MEIKO NETWORK JAPAN (Annual ): Credit Rating Analysis

Credit Rating Analysis: MEIKO NETWORK JAPAN (Annual )

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

Date	Credit Rating	Comment
2013-08-31	AA	Credit is very high, slightly affected by biz environs.

Date	2013-02-28 (Second quarter )	2013-05-31 (Third quarter )	2013-08-31 (Annual )	2013-11-30 (First quarter )
Credit Rating	AA	AAA	AA	AA
Total Assets	¥ 16 B	¥ 15 B	¥ 16 B	¥ 16 B
Net Assets	¥ 11 B	¥ 11 B	¥ 11 B	¥ 11 B

Special note: Cash(¥ 7 B) is more than the total liabilities(¥ 4 B). It is a very steady fiscal base!

[Date: 2013-08-31] Danger : Warning : Caution : Good: Financing Risk (*Issuance of new shares)
Financial Cash Flow (¥ -1 B) is a minus, Issuance of new shares (¥ 11 M) 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.; Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -293 M) & Financial Cash Flow (¥ -1 B) is a minus, Operating Cash Flow (¥ 2 B) is a plus,; Dividend
Under the situation of Net Income (¥ 2 B) & Operating Cash Flow (¥ 2 B) , Dividend (¥ -717 M) is paid.; Financing Risk (*Operating Cash Flow is decrease )
Sales (¥ 15 B) is first term (¥ 14 B) more, however Operating Cash Flow (¥ 2 B) is first term (¥ 2 B) less , there is a possibility that the financing has deteriorated very much.

[Date: 2012-08-31] Danger : Warning : Caution : Good: Financing Risk (*Issuance of new shares)
Financial Cash Flow (¥ -1 B) is a minus, Issuance of new shares (¥ 2 M) 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 (*Net Profit Margin is decrease )
Net Profit Margin (13.59％) is first term Net Profit Margin (14.01％) 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 (¥ 2 B) is a plus,; Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 2 B) , Dividend (¥ -662 M) is paid.

[Date: 2011-08-31] Danger : Warning : Caution : Good: Management Risk (*Net Profit Margin is decrease )
Net Profit Margin (14.01％) is first term Net Profit Margin (14.76％) less , there is a possibility that the profitability has deteriorated.; Financing Good (*Operating Cash Flow is plus )
Investment Cash Flow (¥ -758 M) & Financial Cash Flow (¥ -904 M) 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 (¥ -577 M) is paid.

[Date: 2010-08-31] Danger : Warning : Caution : Good: Financing Risk (*Issuance of new shares)
Financial Cash Flow (¥ -3 B) is a minus, Issuance of new shares (¥ 1 M) 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.; Financing Risk (*Issuance of new shares)
Investment Cash Flow (¥ 882 M) is a plus, Issuance of new shares (¥ 1 M) 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.; Dividend
Under the situation of Net Income (¥ 1 B) & Operating Cash Flow (¥ 2 B) , Dividend (¥ -599 M) is paid.

[Date: 2009-08-31] Danger : Warning : Caution : Good: Management Risk (*Net Income is minus or 0 )
Net Income (-) is minus or 0, so , there is a possibility that the management situation is severe.

Date	- (First quarter )	- (Second quarter )	- (Third quarter )	2013-08-31 (Annual )
Credit Rating	-	-	-	AA
Total Assets	-	-	-	¥ 15 B
Net Assets	-	-	-	¥ 11 B

Statement Type: Annual : MEIKO NETWORK JAPAN; First quarter : MEIKO NETWORK JAPAN; Second quarter : MEIKO NETWORK JAPAN; Third quarter : MEIKO NETWORK JAPAN

Analysis Menu: Outline : MEIKO NETWORK JAPAN; Statement : MEIKO NETWORK JAPAN; Rating : MEIKO NETWORK JAPAN; Indicator : MEIKO NETWORK JAPAN; Download : MEIKO NETWORK JAPAN

Industry Comparison Ranking: Other Services - EDIUNET Industry Rankings; Other Services - EDIUNET Credit Rating; Other Services - EDIUNET Industry Avg

Comparison with a neighboring company: Tokyo - EDIUNET Prefectures; Tokyo新宿区 - EDIUNET Prefectures

Date	Company	Credit Rating	Date
1/21	Netindex.	CC	2013-11-30
1/20	川崎地質	BB→BBB	2013-11-30
1/20	KYOWA ENGINEERING CONSU..	B→BB	2013-11-30
1/20	KG Intelligence	AAA→AA	2013-12-20
1/16	アクトコール	-→B	2013-11-30
1/16	S-Pool	C→CC	2013-11-30
1/16	T&C HOLDINGS	C	2013-11-30
1/15	HITO	-→AAA	2013-11-30 (Q1)
1/15	Pasona Group	CC	2013-11-30 (Q2)
1/15	乃村工藝社	BB→BBB	2013-11-30 (Q3)

EDIUNET Investment News (Other Services): 1/21 Other Services (Netindex.:CC); 1/20 Other Services (川崎地質:BB→..; 1/16 Other Services (アクトコール..; 1/15 Other Services (HITO:-→AAA e..; 1/10 Other Services (JASTEC:BB→BB..; 1/9 Other Services (MEIKO NETWOR..; 1/7 Other Services (ジェイコム:A..; 1/6 Other Services (ダイヤモンド..; 12/27 Other Services (D Wonderland..; 12/26 Other Services (キャリアリン..

Ticker	Market	Industry	Month	report	Rating
MEIKO NETWORK JAPAN	4668	TSE 1st	Other Services	8	Annual	AA

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

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