(Millions of yen)
| As of March 31, 2025 | As of March 31, 2026 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and deposits | 452,510 | 438,891 |
| Notes and accounts receivable-trade, and contract assets | 154,199 | 248,614 |
| Finance receivables | 267,041 | 328,967 |
| Merchandise and finished goods | 266,209 | 285,237 |
| Work in process | 26,504 | 27,862 |
| Raw materials and supplies | 70,492 | 75,293 |
| Other | 155,671 | 208,155 |
| Allowance for doubtful accounts | (1,498) | (3,153) |
| Total current assets | 1,391,131 | 1,609,869 |
| Non-current assets | ||
| Property, plant and equipment | ||
| Buildings and structures, net | 96,521 | 105,216 |
| Machinery, equipment and vehicles, net | 188,780 | 207,490 |
| Tools, furniture and fixtures, net | 65,803 | 76,868 |
| Land | 122,179 | 123,180 |
| Construction in progress | 51,085 | 38,427 |
| Total property, plant and equipment | 524,369 | 551,183 |
| Intangible assets | 51,168 | 49,415 |
| Investments and other assets | ||
| Investment securities | 102,736 | 52,235 |
| Retirement benefit asset | 9,290 | 12,406 |
| Deferred tax assets | 78,821 | 74,507 |
| Other | 93,017 | 73,402 |
| Allowance for doubtful accounts | (4,614) | (4,874) |
| Total investments and other assets | 279,251 | 207,676 |
| Total non-current assets | 854,789 | 808,275 |
| Total assets | 2,245,920 | 2,418,145 |
| Liabilities | ||
| Current liabilities | ||
| Notes and accounts payable - trade | 350,954 | 447,143 |
| Electronically recorded obligations - operating | 106,039 | 114,286 |
| Short-term borrowings | 22,651 | 69,901 |
| Commercial paper | 47,500 | 30,000 |
| Current portion of long-term borrowings | 83,427 | 117,538 |
| Lease liabilities | 3,867 | 5,385 |
| Accounts payable - other, and accrued expenses | 216,737 | 219,977 |
| Income taxes payable | 12,178 | 8,253 |
| Provision for product warranties | 70,062 | 65,482 |
| Other | 90,517 | 88,545 |
| Total current liabilities | 1,003,936 | 1,166,513 |
| Non-current liabilities | ||
| Long-term borrowings | 130,460 | 140,749 |
| Lease liabilities | 26,884 | 31,846 |
| Retirement benefit liability | 40,576 | 37,746 |
| Other | 70,496 | 77,971 |
| Total non-current liabilities | 268,418 | 288,313 |
| Total liabilities | 1,272,355 | 1,454,827 |
| Net assets | ||
| Shareholders' equity | ||
| Share capital | 284,382 | 284,382 |
| Capital surplus | 185,780 | 185,780 |
| Retained earnings | 500,609 | 451,014 |
| Treasury shares | (56,383) | (56,310) |
| Total shareholders' equity | 914,388 | 864,866 |
| Accumulated other comprehensive income | ||
| Valuation difference on available-for-sale securities | (400) | 1,160 |
| Deferred gains or losses on hedges | (25) | (1,404) |
| Foreign currency translation adjustment | 33,331 | 56,183 |
| Remeasurements of defined benefit plans | (12,892) | (1,343) |
| Total accumulated other comprehensive income | 20,013 | 54,596 |
| Share acquisition rights | 6 | 6 |
| Non-controlling interests | 39,157 | 43,849 |
| Total net assets | 973,565 | 963,318 |
| Total liabilities and net assets | 2,245,920 | 2,418,145 |
(Millions of yen)
| Fiscal year ended March 31, 2025 |
Fiscal year ended March 31, 2026 |
|
|---|---|---|
| Net sales | 2,788,232 | 2,896,536 |
| Cost of sales | 2,251,528 | 2,447,418 |
| Gross profit | 536,703 | 449,117 |
| Selling, general and administrative expenses | ||
| Advertising expenses | 60,044 | 46,340 |
| Freight costs | 95,613 | 92,632 |
| Provision of allowance for doubtful accounts | 348 | 2,209 |
| Remuneration, salaries and allowances for directors (and other officers) | 87,479 | 85,671 |
| Retirement benefit expenses | 4,064 | 4,607 |
| Depreciation | 18,887 | 21,798 |
| Research and development expenses | 67,889 | 64,865 |
| Other | 63,548 | 55,473 |
| Total selling, general and administrative expenses | 397,876 | 373,600 |
| Operating profit (loss) | 138,826 | 75,517 |
| Non-operating income | ||
| Interest income | 11,954 | 8,673 |
| Dividend income | 665 | 1,851 |
| Foreign exchange gains | - | 2,943 |
| Share of loss (profit) of investments accounted for using the equity method | - | 1,351 |
| Reversal of accounts payable - other related to overseas tariffs, etc. | 2,641 | - |
