Investor Relations

Analysis of operation

Balance sheet

Statement of income

Balance sheet

Assets

Current Assets
(Millions Yen)

Fiscal Year Ended 2003/3 2004/3 2005/3 2006/3 2007/3
Cash and Time Deposits 1,015 968 898 379 287
Receivable-Trade Notes and Accounts 5,007 5,423 4,593 5,260 5,422
Inventories 7,556 6,582 6,092 6,096 5,321
Other Current Assets 859 764 848 283 543
Less : Allowance for Doubtful Accounts -16 -23 -17 -18 -21
Total Current Assets 14,422 13,716 12,414 12,000 11,551
Fixed Assets
(Millions Yen)

Fiscal Year Ended 2003/3 2004/3 2005/3 2006/3 2007/3
Tangible Fixed Assets 7,769 7,353 6,903 7,500 8,477
Intangible Fixed Assets 29 35 65 137 136
Investments and Other Assets 3,417 3,584 3,195 3,205 2,738
Less : Allowance for Doubtful Accounts -92 -87 -87 -81 -79
Total Fixed Assets 11,122 10,885 10,077 10,761 11,272
Total Assets 25,545 24,602 22,491 22,761 22,823

Liabilities

Current Liabilities
(Millions Yen)

Fiscal Year Ended 2003/3 2004/3 2005/3 2006/3 2007/3
Payable-Trade Notes and Accounts 4,201 3,732 3,954 4,036 4,440
Short-term Borrowings 6,050 3,954 2,006 2,397 2,044
Other Current Liabilities 2,209 1,164 1,291 1,873 1,783
Total Current Liabilities 12,461 8,850 7,251 8,306 8,268
Long-term Liabilities
(Millions Yen)

Fiscal Year Ended 2003/3 2004/3 2005/3 2006/3 2007/3
Long-term Debt 1,150 3,389 2,473 966 398
Liability for Employee
Retirement Benefits
1,676 1,605 1,718 1,815 1,796
Other Long-term
Liabilities
454 585 438 433 461
Total Long-term Liabilities 3,280 5,579 4,630 3,214 2,655
(Millions Yen)

Total Liabilities 15,742 14,430 11,882 11,521 10,923
(Millions Yen)

Minority Interests in
Consolidated Subsidiaries
13 39 21 19 -

Owners' Equity

(Millions Yen)

Fiscal Year Ended 2003/3 2004/3 2005/3 2006/3 2007/3
Common Stock 2,343 2,343 2,343 2,343 2,343
Capital Surplus 1,551 1,551 1,551 1,551 1,551
Earned Surplus 5,308 5,521 5,987 6,330 6,864
Treasury Stock -0 -1 -3 -5 -6
Total Owners' Equity 9,201 9,414 9,878 10,219 10,751
Valuation Difference on
Available for Sale Securities
588 718 709 1,002 1,125
Deferred Gains or
Losses on Hedges
- - - - -3
Total Valuation and
Translation Adjustments
588 718 709 1,002 1,121
Minority Interests - - - - 26
Total Net Assets 9,789 10,132 10,587 11,221 11,900
(Millions Yen)

Total Liabilities and Total Net Assets 25,545 24,602 22,491 22,761 22,823