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Credit Rating (Bankruptcy Risk): ALPHA SYSTEMS (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: ALPHA SYSTEMS (Annual ) (Non-Consolidated )

Special note

Net Assets have increased 5consecutive terms. The fiscal base is getting better.

Cash(¥ 13 B) is more than the total liabilities(¥ 6 B). It is a very steady fiscal base!

[Date: 2013-03-31]  Danger : Warning : Caution : Good

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -343 M) & Financial Cash Flow (¥ -546 M) is a minus, Operating Cash Flow (¥ 3 B) is a plus,

Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 3 B) , Dividend (¥ -544 M) is paid.

[Date: 2012-03-31]  Danger : Warning : Caution : Good

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Operating Cash Flow (¥ -229 M) and Investment Cash Flow (¥ -177 M) is minus, Net Income (¥ 499 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.

Management Risk (*Sales is decrease )
Sales (¥ 22 B) is first term Sales (¥ 24 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 499 M) is first term Net Income (¥ 882 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (2.22％) is first term Net Profit Margin (3.55％) less , there is a possibility that the profitability has deteriorated.

Dividend Risk
Under the situation of Net Income (¥ 499 M) & Operating Cash Flow (¥ -229 M), Dividend (¥ -494 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -1 B) is Sales first term ratio (¥ -2 B) more , there is a possibility that the non-performing asset was increased.

[Date: 2011-03-31]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 24 B) is first term Sales (¥ 25 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 882 M) is first term Net Income (¥ 1 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (3.55％) is first term Net Profit Margin (6.78％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -348 M) & Financial Cash Flow (¥ -494 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

Dividend
Under the situation of Net Income (¥ 882 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -494 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 1 B) is Sales first term ratio (¥ -993 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2010-03-31]  Danger : Warning : Caution : Good

Management Risk (*Sales is decrease )
Sales (¥ 25 B) is first term Sales (¥ 26 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 1 B) is first term Net Income (¥ 2 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (6.78％) is first term Net Profit Margin (7.99％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -494 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 490 M) is Sales first term ratio (¥ -846 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2009-03-31]  Danger : Warning : Caution : Good

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -1 B) & Financial Cash Flow (¥ -617 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

Dividend
Under the situation of Net Income (¥ 2 B) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -618 M) is paid.