(Millions of yen)
| As of March 31, 2023 | As of March 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and deposits | 595,961 | 674,234 |
| Notes and accounts receivable - trade, and contract assets |
184,633 | 151,006 |
| Finance receivables | 226,042 | 240,517 |
| Merchandise and finished goods | 259,848 | 317,485 |
| Work in process | 24,835 | 24,684 |
| Raw materials and supplies | 66,901 | 69,717 |
| Short-term loans receivable | 1,022 | 7,027 |
| Other | 121,481 | 144,510 |
| Allowance for doubtful accounts | (5,766) | (1,333) |
| Total current assets | 1,474,959 | 1,627,849 |
| Non-current assets | ||
| Property, plant and equipment | ||
| Buildings and structures, net | 86,288 | 92,079 |
| Machinery, equipment and vehicles, net | 134,524 | 187,469 |
| Tools, furniture and fixtures, net | 56,044 | 66,496 |
| Land | 116,734 | 122,506 |
| Construction in progress | 61,011 | 29,583 |
| Total property, plant and equipment | 454,603 | 498,135 |
| Intangible assets | 40,003 | 44,904 |
| Investments and other assets | ||
| Investment securities | 95,361 | 104,094 |
| Long-term loans receivable | 2,760 | 5,013 |
| Retirement benefit asset | 4,045 | 17,224 |
| Deferred tax assets | 74,029 | 86,313 |
| Other | 59,660 | 75,445 |
| Allowance for doubtful accounts | (3,898) | (4,511) |
| Total investments and other assets | 231,959 | 283,579 |
| Total non-current assets | 726,565 | 826,620 |
| Total assets | 2,201,524 | 2,454,470 |
| Liabilities | ||
| Current liabilities | ||
| Notes and accounts payable - trade | 369,495 | 337,434 |
| Electronically recorded obligations - operating | 92,009 | 102,141 |
| Short-term borrowings | 31,330 | 68,053 |
| Commercial papers | 47,500 | 43,500 |
| Current portion of long-term borrowings | 73,098 | 224,612 |
| Lease liabilities | 3,519 | 3,719 |
| Accounts payable - other, and accrued expenses |
233,874 | 232,510 |
| Income taxes payable | 13,510 | 9,540 |
| Provision for product warranties | 54,605 | 68,048 |
| Provision for contingent loss | 10,504 | - |
| Other | 77,939 | 85,641 |
| Total current liabilities | 1,007,389 | 1,175,202 |
| Non-current liabilities | ||
| Long-term borrowings | 248,048 | 127,781 |
| Lease liabilities | 24,785 | 24,690 |
| Deferred tax liabilities | 320 | 203 |
| Retirement benefit liability | 36,688 | 20,367 |
| Other | 53,915 | 61,768 |
| Total non-current liabilities | 363,758 | 234,811 |
| Total liabilities | 1,371,148 | 1,410,014 |
| Net assets | ||
| Shareholders' equity | ||
| Share capital | 284,382 | 284,382 |
| Capital surplus | 199,620 | 199,585 |
| Retained earnings | 338,424 | 478,239 |
| Treasury shares | (989) | (1,688) |
| Total shareholders' equity | 821,438 | 960,518 |
| Accumulated other comprehensive income | ||
| Valuation difference on available-for-sale securities |
977 | 2,045 |
| Deferred gains or losses on hedges | (35) | (739) |
| Foreign currency translation adjustment | (5,438) | 35,454 |
| Remeasurements of defined benefit plans | (15,802) | 12,933 |
| Total accumulated other comprehensive income |
(20,298) | 49,694 |
| Share acquisition rights | 29 | 23 |
| Non-controlling interests | 29,208 | 34,219 |
| Total net assets | 830,376 | 1044,456 |
| Total liabilities and net assets | 2,201,524 | 2,454,470 |
(Millions of yen)
| For the fiscal year ended March 31, 2023 |
For the fiscal year ended March 31, 2024 |
|
|---|---|---|
| Net sales | 2,458,141 | 2,789,589 |
| Cost of sales | 1,935,341 | 2,220,743 |
| Gross profit | 522,799 | 568,846 |
| Selling, general and administrative expenses | ||
| Advertising and promotion expenses | 51,535 | 63,009 |
| Freight costs | 72,747 | 93,593 |
| Provision of allowance for doubtful accounts | (605) | (159) |
| Remuneration, salaries and allowances for directors (and other officers) |
74,711 | 81,438 |
| Retirement benefit expenses | 3,982 | 4,444 |
| Depreciation | 14,516 | 16,690 |
| Research and development expenses | 61,025 | 57,642 |
| Other | 54,390 | 61,215 |
| Total selling, general and administrative expenses | 332,304 | 377,874 |
| Operating profit (loss) | 190,495 | 190,971 |
| Non-operating income | ||
| Interest income | 7,623 | 13,412 |
| Dividend income | 677 | 580 |
