Consolidated Financial Statements (Japan GAAP)

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

    Condolidated Balance Sheets

    (Billions of yen)

    (Millions of yen)

    YEARS ENDED MARCH 31 2017/3 2018/3 2019/3 2020/3 2021/3
    Assets
    Current assets: 512,470 518,471 573,096 595,692 629,207
    Cash and time deposits 42,045 33,372 29,304 64,073 76,546
    Notes and accounts receivable, trade 269,676 287,084 308,831 294,504 319,644
    Inventories 142,412 149,757 176,972 188,113 183,190
    Other current assets 58,336 48,257 57,988 49,001 49,826
    Long-term assets: 374,060 396,134 379,410 401,016 422,652
    Tangible fixed assets 173,517 174,600 182,124 201,892 209,758
    Intangible fixed assets 20,528 19,330 17,843 24,606 23,426
    Investments and other assets 180,014 202,203 179,442 174,517 189,468
    Deferred assets 132 137 152 118 92
    Total assets 886,663 914,744 952,659 996,827 1,051,952
    Liabilities and shareholders' equity
    Current liabilities: 412,404 404,741 425,894 423,160 356,416
    Notes and accounts payable, trade 165,306 183,976 196,669 179,914 167,260
    Short-term loans 62,008 33,865 48,296 21,342 21,744
    Current portion of debentures 5,000 20,000 - 15,000 -
    Other current liabilities 180,089 166,898 180,927 206,903 167,411
    Long-term liabilities 150,396 143,455 134,704 167,664 234,281
    Long-term debt and bonds 84,208 74,435 60,548 73,604 131,686
    Net defined benefit liability 40,883 42,519 45,794 50,011 53,322
    Other long-term liabilities 25,303 26,500 28,361 44,048 49,272
    Total liabilities 562,800 548,197 560,598 590,825 590,698
    Net Assets
    Shareholders' equity: 252,619 281,805 310,276 327,513 358,021
    Common stock 47,586 47,586 47,586 47,586 47,586
    Capital surplus 45,985 45,986 46,067 45,949 46,003
    Retained earnings 166,289 195,517 223,940 241,305 271,772
    Treasury stock at cost -7,241 -7,284 -7,316 -7,327 -7,340
    Valuation and translation adjustments: 38,596 48,830 42,645 38,105 58,975
    Unrealized gain on other securities 42,751 47,665 43,974 44,606 55,761
    Deferred gain on hedges -1,600 88 -280 -231 322
    Foreign currency transaction adjustment 175 1,572 368 -3,545 1,539
    Remeasurements of defined benefit plans -2,730 -496 -1,417 -2,724 1,351
    Minority interests in consolidated subsidiaries 32,647 35,910 39,139 40,382 44,257
    Total net assets 323,863 366,546 392,061 406,002 461,254
    Total liabilities and net assets 886,663 914,744 952,659 996,827 1,051,952
  • Income Statement / Statement of Comprehensive Income

    Consolidated Statements of Income

    (Billions of yen)

    (Millions of yen)

    YEARS ENDED MARCH 31 2017/3 2018/3 2019/3 2020/3 2021/3
    Net sales 837,765 893,451 914,915 900,604 875,927
    Cost of sales 624,371 661,824 679,876 680,067 654,661
    Gross profit 213,394 231,627 235,038 220,536 221,266
    Ratio to net sales (%) 25.5 25.9 25.7 24.5 25.3
    Selling, general and administration expenditure 168,684 175,665 175,066 178,020 172,670
    Operating income (loss) 44,709 55,962 59,972 42,515 48,595
    Ratio to net sales (%) 5.3 6.3 6.6 4.7 5.5
    Non-operating income 4,780 4,664 5,991 5,505 5,951
    Interest and dividends received 2,822 2,503 3,122 2,830 2,955
    Other 1,957 2,160 2,868 2,674 2,995
    Non-operating expenses 3,193 4,579 2,483 3,507 4,146
    Interest expense 2,135 1,621 1,377 1,405 1,441
    Other 1,058 2,957 1,106 2,102 2,704
    Ordinary income (loss) 46,296 56,047 63,479 44,513 50,401
    Ratio to net sales (%) 5.5 6.3 6.9 4.9 5.8
    Extraordinary income 19,817 1,900 2,451 2,771 41,145
    Extraordinary loss 2,170 1,142 3,643 3,423 28,262
    Income before income taxes 63,943 56,805 62,287 43,860 63,284
    Income taxes and business tax (%) 7.6 6.4 6.8 4.9 7.2
    Income taxes and business tax 33,157 13,738 16,051 12,488 21,423
    Deferred income taxes -14,234 1,064 1,165 -499 -3,481
    Income before minority interests 45,019 42,001 45,070 31,871 45,342
    Profit attributable to non-controlling interests 4,040 4,237 4,802 3,078 3,415
    Profit (loss) attributable to owners of parent 40,978 37,763 40,267 28,793 41,926
    Ratio to net sales (%) 4.9 4.2 4.4 3.2 4.8

