Financial Information

Financial Statements

| Balance Sheets | Statements of Income | Statements of Cash Flows |

■Balance Sheets

（Millions of yen）

	FY2006	FY2007	FY2008	FY2009	FY2010
【Assets】
Current assets
Cash and deposits	18,758	15,175	17,484	56,548	51,958
Notes and accounts receivable-trade	37,677	34,375	26,031	50,918	50,897
Inventories	36,463	32,203	34,520	57,772	60,974
Accounts receivable-other	1,577	2,450	3,109	3,339	2,837
Deferred tax assets	4,162	3,196	1,396	4,347	4,489
Other	2,791	3,852	3,394	4,777	4,849
Allowance for doubtful accounts	(1,474)	(1,205)	(1,508)	(1,402)	(1,352)
Total current assets	99,955	90,049	84,430	176,301	174,654

Noncurrent assets
Property, plant and equipment
Buildings and structures	29,107	35,873	40,335	107,916	107,510
Machinery, equipment and vehicles	20,182	18,583	16,909	97,437	100,248
Tools, furniture and fixtures	13,742	13,904	13,870	35,067	35,410
Other			560	781	3,191
Accumulated depreciation	(40,972)	(40,165)	(38,882)	(161,075)	(168,054)
Land	47,885	50,253	52,576	80,739	83,505
Construction in progress	3,797	499	173	2,382	1,054
Total property, pland and equipment	73,742	78,947	85,543	163,249	162,866
Intangible assets
Goodwill			656	12,075	11,172
Other	7,986	9,185	9,337	12,305	10,373
Total intangible assets	7,986	9,185	9,994	24,381	21,545
Investments and other assets
Investment securities	57,425	42,997	40,279	32,415	31,989
Deferred tax assets	1,080	1,083	1,696	2,939	2,600
Other	5,402	5,255	5,112	10,070	10,229
Allowance for doubtful accounts	(504)	(519)	(341)	(3,395)	(3,428)
Total investments and other assets	63,403	48,817	46,747	42,028	41,390
Total noncurrent assets	145,131	136,950	142,285	229,659	225,802
Total assets	245,087	227,000	226,716	405,960	400,457
【Liabilities】
Current liabilities
Notes and accounts payable-trade	27,485	19,656	15,642	40,798	45,175
Short-term loans payable	31,347	30,508	41,452	102,276	75,306
Current portion of long-term loans payable	9,108	11,013	43,007	59,777	58,606
Accounts payable-other	8,562	6,767	5,104	11,567	11,182
Income taxes payable	930	820	303	1,084	1,691
Deferred tax liabilities		24	67	21	127
Provision for bonuses	1,919	1,829	1,232	1,938	1,520
Provision for goods warranties	857	772	618	532	490
Other current liabilities	4,975	5,764	5,057	8,247	12,061
Total current liabilities	85,186	77,157	112,487	226,244	206,163

Noncurrent liabilities
Long-term loans payable	68,958	76,155	57,573	93,016	103,952
Deferred tax liabilities	6,388	4,275	1,822	5,207	4,632
Deferred tax liabilities for land revaluation	5,668	5,490	5,490	5,490	5,490
Provision for retirement benefits	10,195	10,497	10,323	26,398	25,241
Provision for directors' retirement benefits	703	665	606	884	350
Provision for environmental measures				303	330
Provision for long-term goods warranties	190	168	142	109	92
Negative goodwill			1,704	1,325	946
Other noncurrent liabilities	3,190	3,605	4,078	4,424	6,990
Total noncurrent liabilities	95,294	100,856	81,742	137,161	148,023
Total liabilities	180,481	178,014	194,229	363,405	354,187
【Net assets】
Shareholders' equity
Capital stock	10,000	10,000	10,000	10,000	10,000
Capital surplus	452	453	447	14,770	7,521
Retained earnings	25,481	27,045	21,283	13,262	23,140
Treasury stock	(158)	(182)	(593)	(2,984)	(1,010)
Total shareholders' equity	35,775	37,316	31,137	35,048	39,650

