Consolidated statements of operations
(Millions of yen)
2005/3
Net sales
Operating income
Operating income margin (%)
Net income (loss)
908,389
51,865
5.7
9,159
2006/3
938,082
76,757
8.2
24,853
2007/3
2008/3
1,009,586
75,061
7.4
34,125
1,036,624
65,162
6.3
12,613
2007/3
2008/3
2009/3
943,410
17,966
1.9
(42,963)
2010/3
765,840
13,435
1.8
(35,683)
2011/3
815,655
48,560
6.0
25,182
2012/3
854,370
34,044
4.0
11,979
2013/3
745,713
12,358
1.7
(29,131)
2014/3
2015/3
784,425
18,078
2.3
8,356
786,171
39,086
5.0
(8,086)
Consolidated balance sheets
(Millions of yen)
2005/3
Total assets
Total Shareholders' equity *1
Equity ratio (%) *2
Short-term debt
Long-term debt
D/E ratio *2
852,029
290,586
34.1
118,073
158,958
0.95
2006/3
943,991
338,609
35.9
189,583
108,714
0.88
999,917
366,753
36.7
193,375
102,105
0.81
1,015,991
391,010
38.5
208,044
117,199
0.83
2009/3
874,157
305,577
35.0
183,057
178,283
1.18
2010/3
823,071
271,305
33.0
129,643
190,641
1.18
2011/3
761,534
284,236
37.3
96,749
170,653
0.94
2012/3
762,118
292,030
38.3
127,266
133,768
0.89
2013/3
762,399
271,252
35.6
136,713
132,247
1.00
2014/3
2015/3
768,411
281,680
36.7
113,377
166,402
1.00
823,695
287,074
34.9
98,057
208,705
1.07
*1 Shareholders' equity after 2007.3: Total net assets at end of period - stock acquisition rights at end of period - minority interesting
consolidated subsidiaries at end of period
*2 Figures prior to 2006.3 are calculated using total shareholder's equity as defined under previous accounting standard.
Consolidated statements of cash flows
(Millions of yen)
2005/3
Cash flows from operating activities
Cash flows from investing activities
Free Cash Flows
Debt payback period *1
Interest coverage ratio *2
73,313
12,708
86,021
3.8
11.1
2006/3
75,491
(74,062)
1,429
4.0
11.3
2007/3
96,456
(87,065)
9,391
3.1
11.5
2008/3
53,740
(79,218)
(25,478)
6.1
4.5
2009/3
40,392
(116,304)
(75,912)
8.9
4.0
2010/3
80,433
(33,436)
46,997
4.0
13.1
2011/3
77,132
(27,745)
49,387
3.5
17.2
2012/3
53,668
(35,165)
18,503
4.9
10.9
2013/3
64,329
(37,891)
26,438
4.2
18.4
2014/3
2015/3
38,587
(47,279)
8,692
7.3
10.5
76,030
(49,624)
26,406
4.1
23.8
*1 Interest bearing debt/Cash provided by operating activities
*2 Cash provided by operating activities/Interest expense
Principal Expenditures
(Millions of yen)
2005/3
CAPEX
CAPEX/Net sales (%)
Depreciation & amortization
R&D expenses
R&D expenses/Net sales (%)
Number of employees
Per-capita net sales
54,135
6.0
52,287
30,024
3.3
18,960
47.9
2006/3
66,777
7.1
50,389
31,196
3.3
18,819
49.8
2007/3
75,698
7.5
54,009
35,097
3.5
19,053
53.0
2008/3
84,641
8.2
62,667
36,282
3.5
19,125
54.2
2009/3
75,806
8.0
67,363
37,629
4.0
19,453
48.5
2010/3
36,313
4.7
61,879
33,356
4.4
18,778
40.8
2011/3
29,249
3.6
56,410
31,483
3.9
17,542
46.5
2012/3
32,293
3.8
52,304
31,844
3.7
16,819
50.8
2013/3
36,261
4.9
46,877
33,185
4.5
16,637
44.8
2014/3
30,182
3.8
45,664
32,234
4.1
15,756
49.8
2015/3
28,106
3.6
43,030
32,365
4.1
15,780
49.8
Industrial segment information
Advanced Fibers and Composites
Sales
Operating income
Operating income margin(%)
Total assets
Capital expenditure
Depreciation *
R&D expenses( hundred millions)
Number of employees
* Exclude depreciation of goodwill.
