Financial Statement

(Millions of yen)

As of March 31, 2022

As of March 31, 2023

Assets

Current assets

Cash and deposits

17,345

14,865

Notes receivable - trade

1,942

906

Accounts receivable - trade

5,418

6,985

Electronically recorded monetary claims -

1,949

2,582

operating

Merchandise and finished goods

2,079

2,685

Work in process

5,085

4,909

Raw materials and supplies

1,209

2,299

Other

382

199

Allowance for doubtful accounts

△9

△160

Total current assets

35,404

35,274

Non-current assets

Property, plant and equipment

Buildings and structures

16,302

16,367

Accumulated depreciation

△10,300

△10,716

Buildings and structures, net

6,002

5,651

Machinery, equipment and vehicles

11,305

11,421

Accumulated depreciation

△9,612

△9,926

Machinery, equipment and vehicles,

1,693

1,495

net

Land

7,271

7,299

Construction in progress

129

4,644

Other

4,736

4,935

Accumulated depreciation

△4,271

△4,462

Other, net

464

472

Total property, plant and equipment

15,562

19,562

Intangible assets

Software

254

214

Goodwill

101

79

Other

271

218

Total intangible assets

627

512

Investments and other assets

Investment securities

12,910

13,284

Retirement benefit asset

1,029

1,406

Other

1,767

937

Allowance for doubtful accounts

△0

△0

Total investments and other assets

15,707

15,628

Total non-current assets

31,897

35,703

Total assets

67,302

70,977

(Millions of yen)

As of March 31, 2022

As of March 31, 2023

Liabilities

Current liabilities

Notes and accounts payable - trade

3,178

3,152

Electronically recorded obligations -

1,849

2,182

operating

Income taxes payable

537

509

Contract liabilities

2,755

3,456

Provision for product warranties

123

259

Provision for bonuses

724

832

Other

1,273

1,513

Total current liabilities

10,442

11,907

Non-current liabilities

Deferred tax liabilities

2,252

2,532

Retirement benefit liability

133

148

Other

96

86

Total non-current liabilities

2,481

2,767

Total liabilities

12,924

14,675

Net assets

Shareholders' equity

Share capital

4,150

4,150

Capital surplus

8,818

8,818

Retained earnings

39,446

40,501

Treasury shares

△3,957

△3,923

Total shareholders' equity

48,457

49,546

Accumulated other comprehensive income

Valuation difference on available-for-

5,435

6,022

sale securities

Deferred gains or losses on hedges

△22

△1

Foreign currency translation adjustment

208

319

Remeasurements of defined benefit plans

161

267

Total accumulated other comprehensive

5,783

6,609

income

Non-controlling interests

137

146

Total net assets

54,378

56,302

Total liabilities and net assets

67,302

70,977

(Millions of yen)

Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023

Net sales

30,085

34,074

Cost of sales

23,196

26,364

Gross profit

6,889

7,710

Selling, general and administrative expenses

5,069

5,798

Operating profit

1,819

1,912

Non-operating income

Interest income

8

10

Dividend income

339

378

Share of profit of entities accounted for

27

40

using equity method

Foreign exchange gains

74

47

Other

36

41

Total non-operating income

486

517

Non-operating expenses

Interest expenses

0

1

Loss on sale of notes receivable - trade

1

1

Maintenance of inactive non-current asset

30

32

Other

3

2

Total non-operating expenses

35

37

Ordinary profit

2,270

2,392

Extraordinary income

Gain on sale of non-current assets

1

0

Gain on sale of investment securities

493

554

Total extraordinary income

495

555

Extraordinary losses

Loss on sale and retirement of non-current

6

71

assets

Expenses for commemorative ceremony of the

－

35

eightieth anniversary

Total extraordinary losses

6

107

Profit before income taxes

2,758

2,840

Income taxes - current

704

835

Income taxes for prior periods

△90

－

Income taxes - deferred

76

△48

Total income taxes

689

786

Profit

2,068

2,053

Profit attributable to non-controlling

10

12

interests

Profit attributable to owners of parent

2,058

2,040

(Millions of yen)

Fiscal year ended

Fiscal year ended

March 31, 2022

March 31, 2023

Profit

2,068

2,053

Other comprehensive income

Valuation difference on available-for-sale

△428

587

securities

Deferred gains or losses on hedges

△20

20

Foreign currency translation adjustment

219

117

Remeasurements of defined benefit plans, net

17

106

of tax

Share of other comprehensive income of

1

△5

entities accounted for using equity method

Total other comprehensive income

△210

826

Comprehensive income

1,858

2,880

Comprehensive income attributable to

Comprehensive income attributable to owners

1,848

2,867

of parent

Comprehensive income attributable to non-

10

13

controlling interests