Financial statements

(Thousands of Yen)

Consolidated Balance Sheets (as of March 31)

	12.3	11.3	10.3	09.3
Assets
Current assets
Cash and deposits	26,143,145	24,061,196	21,812,188	22,451,815
Notes and accounts receivable-trade	9,723,891	9,157,617	8,724,157	8,849,318
Lease investment assets	75,066	118,451	130,855	104,352
Inventories	1,851,238	1,872,957	2,011,945	1,743,923
Deferred tax assets	526,214	463,639	422,338	542,607
Other	1,947,835	1,772,111	1,812,597	1,619,436
Allowance for doubtful accounts	(2,114)	(5,940)	(5,741)	(4,056)
Total current assets	40,265,278	37,440,032	34,908,340	35,307,396
Noncurrent assets
Property, plant and equipment
Buildings and structures	777,302	711,665	548,420	613,991
Accumulated depreciation	(508,591)	(496,748)	(388,252)	(372,847)
Buildings and structures, net	268,710	214,917	160,168	241,144
Vehicles	6,995	3,781	7,768	7,768
Accumulated depreciation	(4,134)	(3,315)	(6,363)	(5,706)
Vehicles, net	2,860	465	1,404	2,062
Land	―	―	―	93,000
Other	3,556,251	3,611,865	3,548,370	3,552,049
Accumulated depreciation	(3,214,098)	(3,219,540)	(3,118,111)	(3,011,656)
Other, net	342,152	392,324	430,258	540,393
Total property, plant and equipment	613,724	607,708	591,830	876,599
Intangible assets
Goodwill	―	33,329	66,658	128,149
Other	250,553	179,244	155,595	213,542
Total intangible assets	250,553	212,573	222,254	341,692
Investments and other assets
Investment securities	1,706,274	1,725,018	2,137,507	1,448,690
Long-term loans receivable	1,203	2,203	3,610	2,381
Deferred tax assets	231,899	249,539	233,898	132,369
Other	1,188,310	1,248,270	1,269,793	1,344,846
Allowance for doubtful accounts	(61,157)	(61,344)	(64,365)	(64,914)
Total investments and other assets	3,066,531	3,163,687	3,580,444	2,863,374
Total noncurrent assets	3,930,809	3,983,968	4,394,529	4,081,665
Total assets	44,196,087	41,424,001	39,302,870	39,389,062

	12.3	11.3	10.3	09.3
Liabilities
Current liabilities
Notes and accounts payable-trade	4,771,506	4,261,074	4,290,990	3,806,164
Lease obligations	39,219	49,766	43,990	28,226
Income taxes payable	1,212,930	976,383	566,507	1,372,185
Provision for bonuses	853,889	734,667	674,643	827,080
Provision for directors' bonuses	51,900	43,200	32,164	33,984
Other	3,432,257	3,061,843	2,605,218	3,123,675
Total current liabilities	10,361,702	9,126,935	8,213,514	9,191,316
Noncurrent liabilities
Lease obligations	35,847	68,685	86,865	76,126
Provision for retirement benefits	316,516	283,279	420,992	323,682
Provision for directors' retirement benefits	132,422	145,916	132,160	131,820
Asset retirement obligations	199,175	194,748	―	―
Other	996	1,056	1,094	1,321
Total noncurrent liabilities	684,957	693,686	641,112	532,950
Total liabilities	11,046,660	9,820,621	8,854,626	9,724,267

