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Credit Rating (Bankruptcy Risk): MATSUYAMAKANKO GOLF. (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: MATSUYAMAKANKO GOLF. (Annual ) (Non-Consolidated )

Special note

Net income is minus 4 consecutive terms. The business have very high risk.

Net Assets have dropped 4 consecutive terms. The fiscal base is getting worse.

Operating cash flow has dropped 4 consecutive terms. The business have very high risk.

[Date: 2012-12-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -21 M) & Operating Cash Flow (¥ -5 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Management Risk (*Net Income is decrease )
Net Income (¥ -21 M) is first term Net Income (¥ -15 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-9.46％) is first term Net Profit Margin (-7.25％) less , there is a possibility that the profitability has deteriorated.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -5 M) is a minus, Financial Cash Flow (¥ 15 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Financing Risk (*Interest-bearing Debt more)
Operating Cash Flow (¥ -5 M) is a minus, Interest-bearing Debt (¥ 32 M) is first term Interest-bearing Debt (¥ 8 M) more , there is a possibility that the financing has deteriorated very much.

Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 224 M) is first term (¥ 207 M) more, however Operating Cash Flow (¥ -5 M) is first term (¥ 6 M) less , there is a possibility that the financing has deteriorated very much.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -5 M) and Investment Cash Flow (¥ -9 M) is minus, so , there is a possibility of the overinvestment.

[Date: 2011-12-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -15 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 207 M) is first term Sales (¥ 220 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -15 M) is first term Net Income (¥ -5 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-7.25％) is first term Net Profit Margin (-2.64％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -10 M) & Financial Cash Flow (¥ -3 M) is a minus, Operating Cash Flow (¥ 6 M) is a plus,

Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -13 M) & Operating Cash Flow first term ratio (¥ -5 M) is a minus, Interest-bearing Debt (¥ 8 M) is first term Interest-bearing Debt (¥ 5 M) 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 (¥ 2 M) is Sales first term ratio (¥ -13 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -15 M) is a minus, the cashflow of Operating Cash Flow (¥ 6 M) is smaller than Investment Cash Flow (¥ -10 M) , there is a possibility of the overinvestment.

[Date: 2010-12-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -5 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 220 M) is first term Sales (¥ 222 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 145 M) is first term Gross Income (¥ 148 M) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -12 M) & Financial Cash Flow (¥ -5 M) is a minus, Operating Cash Flow (¥ 12 M) is a plus,

Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -2 M) & Operating Cash Flow first term ratio (¥ -21 M) is a minus, Interest-bearing Debt (¥ 5 M) is first term Interest-bearing Debt (-) 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 (¥ -21 K) is Sales first term ratio (¥ -2 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -5 M) is a minus, the cashflow of Operating Cash Flow (¥ 12 M) is smaller than Investment Cash Flow (¥ -12 M) , there is a possibility of the overinvestment.

[Date: 2009-12-31]  Danger : Warning : Caution : Good

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -14 M) is minus or 0, so , there is a possibility that the management situation is severe.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -19 M) & Financial Cash Flow (¥ -14 M) is a minus, Operating Cash Flow (¥ 33 M) is a plus,