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Credit Rating Analysis: 日本アビオニクス (Annual )

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

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Credit Rating (Bankruptcy Risk): 日本アビオニクス (Annual ) Consolidated | Non-Consolidated

Date Credit Rating Comment
2013-03-31  CC  Credit is very vulnerable.

Financial Timeline

Date  2012-12-31 
(Third quarter )		 2013-03-31 
(Annual )		 2013-06-30 
(First quarter )		 2013-09-30 
(Second quarter )
Credit Rating CCCCBB
Total Assets
¥ 28 B
¥ 28 B
¥ 28 B
¥ 28 B
Net Assets
¥ 4 B
¥ 6 B
¥ 5 B
¥ 6 B

Financial Statement Risk Analysis: 日本アビオニクス (Annual ) (Consolidated )

Special note
The change of Net income is going too far. The management situation is unstable.
[Date: 2013-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -823 M) & Operating Cash Flow (¥ -1 B) is minus or 0, so , there is a possibility that the management situation is very severe.
Financing Risk (*Interest-bearing Debt more)
Sales first term ratio (¥ -1 B) & Operating Cash Flow (¥ -1 B) is a minus, Interest-bearing Debt (¥ 10 B) is first term Interest-bearing Debt (¥ 9 B) more , there is a possibility that the financing is very severe.
Management Risk (*Sales is decrease )
Sales (¥ 25 B) is first term Sales (¥ 27 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Gross Income is decrease )
Gross Income (¥ 20 B) is first term Gross Income (¥ 21 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Risk (*Operating Cash Flow is minus or 0 ＆Sales is decrease )
Sales (¥ 25 B) is first term Sales (¥ 27 B) less, however Operating Cash Flow (¥ -1 B) is compensated for Investment Cash Flow (¥ 331 M) etc. , there is a possibility that the financing is severe.
Financing Risk (*Issuance of new shares)
Investment Cash Flow (¥ 331 M) is a plus, Issuance of new shares (¥ 1 B) is plus. Because it is thought that the circulating fund is gained by sale and new issue of stocks of stock property , there is a possibility that the financing is severe.
Financing Risk (*Financial Cash Flow is plus )
Operating Cash Flow (¥ -1 B) is a minus, Financial Cash Flow (¥ 2 B) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.
Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -1 B) is minus, Investment Cash Flow (¥ 331 M) is plus. Because the main occupation was dull, stock property may have been sold off.
Non-performing asset Risk
Net Income (¥ -823 M) Operating Cash Flow (¥ -1 B) is a minus, Other Current Assets (¥ 17 B) - more than 50% of Total Assets (¥ 28 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 (¥ 990 M) is Sales first term ratio (¥ -1 B) more , there is a possibility that the non-performing asset was increased.
[Date: 2012-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -1 B) & Operating Cash Flow (¥ -52 M) is minus or 0, so , there is a possibility that the management situation is very severe.
Management Risk (*Sales is decrease )
Sales (¥ 27 B) is first term Sales (¥ 29 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 (¥ -183 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-6.84％) is first term Net Profit Margin (-0.63％) less , there is a possibility that the profitability has deteriorated.
Non-performing asset Risk
Net Income (¥ -1 B) Operating Cash Flow (¥ -52 M) is a minus, Other Current Assets (¥ 16 B) - more than 50% of Total Assets (¥ 28 B) is occupied , there is a possibility of holding the non-performing asset.
Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -52 M) and Investment Cash Flow (¥ -428 M) is minus, so , there is a possibility of the overinvestment.
[Date: 2011-03-31]  Danger : Warning : Caution : Good
Management Risk (*Net Income is minus or 0 )
Net Income (¥ -183 M) is minus or 0, so , there is a possibility that the management situation is severe.
Management Risk (*Net Income is decrease )
Net Income (¥ -183 M) is first term Net Income (¥ 157 M) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (-0.63％) is first term Net Profit Margin (0.59％) less , there is a possibility that the profitability has deteriorated.
Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 29 B) is first term (¥ 26 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.
Non-performing asset Risk
Net Income (¥ -183 M) is a minus, Other Current Assets (¥ 18 B) - more than 50% of Total Assets (¥ 32 B) is occupied , there is a possibility of holding the non-performing asset.
[Date: 2010-03-31]  Danger : Warning : Caution : Good
Management Risk (*Sales is decrease )
Sales (¥ 26 B) is first term Sales (¥ 28 B) less , there is a possibility that the management situation has stagnated and deteriorated
Management Risk (*Gross Income is decrease )
Gross Income (¥ 19 B) is first term Gross Income (¥ 21 B) less , there is a possibility that the management situation has stagnated and deteriorated
Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -895 M) & Financial Cash Flow (¥ -3 B) is a minus, Operating Cash Flow (¥ 2 B) is a plus,
Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 940 M) is Sales first term ratio (¥ -1 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 Risk
Under the situation of Net Income (¥ -1 B) & Operating Cash Flow (¥ 120 M), Dividend (¥ -183 M) is paid.
Non-performing asset Risk
Net Income (¥ -1 B) is a minus, Other Current Assets (¥ 15 B) - more than 50% of Total Assets (¥ 31 B) is occupied , there is a possibility of holding the non-performing asset.
Overinvestment Risk (*Investment Cash Flow confirmed content)
Net Income (¥ -1 B) is a minus, the cashflow of Operating Cash Flow (¥ 120 M) is smaller than Investment Cash Flow (¥ -417 M) , there is a possibility of the overinvestment.

Related Information: 日本アビオニクス (Annual )

Statement Type
Annual : 日本アビオニクス
First quarter : 日本アビオニクス
Second quarter : 日本アビオニクス
Third quarter : 日本アビオニクス
Analysis Menu
@Outline : 日本アビオニクス
@Statement : 日本アビオニクス
@Rating : 日本アビオニクス
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@Download : 日本アビオニクス
Industry Comparison Ranking
Electric Appliances - EDIUNET Industry Rankings
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Comparison with a neighboring company
Tokyo - EDIUNET Prefectures
Tokyo品川区 - EDIUNET Prefectures

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@ 日本アビオニクス 6946 TSE 2st Electric Appliances 3 Annual CC

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