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Credit Rating (Bankruptcy Risk): The First Energy Service (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: The First Energy Service (Annual ) (Consolidated )

Special note

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

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

[Date: 2013-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -311 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Stated Capital less
Stated Capital (¥ 1 B) is first term Stated Capital (¥ 6 B) less , there is a possibility that the management situation is very severe.

Management Risk (*Net Income is decrease )
Net Income (¥ 190 M) is first term Net Income (¥ 250 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (3.13％) is first term Net Profit Margin (4.48％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -835 M) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

[Date: 2012-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -6 B) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 5 B) is first term Sales (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 4 B) is first term Gross Income (¥ 5 B) less , there is a possibility that the management situation has stagnated and deteriorated

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 166 M) is Sales first term ratio (¥ -876 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2011-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -6 B) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Financing Risk (*Issuance of new shares)
Financial Cash Flow (¥ -1 B) is a minus, Issuance of new shares (¥ 479 M) is plus. Because a possibility of having appropriated the capital-increase fund for repayment of borrowed money is high , there is a possibility that the financing is extremely severe.

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -1 B) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 6 B) is first term Sales (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 5 B) is first term Gross Income (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Risk (*Issuance of new shares)
Investment Cash Flow (¥ 175 M) is a plus, Issuance of new shares (¥ 479 M) is plus. Because it is thought that the circulating fund is gained by sale and new issue of stocks of stock property , there is a possibility that the financing is severe.

[Date: 2010-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -5 B) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income & Sales is sharp decrease )
As compared with the first term of Sales (¥ 6 B) , Sales (¥ 11 B) is less than 80%, and As compared with the first term of Net Income (¥ -4 B) , Net Income (¥ -2 B) is less than 10%, , there is a possibility that the management situation has deteriorated very much.

Financing Risk (*Issuance of new shares)
Financial Cash Flow (¥ -909 M) is a minus, Issuance of new shares (¥ 10 M) is plus. Because a possibility of having appropriated the capital-increase fund for repayment of borrowed money is high , there is a possibility that the financing is extremely severe.

Management Risk (*Sales is decrease )
Sales (¥ 6 B) is first term Sales (¥ 11 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 6 B) is first term Gross Income (¥ 12 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-44.16％) is first term Net Profit Margin (-34.66％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -18 M) & Financial Cash Flow (¥ -909 M) is a minus, Operating Cash Flow (¥ 833 M) is a plus,

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 211 M) is Sales first term ratio (¥ -5 B) more , there is a possibility that the non-performing asset was increased.

[Date: 2009-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -2 B) 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 (¥ -4 B) 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 (¥ -2 B) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 885 M) is a plus,

Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -4 B) is a minus, the cashflow of Operating Cash Flow (¥ 885 M) is smaller than Investment Cash Flow (¥ -2 B) , there is a possibility of the overinvestment.

Credit Rating (Bankruptcy Risk): The First Energy Service (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: The First Energy Service (Annual ) (Non-Consolidated )

Special note

Net income is minus 4 consecutive terms. The business have very high risk.

[Date: 2012-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -5 B) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

[Date: 2011-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -6 B) 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 (¥ -1 B) is minus or 0, so , there is a possibility that the management situation is severe.

Management Risk (*Sales is decrease )
Sales (¥ 3 B) is first term Sales (¥ 3 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 3 B) is first term Gross Income (¥ 3 B) less , there is a possibility that the management situation has stagnated and deteriorated

[Date: 2010-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -4 B) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income & Sales is sharp decrease )
As compared with the first term of Sales (¥ 3 B) , Sales (¥ 8 B) is less than 80%, and As compared with the first term of Net Income (¥ -3 B) , Net Income (¥ -3 B) is less than 10%, , there is a possibility that the management situation has deteriorated very much.

Management Risk (*Sales is decrease )
Sales (¥ 3 B) is first term Sales (¥ 8 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ -3 B) is first term Net Income (¥ -3 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-90.15％) is first term Net Profit Margin (-41.10％) 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 (¥ -891 M) is Sales first term ratio (¥ -4 B) more , there is a possibility that the non-performing asset was increased.

[Date: 2009-06-30]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -1 B) 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 (¥ -3 B) is minus or 0, so , there is a possibility that the management situation is severe.