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Credit Rating (Bankruptcy Risk): Don (Annual ) Non-Consolidated

Financial Timeline

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

Special note

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

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

[Date: 2013-02-28]  Danger : Warning : Caution : Good

Management Risk (*Cumulative loss)
Earned Surplus etc. (¥ -911 M) is minus, so Cumulative loss , there is a possibility that the management situation is severe.

Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 20 B) is first term (¥ 20 B) more, however Operating Cash Flow (¥ 772 M) is first term (¥ 809 M) less , there is a possibility that the financing has deteriorated very much.

[Date: 2012-02-29]  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 Risk (*Issuance of new shares)
Financial Cash Flow (¥ -288 M) is a minus, Issuance of new shares (¥ 3 B) 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 (¥ 20 B) is first term Sales (¥ 22 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 6 B) is first term Gross Income (¥ 7 B) less , there is a possibility that the management situation has stagnated and deteriorated

Financing Risk (*Issuance of new shares)
Investment Cash Flow (¥ 71 M) is a plus, Issuance of new shares (¥ 3 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.

Non-performing asset Risk (*Accounts Receivable and Inventory, etc. confirmed content)
Other Current Assets first term ratio (¥ 295 M) is Sales first term ratio (¥ -1 B) more , there is a possibility that the non-performing asset was increased.

[Date: 2011-02-28]  Danger : Warning : Caution : Good

Management Risk (*Liabilities in excess of assets)
Net Assets (¥ -2 B) is minus, so Liabilities in excess of assets , the management situation is extremely severe.

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -247 M) & Operating Cash Flow (¥ -464 M) is minus or 0, so , there is a possibility that the management situation is very severe.

Management Risk (*Sales is decrease )
Sales (¥ 22 B) is first term Sales (¥ 24 B) less , there is a possibility that the management situation has stagnated and deteriorated

Management Risk (*Gross Income is decrease )
Gross Income (¥ 7 B) is first term Gross Income (¥ 8 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 (¥ 22 B) is first term Sales (¥ 24 B) less, however Operating Cash Flow (¥ -464 M) is compensated for Investment Cash Flow (¥ 276 M) etc. , there is a possibility that the financing is severe.

Financing Risk (*Sale of stock property)
Operating Cash Flow (¥ -464 M) is minus, Investment Cash Flow (¥ 276 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 (¥ -42 M) is Sales first term ratio (¥ -2 B) more , there is a possibility that the non-performing asset was increased.

[Date: 2010-02-28]  Danger : Warning : Caution : Good

Management Risk (*Liabilities in excess of assets)
Net Assets (¥ -1 B) is minus, so Liabilities in excess of assets , the management situation is extremely severe.

Management Risk (*Net Income & Operating Cash Flow is minus or 0 )
Net Income(¥ -2 B) & Operating Cash Flow (¥ -196 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 (¥ -196 M) is a minus, Financial Cash Flow (¥ 301 M) is a plus. Because sale is inactive, it may depend for financing on loan from banks, capital increase, etc.

Overinvestment Risk (*Intangible Assets confirmed content)
Operating Cash Flow (¥ -196 M) and Investment Cash Flow (¥ -644 M) is minus, so , there is a possibility of the overinvestment.