Valuation and translation adjustments
Valuation difference on available-for-sale securities	22,551	10,179	663	1,388	740
Deferred gains or losses on hedges	(11)	(91)	31	44	99
Revaluation reserve for land	3,355	3,095	3,095	7,154	7,154
Foreign currency translation adjustment	2,045	(1,971)	(6,449)	(8,173)	(10,455)
Total valuation and translation adjustment	27,941	11,213	(2,659)	414	(2,461)
Minority interests	889	456	4,008	7,092	9,080
Total net assets	64,606	48,986	32,486	42,554	46,270
Total liabilities and net assets	245,087	227,000	226,716	405,960	400,457

Consolidated Balance Sheets for the last five years (viewable as a single download)（EXCEL：35KB）

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■Statements of Income

（Millions of yen）

	FY2006	FY2007	FY2008	FY2009	FY2010
Net sales	209,154	213,966	174,031	230,766	313,881
Cost of sales	128,455	132,713	107,684	154,464	217,242
Gross profit	80,699	81,253	66,347	76,302	96,638
%	38.6%	38.0%	38.1%	33.1%	30.8%

Adverting expense	13,874	13,651	11,637	7,482	7,079
Labor cost	26,776	26,865	25,661	28,255	35,205
Provision for bonuses	1,405	1,457	887	907	949
Liability for retirement benefits	1,022	1,403	1,444	1,464	1,687
Other selling, general and administrative expenses	30,476	30,647	30,219	36,215	40,061
Total selling, general and administrative expenses	73,553	74,023	69,848	74,323	84,981
Operating income	7,146	7,229	(3,500)	1,979	11,656
%	3.4%	3.4%	-	0.9%	3.7%

Interest income	185	385	257	145	199
Dividends income		414	552	176	173
House-rent and other rental income	905	578
Equity in earnings of affiliates	1,088	1,111	2,035		1,058
Amortization of negative goodwill				378	378
Foreign exchange gain	463
Other non-operating income	1,565	1,378	1,079	1,790	1,594
Total non-operating income	4,208	3,867	3,924	2,491	3,404
Interest expenses	2,114	2,436	2,637	4,306	5,555
Foreign exchange losses			1,371		1,230
Equity in losses of affiliates				1,124
Other non-operating expenses	1,854	1,394	1,104	980	1,690
Total non-operating expenses	3,968	3,831	5,113	6,410	8,475
Ordinary income	7,386	7,265	(4,690)	(1,940)	6,585
%	3.5%	3.4%	-	-	2.1%

Extraordinary income	7,503	1,884	1,625	8,297	2,710
Extraordinary loss	317	2,655	671	8,793	4,219
Income before income taxes and minority interests	14,572	6,494	(3,736)	(2,435)	5,076
%	7.0%	3.0%	-	-	1.6%

Income taxes - currenet	1,556	2,382	1,151	1,539	2,417
Income taxes - deferred	2,927	775	556	(494)	(129)
Minority interests in income	166	120	342	151	607
Net income	9,922	3,216	(5,786)	(3,632)	2,181
%	4.7%	1.5%	-	-	0.7%

Consolidated Statements of Income for the last five years (viewable as a single download)（EXCEL：29KB）

