Financial Highlights

Business Results (Non-Consolidated)

(Millions of yen)

	2019/12	2020/12	2021/12	2022/12	2023/12
Net sales	29,333	22,477	20,572	20,878	22,463
Gross profit	6,663	5,499	6,035	6,717	7,552
Selling, general and administrative expenses	3,633	3,223	2,990	2,975	3,397
Operating income	3,030	2,275	3,044	3,742	4,155
Ordinary income	3,000	2,161	3,009	3,758	4,058
Net income	△1,753	2,225	3,171	2,883	2,821

Financial Position (Non-Consolidated)

(Millions of yen)

	2019/12	2020/12	2021/12	2022/12	2023/12
Total assets	43,020	40,702	42,202	45,643	49,676
Net assets	16,419	18,139	20,963	23,072	25,021
Interesting bearing debt	14,086	12,377	11,944	14,048	16,755

Cash Flows (Non-Consolidated)

(Millions of yen)

	2019/12	2020/12	2021/12	2022/12	2023/12
Cash flows from operating activities	4,055	2,520	5,741	1,605	3,530
Cash flows from investing activities	△1,005	△2,228	△1,264	△2,258	△4,667
Cash flows from financing activities	△1,020	△2,213	△825	1,492	1,818
Free cash flows※	3,049	291	4,477	△653	△1,136

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

Major Indicators (Non-Consolidated)

(%)

	2019/12	2020/12	2021/12	2022/12	2023/12
Gross margin	22.7%	24.5%	29.3%	32.2%	33.6％
Operating margin	10.3%	10.1%	14.8%	17.9%	18.5％
Return on assets (ROA)	7.4%	5.2%	7.3%	8.6%	8.5％
Return on equity (ROE)	△10.0%	12.9%	16.2%	13.1%	11.7％
Shareholders' equity ratio	38.2%	44.6%	49.7%	50.5%	50.4％
Current ratio	167.1%	235.0%	295.2%	322.1%	309.9％
Debt equity ratio (times)	85.8%	68.2%	57.0%	60.9%	66.9％

Per Share Data (Non-Consolidated)

（Yen）

	2019/12	2020/12	2021/12	2022/12	2023/12
Net income per share	△138.81	176.16	250.72	227.54	222.50
Net assets per share	1,299.96	1,436.16	1,655.56	1,819.97	1,972.72
Cash dividends per share	40	31	47	69	77