Major Consolidated Index

Consolidated Results

Unit : millions of yen

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  2015.3
Actual
2016.3
Actual
2017.3
Actual
2018.3
Actual
2019.3
Forecast
Net Sales 371,339 408,372 402,174 430,602 442,000
Operating Income 25,370 32,598 32,842 36,502 37,600
Ordinary Income 24,364 31,029 32,037 35,985 36,200
Net Income Attributable to Owners of Parent 15,382 19,964 23,810 23,846 25,500
Net Sales YoY Change (%) 8.2 10.0 (1.5) 7.1 2.6
Operating Income YoY Change (%) 6.4 28.5 0.7 11.1 3.0
Ordinary Income YoY Change (%) 7.4 27.4 3.2 12.3 0.6
Net Income Attributable to Owners of Parent YoY Change (%) 22.5 29.8 19.3 0.1 6.9
Operating Income Ratio to Net Sales (%) 6.8 8.0 8.2 8.5 8.5
Ordinary Income Ratio to Net Sales (%) 6.6 7.6 8.0 8.4 8.2
Ratio of Net Income Attributable to Owners of Parent to Net Sales 4.1 4.9 5.9 5.5 5.8

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Net sales do not include consumption and other taxes.

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The Net Income Attributable to Owners of Parent and the Ratio of Net Income Attributable to Owners of Parent to Net Sales for 2015.3 Actual were previously presented as Net Income and Net Income Ratio to Net Sales, respectively.

Financial Position

Unit : millions of yen

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  2015.3
Actual
2016.3
Actual
2017.3
Actual
2018.3
Actual
2019.3
Forecast
Total Net Assets 238,431 225,675 244,437 253,289
Shareholders' Equity 236,508 223,684 240,009 248,072
Total Assets 378,766 365,671 361,248 346,921
Shareholders' Equity Ratio (%) 62.4 61.2 66.4 71.5
D/E Ratio (%) 31.0 31.6 21.1 8.6
Dividend on Equity (%) 2.1 2.7 2.8 3.1
ROE (%) 6.9 8.7 10.3 9.8
Ordinary Income to Total Assets (%) 6.7 8.3 8.8 10.2

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Shareholders' equity is computed by subtracting stock acquisition rights and minority interests from net assets.

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D/E ratio = (Loans + Bonds) / Shareholders' equity

Cash Flows

Unit : millions of yen

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  2015.3
Actual
2016.3
Actual
2017.3
Actual
2018.3
Actual
2019.3
Forecast
Cash Flows From Operating Activities 31,658 37,661 26,136 37,645
Cash Flows From Investing Activities (5,041) (15,855) 13,235 (14,640)
Cash Flows From Financing Activities (21,566) (17,801) (30,359) (43,968)
Term-end Cash and Cash Equivalents 32,398 35,150 44,205 22,785
Free Cash Flows 19,151 24,132 14,536 22,063

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Free cash flows = Cash flows from operating activities - Purchase of property, plant, equipment and intangible assets + Proceeds from sales of property, plant, equipment

Per Share Value Indicators

Unit : yen

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  2015.3
Actual
2016.3
Actual
2017.3
Actual
2018.3
Actual
2019.3
Forecast
Shareholders' Equity per Share 1,210.77 1,160.05 1,242.71 1292.18
Net Income per Share 78.20 102.67 123.28 123.71 132.83
Diluted Net Income per Share 78.19
Cash Dividends per Share 24 32 34 39 40
Dividend Payout Ratio(Consolidated) (%) 30.7 31.2 27.6 31.5 30.1
Free Cash Flows per Share 97.36 124.10 75.26 114.46
Share Price as of Term-end 3,815 3,700 3,325 4,280
PER (Times) 48.8 36.0 27.0 34.6

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Other Information

Unit : millions of yen

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  2015.3
Actual
2016.3
Actual
2017.3
Actual
2018.3
Actual
2019.3
Forecast
Interest-bearing Debt 73,299 70,610 50,570 21,322
Capital Expenditures 13,087 14,795 12,165 18,180 29,100
(For Property, Plant and Equipment) 11,761 13,464 11,362 17,350 27,800
Depreciation and Amortization 12,901 11,936 12,339 13,159 13,300
(On Property, Plant and Equipment) 12,026 10,967 11,304 12,097 12,300
R&D Costs 3,598 3,662 3,943 3,772
Net Financial Income (Loss) (238) (186) 754 940
Average Term Exchange Rate (yen/US$) 110.03 120.16 109.03 110.81 105.00
No. of Employees (people) 5,912 5,933 6,771 7,105
No.of Shares Issued and Outstanding at Term-end (Thousand) 195,336 192,822 193,133 191,980

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Interest-bearing debt refers to all liabilities on the consolidated balance sheet on which interest is paid.

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Net financial income = Interest and dividend income Interest expense

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No. of shares issued and outstanding at term-end is computed by subtracting shareholders' equity.

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Depreciation and Amortization do not include the amortization of goodwill.

Note

  • Forecasts are based on information available to management at the time of announcement.
    Due to a number of inherent uncertainties in forecasts, actual results may differ materially from forecasts.

As for the data before 2014.3 actual, you can see our factbook

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