Financial Data

Financial highlights

Consolidated 43rd 44th 45th 46th 47th 48th
2012/3 2013/3 2014/3 2015/3 2016/3 2017/3
Sales
(Million yen)
1st Half 3,296 3,191 3,761 4,500 4,454 4,520
Full year 6,286 6,703 8,003 9,057 9,078 9,259
Operating income
(Million yen)
1st Half 474 390 600 1,054 989 1,021
Full year 733 917 1,421 2,008 2,185 1,887
Ordinary income
(Million yen)
1st Half 414 369 677 1,092 1,007 964
Full year 686 956 1,551 2,129 2,207 1,888
Net income
(Million yen)
1st Half -19 265 450 711 703 813
Full year 58 626 925 1,344 1,514 1,642
Net assets per share Yen 2.94 31.24 46.09 66.98 76.26 84.86
Net assets Million yen 7,726 8,669 10,265 12,039 12,250 13,110
Net assets per share Yen 384.95 431.94 511.44 599.85 632.41 683.86
]
Non-consolidated 43rd 44th 45th 46th 47th 48th
2012/3 2013/3 2014/3 2015/3 2016/3 2017/3
Sales
(Million yen)
1st Half 2,226 2,294 2,689 3,181 3,0593,092
Full year 4,340 4,976 5,811 6,274 6,309 6,444
Operating income
(Million yen)
1st Half 47 120 380 669 623 665
Full year 47 511 1,014 1,259 1,451 1,209
Ordinary income
(Million yen)
1st Half -25 88 417 699 626 593
Full year 1,512 920 1,367 1,873 1,730 1,867
Net income
(Million yen)
1st Half -351 -108 306 513 466 462
Full year 1,052 495 936 1,422 1,276 1,556
Net assets per share Yen 52.46 24.71 46.64 70.89 64.25 80.39
Net assets Million yen 6,159 6,276 7,232 8,532 8,822 9,811
Net assets per share Yen 306.90 322.68 360.35 425.11 455.43 511.80

Consolidated investment value index

Major figures 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Sales Million yen 6,703 8,003 9,057 9,078 9,259
Sales cost Million yen 2,554 3,043 3,262 3,042 3,214
Selling, general and administrative expenses Million yen 3,231 3,538 3,786 3,850 4,157
Gross profit Million yen 4,149 4,960 5,795 6,035 6,045
Operating income (loss) Million yen 917 1,421 2,008 2,185 1,887
Ordinary income (loss) Million yen 956 1,551 2,129 2,207 1,888
Net income (loss) Million yen 626 925 1,344 1,514 1,642
Earnings before interest, taxes,
and amortization (EBITA)1
Million yen 1,298 1,816 2,466 2,519 2,251
Capital Million yen 594 594 594 594 594
Total number of issued shares Thousand shares 20,071 20,071 20,071 20,071 20,071
Net assets Million yen 8,669 10,265 12,039 12,250 13,110
Total assets Million yen 10,883 12,869 14,646 15,715 17,993
Interest-bearing debt (including discounted notes) Million yen 240 - - - 1,750
Number of employees (consolidated) Persons 288 294 301 320 342

*1EBITA = Income after tax + Interest paid + Taxes + Depreciation expense

Cash Flow 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
CF from operating activities Million yen 352 1,759 1,489 1,796 1,633
CF from investment activities Million yen -102 -231 -399 -1,372 -2,461
CF from financial activities Million yen -400 -459 -220 -912 1,128
Cash and cash equivalents at the end of year Million yen 1,749 2,973 3,997 3,422 3,723
Profitability 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Gross income to sales ratio % 61.9 62.0 64.0 66.5 65.3
Operating income to sales ratio % 13.7 17.8 22.2 24.1 20.4
Ordinary income to sales ratio % 14.3 19.4 23.5 24.3 20.4
Net income to sales ratio % 9.4 11.6 14.8 16.7 17.7
Business income to total assets ratio % 9.1 12.3 14.9 14.7 11.4
Ordinary income to total assets ratio (ROA)*2 % 9.1 13.1 15.5 14.5 11.2
Net income to equity ratio (ROE) % 7.6 9.8 12.1 12.5 13.0

*2Ordinary income to total assets ratio = Business income (operating income + interest received + discounts, dividends) ÷ Average total assets at the beginning and the end of the year

Stability 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Own capital ratio % 79.7 79.8 82.2 78.0 72.9
Current ratio % 309.1 351.2 465.0 293.5 279.8
Fixed ratio % 59.5 53.9 49.6 62.1 70.7
Debt ratio % 25.5 25.4 21.6 28.3 37.2
Debt-equity ratio3 % 2.8 - - - 13.3
Interest coverage ratio4 Times 230.1 1,637.1 - - 288.2

*3Debt-equity ratio = Interest-bearing debt ÷ Own capital × 100

*4Interest coverage = Operating cash flow / interest payments

Growth Potential 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Sales increase rate % 6.6 19.4 13.2 0.2 2.0
Ordinary income increase rate % 39.3 62.2 37.2 3.7 -14.5
Net income increase rate % 963.1 47.6 45.3 12.7 8.4
Productivity 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Sales per employee Thousand yen 23,277 27,222 30,090 28,369 27,075
Gross margin per employee Thousand yen 14,407 16,871 19,252 18,861 17,676
Ordinary income per employee Thousand yen 3,322 5,278 7,073 6,899 5,521
Per Share Data 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Net income per share(loss) Yen 31.24 46.09 66.98 76.26 84.86
Net assets per share Yen 431.94 511.44 599.85 632.41 683.86
Annual dividend Yen 10 10 14 18 20
Employee Data 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Number of employees (consolidated) Persons 288 294 301 320 342
Number of employees (non-consolidated) Persons 168 170 172 186 198
Average age (non-consolidated) Years old 41.9 42.5 41.9 41.7 41.8
Average service years (non-consolidated) Years 13.4 13.9 13.5 12.9 12.7
Sales by Item 44th 45th 46th 47th 48th
2013/3 2014/3 2015/3 2016/3 2017/3
Chemicals for electronic substrates and parts Million yen 6,093 7,353 8,486 8,718 8,862
Machines for electronic substrates Million yen 197 227 112 178 130
Materials for electronic substrates Million yen 362 390 432 154 239
Other Million yen 50 31 26 26 26
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