    Consolidated Statements of Comprehensive Income

    (Millions of yen)

    YEARS ENDED MARCH 31 2017/3 2018/3 2019/3 2020/3 2021/3
    Income before minority interests 45,019 42,001 45,070 31,871 45,342
    Other comprehensive income (loss)          
    Valuation differences on available-for-sale securities 12,598 5,093 -3,782 608 11,400
    Deferred gains or loss on hedges -464 1,688 -369 49 553
    Foreign currency translation adjustments -3,604 1,597 -1,359 -4,574 5,935
    Remeasurements of defined benefit plans net of tax 18,359 2,301 -1,106 -1,531 4,419
    Share of other comprehensive income (loss) of associates accounted for using equity method 307 171 201 402 -215
    Total other comprehensive loss 27,197 10,852 -6,416 -5,046 22,094
    Comprehensive income (loss) 72,217 52,854 38,653 26,825 67,437
    Comprehensive income (loss) Attributable to:          
    Comprehensive income attributable to owners of parent 68,397 47,997 34,082 24,254 62,796
    Comprehensive income attributable to non-controlling interests 3,820 4,856 4,570 2,570 4,640
  • Cash Flows

    Consolidated Statements of Cash Flows

    (Billions of yen)

    (Millions of yen)

    YEARS ENDED MARCH 31 2017/3 2018/3 2019/3 2020/3 2021/3
    Cash flows from operating activities:
    Income (loss) before income taxes 63,943 56,805 62,287 43,860 63,284
    Depreciation and amortization 29,445 30,151 30,906 32,319 36,194
    Interest and dividends income -2,822 -2,503 -3,122 -2,830 -2,955
    Interest expense 2,135 1,621 1,377 1,405 1,441
    (Increase) decrease in trade receivables -14,107 -16,633 -21,949 12,127 -20,852
    (Increase) decrease in inventories 1,557 -6,933 -26,937 -11,873 7,513
    Increase (decrease) in trade payables 7,169 18,645 12,410 -15,159 -15,881
    Increase (decrease) in advances received 4,909 3,487 -3,129 1,557 -12,185
    Other, net -24,157 4,017 13,636 -171 -20,796
    Subtotal 68,073 88,657 65,479 61,235 35,762
    Interest and dividends received 2,838 2,507 3,142 2,830 2,959
    Interest paid -2,230 -1,652 -1,412 -1,396 -1,416
    Income taxes paid -10,496 -36,365 -12,260 -16,582 -10,374
    Net cash provided by (used in) operating activities 58,185 53,146 54,949 46,087 26,931
    Cash flows from investing activities:
    Purchase of fixed assets and marketable and investment securities -19,635 -14,642 -16,571 -23,338 -20,607
    Proceeds from sale of fixed assets and marketable and investment securities 33,609 3,381 1,954 9,698 49,852
    Other, net -4,225 -3,290 -6,830 -13,981 -5,767
    Net cash provided by (used in) investing activities 9,748 -14,550 -21,448 -27,621 23,477
    Free cash flows 67,934 38,596 33,501 18,466 50,408
    Cash flows from financing activities:
    Increase (decrease) in short-term borrowings, net -228 -4,570 -10,680 -2,296 -2,678
    Increase (decrease) in commercial paper, net -22,000 - 8,000 43,500 -51,500
    Proceeds from long-term debt 26,355 12,060 13,044 30,126 62,165
    Repayments of long-term debt and redemption of bonds -37,082 -30,559 -22,068 -26,663 -2,156
    Other, net -23,128 -23,819 -26,470 -27,748 -40,350
    Net cash provided by (used in) financing activities -56,083 -46,887 -38,174 16,917 -39,520
    Effect of exchange rate changes on cash and cash equivalents -910 -374 338 -772 680
    Net increase (decrease) in cash and cash equivalents 10,940 -8,664 -4,333 34,611 11,569
    Cash and cash equivalents at beginning of year 30,838 41,886 33,329 29,134 63,746
    Cash and cash equivalents of resulting from changes of consolidated subsidiaries 107 108 138 - 16
    Cash and cash equivalents of resulting from
    mergers with non-consolidated subsidiaries
    - - - - -
    Cash and cash equivalents at end of year 41,886 33,329 29,134 63,746 75,332
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