Consolidated Statements of Income

in Million Yen or %, Japan GAAP 2018/03 2019/03 2020/03 2021/03
Net Sales 88,194 101,520 87,927 97,105
 Costs of goods sold 53,818 60,430 53,452 60,190
Gross Profit on Sales 34,375 41,090 34,474 36,914
 Selling, general and administrative expenses 17,092 20,869 22,192 21,351
Operating Profit 17,283 20,221 12,282 15,562
(Operating Profit Margin) 19.6% 19.9% 14.0% 16.0%
 Non-operating income 170 688 255 540
 Non-operating expenses 138 104 177 235
Recurring Profit 17,316 20,805 12,360 15,867
(Recurring Profit Margin) 19.6% 20.5% 14.1% 16.3%
 Extraordinary gains 4 58 57 1,354
Extraordinary losses 2 419 1,712 1,074
Pre-tax Profit 17,318 20443 10,705 16,147
Total income tax and others 4,542 5,719 3,598 3,978
Net Profit before minority interests 12,775 14,724 7,106 12,169
(Net Profit Margin) 14.5% 14.5% 8.1% 12.5%
Net Profit attributable to minority interests 58 58 -49 -6
Net Profit attributable to owners of the parent 12,717 14,665 7,156 12,175

Consolidated Balance Sheet

in Million Yen or %, Japan GAAP 2018/03 2019/03 2020/03 2021/03
ASSETS
 Current Assets 94,990 110,094 97,771 111,516
 Fixed Assets 37,902 47,478 48,777 50,039
 Total Assets 132,893 157,573 146,549 161,556
LIABILITIES
 Current Liabilities 32,807 40,948 29,017 39,296
 Fixed Liabilities 731 9,220 7,857 5,482
 Total Liabilities 33,538 50,169 36,874 44,778
NET ASSETS
 Shareholder’s Equity 94,128 104,280 107,334 113,487
 Accumulated other comprehensive income 4,234 1,751 1,022 1,881
 Others 991 1,361 1,317 1,408
 Total Net Assets 99,354 107,403 109,674 116,777
Total Liabilities and Net Assets 132,995 157,573 146,549 161,556
(Equity Ratio) 74.0% 67.3% 73.9% 71.4%
(Return on Equity) 13.8% 14.4% 6.7% 10.9%

Consolidated Statements of Cash Flows

in Million Yen or %, Japan GAAP 2018/03 2019/03 2020/03 2021/03
From Operating Activities 10,931 12,932 5,965 22,062
From Investing Activities -4,649 -13,952 -6,116 -5,191
From Financing Activities -3,163 5,443 -6,375 -8,282

R&D, Capex and Depreciation

in Million Yen 2018/03 2019/03 2020/03 2021/03
R&D Expenditure 7,194 7,500 8,234 7,193
Capital Expenditure 3,547 13,900 7,477 5,950
Depreciation and Amortization 2,541 2,655 3,450 3,516
Amortization of Goodwill 102 226 41 28