Financial Highlights

(Millions of yen)

	2018/2	2019/2	2020/2	2021/2	2022/2
Operating revenues	48,060	47,118	44,970	39,449	38,050
Gross profit	28,049	27,115	25,780	21,294	20,066
Selling, general and administrative expenses	21,947	22,171	21,804	18,527	18,345
Operating income	6,102	4,984	3,975	2,767	1,721
Ordinary income	7,562	6,804	4,312	3,195	2,293
Net income	5,293	2,440	2,475	1,622	1,490

Operating revenues

Operating income

Ordinary income

Net income

(Millions of yen)

	2018/2	2019/2	2020/2	2021/2	2022/2
Total assets	66,321	59,934	53,737	53,000	56,884
Net assets	53,399	43,587	39,588	39,543	42,917
Interest bearing debt	277	175	82	0	0

Total assets

Net assets

Interest bearing debt

(Millions of yen)

	2018/2	2019/2	2020/2	2021/2	2022/2
Cash flows from operating activities	5,427	1,664	2,433	6,633	1,871
Cash flows from investing activities	△3,023	5,407	72	△2,169	106
Cash flows from financing activities	△1,665	△9,344	△5,468	△2,515	1,816
Free cash flows*	2,403	7,071	2,505	4,464	1,977

Note: Free cash flows = Cash flows from operating activities + Cash flows from investing activities

	2018/2	2019/2	2020/2	2021/2	2022/2
Gross margin (%)	58.4	57.6	57.3	54.0	52.7
Operating margin (%)	12.7	10.6	8.8	7.0	4.5
Return on assets(ROA) (%)	8.2	3.9	4.3	3.0	2.7
Return on equity(ROE) (%)	10.4	5.0	6.0	4.1	3.6
Shareholders' equity ratio (%)	80.4	72.6	73.5	74.6	75.4
Current ratio (%)	243.2	205.5	216.2	229.6	273.5
Debt equity ratio (times)	0.01	0.00	0.00	0.00	0.00