| Foreign exchange gains | 5,421 | 12,888 |
| Share of profit of entities accounted for using equity method |
- | 5,259 |
| Other | 2,603 | 2,268 |
| Total non-operating income | 16,326 | 34,409 |
| Non-operating expenses | ||
| Interest expenses | 3,559 | 6,054 |
| Litigation expenses | 4,306 | 5,422 |
| Financing expenses | 706 | 692 |
| Share of loss of entities accounted for using equity method |
12,209 | - |
| Other | 4,017 | 4,171 |
| Total non-operating expenses | 24,799 | 16,340 |
| Ordinary profit (loss) | 182,022 | 209,040 |
| Extraordinary income | ||
| Gain on sale of non-current assets | 27,271 | 481 |
| Gain on sale of investment securities | 24 | 97 |
| Gain on liquidation of subsidiaries | - | 824 |
| Other | 398 | 103 |
| Total extraordinary income | 27,693 | 1,506 |
| Extraordinary losses | ||
| Loss on retirement of non-current assets | 1,941 | 3,348 |
| Loss on sale of non-current assets | 1,713 | 119 |
| Impairment losses | 5,015 | 1,294 |
| Loss related to Russian operations | 19,928 | 1,313 |
| Loss related to Chinese operations | 10,504 | 23,002 |
| Other | 2,483 | 635 |
| Total extraordinary losses | 41,586 | 29,714 |
| Profit (loss) before income taxes | 168,129 | 180,832 |
| Income taxes - current | 36,410 | 27,577 |
| Income taxes - deferred | (44,642) | (7,307) |
| Total income taxes | (8,232) | 20,270 |
| Profit (loss) | 176,361 | 160,562 |
| Profit (loss) attributable to non-controlling interests |
7,630 | 5,852 |
| Profit (loss) attributable to owners of parent | 168,730 | 154,709 |
(Millions of yen)
| For the fiscal year ended March 31, 2023 |
For the fiscal year ended March 31, 2024 |
|
|---|---|---|
| Cash flows from operating activities | ||
| Profit (loss) before income taxes | 168,129 | 180,832 |
| Depreciation | 60,132 | 67,737 |
| Impairment losses | 5,015 | 1,294 |
| Loss related to Russian operations | 19,928 | 1,313 |
| Loss related to Chinese operations | 10,504 | 23,002 |
| Loss (gain) on liquidation of subsidiaries | - | (824) |
| Increase (decrease) in allowance for doubtful accounts | (3,632) | (4,258) |
| Increase (decrease) in retirement benefit liability | 8,003 | 3,560 |
| Interest and dividend income | (8,300) | (13,993) |
| Interest expenses | 3,559 | 6,054 |
| Foreign exchange losses (gains) | (5,354) | (7,861) |
| Share of loss (profit) of entities accounted for using equity method |
12,209 | (5,259) |
| Loss (gain) on sale and retirement of non-current assets |
(23,616) | 2,987 |
| Decrease (increase) in trade receivables | (59,282) | 43,597 |
| Decrease (increase) in finance receivables | (3,496) | (14,335) |
| Decrease (increase) in inventories | (38,739) | (25,751) |
| Increase (decrease) in trade payables | 63,702 | (58,946) |
| Increase (decrease) in accounts payable - other, and accrued expenses |
6,639 | 1,119 |
| Other, net | (19,341) | (41,426) |
| Subtotal | 196,058 | 158,843 |
| Interest and dividends received | 13,447 | 18,833 |
| Interest paid | (3,620) | (5,877) |
| Income taxes paid | (32,309) | (30,992) |
| Net cash provided by (used in) operating activities |
173,576 | 140,806 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (71,041) | (113,964) |
| Proceeds from sale of property, plant and equipment |
36,389 | 1,768 |
| Purchase of intangible assets | (8,601) | (12,881) |
| Other, net | (9,891) | (13,788) |
| Net cash provided by (used in) investing activities | (53,145) | (138,865) |
| Cash flows from financing activities | ||
| Increase (decrease) in short-term borrowings | 8,797 | 34,768 |
| Increase (decrease) in commercial papers | 4,500 | (4,000) |
| Proceeds from long-term borrowings | 238,541 | 117,602 |
| Repayments of long-term borrowings | (306,549) | (87,436) |
| Dividends paid | (16) | (14,845) |
| Dividends paid to non-controlling interests | (2,633) | (3,104) |
| Other, net | (4,504) | (5,310) |
| Net cash provided by (used in) financing activities | (61,865) | 37,674 |
| Effect of exchange rate change on cash and cash equivalents |
25,890 | 38,658 |
| Net increase (decrease) in cash and cash equivalents | 84,456 | 78,274 |
| Cash and cash equivalents at beginning of period | 511,473 | 595,930 |
| Cash and cash equivalents at end of period | 595,930 | 674,204 |