Consolidated Financial Statements (Japan GAAP)

  • Balance Sheets
  • Income Statement /
    Statement of Comprehensive Income
  • Cash Flows
  • Balance Sheets

    Condolidated Balance Sheets

    Total assets

    Total net assets / Total net assets ratio

    (Millions of yen)

    YEARS ENDED MARCH 31 2015/3 2016/3 2017/3 2018/3 2019/3
    Assets
    Current assets: 462,969 493,932 512,470 518,471 573,096
    Cash and time deposits 31,953 31,000 42,045 33,372 29,304
    Notes and accounts receivable, trade 237,631 258,378 269,676 287,084 308,831
    Inventories 137,614 145,139 142,412 149,757 176,972
    Other current assets 55,770 59,414 58,336 48,257 57,988
    Long-term assets: 441,451 351,327 374,060 396,134 379,410
    Tangible fixed assets 174,953 176,476 173,517 174,600 182,124
    Intangible fixed assets 15,295 20,369 20,528 19,330 17,843
    Investments and other assets 251,201 154,481 180,014 202,203 179,442
    Deferred assets 102 117 132 137 152
    Total assets 904,522 845,378 886,663 914,744 952,659
    Liabilities and shareholders' equity
    Current liabilities: 404,748 417,819 412,404 404,741 425,894
    Notes and accounts payable, trade 150,648 160,416 165,306 183,976 196,669
    Short-term loans 68,095 53,795 62,008 33,865 48,296
    Current portion of debentures 15,000 20,500 5,000 20,000 -
    Other current liabilities 171,003 183,107 180,089 166,898 180,927
    Long-term liabilities 180,137 166,578 150,396 143,455 134,704
    Long-term debt and bonds 89,129 88,449 84,208 74,435 60,548
    Net defined benefit liability 32,518 50,729 40,883 42,519 45,794
    Other long-term liabilities 58,489 27,399 25,303 26,500 28,361
    Total liabilities 584,885 584,397 562,800 548,197 560,598
    Net Assets
    Shareholders' equity: 196,680 219,221 252,619 281,805 310,276
    Common stock 47,586 47,586 47,586 47,586 47,586
    Capital surplus 46,735 46,736 45,985 45,986 46,067
    Retained earnings 109,543 132,111 166,289 195,517 223,940
    Treasury stock at cost -7,184 -7,212 -7,241 -7,284 -7,316
    Valuation and translation adjustments: 93,659 11,177 38,596 48,830 42,645
    Unrealized gain on other securities 69,528 30,254 42,751 47,665 43,974
    Deferred gain on hedges -513 -1,132 -1,600 88 -280
    Foreign currency transaction adjustment 10,978 3,377 175 1,572 368
    Remeasurements of defined benefit plans 13,665 -21,321 -2,730 -496 -1,417
    Minority interests in consolidated subsidiaries 29,296 30,581 32,647 35,910 39,139
    Total net assets 319,636 260,980 323,863 366,546 392,061
    Total liabilities and net assets 904,522 845,378 886,663 918,859 952,659
  • Income Statement / Statement of Comprehensive Income

    Consolidated Statements of Income

    Net sales / Ratio of cost of sales

    Net income (loss)

    (Millions of yen)

    YEARS ENDED MARCH 31 2015/3 2016/3 2017/3 2018/3 2019/3
    Net sales 810,678 813,550 837,765 893,451 914,915
    Cost of sales 609,376 603,235 624,371 661,824 679,876
    Gross profit 201,302 210,314 213,394 231,627 235,038
    Ratio to net sales (%) 24.8 25.9 25.5 25.9 25.7
    Selling, general and administration expenditure 161,985 165,308 168,684 175,665 175,066
    Operating income (loss) 39,316 45,006 44,709 55,962 59,972
    Ratio to net sales (%) 4.8 5.5 5.3 6.3 6.6
    Non-operating income 8,321 4,908 4,780 4,664 5,991
    Interest and dividends received 2,526 3,037 2,822 2,503 3,122
    Other 5,795 1,871 1,957 2,160 2,868
    Non-operating expenses 4,499 4,301 3,193 4,579 2,483
    Interest expense 2,551 2,136 2,135 1,621 1,377
    Other 1,948 2,165 1,058 2,957 1,106
    Ordinary income (loss) 43,139 45,614 46,296 56,047 63,479
    Ratio to net sales (%) 5.3 5.6 5.5 6.3 6.9
    Extraordinary income 7,703 3,340 19,817 1,900 2,451
    Extraordinary loss 5,123 2,387 2,170 1,142 3,643
    Income before income taxes 45,719 46,566 63,943 56,805 62,287
    Income taxes and business tax (%) 5.6 5.7 7.6 6.4 6.8
    Income taxes and business tax 9,612 9,600 33,157 13,738 16,051
    Deferred income taxes 5,305 3,096 -14,234 1,064 1,165
    Income before minority interests 30,800 33,868 45,019 42,001 45,070
    Profit attributable to non-controlling interests 2,822 3,224 4,040 4,237 4,802
    Profit (loss) attributable to owners of parent 27,978 30,644 40,978 37,763 40,267
    Ratio to net sales (%) 3.5 3.8 4.9 4.2 4.4

