Financial Highlights

Business Results (Non-Consolidated)

(Millions of yen)

	2018/12	2019/12	2020/12	2021/12	2022/12
Net sales	28,828	29,333	22,477	20,572	20,878
Gross profit	6,655	6,663	5,499	6,035	6,717
Selling, general and administrative expenses	3,873	3,633	3,223	2,990	2,975
Operating income	2,782	3,030	2,275	3,044	3,742
Ordinary income	2,536	3,000	2,161	3,009	3,758
Net income	1,810	△1,753	2,225	3,171	2,883

Financial Position (Non-Consolidated)

(Millions of yen)

	2018/12	2019/12	2020/12	2021/12	2022/12
Total assets	37,862	43,020	40,702	42,202	45,643
Net assets	18,749	16,419	18,139	20,963	23,072
Interesting bearing debt	14,512	14,086	12,377	11,944	14,048

Cash Flows (Non-Consolidated)

(Millions of yen)

	2018/12	2019/12	2020/12	2021/12	2022/12
Cash flows from operating activities	△2,380	4,055	2,520	5,741	1,605
Cash flows from investing activities	△484	△1,005	△2,228	△1,264	△2,258
Cash flows from financing activities	5,944	△1,020	△2,213	△825	1,492
Free cash flows※	△2,865	3,049	291	4,477	△653

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

Major Indicators (Non-Consolidated)

(%)

	2018/12	2019/12	2020/12	2021/12	2022/12
Gross margin	23.1%	22.7%	24.5%	29.3%	32.2%
Operating margin	9.7%	10.3%	10.1%	14.8%	17.9%
Return on assets (ROA)	7.5%	7.4%	5.2%	7.3%	8.6%
Return on equity (ROE)	10.3%	△10.0%	12.9%	16.2%	13.1%
Shareholders' equity ratio	49.5%	38.2%	44.6%	49.7%	50.5%
Current ratio	392.7%	167.1%	235.0%	295.2%	322.1%
Debt equity ratio (times)	77.4%	85.8%	68.2%	57.0%	60.9%

Per Share Data (Non-Consolidated)

（Yen）

	2018/12	2019/12	2020/12	2021/12	2022/12
Net income per share	145.47	△138.81	176.16	250.72	227.54
Net assets per share	1,484.44	1,299.96	1,436.16	1,655.56	1,819.97
Cash dividends per share	46	40	31	47	69