Consolidated Financial Results

(millions of yen)

March 2016

March 2017

March 2018

March 2019

March 2020

Net Sales

352,258

321,213

314,790

298,161

280,750

Cost of Sales

199,251

187,755

179,215

168,778

158,145

% of Net Sales

56.6

58.5

56.9

56.6

56.3

SG&A Expenses

110,838

102,822

106,007

99,121

93,541

% of Net Sales

31.5

32.0

33.7

33.2

33.3

Operating Income

42,169

30,636

29,568

30,262

29,064

% of Net Sales

12.0

9.5

9.4

10.1

10.4

Income before Income Taxes and Minority Interests

40,664

23,455

24,612

29,369

27,641

% of Net Sales

11.5

7.3

7.8

9.9

9.8

Net Income

31,194

18,410

19,563

22,135

17,588

% of Net Sales

8.9

5.7

6.2

7.4

6.3