Financial Statements

• Consolidated Statement of Income
• Consolidated Statement of Comprehensive Income
• Consolidated Balance Sheet
• Consolidated Statement of Cash Flows

Five-year Financial Summaries

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Consolidated Statement of Income

(Million Yen)

	FY2019.3	FY2020.3	FY2021.3	FY2022.3	FY2023.3
Net sales	37,196	42,377	40,617	46,744	54,562
Cost of sales	28,836	33,392	31,422	35,440	41,263
Gross profit	8,359	8,985	9,195	11,303	13,299
％ Net Sales	22.5%	21.2%	22.6%	24.2%	24.4%
Selling, general and administrative expenses	3,671	4,026	3,962	4,461	5,458
Operating profit	4,687	4,959	5,233	6,842	7,840
％ Net Sales	12.6%	11.7%	12.9%	14.6%	14.4%
Ordinary profit	4,928	5,364	5,453	7,151	8,378
％ Net Sales	13.2%	12.7%	13.4%	15.3%	15.4%
Profit before income taxes	4,838	5,344	5,343	7,118	8,375
Profit attributable to owners of parent	3,185	3,193	2,968	4,357	5,318
％ Net Sales	8.6%	7.5%	7.3%	9.3%	9.7%

Consolidated Statement of Comprehensive Income

(Million Yen)

	FY2019.3	FY2020.3	FY2021.3	FY2022.3	FY2023.3
Profit	3,416	3,496	3,305	4,707	5,775
Other comprehensive income (loss)	103	△ 418	590	647	579
Comprehensive income	3,519	3,078	3,896	5,354	6,354

Consolidated Balance Sheet

(Million Yen)

	FY2019.3	FY2020.3	FY2021.3	FY2022.3	FY2023.3
Assets
Current assets	24,461	27,701	27,275	31,202	35,892
Non-current assets	14,562	15,189	19,480	22,825	24,380
Total assets	39,023	42,891	46,755	54,028	60,273
Liabilities
Current liabilities	9,288	11,138	11,458	14,571	15,701
Non-current liabilities	1,996	1,851	2,408	2,890	2,753
Total liabilities	11,284	12,989	13,866	17,462	18,455
Net assets
Shareholders' equity
Share capital	1,486	1,494	1,502	1,519	1,570
Capital surplus	2,758	2,765	2,772	2,788	2,840
Other	0	0	0	△ 418	△ 418
Retained earnings	21,192	23,489	25,561	28,685	32,788
Total shareholders' equity	25,437	27,750	29,835	32,575	36,781
Total accumulated other comprehensive income	906	501	1,082	1,733	2,297
Total net assets	27,739	29,901	32,888	36,566	41,817
Total liabilities and net assets	39,023	42,891	46,755	54,028	60,273

Consolidated Statement of Cash Flows

(Million Yen)

	FY2019.3	FY2020.3	FY2021.3	FY2022.3	FY2023.3
Cash flows from operating activities	3,570	5,933	4,630	6,610	7,888
Cash flows from investing activities	△ 2,743	△ 2,796	△ 4,137	△ 4,345	△ 2,637
Free Cash Flows	827	3,137	493	2,264	5,250
Cash flows from financing activities	△ 79	△ 1,267	△ 1,356	△ 763	△ 2,152
Cash and cash equivalents at end of period	15,006	17,036	16,291	18,218	21,651