Profitability

Fiscal Year |
2016/3 |
2017/3 |
2018/3 |
2019/3 |
2020/3 |
Net Sales |
47,004
| 40,714
| 34,093
| 31,166
| 32,922 |
Operation Income |
-894
| 1,048
| 1,192
| 1,527
| 1,431 |
Operation Income to Net Sales |
-1.9
| 2.6
| 3.5
| 4.9
| 4.3 |
Ordinary Income |
-749
| 1,374
| 1,390
| 1,748
| 1,674 |
Ordinary Income to Net Sales |
-1.6
| 3.4
| 4.1
| 5.6
| 5.1 |
Net Income |
-1,676
| 502
| 785
| 1,263
| 1,061 |
Net Income to Net Sales |
-3.6
| 1.2
| 2.3
| 4.1
| 3.2 |
Total Assets |
47,139
| 46,828
| 43,564
| 43,729
| 42,702 |
Net Assets |
29,291
| 29,151
| 29,251
| 29,898
| 30,406 |
ROE |
-5.5
| 1.7
| 2.7
| 4.3
| 3.5 |
ROA |
-3.3
| 1.1
| 1.7
| 2.9
| 2.5 |
Stability

Fiscal Year |
2016/3 |
2017/3 |
2018/3 |
2019/3 |
2020/3 |
Current Ratio |
174.1
| 177.8
| 201.2
| 213.9
| 235.4 |
Quick Ratio |
112.8
| 129.7
| 152.3
| 163.4
| 189.0 |
Fixed Assets Ratio |
61.8
| 60.0
| 58.1
| 58.0
| 54.1 |
Fixed Assets to Long-Term Capital Ratio |
59.4
| 57.7
| 56.0
| 55.2
| 52.1 |
Interest-Bearing Dept |
5,500
| 3,300
| 3,300
| 3,300
| 3,300 |
Dept Equity Ratio |
18.8
| 11.3
| 11.3
| 11.0
| 10.9 |
On-Hand Liquidity Ratio |
2.4
| 4.1
| 4.9
| 4.9
| 5.6 |
Interest Coverage Ratio |
–
| 667.8
| 299.6
| 161.2
| 423.0 |
Cost of Dept |
10.3
| 14.0
| 10.0
| 11.2
| 11.6 |
Equity Ratio |
62.1
| 62.3
| 67.1
| 68.4
| 71.2 |
Productivity and Efficiency

Fiscal Year |
2016/3 |
2017/3 |
2018/3 |
2019/3 |
2020/3 |
Total Assets Turnover |
1.0
| 0.9
| 0.8
| 0.7
| 0.8 |
Tangible Fixed Assets Turnover |
4.6
| 4.1
| 3.5
| 3.2
| 3.6 |
Inventory Turnover |
5.0
| 5.2
| 5.5
| 5.8
| 7.0 |
Net Sales per Employee |
73.3
| 60.9
| 53.7
| 49.1
| 51.4 |
Net Income per Employee |
-2.6
| 0.8
| 1.2
| 2.0
| 1.7 |
Receivables Turnover |
4.4
| 4.9
| 5.0
| 4.6
| 5.1 |
Payables Turnover |
3.1
| 3.5
| 3.0
| 3.2
| 4.0 |
Cash Flows

Fiscal Year |
2016/3 |
2017/3 |
2018/3 |
2019/3 |
2020/3 |
Cash Flows from Operating Activities |
-4,710
| 9,339
| 2,921
| 1,875
| 5,006 |
Cash Flows from Investing Activities |
-2,511
| -1,696
| -2,411
| -2,364
| -1,688 |
Cash Flows from Financing Activities |
4,065
| -2,938
| -739
| -592
| -591 |
Cash and Cash Equivalents at End of Year |
9,358
| 14,062
| 13,832
| 12,751
| 15,478 |
Free Cash Flow |
-7,221
| 7,643
| 510
| -489
| 3,318 |
Capital Expenditures |
2,451
| 2,616
| 1,950
| 2,283
| 1,553 |
Depreciation and Amortization |
1,579
| 1,914
| 2,085
| 1,742
| 2,212 |
Research and Development Cost |
5,330
| 3,060
| 1,578
| 1,206
| 1,170 |
Ratio of R&D to Sales |
11.3
| 7.5
| 4.6
| 3.9
| 3.6 |
Per Share Data and Others

Fiscal Year |
2016/3 |
2017/3 |
2018/3 |
2019/3 |
2020/3 |
Net Income per Share |
-113.4
| 34.0
| 53.1
| 85.5
| 71.8 |
Cash Dividends per Share |
50
| 50
| 40
| 40
| 40 |
Dividend Payout Ratio |
–
| 147.0
| 75.3
| 46.8
| 55.7 |
Cash Flows per Share |
-6.6
| 163.5
| 194.1
| 203.3
| 221.4 |
Net Assets per Share |
1,981.4
| 1,972.0
| 1,978.7
| 2,022.5
| 2,056.8 |
PER |
-11.6
| 48.9
| 33.2
| 18.0
| 17.1 |
PBR |
0.66
| 0.84
| 0.89
| 0.76
| 0.60 |
The cash dividend per share and the dividend payout ratio are stated on a non-consolidated basis.

Fiscal Year |
2016/3 |
2017/3 |
2018/3 |
2019/3 |
2020/3 |
Breakeven Point |
49,405
| 38,042
| 31,276
| 27,604
| 29,577 |
Marginal Income Ratio |
37.3
| 39.2
| 42.3
| 42.9
| 42.8 |
Ratio of the Breakeven Point to Sales |
105.1
| 93.4
| 91.7
| 88.6
| 89.8 |
Average Age of Employees |
43.9
| 44.1
| 44.5
| 45.2
| 45.6 |
Labor Productivity |
10
| 12
| 13
| 14
| 15 |
Labor’s Relative Share |
79.1
| 62.7
| 63.2
| 57.4
| 54.8 |