Consolidated Statements of Income

in Million Yen or %, Japan GAAP 2016/03 2017/03 2018/03 2019/03
Net Sales 70,274 77,792 88,194 101,520
　Costs of goods sold 42,185 48,152 53,818 60,430
Gross Profit on Sales 28,089 29,640 34,375 41,090
　Selling, general and administrative expenses 14,867 15,981 17,092 20,869
Operating Profit 13,222 13,659 17,283 20,221
(Operating Profit Margin) 18.8% 17.6% 19.6% 19.9%
　Non-operating income 243 318 170 688
　Non-operating expenses 232 112 138 104
Recurring Profit 13,232 13,864 17,316 20,805
(Recurring Profit Margin) 18.8% 17.8% 19.6% 20.5%
　Extraordinary gains 8 583 4 58
Extraordinary losses 0 32 2 419
Pre-tax Profit 13,240 14,415 17,318 20443
Total income tax and others 3,484 4,464 4,542 5,719
Net Profit before minority interests 9,756 9,951 12,775 14,724
(Net Profit Margin) 13.9% 12.8% 14.5% 14.5%
Net Profit attributable to minority interests 52 41 58 58
Net Profit attributable to owners of the parent 9,704 9,909 12,717 14,665

Consolidated Balance Sheet

in Million Yen or %, Japan GAAP 2016/03 2017/03 2018/03 2019/03
ASSETS
　Current Assets 72,710 82,792 94,990 110,094
　Fixed Assets 29,223 31,670 37,902 47,478
　Total Assets 101,933 114,463 132,893 157,573
LIABILITIES
　Current Liabilities 21,416 26,570 32,807 40,948
　Fixed Liabilities 1,099 698 731 9,220
　Total Liabilities 22,515 27,269 33,538 50,169
NET ASSETS
　Shareholder’s Equity 77,282 84,491 94,128 104,280
　Accumulated other comprehensive income 1,491 1,885 4,234 1,751
　Others 645 816 991 1,361
　Total Net Assets 79,418 87,194 99,354 107,403
Total Liabilities and Net Assets 101,933 114,463 132,995 157,573
(Equity Ratio) 77.3% 75.5% 74.0% 67.3%
(Return on Equity) 12.7% 12.0% 13.8% 14.4%

Consolidated Statements of Cash Flows

in Million Yen or %, Japan GAAP 2016/03 2017/03 2018/03 2019/03
From Operating Activities 7,210 12,809 10,931 12,932
From Investing Activities -3,823 -3,486 -4,649 -13,952
From Financing Activities -2,851 -2,953 -3,163 5,443

R&D, Capex and Depreciation

in Million Yen 2016/03 2017/03 2018/03 2019/03
R&D Expenditure 6,292 6,791 7,194 7,500
Capital Expenditure 3,795 4,145 3,547 13,900
Depreciation and Amortization 2,012 2,380 2,541 2,655
Amortization of Goodwill 261 102 102 226