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

Financial Timeline

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

Special note

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

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

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

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -213 M) 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 (¥ 5 B) less , there is a possibility that the management situation has stagnated and deteriorated

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

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -769 M) & Financial Cash Flow (¥ -528 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -2 M) is Sales first term ratio (¥ -131 M) more , there is a possibility that the non-performing asset was increased.

[Date: 2012-03-31]  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.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -324 M) & Financial Cash Flow (¥ -231 M) is a minus, Operating Cash Flow (¥ 1 B) is a plus,

[Date: 2011-03-31]  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 (*Current Profit is minus or 0 )
Current Profit (¥ -448 M) is minus or 0, so , there is a possibility that the management situation is severe.

[Date: 2010-03-31]  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 (-) is minus or 0, so , there is a possibility that the management situation is severe.

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

Financial Timeline

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

Special note

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

The change of Operating cash flow is going too far. The management situation is unstable.

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

Stated Capital less
As compared with the first term of Stated Capital (¥ 1 B), Stated Capital (-) is less than 10%, , there is a possibility that the management situation is extremely severe.

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

[Date: 2012-03-31]  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.

[Date: 2011-03-31]  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 (*Current Profit is minus or 0 )
Current Profit (¥ -447 M) 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 (¥ 6 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 1 B) is first term Gross Income (¥ 2 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 (¥ -1 B) is Sales first term ratio (¥ -2 B) more , there is a possibility that the non-performing asset was increased.

[Date: 2010-03-31]  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 & Operating Cash Flow is minus or 0 )
Net Income(¥ -1 B) & Operating Cash Flow (¥ -338 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Financing Risk (*Issuance of new shares)
Financial Cash Flow (¥ -362 M) is a minus, Issuance of new shares (¥ 881 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 (¥ 9 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 2 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
Net Income (¥ -1 B) Operating Cash Flow (¥ -338 M) is a minus, Other Current Assets (¥ 2 B) - more than 50% of Total Assets (¥ 4 B) is occupied , there is a possibility of holding the non-performing asset.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -209 M) is Sales first term ratio (¥ -3 B) more , there is a possibility that the non-performing asset was increased.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -338 M) and Investment Cash Flow (¥ -309 M) is minus, so , there is a possibility of the overinvestment.

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

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -970 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -2 B) & Operating Cash Flow (¥ -843 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -843 M) is a minus, Financial Cash Flow (¥ 1 B) 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 (¥ -2 B) & Operating Cash Flow (¥ -843 M), Dividend (¥ -62 M) is paid.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -843 M) and Investment Cash Flow (¥ -659 M) is minus, so , there is a possibility of the overinvestment.