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Investor Relations
Investor Relations

Japanese

Consolidated Financial Summary

Net Sales
Operating Profit / Operating income ratio
Net income/Return on sales
Return on equity (ROE)
Total assets / Shareholders' equity ratio
Interest-bearing debt / Debt, Equity ratio

Main Consolidated Financial Indicators

million yen FY2006 FY2007 FY2008 FY2009 FY2010
Net sales, operating income and net income (loss)
Net sales 1,158,510 1,216,572 1,190,371 1,170,876 1,207,695
Operating income 63,800 60,523 40,827 64,034 69,374
Net income (loss) 30,229 28,229 (10,227) 16,646 30,400
Profitability ratios
Operating income ratio (%)*1 5.5 5.0 3.4 5.5 5.7
Return on sales (%)*2 2.6 2.3 (0.9) 1.4 2.5
Gross profit margin (%)*3 28.5 29.6 30.0 32.9 33.4
SGA ratio (%)*4 23.0 24.6 26.6 27.4 27.6
Total assets, total shareholders’ equity and interest-bearing debt
Total assets 1,061,688 1,100,709 1,057,786 1,082,238 1,077,418
Total shareholders' equity 563,446 628,325 585,234 602,769 608,191
Interest-bearing debt 151,223 144,328 149,402 147,902 133,391
Shareholders' equity ratio (%)*5 53.1 57.1 55.3 55.7 56.4
Debt/Equity ratio (%)*6 26.8 23.0 25.5 24.5 21.9
Return indicators
Return on equity (ROE) (%)*7 5.5 4.7 (1.7) 2.8 5.0
Return on total assets (ROA) (%)*8 2.9 2.6 (0.9) 1.6 2.8
Per share value indicators
Net income per share (¥) 46.7 41.9 (14.6) 23.9 43.6
Book value per share (BPS) (¥) 870.0 899.4 838.5 863.7 871.6
Cash flow per share (CFPS) (¥)*9 116.1 121.9 60.1 103.3 106.6

*1-9: See accompanying notes below.
Note: Total shareholders’ equity for the fiscal years from the year ended March 31, 2007 on this page is net assets minus minority interests, and the related indicators are calculated using this total shareholders’ equity.

FY2006 FY2007 FY2008 FY2009 FY2010
Efficiency indicators
Asset turnover (times)*10 1.13 1.13 1.10 1.09 1.12
Inventory turnover (times)*11 10.0 9.4 8.4 8.0 8.6
Inventory turnover (days)*12 36.4 38.7 43.4 45.8 42.6
Liquidity indicators
Debt/Cash flow ratio (%)*13 50.9 57.7 28.7 48.9 53.1
Interest coverage ratio (times)*14 13.3 13.3 9.0 19.1 29.3
Current ratio (%)*15 172.7 180.0 204.3 213.5 236.5
Investment ratios
Price/Earnings ratio — PER (times) 29.0 24.1 - 38.8 19.9
Price/Book value ratio — PBR (times) 1.6 1.1 0.8 1.1 1.0
Price/Cash flow ratio — PCFR (times) 11.7 8.3 11.6 8.9 8.1
Dividends and payout ratio
Dividends per share (¥) 15.0 16.0 16.0 16.0 16.0
Payout ratio (%)*16 32.1 38.1 - 67.1 36.7
Value indicators
Free cash flow (million yen)*17 7,852 23,143 (10,788) 42,597 66,833
*10-17: See notes below.
■Methods of Calculating Main Financial Indicators
  1. Operating income ratio = Operating income/Net sales
  2. Return on sales = Net income/Net sales
  3. Gross profit margin = Gross profit/Net sales
  4. SGA ratio = Selling, general and administrative expenses/Net sales
  5. Shareholders’ equity ratio = Total shareholders’ equity/Total assets
  6. Debt/Equity ratio = Interest-bearing debt/Shareholders’ equity
  7. ROE = Net income/Average shareholders’ equity
  8. ROA = Net income/Average total assets
  9. CFPS = (Net income + Depreciation and amortization + Deferred income tax)/Outstanding shares
  10. Asset turnover = Net sales/Average total assets
  11. Inventory turnover = Net sales/Average inventory
  12. Number of days of inventory held = 365/Inventory turnover
  13. Debt/Cash flow ratio = (Net income + Depreciation and amortization + Deferred income tax)/Average interest-bearing debt
  14. Interest coverage ratio = (Operating income + Interest and dividend income)/Interest expense
  15. Current ratio = Current assets/Current liabilities
  16. Payout ratio = Dividends paid/Net income
  17. Free cash flow = Net cash provided by operating activities-Net cash used in investing activities
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