Financial statements

(Thousands of Yen)

Consolidated Balance Sheets (as of March 31)

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

	11.3	10.3	09.3
Liabilities
Current liabilities
Notes and accounts payable-trade	4,261,074	4,290,990	3,806,164
Lease obligations	49,766	43,990	28,226
Income taxes payable	976,383	566,507	1,372,185
Provision for bonuses	734,667	674,643	827,080
Provision for directors' bonuses	43,200	32,164	33,984
Other	3,061,843	2,605,218	3,123,675
Total current liabilities	9,126,935	8,213,514	9,191,316
Noncurrent liabilities
Lease obligations	68,685	86,865	76,126
Provision for retirement benefits	283,279	420,992	323,682
Provision for directors' retirement benefits	145,916	132,160	131,820
Asset retirement obligations	194,748	―	―
Other	1,056	1,094	1,321
Total noncurrent liabilities	693,686	641,112	532,950
Total liabilities	9,820,621	8,854,626	9,724,267

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

Consolidated Statements of Income(years ended March 31)

	11.3	10.3	09.3
Net sales	45,623,357	43,189,005	49,831,354
Cost of sales	32,464,024	30,064,246	35,044,638
Gross profit	13,159,332	13,124,759	14,786,715
Selling, general and administrative expenses
Provision of allowance for doubtful accounts	199	6,223	18,400
Employees' salaries and allowances	3,271,946	3,377,985	3,535,653
Provision for directors' bonuses	43,200	33,680	33,984
Provision for bonuses	469,371	674,643	772,868
Retirement benefit expenses	116,527	386,893	269,732
Provision for directors' retirement benefits	29,374	30,352	40,319
Rents	977,492	1,029,423	1,052,428
Other	4,021,324	3,987,507	4,740,876
Total selling, general and administrative expenses	8,929,436	9,526,710	10,464,262
Operating income	4,229,896	3,598,048	4,322,453
Non-operating income
Interest income	45,889	90,272	130,567
Dividends income	21,541	20,662	32,391
Compensation income	27,172	―	38,095
Miscellaneous income	32,119	31,584	27,966
Total non-operating income	126,723	142,518	229,020
Non-operating expenses
Interest expenses	3,852	3,634	4,912
Loss on investments in partnership	2,293	2,206	1,737
Foreign exchange losses	1,515	―	―
Miscellaneous expenses	3,735	1,304	5,455
Total non-operating expenses	11,398	7,145	12,105
Ordinary income	4,345,221	3,733,422	4,539,367
Extraordinary income
Gain on sales of noncurrent assets	7,833	―	28,112
Bouation in kind	20,020	―	―
Gain on sales of investment securities	33,457	16,500	14,169
Total extraordinary income	61,310	16,500	42,282
Extraordinary loss
Loss on retirement of noncurrent assets	6,878	10,272	18,147
Loss on sales of noncurrent assets	65	―	244
Loss on sales of investment securities	72	―	16,944
Loss on valuation of stocks of subsidiaries and affiliates	20,722	13,698	―
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	1,600	―	―
Loss on disaster	30,061	―	―
Total extraordinary losses	363,972	50,609	104,006
Income before income taxes and minority interests	4,042,560	3,699,312	4,477,643
Income taxes-current	1,765,533	1,552,508	1,889,585
Income taxes-deferred	(45,951)	(16,295)	30,254
Total income taxes	1,719,582	1,536,213	1,919,839
Income before minority interests	2,322,978	―	―
Minority interests in income	―	―	―
Net income	2,322,978	2,163,099	2,557,804

Page top