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Credit Rating (Bankruptcy Risk): ICHISHIN HOLDINGS (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: ICHISHIN HOLDINGS (Annual ) (Consolidated )

Special note

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

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

[Date: 2013-02-28]  Danger : Warning : Caution : Good

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -1 B) & Operating Cash Flow (¥ -694 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 (¥ -1 B) is first term Net Income (¥ -370 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-8.24％) is first term Net Profit Margin (-2.06％) less , there is a possibility that the profitability has deteriorated.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -694 M) is a minus, Financial Cash Flow (¥ 459 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Dividend Risk
Under the situation of Net Income (¥ -1 B) & Operating Cash Flow (¥ -694 M), Dividend (¥ -90 M) is paid.

Financing Risk (*Interest-bearing Debt more)
Operating Cash Flow (¥ -694 M) is a minus, Interest-bearing Debt (¥ 5 B) is first term Interest-bearing Debt (¥ 2 B) more , there is a possibility that the financing has deteriorated very much.

Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 19 B) is first term (¥ 17 B) more, however Operating Cash Flow (¥ -694 M) is first term (¥ -198 M) less , there is a possibility that the financing has deteriorated very much.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -694 M) and Investment Cash Flow (¥ -313 M) is minus, so , there is a possibility of the overinvestment.

[Date: 2012-02-29]  Danger : Warning : Caution : Good

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -370 M) & Operating Cash Flow (¥ -198 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -910 M) & Operating Cash Flow (¥ -198 M) is a minus, Interest-bearing Debt (¥ 2 B) is first term Interest-bearing Debt (¥ 1 B) more , there is a possibility that the financing is very severe.

Management Risk (*Sales is decrease )
Sales (¥ 17 B) is first term Sales (¥ 18 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -370 M) is first term Net Income (¥ 160 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-2.06％) is first term Net Profit Margin (0.85％) less , there is a possibility that the profitability has deteriorated.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -198 M) is a minus, Financial Cash Flow (¥ 497 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Dividend Risk
Under the situation of Net Income (¥ -370 M) & Operating Cash Flow (¥ -198 M), Dividend (¥ -85 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 25 M) is Sales first term ratio (¥ -910 M) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -198 M) and Investment Cash Flow (¥ -1 B) is minus, so , there is a possibility of the overinvestment.

[Date: 2011-02-28]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 18 B) is first term Sales (¥ 19 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 15 B) is first term Gross Income (¥ 16 B) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -528 M) & Operating Cash Flow first term ratio (¥ -253 M) is a minus, Interest-bearing Debt (¥ 1 B) is first term Interest-bearing Debt (¥ 1 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 (¥ 264 M) is Sales first term ratio (¥ -528 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2010-02-28]  Danger : Warning : Caution : Good

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -34 M) & Financial Cash Flow (¥ -178 M) is a minus, Operating Cash Flow (¥ 598 M) is a plus,

Dividend
Under the situation of Net Income (¥ 154 M) & Operating Cash Flow (¥ 598 M) , Dividend (¥ -85 M) is paid.

Credit Rating (Bankruptcy Risk): ICHISHIN HOLDINGS (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: ICHISHIN HOLDINGS (Annual ) (Non-Consolidated )

Special note

Net sales has dropped 3 consecutive terms. The business have high risk.

Net Assets have dropped 3 consecutive terms. The fiscal base is getting worse.

[Date: 2012-02-29]  Danger : Warning : Caution : Good

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -86 M) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 1 B) is first term Sales (¥ 1 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -86 M) is first term Net Income (¥ 101 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-4.62％) is first term Net Profit Margin (5.16％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ -86 M) & Operating Cash Flow (-) , Dividend (¥ -85 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 54 M) is Sales first term ratio (¥ -96 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2011-02-28]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 1 B) is first term Sales (¥ 17 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ -896 K) is first term Gross Income (¥ 14 B) less , there is a possibility that the management situation has stagnated and deteriorated

Dividend
Under the situation of Net Income (¥ 101 M) & Operating Cash Flow (-) , Dividend (¥ -85 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 317 M) is Sales first term ratio (¥ -15 B) more , there is a possibility that the non-performing asset was increased.

[Date: 2010-02-28]  Danger : Warning : Caution : Good

Dividend
Under the situation of Net Income (¥ 84 M) & Operating Cash Flow (-) , Dividend (¥ -85 M) is paid.