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Credit Rating (Bankruptcy Risk): 富山ゴルフ (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: 富山ゴルフ (Annual ) (Non-Consolidated )

Special note

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

Current Profit is minus 4 consecutive terms. The business have very high risk.

The change of Operating cash flow is going too far. The management situation is unstable.

4 consecutive terms, Cumulative loss. The fiscal base is unstable.

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

[Date: 2013-01-31]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -802 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -41 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 383 M) is first term Sales (¥ 393 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 433 M) is first term Gross Income (¥ 460 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-10.86％) is first term Net Profit Margin (-10.66％) less , there is a possibility that the profitability has deteriorated.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 1 M) is Sales first term ratio (¥ -10 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -41 M) is a minus, the cashflow of Operating Cash Flow (¥ 8 M) is smaller than Investment Cash Flow (¥ -21 M) , there is a possibility of the overinvestment.

[Date: 2012-01-31]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -760 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -42 M) & Operating Cash Flow (¥ -17 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Management Risk (*Sales is decrease )
Sales (¥ 393 M) is first term Sales (¥ 424 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -42 M) is first term Net Income (¥ -36 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-10.66％) is first term Net Profit Margin (-8.68％) less , there is a possibility that the profitability has deteriorated.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 2 M) is Sales first term ratio (¥ -30 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -17 M) and Investment Cash Flow (¥ -24 M) is minus, so , there is a possibility of the overinvestment.

[Date: 2011-01-31]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -718 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -36 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 424 M) is first term Sales (¥ 469 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -36 M) is first term Net Income (¥ 12 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-8.68％) is first term Net Profit Margin (2.65％) less , there is a possibility that the profitability has deteriorated.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -717 K) is Sales first term ratio (¥ -45 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -36 M) is a minus, the cashflow of Operating Cash Flow (¥ 9 M) is smaller than Investment Cash Flow (¥ -33 M) , there is a possibility of the overinvestment.

[Date: 2010-01-31]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -681 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Current Profit & Operating Cash Flow is minus or 0 )
Current Profit(¥ -7 M) & Operating Cash Flow (¥ -31 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -31 M) and Investment Cash Flow (¥ -40 M) is minus, Net Income (¥ 12 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 (¥ -31 M) is a minus, Financial Cash Flow (¥ 7 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.