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Credit Rating (Bankruptcy Risk): 高田機工 (Annual ) Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: 高田機工 (Annual ) (Non-Consolidated )

Special note

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

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

Management Risk (*Net Income & Sales is sharp decrease )
As compared with the first term of Sales (¥ 12 B) , Sales (¥ 15 B) is less than 80%, and As compared with the first term of Net Income (¥ 619 M) , Net Income (¥ 38 M) is less than 10%, , there is a possibility that the management situation has deteriorated very much.

Management Risk (*Sales is decrease )
Sales (¥ 12 B) is first term Sales (¥ 15 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 38 M) is first term Net Income (¥ 619 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.32％) is first term Net Profit Margin (4.05％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -299 M) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 2 B) is a plus,

Dividend
Under the situation of Net Income (¥ 38 M) & Operating Cash Flow (¥ 2 B) , Dividend (¥ -110 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -2 B) is Sales first term ratio (¥ -3 B) more , there is a possibility that the non-performing asset was increased.

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

Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -1 B) & Operating Cash Flow (¥ -467 M) is a minus, Interest-bearing Debt (¥ 3 B) is first term Interest-bearing Debt (¥ 2 B) more , there is a possibility that the financing is very severe.

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

Management Risk (*Net Income is decrease )
Net Income (¥ 619 M) is first term Net Income (¥ 742 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (4.05％) is first term Net Profit Margin (4.49％) less , there is a possibility that the profitability has deteriorated.

Financing Risk (*Operating Cash Flow is minus or 0 ＆Sales & Net Income is decrease )
Sales (¥ 15 B) is first term Sales (¥ 16 B) less Net Income (¥ 619 M) is first term Net Income (¥ 742 M) less, however Operating Cash Flow (¥ -467 M) is compensated for Investment Cash Flow (¥ 270 M) etc. , there is a possibility that the financing is severe.

Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -467 M) is a minus, Financial Cash Flow (¥ 611 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 (¥ 619 M) & Operating Cash Flow (¥ -467 M), Dividend (¥ -88 M) is paid.

Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -467 M) is minus, Investment Cash Flow (¥ 270 M) is plus. Because the main occupation was dull, stock property may have been sold off.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 385 M) is Sales first term ratio (¥ -1 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 (¥ 16 B) is first term Sales (¥ 23 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 742 M) is first term Net Income (¥ 1 B) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -55 M) & Financial Cash Flow (¥ -900 M) is a minus, Operating Cash Flow (¥ 939 M) is a plus,

Dividend
Under the situation of Net Income (¥ 742 M) & Operating Cash Flow (¥ 939 M) , Dividend (¥ -99 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 (¥ -7 B) more , there is a possibility that the non-performing asset was increased.

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

Dividend Risk
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ -576 M), Dividend (¥ -66 M) is paid.

Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -576 M) is minus, Investment Cash Flow (¥ 741 M) is plus. Because the main occupation was dull, stock property may have been sold off.

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

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -642 M) is minus or 0, so , there is a possibility that the management situation is severe.

Dividend
Under the situation of Net Income (¥ -642 M) & Operating Cash Flow (-) , Dividend (¥ -88 M) is paid.