Consolidated Financial Results

(millions of yen)

	March 2017	March 2018	March 2019	March 2020	March 2021
Net Sales	321,213	314,790	298,161	280,750	227,440
Cost of Sales	187,755	179,215	168,778	158,145	129,279
% of Net Sales	58.5	56.9	56.6	56.3	56.8
SG&A Expense	102,822	106,007	99,121	93,541	82,789
% of Net Sales	32.0	33.7	33.2	33.3	36.4
Operating Income	30,636	29,568	30,262	29,064	15,372
% of Net Sales	9.5	9.4	10.1	10.4	6.8
Income before Income Taxes and Minority Interests	23,455	24,612	29,369	27,641	17,908
% of Net Sales	7.3	7.8	9.9	9.8	7.9
Net Income	18,410	19,563	22,135	17,588	12,014
% of Net Sales	5.7	6.2	7.4	6.3	5.3

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