Financial Highlights

Business Results (Non-Consolidated)

(Millions of yen)

	2017/12	2018/12	2019/12	2020/12	2021/12
Net sales	21,489	28,828	29,333	22,477	20,572
Gross profit	5,683	6,655	6,663	5,499	6,035
Selling, general and administrative expenses	3,303	3,873	3,633	3,223	2,990
Operating income	2,379	2,782	3,030	2,275	3,044
Ordinary income	2,441	2,536	3,000	2,161	3,009
Net income	1,547	1,810	△1,753	2,225	3,171

Financial Position (Non-Consolidated)

(Millions of yen)

	2017/12	2018/12	2019/12	2020/12	2021/12
Total assets	29,904	37,862	43,020	40,702	42,202
Net assets	16,351	18,745	16,419	18,139	20,963
Interesting bearing debt	9,152	14,512	14,086	12,377	11,944

Cash Flows (Non-Consolidated)

(Millions of yen)

	2017/12	2018/12	2019/12	2020/12	2021/12
Cash flows from operating activities	△2,992	△2,380	4,055	2,546	5,741
Cash flows from investing activities	△1,423	△484	△1,005	△2,228	△1,264
Cash flows from financing activities	3,854	5,944	△1,020	△2,240	△825
Free cash flows※	△4,416	△2,865	3,049	318	4,477

※Free cash flows = Cash flows from operating activities + Cash flows from investing activities

Major Indicators (Non-Consolidated)

(%)

	2017/12	2018/12	2019/12	2020/12	2021/12
Gross margin	26.4%	23.1%	22.7%	24.5%	29.3%
Operating margin	11.1%	9.7%	10.3%	10.1%	14.8%
Return on assets (ROA)	9.1%	7.5%	7.4%	5.2%	7.3%
Return on equity (ROE)	9.8%	10.3%	△10.0%	12.9%	16.2%
Shareholders' equity ratio	54.7%	49.5%	38.2%	44.6%	49.7%
Current ratio	308.0%	392.7%	167.2%	234.0%	295.2%
Debt equity ratio (times)	56.0%	77.4%	85.8%	68.2%	57.0%

Per Share Data (Non-Consolidated)

（Yen）

	2017/12	2018/12	2019/12	2020/12	2021/12
Net income per share	126.08	145.47	△138.81	176.16	250.72
Net assets per share	1,332.88	1,484.44	1,299.96	1,436.16	1,655.56
Cash dividends per share	40	46	40	31	47