Ｇ－７ HLDGS (Annual ): Credit Rating Analysis

Credit Rating Analysis: Ｇ－７ホールディングス (Annual )

The details of credit rating (bankruptcy risk) can be checked. A credit rating in nine stages (AAA-C).

Date	Credit Rating	Comment
2013-03-31	A	Credit is high, but affected by biz environs.

Date	2012-12-31 (Third quarter )	2013-03-31 (Annual )	2013-06-30 (First quarter )	2013-09-30 (Second quarter )
Credit Rating	AA	A	A	BBB
Total Assets	¥ 33 B	¥ 30 B	¥ 30 B	¥ 29 B
Net Assets	¥ 10 B	¥ 10 B	¥ 10 B	¥ 10 B

Special note: Net sales has increased 5 consecutive terms. The performance is good.; Net Assets have increased 5consecutive terms. The fiscal base is getting better.

[Date: 2013-03-31] Danger : Warning : Caution : Good: Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -1 B) & Financial Cash Flow (¥ -692 M) is a minus, Operating Cash Flow (¥ 3 B) is a plus,; Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 3 B) , Dividend (¥ -255 M) is paid.

[Date: 2012-03-31] Danger : Warning : Caution : Good: Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.95％) is first term Net Profit Margin (0.98％) less , there is a possibility that the profitability has deteriorated.; Dividend
Under the situation of Net Income (¥ 722 M) & Operating Cash Flow (¥ 1 B) , Dividend (¥ -170 M) is paid.; Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 76 B) is first term (¥ 71 B) more, however Operating Cash Flow (¥ 1 B) is first term (¥ 2 B) less , there is a possibility that the financing has deteriorated very much.

[Date: 2011-03-31] Danger : Warning : Caution : Good: Management Risk (*Net Income is decrease )
Net Income (¥ 701 M) is first term Net Income (¥ 871 M) less , there is a possibility that the management situation has stagnated and deteriorated; Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (0.98％) is first term Net Profit Margin (1.30％) 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 (¥ -818 M) is a minus, Operating Cash Flow (¥ 2 B) is a plus,; Dividend
Under the situation of Net Income (¥ 701 M) & Operating Cash Flow (¥ 2 B) , Dividend (¥ -286 M) is paid.; Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 71 B) is first term (¥ 67 B) more, however Operating Cash Flow (¥ 2 B) is first term (¥ 4 B) less , there is a possibility that the financing has deteriorated very much.

[Date: 2010-03-31] Danger : Warning : Caution : Good: Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -745 M) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 4 B) is a plus,; Dividend
Under the situation of Net Income (¥ 871 M) & Operating Cash Flow (¥ 4 B) , Dividend (¥ -132 M) is paid.

[Date: 2009-03-31] Danger : Warning : Caution : Good: Dividend
Under the situation of Net Income (¥ 259 M) & Operating Cash Flow (¥ 2 B) , Dividend (¥ -132 M) is paid.

Date	Credit Rating	Comment
2013-03-31	BB	Credit is a little enough, but be insufficient potential by biz environs.

Date	- (First quarter )	- (Second quarter )	- (Third quarter )	2013-03-31 (Annual )
Credit Rating	-	-	-	BB
Total Assets	-	-	-	¥ 18 B
Net Assets	-	-	-	¥ 6 B

Statement Type: Annual : Ｇ－７ホールディングス; First quarter : Ｇ－７ホールディングス; Second quarter : Ｇ－７ホールディングス; Third quarter : Ｇ－７ホールディングス

Analysis Menu: Outline : Ｇ－７ホールディングス; Statement : Ｇ－７ホールディングス; Rating : Ｇ－７ホールディングス; Indicator : Ｇ－７ホールディングス; Download : Ｇ－７ホールディングス

Industry Comparison Ranking: Retail Trade - EDIUNET Industry Rankings; Retail Trade - EDIUNET Credit Rating; Retail Trade - EDIUNET Industry Avg

Comparison with a neighboring company: Hyogo - EDIUNET Prefectures; Hyogo神戸市 - EDIUNET Prefectures

Date	Company	Credit Rating	Date
1/28	CAWACHI	A	2013-12-15 (Q3)
1/28	ハチバン	A	2013-12-20 (Q3)
1/15	SALA	AA→A	2013-11-30
1/15	CAN DO	BB→BBB	2013-11-30
1/15	BIC CAMERA	CCC→BBB	2013-11-30 (Q1)
1/15	Shimachu	AA	2013-11-30 (Q1)
1/15	COSMOS Pharmaceutical	AAA→AA	2013-11-30 (Q2)
1/15	AEON	BBB	2013-11-30 (Q3)
1/15	LIFE	-→AAA	2013-11-30 (Q3)
1/15	The Maruetsu	BBB→A	2013-11-30 (Q3)

EDIUNET Investment News (Retail Trade): 1/28 Retail Trade (CAWACHI:A etc...; 1/15 Retail Trade (SALA:AA→A etc...; 1/10 Retail Trade (ファーストリテ..; 1/9 Retail Trade (The Daiei:C et..; 1/7 Retail Trade (CREATE SD HOLD..; 1/6 Retail Trade (あみやき亭:AA ..; 12/27 Retail Trade (HIMARAYA:CCC→C..; 12/26 Retail Trade (J.FRONT RETAIL..; 12/25 Retail Trade (PARCO:A etc.2 ..; 12/24 Retail Trade (ライトオン:B→C..

Ticker	Market	Industry	Month	report	Rating
Ｇ－７ホールディングス	7508	TSE 1st	Retail Trade	3	Annual	A

*Financial data might be different from the actual one. Please confirm the original, and read Caution.

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