Since the financial situation of "B-CAS" famous for terrestrial digital broadcasting was clarified, I got a tax accountant to appraise it

Results of coverage of the Asahi Newspaper, Famous for terrestrial digital broadcasting "B-CAS"The financial situation of the company was clarified. The graph above shows the sales figures shown above.

Although it is the financial situation that was announced this time, there is reason to only say "I do not want to see something" that it had not been released until now. So, I asked a tax accountant to see it, and asked me to identify what was wrong.

The appraisal result of attention is as follows.
Data on financial situation is published on the following page.

B-CAS * Company Profile *
http://www.b-cas.co.jp/company.html

Whether you do not want to be copied or caught on the search of the Internet, the data are all image files ... .... Although there is also a PDF version, it can not be searched again, with a handmade specification just pasting the captured image.

The published data is the last five terms, and the latest 9th termNet sales were 9,869 million yen, net income was 313 million yenAlthough the details such as remuneration for officers are unknown, it seems that the actual condition of B - CAS company which is not an overstatement at least has been completely wrapped in a mystery until now revealed a little bit.

So when I got a tax accountant to look at it, I understood the following things.

· Discomfort in the contents of "inventory assets"
"Stock inventory" in the current assets of "asset department" corresponds to "stock" in general corporations, but if the details of the work are thoroughly completed, it is "issuance of B-CAS card" and the B-CAS card is I am not "selling" to individuals but "renting" it. That means that this "inventory" should be a "B-CAS card" to rent it, but the number is rapidly increasing at the stage from the 8th to the 9th stage. It is too funny to think that it is the inventory of "B-CAS card", so I feel a sense of incongruity in the contents of this "inventory asset".

· "Cost of sales" can not be convinced
Looking at the flow of "sales" and "cost of sales" in the income statement looks like a retail business. In other words, the profit will increase as the number of B-CAS cards increases. However, the work content is too unclear, and the profit margin is decreasing in the ninth period compared with the eighth period. In terms of the business of B-CAS, it is obvious that the gross profit will decline as "the unit price will decrease" as the number of cards issued increases. I can think only that there was something, but I do not know because details are unknown.

· It is strange that "gross margin" is decreasing
Although it overlaps with the previous time, it is strange that the "gross margin" in the income statement has decreased. If you make cards yourself, the more you make it, the lower your unit profit is, the lower the total profit is. Gross profit does not include personnel expenses, electricity bills and other such expenses, and it is gross margin. Despite this, despite a decrease in gross profit, it is said that purchasing or outsourcing has increased as a possible reason, but the reason why the increase is still unclear is still unknown.

· Cost of B-CAS card
Although it may be considered that the cost of the B - CAS card has risen, I do not think that he has developed a completely new card as a "new product" and did not make a major change in design, so the reason for the cost increase of the B - CAS card unknown. Even if you outsource a system etc, the increase so far is a bit strange.

· B-CAS company may be just "tunnel company", there may be some companies making further profits behind
Although it is an impression to the last, there is a possibility that B - CAS company is "tunnel company". In other words, it is possible that the biggest profit is raised by a business company making a B-CAS card or a business company making a chip etc. necessary for a B-CAS card. Considering from the mechanism of the B - CAS card, the cost is reasonably cheap, and clearly the cost of the card is too expensive from the public financial situation being disclosed. Is not B-CAS company doing the most profit, not a company making cards?

· Requires a list of business partners
A list of business partners, not affiliated subsidiaries to be disclosed in the future. It turns out where it is profitable, knowing the business partner company.

· Detailed contents of account statement
NHK and BS Japan, WOWOW, Matsushita etc, which are the major shareholders of B - CAS, should have the detailed contents of the financial statements, so if someone does not wait for the contents to be made public, it is not realistic.

In addition, last time, "I went to a mysterious private corporation "B-CAS company" which damages the convenience of terrestrial digital broadcasting and hinders popularization"After publishing the article, there are many stations, some of which are highly credible, so it is currently underway. It is clearly said that the actual situation is almost unimaginable.

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