Financial Statements

Consolidated Balance Sheets

Millions of yen
Prior Fiscal Year End
(As of Mar. 31, 2016)
Current Fiscal Year End
(As of Mar. 31, 2017)
Assets
Current assets
Cash and deposits 23,073 23,924
Notes and accounts receivable-trade 37,327 36,061
Electronically recorded monetary claims-operating 11,654 10,524
Merchandise and finished goods 13,241 13,946
Work in process 2,260 2,391
Raw materials and supplies 7,534 7,272
Deferred tax assets 3,796 4,053
Other 3,020 3,263
Allowance for doubtful accounts △ 157 △ 489
Total current assets 101,752 100,948
Non-current assets
Property, plant and equipment
Buildings and structures 44,350 44,397
Accumulated depreciation △ 23,027 △ 24,191
Buildings and structures, net 21,322 20,206
Machinery, equipment and vehicles 45,053 45,031
Accumulated depreciation △ 34,814 △ 35,644
Machinery, equipment and vehicles, net 10,239 9,387
Tools, furniture and fixtures 12,414 12,540
Accumulated depreciation △ 10,269 △ 10,676
Tools, furniture and fixtures, net 2,144 1,863
Land 12,956 12,901
Construction in progress 1,224 1,325
Other 224 227
Accumulated depreciation △ 70 △ 77
Other, net 153 150
Total property, plant and equipment 48,040 45,834
Intangible assets
Goodwill 1,130 735
Other 2,372 1,927
Total intangible assets 3,502 2,663
Investments and other assets
Investment securities 21,405 27,502
Long-term loans receivable 2,570 3,203
Deferred tax assets 1,815 1,617
Other 2,172 2,058
Allowance for doubtful accounts △ 1,686 △ 2,284
Total investments and other assets 26,277 32,096
Total non-current assets 77,821 80,594
Total assets 179,573 181,543
Millions of yen
Prior Fiscal Year End
(As of Mar. 31, 2016)
Current Fiscal Year End
(As of Mar. 31, 2017)
Liabilities
Current liabilities
Notes and accounts payable-trade 9,796 9,593
Electronically recorded obligations-operating 2,559 2,558
Short-term loans payable 4,452 3,353
Accrued expenses 27,280 23,734
Income taxes payable 3,645 2,551
Accrued consumption taxes 351 460
Deferred tax liabilities 242 142
Provision for bonuses 2,064 2,092
Provision for directors' bonuses 30 30
Provision for sales returns 1,239 750
Provision for sales rebates 2,290 2,380
Other 5,405 5,775
Total current liabilities 59,357 53,422
Non-current liabilities
Long-term loans payable 994 1,765
Deferred tax liabilities 2,300 2,492
Net defined benefit liability 5,381 4,410
Provision for loss on guarantees 789
Other 268 227
Total non-current liabilities 8,944 9,684
Total liabilities 68,301 63,107
Net assets
Shareholders' equity
Capital stock 6,411 6,415
Capital surplus 5,738 5,737
Retained earnings 98,675 106,302
Treasury shares △ 5,207 △ 4,938
Total shareholders' equity 105,618 113,517
Accumulated other comprehensive income
Valuation difference on available-for-sale securities 5,438 5,862
Foreign currency translation adjustment 1,296 △ 439
Remeasurements of defined benefit plans △ 2,113 △ 1,498
Total accumulated other comprehensive income 4,621 3,924
Subscription rights to shares 568 560
Non-controlling interests 462 434
Total net assets 111,271 118,436
Total liabilities and net assets 179,573 181,543

