Management Indicater

Sales and Income

Ratio of operating income to sales

Ratio of ordinary income to sales

Ratio of net income to sales

(billion yen)

Consolidated	FY2019	FY2020	FY2021	FY2022	FY2023
Net sales	165.9	150.4	164.4	191.2	207.3
Operating income	10.5	8.9	10.7	9.2	14.4
Ratio of operating income to sales	6.3%	6.0%	6.5%	4.9%	7.0%
Ordinary income	11.1	11.2	14.6	13.2	18.8
Ratio of ordinary income to sales	6.7%	7.5%	8.9%	6.9%	9.1%
Net income for the year attributable to owners of the parent	7.2	7.9	9.8	9.3	16.9
Ratio of net income to sales	4.4%	5.3%	6.0%	4.9%	8.2%

Equity ratio

Current ratio

Fixed ratio

Return on equity (ROE)

Return on assets (ROA)

Total assets turnover ratio

Capital expenditures

Depreciation expenses

R&D expenses

Balance of liability with interest

(billion yen)

Consolidated	FY2019	FY2020	FY2021	FY2022	FY2023
Equity ratio	47.8%	49.5%	52.8%	53.4%	56.9%
Current ratio	143%	149%	183%	172%	190%
Fixed ratio	147%	138%	126%	122%	114%
Return on assets (ROA)	5.2%	4.2%	4.6%	3.7%	5.3%
Return on equity (ROE)	7.5%	7.6%	8.1%	7.0%	11.2%
Total assets turnover ratio	0.81%	0.70%	0.70%	0.76%	0.75%
Capital expenditures	23.4	16.2	18.1	22.9	31.5
Depreciation expenses	14.1	14.5	16.4	18.1	17.9
R&D expenses	1.9	1.9	1.9	2.0	2.1
Balance of liability with interest (includes convertible bond)	63.6	66.2	62.1	61.2	61.9

Cash and cash equivalents at end of period

(billion yen)

Consolidated	FY2019	FY2020	FY2021	FY2022	FY2023
Cash flows from operating activities	21.1	26.9	18.3	24.1	35.3
Cash flows from investing activities	-24.2	-18.5	-17.1	-16.4	-19.5
Cash flows from financing activities	0.0	0.8	-4.0	-3.5	-4.6
Free cash flow	-3.0	8.4	1.1	7.7	15.8
Cash and cash equivalents at end of period	18.0	28.0	26.6	31.5	44.4

Net income per share (EPS)

Net assets per share (BPS)

Cash dividends per share

Dividend payout ratio

(yen)

Consolidated	FY2019	FY2020	FY2021	FY2022	FY2023
Net assets per share	1,614.01	1,846.06	2,138.23	2,309.07	2,840.12
Net income per share	120.12	131.95	161.86	155.33	289.48
Cash dividends per share	30	33	41	42	77
Dividend payout ratio	25.0%	25.0%	25.3%	27.0%	26.6%

Price-earnings ratio (PER)

Price-book ratio (PBR)

Consolidated	FY2019	FY2020	FY2021	FY2022	FY2023
Price-earnings ratio (PER) (times)	7.83	9.63	5.86	7.43	5.90
Price-book ratio (PBR) (times)	0.58	0.69	0.44	0.50	0.60