Major Consolidated Index
Consolidated Results
Unit : millions of yen
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| 2017.3 Actual |
2018.3 Actual |
2019.3 Actual |
2020.3 Actual |
2021.3 Forecast |
|
|---|---|---|---|---|---|
| Net Sales | 402,174 | 430,602 | 453,565 | 468,616 | 463,800 |
| Operating Profit | 32,842 | 36,502 | 38,417 | 39,826 | 39,500 |
| Ordinary Profit | 32,037 | 35,985 | 37,925 | 39,078 | 39,100 |
| Profit Attributable to Owners of Parent | 23,810 | 23,846 | 25,992 | 26,595 | 26,600 |
| Net Sales YoY Change (%) | (1.5) | 7.1 | 5.3 | 3.3 | △ 1.0 |
| Operating Profit YoY Change (%) | 0.7 | 11.1 | 5.2 | 3.7 | △ 0.8 |
| Ordinary Profit YoY Change (%) | 3.2 | 12.3 | 5.4 | 3.0 | 0.1 |
| Profit Attributable to Owners of Parent YoY Change (%) | 19.3 | 0.1 | 9.0 | 2.3 | 0.0 |
| Operating Profit Margin (%) | 8.2 | 8.5 | 8.5 | 8.5 | 8.5 |
| Ordinary Profit Margin (%) | 8.0 | 8.4 | 8.4 | 8.3 | 8.4 |
| Ratio of Profit Attributable to Owners of Parent to Net Sales | 5.9 | 5.5 | 5.7 | 5.7 | 5.7 |
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Net sales do not include consumption and other taxes.
Financial Position
Unit : millions of yen
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| 2017.3 Actual |
2018.3 Actual |
2019.3 Actual |
2020.3 Actual |
2021.3 Forecast |
|
|---|---|---|---|---|---|
| Total Net Assets | 244,437 | 253,289 | 270,451 | 277,757 | － |
| Shareholders' Equity | 240,009 | 248,072 | 265,428 | 272,434 | － |
| Total Assets | 361,248 | 343,929 | 362,119 | 387,329 | － |
| Shareholders' Equity Ratio (%) | 66.4 | 72.1 | 73.3 | 70.3 | － |
| D/E Ratio (%) | 21.1 | 8.6 | 8.2 | 8.1 | － |
| Dividend on Equity (%) | 2.8 | 3.1 | 3.1 | 3.0 | － |
| ROE (%) | 10.3 | 9.8 | 10.1 | 9.9 | － |
| Ordinary Profit to Total Assets (%) | 8.8 | 10.2 | 10.7 | 10.4 | － |
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Shareholders' equity is computed by subtracting stock acquisition rights and Non-controlling 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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| 2017.3 Actual |
2018.3 Actual |
2019.3 Actual |
2020.3 Actual |
2021.3 Forecast |
|
|---|---|---|---|---|---|
| Cash Flows From Operating Activities | 26,136 | 37,645 | 37,023 | 39,654 | - |
| Cash Flows From Investing Activities | 13,235 | (14,640) | (25,698) | (29,229) | - |
| Cash Flows From Financing Activities | (30,359) | (43,968) | (7,041) | (9,146) | - |
| Term-end Cash and Cash Equivalents | 44,205 | 22,785 | 27,509 | 28,103 | - |
| Free Cash Flows | 14,536 | 22,063 | 10,300 | 13,816 | - |
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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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| 2017.3 Actual |
2018.3 Actual |
2019.3 Actual |
2020.3 Actual |
2021.3 Forecast |
|
|---|---|---|---|---|---|
| Shareholders' Equity per Share | 1,242.71 | 1,292.18 | 1,382.60 | 1,419.12 | － |
| Earnings per Share | 123.28 | 123.71 | 135.39 | 138.53 | 138.56 |
| Diluted Earnings per Share | － | － | － | － | － | Cash Dividends per Share | 34 | 39 | 41 | 42 | 42 |
| Dividend Payout Ratio(Consolidated) (%) | 27.6 | 31.5 | 30.3 | 30.3 | 30.3 |
| Free Cash Flows per Share | 75.26 | 114.46 | 53.65 | 71.97 | － |
| Share Price as of Term-end | 3,325 | 4,280 | 5,430 | 4,605 | － |
| PER (Times) | 27.0 | 34.6 | 40.1 | 33.2 | － |
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Other Information
Unit : millions of yen
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| 2017.3 Actual |
2018.3 Actual |
2019.3 Actual |
2020.3 Actual |
2021.3 Forecast |
|
|---|---|---|---|---|---|
| Interest-bearing Debt | 50,570 | 21,322 | 21,742 | 22,154 | － |
| Capital Expenditures | 12,165 | 18,180 | 28,346 | 27,464 | 16,400 |
| Depreciation and Amortization | 12,339 | 13,159 | 13,258 | 16,787 | 17,600 |
| R&D Costs | 3,943 | 3,772 | 3,816 | 4,373 | － |
| Net Financial Income (Loss) | 754 | 940 | 1,232 | 772 | － |
| Average Term Exchange Rate (yen/US$) | 109.03 | 110.81 | 110.69 | 109.10 | 105.44 |
| No. of Employees (people) | 6,771 | 7,105 | 7,100 | 7,376 | － |
| No.of Shares Issued and Outstanding at Term-end (Thousand) | 193,133 | 191,980 | 191,977 | 191,974 | － |
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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.
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Effective from the beginning of fiscal year ended March 31, 2019, “Partial Amendments to Accounting Standard for Tax Effect Accounting” are applied. The results for the fiscal year ended 2018.3 are based on figures recalculated after retroactively adopting the said accounting standards.
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Effective from the beginning of fiscal year ending March 31, 2020, overseas subsidiaries applied IFRS 16 “Leases” and ASU 2016-02 and recorded all leases on balance sheets, in principle. For the results for the year ended March 31, 2020, these accounting standards are applied to the figures.
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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 for years prior to listed above, please refer to our Factbook.
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