Credit Rating (Bankruptcy Risk): KAWAI MUSICAL INSTRUMENTS MANUFACTURING (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: KAWAI MUSICAL INSTRUMENTS MANUFACTURING (Annual ) (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 (*Sales is decrease )
Sales (¥ 54 B) is first term Sales (¥ 58 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 943 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 (1.72％) is first term Net Profit Margin (2.77％) less , there is a possibility that the profitability has deteriorated.

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

Dividend
Under the situation of Net Income (¥ 943 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -342 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 (¥ -3 B) more , there is a possibility that the non-performing asset was increased.

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

Management Risk (*Sales is decrease )
Sales (¥ 58 B) is first term Sales (¥ 58 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 (¥ 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 (2.77％) is first term Net Profit Margin (3.17％) less , there is a possibility that the profitability has deteriorated.

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -546 M) & Financial Cash Flow (¥ -2 B) is a minus, Operating Cash Flow (¥ 2 B) is a plus,

Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 2 B) , Dividend (¥ -384 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 484 M) is Sales first term ratio (¥ -543 M) more , there is a possibility that the non-performing asset was increased.

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

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -1 B) & Financial Cash Flow (¥ -2 B) is a minus, Operating Cash Flow (¥ 5 B) is a plus,

Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 5 B) , Dividend (¥ -213 M) is paid.

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

Management Risk (*Sales is decrease )
Sales (¥ 56 B) is first term Sales (¥ 61 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 41 B) is first term Gross Income (¥ 46 B) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -1 B) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 4 B) is a plus,

Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 4 B) , Dividend (¥ -128 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 342 M) is Sales first term ratio (¥ -5 B) more , there is a possibility that the non-performing asset was increased.

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

Management Risk (*Net Income is minus or 0 )
Net Income (¥ -784 M) 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 (¥ -383 M) & Financial Cash Flow (¥ -658 M) is a minus, Operating Cash Flow (¥ 965 M) is a plus,

Dividend Risk
Under the situation of Net Income (¥ -784 M) & Operating Cash Flow (¥ 965 M), Dividend (¥ -427 M) is paid.

Credit Rating (Bankruptcy Risk): KAWAI MUSICAL INSTRUMENTS MANUFACTURING (Annual ) Consolidated | Non-Consolidated

Financial Timeline

Financial Statement Risk Analysis: KAWAI MUSICAL INSTRUMENTS MANUFACTURING (Annual ) (Non-Consolidated )

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

Stated Capital less
As compared with the first term of Stated Capital (¥ 6 B), Stated Capital (-) is less than 10%, , there is a possibility that the management situation is extremely severe.

Management Risk (*Sales is decrease )
Sales (¥ 46 B) is first term Sales (¥ 47 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Income is decrease )
Net Income (¥ 267 M) is first term Net Income (¥ 669 M) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.58％) is first term Net Profit Margin (1.39％) less , there is a possibility that the profitability has deteriorated.

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

Management Risk (*Sales is decrease )
Sales (¥ 47 B) is first term Sales (¥ 49 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 37 B) is first term Gross Income (¥ 39 B) less , there is a possibility that the management situation has stagnated and deteriorated

Dividend
Under the situation of Net Income (¥ 669 M) & Operating Cash Flow (-) , Dividend (¥ -384 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ -71 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 (*Net Income is decrease )
Net Income (¥ 645 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 (1.30％) is first term Net Profit Margin (2.41％) less , there is a possibility that the profitability has deteriorated.

Dividend
Under the situation of Net Income (¥ 645 M) & Operating Cash Flow (-) , Dividend (¥ -213 M) is paid.

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

Management Risk (*Sales is decrease )
Sales (¥ 47 B) is first term Sales (¥ 52 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 36 B) is first term Gross Income (¥ 41 B) less , there is a possibility that the management situation has stagnated and deteriorated

Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (-) , Dividend (¥ -128 M) is paid.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 624 M) is Sales first term ratio (¥ -5 B) more , there is a possibility that the non-performing asset was increased.

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

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.

Dividend
Under the situation of Net Income (¥ -1 B) & Operating Cash Flow (-) , Dividend (¥ -427 M) is paid.