Financial Statements

Balance Sheets

(￥million)	FY2021	FY2022	FY2023	FY2024	FY2025
Current assets
Cash and deposits	30,740	36,324	32,683	39,429	43,487
Notes receivable-trade	2,730	3,062	3,479	3,546	3,014
Accounts receivable-trade	35,694	35,187	41,136	36,400	42,259
Contract assets	343	397	880	1,426	446
Merchandise and finished goods	42,847	49,750	49,683	46,846	46,939
Work in process	16,376	18,117	18,716	19,120	20,362
Raw materials and supplies	13,823	15,908	15,983	15,697	18,277
Accounts receivable-other	4,437	6,577	4,377	3,697	4,520
Other	9,102	9,381	9,173	9,631	10,475
Allowance for doubtful accounts	-1,310	-1,297	-1,419	-1,614	-1,867
Total current assets	154,786	173,410	174,694	174,183	187,914

(￥million)	FY2021	FY2022	FY2023	FY2024	FY2025
Non-current assets
Property, plant and equipment
Buildings and structures	77,046	79,280	82,230	83,290	86,119
Machinery, equipment and vehicles	82,590	86,117	91,948	94,004	96,558
Tools, furniture and fixtures	35,782	39,233	42,617	43,549	47,096
Right-of-use assets	8,032	10,772	14,714	16,524	19,358
Other	1,876	1,927	894	211	186
Accumulated depreciation	-156,227	-163,232	-172,067	-178,271	-189,272
Land	54,056	54,182	54,144	52,695	52,879
Construction in progress	1,942	2,867	1,553	989	1,437
Total property, plant and equipment	105,100	111,149	116,037	112,995	114,365
Intangible assets
Goodwill	6,453	6,901	8,029	6,375	6,091
Other	8,391	8,620	10,159	11,614	13,921
Total intangible assets	14,844	15,522	18,189	17,989	20,012
Investments and other assets
Investment securities	43,536	45,490	56,374	53,123	49,545
Retirement benefit asset	773	1,820	1,884	1,603	1,348
Deferred tax assets	2,200	1,923	1,984	2,151	2,618
Other	6,397	6,752	7,247	7,334	8,223
Allowance for doubtful accounts	-106	-153	-148	-146	-146
Total Investments and other assets	52,802	55,833	67,341	64,068	61,589
Total non-current assets	172,747	182,505	201,568	195,053	195,967
Total assets	327,533	355,915	376,262	369,236	383,881

(￥million)	FY2021	FY2022	FY2023	FY2024	FY2025
Current liabilities
Notes and accounts payable-trade	28,165	25,002	29,586	26,847	28,322
Short-term borrowings	63,709	72,598	64,350	50,547	42,569
Current portion of bonds payable	150	300	-	-	-
Current portion of long-term borrowings	23,719	22,117	21,727	23,065	28,605
Accounts payable-other	11,359	11,344	15,291	11,997	15,098
Income taxes payable	1,546	1,793	4,678	5,311	6,743
Contract liabilities	6,574	7,916	8,760	9,769	9,998
Provision for bonuses	4,174	4,879	5,097	5,865	6,595
Provision for goods warranties	409	488	552	566	682
Provision for loss on lease contracts	348	348	87	-	-
Provision for business restructuring	136	247	24	217	-
Other provisions	245	367	366	286	296
Asset retirement obligations	-	9	647	502	513
Other	13,873	14,743	14,289	14,652	17,192
Total current liabilities	154,413	162,157	165,460	149,628	156,616

(￥million)	FY2021	FY2022	FY2023	FY2024	FY2025
Non-current liabilities
Bonds payable	300	-	-	-	-
Long-term borrowings	28,752	37,525	31,674	33,996	24,308
Lease liabilities	4,096	5,667	7,676	9,033	9,385
Deferred tax liabilities	3,069	4,285	6,912	5,335	4,023
Deferred tax liabilities for land revaluation	3,614	3,614	3,614	3,720	3,720
Provision for stock benefits	232	538	582	723	1,013
Provision for long-term goods warranties	90	88	121	164	239
Provision for retirement benefits for directors (and other officers)	19	4	4	4	4
Provision for loss on lease contracts	436	87	-	-	-
Other provisions	29	23	23	5	2
Retirement benefit liability	7,617	6,894	6,135	5,900	5,153
Asset retirement obligations	1,070	1,079	494	609	706
Other	2,166	2,199	2,227	2,099	1,202
Total non-current liabilities	51,494	62,009	59,467	61,592	49,762
Total liabilities	205,908	224,166	224,927	211,221	206,378

(￥million)	FY2021	FY2022	FY2023	FY2024	FY2025
Shareholders' equity
Share capital	10,000	10,000	10,000	10,000	10,000
Capital surplus	7,245	7,245	7,245	7,256	7,259
Retained earnings	79,075	81,520	88,465	98,164	115,182
Treasury shares	-292	-248	-1,584	-1,381	-1,318
Total shareholders' equity	96,028	98,517	104,126	114,039	131,124
Accumulated other comprehensive income
Valuation difference on available-for-sale securities	10,942	11,464	17,820	14,711	10,999
Deferred gains or losses on hedges	-331	-9	-74	-5	-48
Revaluation reserve for land	8,190	8,190	8,190	8,083	8,083
Foreign currency translation adjustment	5,116	10,638	18,290	18,783	25,935
Remeasurements of defined benefit plans	120	992	746	359	-311
Total accumulated other comprehensive income	24,038	31,275	44,974	41,932	44,659
Non-controlling interests	1,557	1,956	2,234	2,042	1,719
Total net assets	121,624	131,748	151,334	158,014	177,502
Total liabilities and net assets	327,533	355,915	376,262	369,236	383,881

A dash (-) is used for items not separately disclosed or with zero balances.