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■Statements of Cash Flows

（Millions of yen）

	FY2006	FY2007	FY2008	FY2009	FY2010
<Net cash provided by (used in) operating activities>
Income before income taxes and minority interests	14,572	6,495	(3,736)	(2,435)	5,076
Depreciation and amortization	4,633	4,713	5,664	11,553	16,845
Increase (decrease) in provision for retirement benefits	(682)	411	(59)	(1,187)	(1,069)
Increase (decrease) in provision for directors' retirement benefits	(33)	(37)	(95)	17	(534)
Increase (decrease) in allowance for doubtful accounts	(405)	(174)	133	(325)	60
Interest and dividends income	(539)	(799)	(809)	(322)	(373)
Dividends income from equity method affiliate	200	552	262	354	207
Interest expenses	2,114	2,436	2,637	4,306	5,555
Foreign exchange losses (gains)	9	(75)	687	(338)	(45)
Equity in (earnings) losses of affiliates	(1,088)	(1,111)	(2,035)	1,124	(1,058)
Impairment loss				6,081	187
Loss (gain) on sales of investment securities		(1,884)	(1,625)		(293)
Loss (gain) on sales of noncurrent assets	(7,398)			(8,179)	(2,191)
Loss on retirement of noncurrent assets	415	138	489	371	783
Decrease (increase) in notes and accounts receivable-trade	2,005	1,132	5,775	(1,439)	(2,790)
Decrease (increase) in inventories	(323)	2,998	(4,603)	7,248	(4,475)
Increase (decrease) in notes and accounts payable-trade	3,716	(6,034)	(2,261)	2,833	7,406
Other, net	616	(704)	(3,114)	1,047	4,336
Subtotal	17,813	8,056	(2,688)	20,710	27,627

Interest and dividends income received	539	800	809	322	373
Interest expenses paid	(2,147)	(2,389)	(2,570)	(4,325)	(5,632)
Income taxes paid	(1,491)	(2,459)	(1,540)	(1,049)	(1,869)
Net cash provided by (used in ) operating activities	14,714	4,007	(5,989)	15,658	20,498

<Net cash provided by (used in) investing activities>
Proceeds from withdrawal of time deposits				9,089
Purchase of property, plant and equipment	(15,142)	(13,252)	(10,262)	(4,157)	(13,349)
Proceeds from sales of property, plant and equipment	20,999	1,393	1,133	4,443	3,197
Purchase of investment securities	(2,504)	(2,170)	(7,276)	(304)	(50)
Proceeds from sales of investment securities	19	2,481	6,148	52	1,217
Proceeds from redemption of investment securities				3,600
Payments of loans receivable	(49)	(318)	(2,367)	(793)	(537)
Collection of loans receivable	84	277	2,121	808	575
Purchase of investments in subsidiaries resulting in change in scope of consolidation			(1,106)
Proceeds from purchase of investments in subsidiaries resulting in change in scope of consolidation		34		174
Other, net	(269)	(1,171)	(1,634)	(1,599)	250
Net cash provided by (used in) investing activities	3,137	(12,726)	(13,245)	11,314	(8,696)

<Net cash provided by (used in) financing activities>
Increase in short-term loans payable	75,871	219,409	204,131	529,899	581,265
Decrease in short-term loans payable	(78,154)	(220,555)	(192,540)	(535,462)	(601,520)
Proceeds from long-term loans payable	12,000	19,000	24,500	43,380	65,947
Repayment of long-term loans payable	(11,301)	(9,898)	(12,588)	(51,297)	(62,246)
Cash dividends paid	(1,743)	(1,742)	(1,451)	(290)
Proceeds from sales of treasury stock					2,540
Payments for transfer of construction deposit	(7,689)
Other, net	(57)	(42)	(235)	(332)	(381)
Net cash provided by (used in) financing activities	(11,073)	6,171	21,816	(14,104)	(14,394)

Effect of exchange rate change on cash and cash equivalents	280	(890)	(804)	178	(837)

Net increase (decrease) in cash and cash equivalents	7,058	(3,437)	1,776	13,047	(3,429)

Cash and cash equivalents at beginning of period	11,627	18,717	15,122	16,841	55,331

Increase (decrease) in cash and cash equivalents resulting from change of scope of consolidation	31	(157)	(99)	25,442

Increase in cash and cash equivalents resulting from merger with unconsolidated subsidiaries			41

Cash and cash equivalents at end of period	18,717	15,122	16,841	55,331	51,901

Consolidated Statements of Cash Flows for the last five years (viewable as a single download)（EXCEL：31KB）


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