1. Investor Relations
  2. Financial Data

Financial Data

Financial highlights

Consolidated 52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Sales(Million yen) 11,956 15,038 16,329 14,020 18,234
Operating income(Million yen) 2,370 3,939 4,004 2,492 4,562
Ordinary income(Million yen) 2,388 4,104 4,246 2,683 4,682
Net income(Million yen) 1,595 2,949 3,064 2,304 2,291
Earning per share(yen) 84.09 155.28 161.22 122.29 122.38
Net assets(Million yen) 17,470 20,929 23,325 24,777 26,897
Net assets per share(yen) 920.60 1,101.30 1,226.98 1,323.24 1,436.45

Consolidated investment value index

Major figures

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Sales(Million yen) 11,956 15,038 16,329 14,020 18,234
Sales cost(Million yen) 4,560 5,715 6,525 5,703 7,132
Gross profit(Million yen) 7,395 9,323 9,803 8,316 11,101
Selling, general and administrative expenses(Million yen) 5,025 5,383 5,799 5,824 6,539
Operating income (loss)(Million yen) 2,370 3,939 4,004 2,492 4,562
Ordinary income (loss)(Million yen) 2,388 4,104 4,246 2,683 4,682
Net income (loss)(Million yen) 1,595 2,949 3,064 2,304 2,291
Earnings before interest, taxes, depreciation and amortization (EBITDA)*1(Million yen) 3,098 4,839 4,989 3,993 5,487
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) 17,470 20,929 23,325 24,777 26,897
Total assets(Million yen) 21,510 25,305 27,499 28,665 33,039
Interest-bearing debt (including discounted notes)(Million yen) 400 0 0 0 0
Number of employees (consolidated)(Persons) 397 413 438 454 480
  • EBITDA = Earnings before interest, taxes, depreciation and amortization.

Cash Flow

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
CF from operating activities(Million yen) 2,429 3,013 3,810 1,941 4,200
CF from investment activities(Million yen) -1,149 -1,117 -939 -1,397 51
CF from financial activities(Million yen) -771 -916 -800 -1,773 -873
Cash and cash equivalents at the end of year(Million yen) 4,471 5,620 7,776 6,690 10,254

Profitability

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Gross income to sales ratio(%) 61.9 62.0 60.0 59.3 60.9
Operating income to sales ratio(%) 19.8 26.2 24.5 17.8 25.0
Ordinary income to sales ratio(%) 20.0 27.3 26.0 19.1 25.7
Net income to sales ratio(%) 13.3 19.6 18.8 16.4 12.6
Business income to total assets ratio(%) 11.6 17.0 15.3 9.1 15.0
Ordinary income to total assets ratio (ROA)*2 (%) 11.5 17.5 16.1 9.6 15.2
Net income to equity ratio (ROE)(%) 9.5 15.4 13.8 9.6 8.9
Return On Invested Capital (ROIC)*3(%) 9.3 13.4 12.2 6.4 8.1
  • Ordinary 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
  • Return On Invested Capital = (Operating income - Tax) / (Net assets at the end of the period + Interest-bearing debt)

Stability

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Own capital ratio(%) 81.2 82.7 84.8 86.4 81.4
Current ratio(%) 299.7 365.0 448.8 539.4 440.9
Fixed ratio(%) 62.6 54.8 49.4 53.2 49.7
Debt ratio(%) 23.1 20.9 17.9 15.7 22.8
Debt-equity ratio*4(%) 2.3 0.0 0.0 0.0 0.0
  • Debt-equity ratio = Interest-bearing debt ÷ Own capital × 100

Growth Potential

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Sales increase rate(%) 10.0 25.8 8.6 -14.1 30.1
Ordinary income increase rate(%) 38.7 71.8 3.5 -36.8 74.5
Net income increase rate(%) 29.1 84.8 3.9 -24.8 -0.6

Productivity

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Sales per employee(Thousand yen) 30,117 36,412 37,281 30,881 37,988
Gross margin per employee(Thousand yen) 18,629 22,574 22,383 18,318 23,128
Operating income per employee(Thousand yen) 5,970 9,539 9,142 5,490 9,505
Ordinary income per employee(Thousand yen) 6,016 9,938 9,695 5,910 9,755

Per Share Data

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Net income per share (loss)(yen) 84.09 155.28 161.22 122.29 122.38
Net assets per share(yen) 920.60 1,101.30 1,226.98 1,323.24 1,436.45
Annual dividend(yen) 26.00 35.00 45.00 45.00 45.00

Employee Data

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Number of employees (consolidated)(Persons) 397 413 438 454 480
Number of employees (non-consolidated)(Persons) 228 237 253 263 277
Average age (non-consolidated)(Years old) 42.2 42.4 42.6 42.8 42.6
Average service years (non-consolidated)(Years) 12.7 12.8 12.7 12.9 12.6

Sales by Item

52nd(12/2020) 53rd(12/2021) 54th(12/2022) 55th(12/2023) 56th(12/2024)
Chemicals for electronic substrates and parts(Million yen) 11,598 14,756 16,042 13,764 17,478
Machines for electronic substrates(Million yen) 282 167 170 112 579
Materials for electronic substrates(Million yen) 68 91 108 139 169
Other(Million yen) 7 22 8 3 7

Sales

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(Million yen) 12/2020 12/2021 12/2022 12/2023 12/2024
1Q 2,809 3,505 3,955 2,765 4,354
2Q 2,891 3,519 4,172 3,432 4,527
3Q 3,026 4,132 4,236 3,782 4,799
4Q 3,228 3,881 3,965 4,038 4,552

Operating income

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(Million yen) 12/2020 12/2021 12/2022 12/2023 12/2024
1Q 498 973 1,051 168 1,053
2Q 635 975 1,032 669 1,309
3Q 702 1,202 1,034 833 1,286
4Q 533 787 886 820 913

Ordinary income

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(Million yen) 12/2020 12/2021 12/2022 12/2023 12/2024
1Q 463 1,036 1,186 223 1,132
2Q 662 986 1,187 779 1,508
3Q 692 1,197 1,064 875 1,059
4Q 568 884 808 804 982

Net income

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(Million yen) 12/2020 12/2021 12/2022 12/2023 12/2024
1Q 317 742 793 82 779
2Q 476 724 867 994 1,111
3Q 401 818 721 630 736
4Q 399 664 681 597 -335

Earning per share

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(yen) 12/2020 12/2021 12/2022 12/2023 12/2024
1Q 16.72 39.11 41.76 4.32 41.62
2Q 25.13 38.14 45.64 52.57 59.34
3Q 21.18 43.05 37.95 33.69 39.36
4Q 21.06 34.98 35.87 31.93 -17.94
  1. Investor Relations
  2. Financial Data