SEGA by themselves would be in a worse condition than either of those companies, yes. However they are part of the SEGA Sammy group and are much stronger than either company, they hold about $2 billion cash reserves vs $750 mil debt.
Fair enough. I agree with that.
I don't think SEGA are in a bad situation, but I wouldn't say they are as influential as some may think in the Gaming Industry....it's a sad state of affairs when Konami makes MGS and Castlevania and it makes more then Sonic (or even SMB). Level 5 aren't exactly rich, but I know many people who know of their games, particularly Ilzuma Eleven and Professor Layton.
Fairly sure Sega is the largest Japanese third party company.
Nope, Namco (or Scamco..take your pick), is the largest third party japanese company...SEGA is fourth iirc.