharp decrease )
As compared with the first term of Sales (¥ 21 B) , Sales (¥ 28 B) is less than 80%, and As compared with the first term of Net Income (¥ 513 M) , Net Income (¥ -188 M) is less than 10%, , there is a possibility that the management situation has deteriorated very much.

Management Risk (*Sales is decrease )
Sales (¥ 21 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 (¥ -188 M) is first term Net Income (¥ 513 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-0.87％) is first term Net Profit Margin (1.83％) less , there is a possibility that the profitability has deteriorated.

Dividend Risk
Under the situation of Net Income (¥ -188 M) & Operating Cash Flow (¥ 751 M), Dividend (¥ -20 M) is paid.

Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -6 B) & Operating Cash Flow first term ratio (¥ -612 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 has deteriorated very much.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 211 M) is Sales first term ratio (¥ -6 B) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -188 M) is a minus, the cashflow of Operating Cash Flow (¥ 751 M) is smaller than Investment Cash Flow (¥ -3 B) , there is a possibility of the overinvestment.

[Date: 2009-03-31]  Danger : Warning : Caution : Good

Dividend
Under the situation of Net Income (¥ 513 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -24 M) is paid.

Credit Rating (Bankruptcy Risk): Tsurumaru Shipping (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: Tsurumaru Shipping (Annual ) (Non-Consolidated )

Special note

Net income has dropped 4 consecutive terms. The business have high risk.

Net Assets have increased 4consecutive terms. The fiscal base is getting better.

[Date: 2012-03-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income is decrease )
Net Income (¥ 94 M) is first term Net Income (¥ 173 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.87％) is first term Net Profit Margin (1.62％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ 94 M) & Operating Cash Flow (-) , Dividend (¥ -20 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 335 M) is Sales first term ratio (¥ 288 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2011-03-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income is decrease )
Net Income (¥ 173 M) is first term Net Income (¥ 218 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (1.62％) is first term Net Profit Margin (2.15％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ 173 M) & Operating Cash Flow (-) , Dividend (¥ -20 M) is paid.

[Date: 2010-03-31]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 10 B) is first term Sales (¥ 13 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 218 M) is first term Net Income (¥ 267 M) less , there is a possibility that the management situation has stagnated and deteriorated

Dividend
Under the situation of Net Income (¥ 218 M) & Operating Cash Flow (-) , Dividend (¥ -20 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -172 M) is Sales first term ratio (¥ -2 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 (¥ 267 M) & Operating Cash Flow (-) , Dividend (¥ -24 M) is paid.