| Other | 3,529 | 3,774 |
| Total non-operating income | 18,791 | 18,594 |
| Non-operating expenses | ||
| Interest expenses | 6,732 | 6,100 |
| Foreign exchange losses | 31,541 | - |
| Litigation expenses | 5,262 | 2,219 |
| Share of loss of entities accounted for using the equity method | 6,489 | - |
| Other | 8,988 | 6,883 |
| Total non-operating expenses | 59,015 | 15,203 |
| Ordinary profit (loss) | 98,602 | 78,908 |
| Extraordinary income | ||
| Gain on sale of non-current assets | 853 | 996 |
| Gain on sale of investment securities | - | 2,500 |
| Gain on sale of shares of subsidiaries and associates | - | 1,650 |
| Other | 228 | 43 |
| Total extraordinary income | 1,082 | 5,190 |
| Extraordinary losses | ||
| Loss on retirement of non-current assets | 4,175 | 2,924 |
| Impairment losses | 5,870 | 151 |
| Extra retirement payments | 1,870 | 130 |
| Loss on sale of investments in capital of subsidiaries and associates | - | 6,313 |
| Loss on valuation of U.S. environmental credits | - | 16,112 |
| Other | 503 | 1,134 |
| Total extraordinary losses | 12,419 | 26,767 |
| Profit (loss) before income taxes | 87,265 | 57,331 |
| Income taxes - current | 29,665 | 26,016 |
| Income taxes - deferred | 6,950 | 10,156 |
| Total income taxes | 36,616 | 36,173 |
| Profit (loss) | 50,649 | 21,157 |
| Profit (loss) attributable to non-controlling interests | 9,661 | 11,142 |
| Profit (loss) attributable to owners of parent | 40,987 | 10,015 |
(Millions of yen)
| Fiscal year ended March 31, 2025 |
Fiscal year ended March 31, 2026 |
|
|---|---|---|
| Cash flows from operating activities | ||
| Profit (loss) before income taxes | 87,265 | 57,331 |
| Depreciation | 73,992 | 82,631 |
| Impairment losses | 5,870 | 151 |
| Loss on valuation of U.S. environmental credits | - | 16,112 |
| Increase (decrease) in allowance for doubtful accounts | (46) | 1,945 |
| Increase (decrease) in retirement benefit liability | 343 | 5,595 |
| Interest and dividend income | (12,620) | (10,525) |
| Interest expenses | 6,732 | 6,100 |
| Foreign exchange losses (gains) | 6,023 | (4,953) |
| Share of loss (profit) of investments accounted for using the equity method | 6,489 | (1,351) |
| Loss (gain) on sale and retirement of non-current assets | 3,336 | 2,037 |
| Decrease (increase) in trade receivables | (3,493) | (80,901) |
| Decrease (increase) in finance receivables | (26,369) | (62,204) |
| Decrease (increase) in inventories | 43,455 | 13,490 |
| Increase (decrease) in trade payables | 21,787 | 76,296 |
| Increase (decrease) in accounts payable - other, and accrued expenses | (15,051) | 2,749 |
| Decrease (increase) in accounts receivable - other | 10,909 | (20,289) |
| Other | (17,321) | (22,015) |
| Subtotal | 191,303 | 62,201 |
| Interest and dividends received | 14,318 | 13,657 |
| Interest paid | (6,792) | (5,450) |
| Income taxes paid | (24,096) | (34,652) |
| Net cash provided by (used in) operating activities | 174,734 | 35,755 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (95,080) | (112,640) |
| Proceeds from sale of property, plant and equipment | 645 | 1,967 |
| Purchase of intangible assets | (16,095) | (10,257) |
| Other | (4,221) | (1,513) |
| Net cash provided by (used in) investing activities | (114,752) | (122,444) |
| Cash flows from financing activities | ||
| Increase (decrease) in short-term borrowings | (44,706) | 47,047 |
| Increase (decrease) in commercial papers | 4,000 | (17,500) |
| Proceeds from long-term borrowings | 214,976 | 135,521 |
| Repayments of long-term borrowings | (353,132) | (91,923) |
| Purchase of treasury shares | (68,642) | (0) |
| Dividends paid | (18,583) | (16,728) |
| Dividends paid to non-controlling interests | (2,670) | (4,782) |
| Other | (6,007) | (4,733) |
| Net cash provided by (used in) financing activities | (274,765) | 46,900 |
| Effect of exchange rate change on cash and cash equivalents | (9,309) | 21,823 |
| Net increase (decrease) in cash and cash equivalents | (224,093) | (17,964) |
| Cash and cash equivalents at beginning of period | 674,204 | 450,111 |
| Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation | - | 6,713 |
| Cash and cash equivalents at end of period | 450,111 | 438,860 |