Investor Relations

Financial Outline

Profitability

Profitability

Fiscal Year 2013/3 2014/3 2015/3 2016/3 2017/3
Net Sales 58,861 56,954 54,043 47,004 40,714
Operation Income 7,023 5,338 1,425 -894 1,048
Operation Income to Net Sales 11.9 9.4 2.6 -1.9 2.6
Ordinary Income 7,244 5,474 1,566 -749 1,374
Ordinary Income to Net Sales 12.3 9.6 2.9 -1.6 3.4
Net Income 4,161 3,278 874 -1,676 502
Net Income to Net Sales 7.1 5.8 1.6 -3.6 1.2
Total Assets 56,706 53,929 53,528 47,139 46,828
Net Assets 30,439 32,260 32,138 29,291 29,151
ROE 14.5 10.5 2.7 -5.5 1.7
ROA 7.9 5.9 1.6 -3.3 1.1

Stability

Stability

Fiscal Year 2013/3 2014/3 2015/3 2016/3 2017/3
Current Ratio 162.1 183.8 175.5 177.4 181.1
Quick Ratio 122.4 133.0 123.4 112.8 129.7
Fixed Assets Ratio 55.6 52.3 54.7 59.9 58.1
Fixed Assets to Long-Term Capital Ratio 52.6 50.0 53.2 57.6 55.9
Interest-Bearing Dept 1,270 800 400 5,500 3,300
Dept Equity Ratio 4.2 2.5 1.2 18.8 11.3
On-Hand Liquidity Ratio 3.8 3.2 2.9 2.4 4.1
Interest Coverage Ratio 523.7 47.2 144.7 667.8
Cost of Dept 18 6 6 10 14
Equity Ratio 53.7 59.8 60.0 62.1 62.3

Productivity and Efficiency

Productivity and Efficiency

Fiscal Year 2013/3 2014/3 2015/3 2016/3 2017/3
Total Assets Turnover 1.0 1.1 1.0 1.0 0.9
Tangible Fixed Assets Turnover 6.2 6.0 5.4 4.6 4.1
Inventory Turnover 8.0 6.5 5.8 5.0 9.1
Net Sales per Employee 97.6 94.6 87.9 73.3 60.9
Net Income per Employee 6.9 5.4 1.4 -2.6 0.8
Receivables Turnover 5.9 5.0 4.6 4.4 4.9
Payables Turnover 2.8 2.3 2.6 3.1 3.5

Cash Flows

Cash Flows

Fiscal Year 2013/3 2014/3 2015/3 2016/3 2017/3
Cash Flows from Operating Activities 9,600 340 817 -4,710 9,339
Cash Flows from Investing Activities 2,153 -1,655 -2,142 -2,511 -1,696
Cash Flows from Financing Activities -7,003 -1,809 -1,441 4,065 -2,938
Cash and Cash Equivalents at End of Year 18,406 15,281 12,515 9,358 14,062
Free Cash Flow 11,753 -1,315 -1,325 -7,221 7,643
Capital Expenditures 909 910 1,345 2,451 2,616
Depreciation and Amortization 1,602 1,613 1,569 1,579 1,914
Research and Development Cost 2,720 3,656 3,834 5,330 3,060
Ratio of R&D to Sales 4.6 6.4 7.1 11.3 7.5

Per Share Data and Others

Per Share Data and Others

Fiscal Year 2013/3 2014/3 2015/3 2016/3 2017/3
Net Income per Share 281.5 221.8 59.2 -113.4 34.0
Cash Dividends per Share 90 80 70 50 50
Dividend Payout Ratio 32.0 36.1 118.3 147.0
Cash Flows per Share 389.9 330.9 165.3 -6.6 163.5
Net Assets per Share 2,059.0 2,182.2 2,174.0 1,981.4 1,972.0
PER 9.0 10.1 29.3 -11.6 48.9
PBR 1.23 1.02 0.80 0.66 0.84

The cash dividend per share and the dividend payout ratio are stated on a non-consolidated basis.

Per Share Data and Others

Fiscal Year 2013/3 2014/3 2015/3 2016/3 2017/3
Breakeven Point 38,464 41,880 49,705 49,405 38,042
Marginal Income Ratio 34.4 35.4 32.9 37.3 39.2
Ratio of the Breakeven Point to Sales 65.3 73.5 92.0 105.1 93.4
Average Age of Employees 43.3 43.4 43.4 43.9 44.1
Labor Productivity 23 21 14 10 12
Labor’s Relative Share 36.6 42.0 60.5 79.1 62.7