	12.3	11.3	10.3	09.3
Net assets
Shareholders' equity
Capital stock	9,031,257	9,031,257	9,031,257	9,031,257
Capital surplus	8,177,299	8,177,299	8,177,299	8,177,299
Retained earnings	15,876,034	14,367,987	13,189,054	12,456,073
Treasury stock	(27,013)	(26,870)	(25,157)	(24,786)
Total shareholders' equity	33,057,578	31,549,675	30,372,454	29,639,843
Valuation and translation adjustments
Valuation difference on available-for-sale securities	75,971	59,742	75,631	24,355
Deferred gains or losses on hedges	105	100	157	595
Foreign currency translation adjustment	(9,624)	(6,136)	―	―
Total valuation and translation adjustments	66,453	53,705	75,788	24,950
Minority interests	25,395	―	―	―
Total net assets	33,149,427	31,603,380	30,448,243	29,664,794
Total liabilities and net assets	44,196,087	41,424,001	39,302,870	39,389,062

Consolidated Statements of Income(years ended March 31)

	12.3	11.3	10.3	09.3
Net sales	46,773,629	45,623,357	43,189,005	49,831,354
Cost of sales	33,100,401	32,464,024	30,064,246	35,044,638
Gross profit	13,673,227	13,159,332	13,124,759	14,786,715
Selling, general and administrative expenses
Provision of allowance for doubtful accounts	4	199	6,223	18,400
Employees' salaries and allowances	3,097,449	3,271,946	3,377,985	3,535,653
Provision for directors' bonuses	51,900	43,200	33,680	33,984
Provision for bonuses	258,095	469,371	674,643	772,868
Retirement benefit expenses	364,480	116,527	386,893	269,732
Provision for directors' retirement benefits	30,724	29,374	30,352	40,319
Rents	952,136	977,492	1,029,423	1,052,428
Other	4,317,984	4,021,324	3,987,507	4,740,876
Total selling, general and administrative expenses	9,072,775	8,929,436	9,526,710	10,464,262
Operating income	4,600,452	4,229,896	3,598,048	4,322,453
Non-operating income
Interest income	16,607	45,889	90,272	130,567
Dividends income	23,432	21,541	20,662	32,391
Subsidy income	21,910	―	―	―
Equity in earnings of affiliates	11,974	27,172	―	38,095
Miscellaneous income	45,281	32,119	31,584	27,966
Total non-operating income	119,206	126,723	142,518	229,020
Non-operating expenses
Interest expenses	1,340	3,852	3,634	4,912
Loss on investments in partnership	―	2,293	2,206	1,737
Foreign exchange losses	6,284	1,515	―	―
Miscellaneous expenses	4,862	3,735	1,304	5,455
Total non-operating expenses	12,487	11,398	7,145	12,105
Ordinary income	4,707,171	4,345,221	3,733,422	4,539,367
Extraordinary income
Gain on sales of noncurrent assets	128	7,833	―	28,112
Bouation in kind	―	20,020	―	―
Gain on sales of investment securities	1,591	33,457	16,500	14,169
Total extraordinary income	1,719	61,310	16,500	42,282
Extraordinary loss
Loss on retirement of noncurrent assets	7,959	6,878	10,272	18,147
Loss on sales of noncurrent assets	―	65	―	244
Loss on valuation of noncurrent assets	―	72	―	16,944
Loss on valuation of stocks of subsidiaries and affiliates	―	20,722	13,698	―
Loss on sales of investment securities	3,408	―	―	―
Loss on valuation of investment securities	―	179,419	26,638	68,670
Loss on adjustment for changes of accounting standard for asset retirement obligations	―	125,152	―	―
Loss on valuation of golf club membership	2,000	1,600	―	―
Loss on settlement of investment business association	4,146	―	―	―
Loss on disaster	―	30,061	―	―
Total extraordinary losses	17,515	363,972	50,609	104,006
Income before income taxes and minority interests	4,691,375	4,042,560	3,699,312	4,477,643
Income taxes-current	2,099,183	1,765,533	1,552,508	1,889,585
Income taxes-deferred	(51,242)	(45,951)	(16,295)	30,254
Total income taxes	2,047,940	1,719,582	1,536,213	1,919,839
Income before minority interests	2,643,435	2,322,978	―	―
Minority interests in income	(8,604)	―	―	―
Net income	2,652,039	2,322,978	2,163,099	2,557,804

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