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

Financial Timeline

Financial Statement Risk Analysis: NOVARESE (Annual ) (Consolidated )

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

Management Risk (*Net Income is decrease )
Net Income (¥ 518 M) is first term Net Income (¥ 724 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (4.41％) is first term Net Profit Margin (6.57％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ 518 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -257 M) is paid.

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

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -1 B) & Financial Cash Flow (¥ -558 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

Dividend
Under the situation of Net Income (¥ 724 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -349 M) is paid.

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

Financial Timeline

Financial Statement Risk Analysis: NOVARESE (Annual ) (Non-Consolidated )

Special note

Net sales has increased 4 consecutive terms. The performance is good.

Net Assets have increased 4consecutive terms. The fiscal base is getting better.

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

Management Risk (*Net Income is decrease )
Net Income (¥ 552 M) is first term Net Income (¥ 632 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (4.74％) is first term Net Profit Margin (5.78％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ 552 M) & Operating Cash Flow (-) , Dividend (¥ -257 M) is paid.

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

Management Risk (*Net Income is decrease )
Net Income (¥ 632 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 (5.78％) is first term Net Profit Margin (9.49％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ 632 M) & Operating Cash Flow (-) , Dividend (¥ -349 M) is paid.

[Date: 2010-12-31]  Danger : Warning : Caution : Good

Financing Risk (*Issuance of new shares)
Financial Cash Flow (¥ -39 M) is a minus, Issuance of new shares (¥ 44 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.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -1 B) & Financial Cash Flow (¥ -39 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -100 M) is paid.

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

Dividend
Under the situation of Net Income (¥ 962 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -40 M) is paid.