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Operating Performance

March March March March March


Fiscal Year
2005 2006 2007 2008 2009
Net sales 1 million yen (¥) 129,563 147,761 155,746 167,202 141,517

Operating income 1 million yen (¥) 10,447 13,830 16,008 19,805 9,095

Ordinary income 1 million yen (¥) 8,888 12,594 14,545 18,051 9,328

Net income 1 million yen (¥) 4,449 6,606 8,541 10,371 6,188

Capital expenditures 1 million yen (¥) 3,697 7,488 10,893 10,225 10,041

Depreciation and
1 million yen (¥) 5,503 5,509 5,948 7,301 7,344
amortization
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Balance Sheets
March March March March March
Fiscal Year
2005 2006 2007 2008 2009

Total Assets 1 million yen (¥) 179,263 198,458 212,739 202,316 178,455

Net assets 1 million yen (¥) 71,633 77,098 81,033 81,605 78,422

Equity raito 1 million yen (¥) 40.0% 38.8% 38.1% 40.3% 43.9%

Interest-bearing debt 1 million yen (¥) 43,380 38,966 42,313 39,314 37,600

Net interest-bearing debt 1 million yen (¥) 31,817 27,981 27,694 21,570 26,330

Net interest-bearing debt


1 million yen (¥) 17.7% 14.1% 13.0% 10.7% 14.8%
raito

R&D expenses 1 million yen (¥) 2,215 3,422 3,595 3,681 3,847

Number of employees 1 million yen (¥) 4,765 4,675 5,114 5,371 5,339
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Cash Flows

March March March March March


Fiscal Year
2005 2006 2007 2008 2009

Net cash provided by operating activities 1 million yen (¥) 9,672 10,680 10,107 20,873 7,263

Net cash used in provided by investing


1 million yen (¥) -2,465 -5,595 -5,879 -11,481 -9,723
activities

Net cash used in financing activities 1 million yen (¥) -9,412 -5,595 -647 -5,582 -3,540

Free cash flow 1 million yen (¥) 7,207 5,085 4,228 9,391 -2,459
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Major Indicators

March March March March March


Fiscal Year
2005 2006 2007 2008 2009

Operating income
8.1% 9.4% 10.3% 11.8% 6.4%
margin

Ordinary income margin 6.9% 8.5% 9.3% 10.8% 6.6%


ROE 6.4% 8.9% 10.8% 12.8% 7.7%

D/E ratio 0.61 0.51 0.52 0.48 0.48


ROE=Return On Equity
D/E=Debt Equity ratio
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Per Share Data

March March March March March


Fiscal Year
2005 2006 2007 2008 2009

Net income yen 22.77 34.78 45.55 55.70 33.26

Net assets yen 380.91 410.66 432.20 438.56 421.53

Cash
yen 7 9※ 7 8 8
devidends
   ※Includes a commemorative 90th anniversary dividend of ¥2.00
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