Consolidated Statements of Income

in Million Yen or %, Japan GAAP 2017/03 2018/03 2019/03 2020/03
Net Sales 77,792 88,194 101,520 87,927
 Costs of goods sold 48,152 53,818 60,430 53,452
Gross Profit on Sales 29,640 34,375 41,090 34,474
 Selling, general and administrative expenses 15,981 17,092 20,869 22,192
Operating Profit 13,659 17,283 20,221 12,282
(Operating Profit Margin) 17.6% 19.6% 19.9% 14.0%
 Non-operating income 318 170 688 255
 Non-operating expenses 112 138 104 177
Recurring Profit 13,864 17,316 20,805 12,360
(Recurring Profit Margin) 17.8% 19.6% 20.5% 14.1%
 Extraordinary gains 583 4 58 57
Extraordinary losses 32 2 419 1,712
Pre-tax Profit 14,415 17,318 20443 10,705
Total income tax and others 4,464 4,542 5,719 3,598
Net Profit before minority interests 9,951 12,775 14,724 7,106
(Net Profit Margin) 12.8% 14.5% 14.5% 8.1%
Net Profit attributable to minority interests 41 58 58 -49
Net Profit attributable to owners of the parent 9,909 12,717 14,665 7,156

Consolidated Balance Sheet

in Million Yen or %, Japan GAAP 2017/03 2018/03 2019/03 2020/03
ASSETS
 Current Assets 82,792 94,990 110,094 97,771
 Fixed Assets 31,670 37,902 47,478 48,777
 Total Assets 114,463 132,893 157,573 146,549
LIABILITIES
 Current Liabilities 26,570 32,807 40,948 29,017
 Fixed Liabilities 698 731 9,220 7,857
 Total Liabilities 27,269 33,538 50,169 36,874
NET ASSETS
 Shareholder’s Equity 84,491 94,128 104,280 107,334
 Accumulated other comprehensive income 1,885 4,234 1,751 1,022
 Others 816 991 1,361 1,317
 Total Net Assets 87,194 99,354 107,403 109,674
Total Liabilities and Net Assets 114,463 132,995 157,573 146,549
(Equity Ratio) 75.5% 74.0% 67.3% 73.9%
(Return on Equity) 12.0% 13.8% 14.4% 6.7%

Consolidated Statements of Cash Flows

in Million Yen or %, Japan GAAP 2017/03 2018/03 2019/03 2020/03
From Operating Activities 12,809 10,931 12,932 5,965
From Investing Activities -3,486 -4,649 -13,952 -6,116
From Financing Activities -2,953 -3,163 5,443 -6,375

R&D, Capex and Depreciation

in Million Yen 2017/03 2018/03 2019/03 2020/03
R&D Expenditure 6,791 7,194 7,500 8,234
Capital Expenditure 4,145 3,547 13,900 7,477
Depreciation and Amortization 2,380 2,541 2,655 3,450
Amortization of Goodwill 102 102 226 41