(Millions of yen)
2013/3
111,167
(4,698)
-4.2
201,986
13,253
15,962
58
4,439
2014/3
123,550
5,742
4.6
199,100
9,062
16,313
52
4,078
2015/3
135,529
14,352
10.6
193,893
10,034
15,462
48
4,307
Electronics Materials and Performance Polymer Products
Sales
Operating income
Operating income margin(%)
Total assets
Capital expenditure
Depreciation *
R&D expenses( hundred millions)
Number of employees
(Millions of yen)
2013/3
175,538
(1,921)
-1.1
167,485
4,019
9,018
54
2,427
2014/3
179,446
(7,218)
-4.0
157,913
2,638
9,985
49
2,327
2013/3
138,334
24,808
17.9
104,509
11,680
8,454
127
4,142
2014/3
138,415
24,529
17.7
124,753
12,544
9,789
128
3,643
2013/3
237,160
4,713
2.0
119,725
2,239
1,863
7
3,078
2014/3
254,180
5,186
2.0
121,847
1,626
1,795
5
3,029
2015/3
184,767
3,402
1.8
151,978
1,676
8,154
42
2,152
* Exclude depreciation of goodwill.
Healthcare
Sales
Operating income
Operating income margin(%)
Total assets
Capital expenditure
Depreciation *
R&D expenses( hundred millions)
Number of employees
(Millions of yen)
2015/3
141,723
24,829
17.5
147,931
11,232
10,935
145
3,701
* Exclude depreciation of goodwill.
Trading and Retail
Sales
Operating income
Operating income margin(%)
Total assets
Capital expenditure
Depreciation *
R&D expenses( hundred millions)
Number of employees
* Exclude depreciation of goodwill.
(Millions of yen)
2015/3
259,380
4,249
1.6
133,329
2,025
2,021
5
3,010
Financial highlights
2005/3
ROE(%)*1
ROA(%)*2
EBITDA(Billions of yen)*3
EV EBITDA Ratio
Inventory days (Days)
Inventories (Billions of yen)
*1 ROE = Net income / Shareholders' equity
2006/3
2007/3
2008/3
2009/3
2010/3
2011/3
2012/3
2013/3
3.1
5.9
1,042
7.9
8.5
1,271
9.7
7.7
1,291
3.3
6.5
1,278
-12.3
1.9
853
-12.4
1.6
753
9.1
6.1
1,050
4.2
4.5
863
-10.3
1.6
592
6.74
62
8.06
69
7.07
69
5.78
71
6.69
68
8.04
68
5.76
66
5.80
62
7.36
73
115,793
129,909
141,095
151,503
135,065
106,315
105,507
108,997
111,633
*2 ROA = Operating income / Total assets
*3 EBITDA Operating income Depreciation & amortization
2014/3
2015/3
3.0
2.4
637
-2.8
4.9
821
7.84
71
8.08
75
118,668
115,333
Per Share Value
2005/3
BPS*1
Share price at the end of fiscal year
PBR*2
Earnings per share (EPS)*3
Dividend per share
2006/3
2007/3
2008/3
2009/3
2010/3
2011/3
2012/3
2013/3
313.27
458
1.46
364.81
783
2.15
395.18
665
1.68
397.27
420
1.06
310.49
213
0.69
276.24
314
1.14
288.80
372
1.29
296.70
278
0.94
275.99
218
0.79
9.73
6.5
26.60
7.5
36.78
10.0
13.16
8.0
(43.65)
5.0
(36.26)
2.0
25.59
5.0
12.17
6.0
(29.61)
4.0
*1 BPS = (Total assets at end of period-subscription warrants-minority interests)/
(Number of shares outstanding at end of period -number of shares of treasury stock outstanding at end of period)
*2 PBR = Share price at end of period / Equity per share
*3 Earnings per share (EPS) = Net income (loss) /(Average number of outstanding shares-average
Quarterly results
(Millions of yen)
1Q
Net sales
Operating income
Ordinary income
Net income
2015/3
2014/3
2013/3
2015/3
2014/3
2013/3
2015/3
2014/3
2013/3
2015/3
2014/3
2013/3
2Q
3Q
4Q
181,858
195,541
201,051
207,721
183,521
198,287
196,408
206,209
174,335
183,923
184,838
202,617
4,813
7,314
12,441
14,517
1,837
3,351
4,491
8,399
2,972
4,404
2,774
2,208
4,653
9,389
14,920
13,417
1,583
2,519
8,609
7,177
2,208
2,681
3,588
1,309
1,649
(23,995)
7,921
6,339
233
4,341
450
3,333
(1,639)
1,045
1,455
(29,993)
