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 Expenses

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