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Credit Rating (Bankruptcy Risk): 備後観光開発 (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: 備後観光開発 (Annual ) (Non-Consolidated )

Special note

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

The change of Net income is going too far. The management situation is unstable.

Cash(¥ 43 M) is more than the total liabilities(¥ 34 M). It is a very steady fiscal base!

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

Management Risk (*Sales is decrease )
Sales (¥ 241 M) is first term Sales (¥ 253 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 136 M) is first term Gross Income (¥ 167 M) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -4 M) & Financial Cash Flow (¥ -5 M) is a minus, Operating Cash Flow (¥ 16 M) is a plus,

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 745 K) is Sales first term ratio (¥ -11 M) more , there is a possibility that the non-performing asset was increased.

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

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -35 M) & Operating Cash Flow (¥ -4 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Management Risk (*Sales is decrease )
Sales (¥ 253 M) is first term Sales (¥ 264 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -35 M) is first term Net Income (¥ -17 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-14.05％) is first term Net Profit Margin (-6.60％) less , there is a possibility that the profitability has deteriorated.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -4 M) is a minus, Financial Cash Flow (¥ 34 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -2 M) is Sales first term ratio (¥ -11 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -4 M) and Investment Cash Flow (¥ -29 M) is minus, so , there is a possibility of the overinvestment.

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

Stated Capital less
As compared with the first term of Stated Capital (¥ 1 B), Stated Capital (¥ 80 M) is less than 10%, , there is a possibility that the management situation is extremely severe.

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

Management Risk (*Sales is decrease )
Sales (¥ 264 M) is first term Sales (¥ 290 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -17 M) is first term Net Income (¥ -11 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-6.60％) is first term Net Profit Margin (-3.84％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -9 M) & Financial Cash Flow (¥ -21 M) is a minus, Operating Cash Flow (¥ 3 M) is a plus,

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -330 K) is Sales first term ratio (¥ -25 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -17 M) is a minus, the cashflow of Operating Cash Flow (¥ 3 M) is smaller than Investment Cash Flow (¥ -9 M) , there is a possibility of the overinvestment.

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

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -11 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 (¥ -10 M) & Financial Cash Flow (¥ -20 M) is a minus, Operating Cash Flow (¥ 16 M) is a plus,