Consolidated Statements of Income

Millions of yen
Prior Fiscal Year
(Apr. 1, 2015 – Mar. 31, 2016)
Current Fiscal Year
(Apr. 1, 2016 – Mar. 31, 2017)
Net sales 167,016 154,599
Cost of sales 67,250 63,254
Gross profit 99,766 91,344
Provision for sales returns 539
Gross profit-net 99,226 91,344
Selling, general and administrative expenses
Promotion expenses 21,173 18,614
Advertising expenses 26,815 22,255
Salaries and bonuses 11,198 10,975
Provision for bonuses 916 964
Provision for directors' bonuses 30 30
Retirement benefit expenses 462 544
Depreciation 1,087 985
Amortization of goodwill 404 371
Research and development expenses 5,811 6,123
Provision for doubtful accounts 43 426
Other 15,601 14,601
Total selling, general and administrative expenses 83,543 75,893
Operating income 15,683 15,451
Non-operating income
Interest income 264 208
Dividend income 393 509
Other 259 417
Total non-operating income 918 1,135
Non-operating expenses
Interest expenses 166 135
Share of loss of entities accounted for using equity method 442 195
Foreign exchange losses 275 77
Other 378 214
Total non-operating expenses 1,262 623
Ordinary income 15,339 15,964
Extraordinary income
Gain on sales of investment securities 71 1,329
Total extraordinary income 71 1,329
Extraordinary losses
Loss on disposal of fixed assets 172
Impairment loss 462 540
Loss on valuation of investment securities 457
Loss on valuation of shares of subsidiaries and associates 309 6
Provision for doubtful accounts 275 570
Provision for doubtful accounts for subsidiaries and associates 59 5
Provision for loss on guarantees 789
Total extraordinary losses 1,107 2,541
Profit before income taxes 14,303 14,752
Income taxes-current 5,834 5,091
Income taxes-deferred △ 616 △ 353
Total income taxes 5,217 4,738
Profit 9,085 10,013
Profit (loss) attributable to non-controlling interests △ 12 2
Profit attributable to owners of parent 9,098 10,011

Consolidated Statement of Cash Flows

Millions of yen
Prior Fiscal Year
(Apr. 1, 2015 – Mar. 31, 2016)
Current Fiscal Year
(Apr. 1, 2016 – Mar. 31, 2017)
Net cash provided by (used in) operating activities 11,324 13,428
Net cash provided by (used in) investing activities △ 6,066 △ 9,511
Net cash provided by (used in) financing activities △ 5,898 △ 2,335
Effect of exchange rate change on cash and cash equivalents △ 1,998 △ 633
Net increase (decrease) in cash and cash equivalents △ 2,638 947
Cash and cash equivalents at beginning of period 25,093 22,495
Increase in cash and cash equivalents from newly consolidated subsidiary 40 22
Cash and cash equivalents at end of period 22,495 23,466

Consolidated Statements of Change in Shareholders' EquityCurrent Fiscal Year (Apr. 1, 2016 – Mar. 31, 2017)

Millions of yen
  Shareholders' equity
Capital stock Capital surplus Retained earnings Treasury shares Total shareholders' equity
Balance at beginning of current period 6,411 5,738 98,675 △ 5,207 105,618
Changes of items during period
Issuance of new shares 4 4 8
Dividends of surplus     △ 2,278   △ 2,278
Profit attributable to owners of parent 10,011 10,011
Purchase of treasury shares △0 △0
Disposal of treasury shares 268 268
Change in scope of consolidation △ 106 △ 106
Change in scope of equity method
Change in ownership interest of parent due to transactions with non-controlling interests △ 5 △ 5
Net changes of items other than shareholders' equity          
Total changes of items during period 4 △ 0 7,627 268 7,898
Balance at end of current period 6,415 5,737 106,302 △ 4,938 113,517
  Accumulated other comprehensive income
Valuation difference on available-for-sale securities Foreign currency translation adjustment Remeasurements of defined benefit plans Total accumulated other comprehensive income
Balance at beginning of current period 5,438 1,296 △ 2,113 4,621
Changes of items during period
Issuance of new shares
Dividends of surplus
Profit attributable to owners of parent
Purchase of treasury shares
Disposal of treasury shares
Change in scope of consolidation
Change in scope of equity method
Change in ownership interest of parent due to transactions with non-controlling interests
Net changes of items other than shareholders' equity 423 △ 1,735 614 △ 697
Total changes of items during period 423 △ 1,735 614 △ 697
Balance at end of current period 5,862 △ 439 △ 1,498 3,924
  Subscription rights to shares Non-controlling interests Total net assets
Balance at beginning of current period 568 462 111,271
Changes of items during period
Issuance of new shares 8
Dividends of surplus △ 2,278
Profit attributable to owners of parent 10,011
Purchase of treasury shares △ 0
Disposal of treasury shares 268
Change in scope of consolidation △ 106
Change in scope of equity method
Change in ownership interest of parent due to transactions with non-controlling interests △ 5
Net changes of items other than shareholders' equity △ 8 △ 28 △ 734
Total changes of items during period △ 8 △ 28 7,164
Balance at end of current period 560 434 118,436