    Consolidated Statements of Comprehensive Income

    (Millions of yen)

    YEARS ENDED MARCH 31 2015/3 2016/3 2017/3 2018/3 2019/3
    Income before minority interests 30,800 33,868 45,019 42,001 45,070
    Other comprehensive income (loss)          
    Valuation differences on available-for-sale securities 24,731 -39,295 12,598 5,093 -3,782
    Deferred gains or loss on hedges -531 -622 -464 1,688 -369
    Foreign currency translation adjustments 8,785 -8,300 -3,604 1,597 -1,359
    Remeasurements of defined benefit plans net of tax 24,141 -34,914 18,359 2,301 -1,106
    Share of other comprehensive income (loss) of associates accounted for using equity method 517 -520 307 171 201
    Total other comprehensive loss 57,644 -83,652 27,197 10,852 -6,416
    Comprehensive income (loss) 88,445 -49,783 72,217 52,854 38,653
    Comprehensive income (loss) Attributable to:          
    Comprehensive income attributable to owners of parent 84,260 -51,837 68,397 47,997 34,082
    Comprehensive income attributable to non-controlling interests 4,184 2,053 3,820 4,856 4,570
  • Cash Flows

    Consolidated Statements of Cash Flows

    Cash flows

    Free cash flows

    (Millions of yen)

    YEARS ENDED MARCH 31 2015/3 2016/3 2017/3 2018/3 2019/3
    Cash flows from operating activities:
    Income (loss) before income taxes 45,719 46,566 63,943 56,805 62,287
    Depreciation and amortization 33,615 29,723 29,445 30,151 30,906
    Interest and dividends income -2,526 -3,037 -2,822 -2,503 -3,122
    Interest expense 2,551 2,136 2,135 1,621 1,377
    (Increase) decrease in trade receivables -8,646 -22,609 -14,107 -16,633 -21,949
    (Increase) decrease in inventories -12,572 -7,811 1,557 -6,933 -26,937
    Increase (decrease) in trade payables 3,410 12,513 7,169 18,645 12,410
    Increase (decrease) in advances received 3,958 1,750 4,909 3,487 -3,129
    Other, net -6,735 -3,604 -24,157 4,017 13,636
    Subtotal 58,775 55,627 68,073 88,657 65,479
    Interest and dividends received 2,572 3,035 2,838 2,507 3,142
    Interest paid -2,536 -2,186 -2,230 -1,652 -1,412
    Income taxes paid -7,352 -8,026 -10,496 -36,365 -12,260
    Net cash provided by (used in) operating activities 51,459 48,450 58,185 53,146 54,949
    Cash flows from investing activities:
    Purchase of fixed assets and marketable and investment securities -25,502 -22,501 -19,635 -14,642 -16,571
    Proceeds from sale of fixed assets and marketable and investment securities 7,102 7,872 33,609 3,381 1,954
    Other, net -4,349 -4,781 -4,225 -3,290 -6,830
    Net cash provided by (used in) investing activities -22,750 -19,410 9,748 -14,550 -21,448
    Free cash flows 28,708 29,040 67,934 38,596 33,501
    Cash flows from financing activities:
    Increase (decrease) in short-term borrowings, net -7,926 -11,245 -228 -4,570 -10,680
    Increase (decrease) in commercial paper, net 19,000 3,000 -22,000 - 8,000
    Proceeds from long-term debt 751 34,520 26,355 12,060 13,044
    Repayments of long-term debt and redemption of bonds -24,357 -35,106 -37,082 -30,559 -22,068
    Other, net -21,296 -22,734 -23,128 -23,819 -26,470
    Net cash provided by (used in) financing activities -33,828 -31,566 -56,083 -46,887 -38,174
    Effect of exchange rate changes on cash and cash equivalents 1,718 -2,099 -910 -374 -338
    Net increase (decrease) in cash and cash equivalents -3,401 -4,625 10,940 -8,664 -4,333
    Cash and cash equivalents at beginning of year 33,412 31,895 30,838 41,886 33,329
    Cash and cash equivalents of resulting from changes of consolidated subsidiaries 1,883 3,552 107 108 138
    Cash and cash equivalents of resulting from
    mergers with non-consolidated subsidiaries
    - 17 - - -
    Cash and cash equivalents at end of year 31,895 30,838 41,886 33,329 29,134
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