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Credit Rating (Bankruptcy Risk): Sanyo　Kaihatsu　 (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: Sanyo　Kaihatsu　 (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.

Cash(¥ 299 M) is more than the total liabilities(¥ 245 M). It is a very steady fiscal base!

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

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -25 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Gross Income is decrease )
Gross Income (¥ 303 M) is first term Gross Income (¥ 315 M) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -9 M) & Financial Cash Flow (¥ -4 M) is a minus, Operating Cash Flow (¥ 24 M) is a plus,

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

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -26 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 401 M) is first term Sales (¥ 423 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -26 M) is first term Net Income (¥ -23 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-6.50％) is first term Net Profit Margin (-5.47％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -21 M) & Financial Cash Flow (¥ -13 M) is a minus, Operating Cash Flow (¥ 12 M) is a plus,

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 3 M) is Sales first term ratio (¥ -21 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -26 M) is a minus, the cashflow of Operating Cash Flow (¥ 12 M) is smaller than Investment Cash Flow (¥ -21 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 (¥ -23 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 (¥ -888 K) & Financial Cash Flow (¥ -9 M) is a minus, Operating Cash Flow (¥ 31 M) is a plus,

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

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -60 M) & Operating Cash Flow (¥ -4 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -4 M) and Investment Cash Flow (¥ -19 M) is minus, so , there is a possibility of the overinvestment.