Income Statement

1 Year	13%
3 Years	3%
5 Years	5%

163B

Gross Proft

1 Year	32%
3 Years	5%
5 Years	5%

83.5B

Operating Income

1 Year	64%
3 Years	9%
5 Years	6%

70.9B

Net Income

1 Year	84%
3 Years	26%
5 Years	14%

Currency: JPY

	Mar-2022	Dec-2021	Sep-2021	Jun-2021	Mar-2021	Dec-2020	Sep-2020	Jun-2020	Mar-2020	Dec-2019	Sep-2019	Jun-2019	Mar-2019	Dec-2018	Sep-2018	Jun-2018	Mar-2018	Dec-2017	Sep-2017	Jun-2017	Mar-2017	Dec-2016	Sep-2016	Jun-2016	Mar-2016	Dec-2015	Sep-2015	Jun-2015	Mar-2015	Dec-2014	Sep-2014	Jun-2014	Mar-2014	Dec-2013	Sep-2013	Jun-2013	Mar-2013	Dec-2012	Sep-2012	Jun-2012
Revenue
Revenue	510 439 +1%	505 120 0%	507 260 +2%	497 792 +10%	452 043 +5%	431 855 +4%	417 132 +0%	416 476 -6%	441 956 -2%	449 689 -1%	455 107 0%	456 764 -1%	463 504 +0%	461 452 +0%	459 534 +1%	456 331 +1%	451 125 +2%	440 315 +3%	426 766 +3%	412 335 +3%	401 266 -4%	418 836 0%	419 469 -3%	430 237 -1%	435 797 +4%	418 405 -1%	421 234 +5%	400 994 +6%	378 665 +5%	361 325 +8%	334 921 +4%	322 409 +4%	308 671 +7%	288 405 +6%	272 887 +5%	259 158 +3%	252 789 +3%	245 324 -1%	247 886 -1%	251 006 N/A

Gross Profit
Cost of Revenue	(347 748)	(345 078)	(344 760)	(347 529)	(329 061)	(318 492)	(312 560)	(306 727)	(313 458)	(316 951)	(318 046)	(318 716)	(323 224)	(320 321)	(317 858)	(315 509)	(312 107)	(303 593)	(294 779)	(283 331)	(272 434)	(284 351)	(281 050)	(284 484)	(289 266)	(274 119)	(281 354)	(270 253)	(254 386)	(244 941)	(223 020)	(214 394)	(208 052)	(196 282)	(189 071)	(183 040)	(178 052)	(173 132)	(172 567)	(173 763)
Gross Profit	162 691 +2%	160 042 -2%	162 500 +8%	150 263 +22%	122 982 +8%	113 363 +8%	104 572 -5%	109 749 -15%	128 498 -3%	132 738 -3%	137 061 -1%	138 048 -2%	140 280 -1%	141 131 0%	141 676 +1%	140 822 +1%	139 018 +2%	136 722 +4%	131 987 +2%	129 004 +0%	128 832 -4%	134 485 -3%	138 419 -5%	145 753 -1%	146 531 +2%	144 286 +3%	139 880 +7%	130 741 +5%	124 279 +7%	116 384 +4%	111 901 +4%	108 015 +7%	100 619 +9%	92 123 +10%	83 816 +10%	76 118 +2%	74 737 +4%	72 192 -4%	75 319 -2%	77 243 N/A

Operating Income
Operating Expenses	(79 164)	(78 123)	(77 325)	(75 520)	(72 159)	(69 842)	(69 642)	(71 232)	(73 498)	(75 895)	(76 446)	(76 257)	(75 575)	(73 251)	(71 791)	(70 489)	(68 992)	(68 410)	(67 168)	(66 136)	(65 620)	(64 617)	(64 585)	(65 641)	(65 633)	(65 130)	(65 736)	(63 947)	(62 702)	(60 912)	(65 743)	(65 405)	(56 367)	(55 703)	(54 791)	(54 271)	(54 042)	(53 630)	(53 246)	(51 735)
Selling, General & Administrative	(79 163)	(78 122)	(77 324)	(75 518)	(72 158)	(69 840)	(69 640)	(71 230)	(73 496)	(75 894)	(76 446)	(76 256)	(75 574)	(73 251)	(71 789)	(70 489)	(68 991)	(68 408)	(67 167)	(66 136)	(65 619)	(64 618)	(64 586)	(65 641)	(65 633)	(65 127)	(65 733)	(63 945)	(62 700)	(60 911)	(58 543)	(57 613)	(56 366)	(55 703)	(54 791)	(54 270)	(54 041)	(53 629)	(53 246)	(51 735)
Other Operating Expenses	0	0	0	(2)	0	0	(2)	(2)	(2)	0	(1)	0	(2)	(1)	(2)	0	(1)	(2)	(1)	0	0	1	1	0	0	(3)	(3)	(2)	(2)	0	(7 200)	(7 792)	0	0	0	(1)	(1)	(1)	0	0
Operating Income	83 527 +2%	81 919 -4%	85 175 +14%	74 743 +47%	50 823 +17%	43 521 +25%	34 930 -9%	38 517 -30%	55 000 -3%	56 843 -6%	60 615 -2%	61 791 -5%	64 705 -5%	67 880 -3%	69 885 -1%	70 333 +0%	70 026 +3%	68 312 +5%	64 819 +3%	62 868 -1%	63 212 -10%	69 868 -5%	73 834 -8%	80 112 -1%	80 898 +2%	79 156 +7%	74 144 +11%	66 794 +8%	61 577 +11%	55 472 +20%	46 158 +8%	42 610 -4%	44 252 +22%	36 420 +25%	29 025 +33%	21 847 +6%	20 695 +11%	18 562 -16%	22 073 -13%	25 508 N/A

Pre-Tax Income
Interest Income Expense	2 130	514	1 102	614	1 965	(1 186)	259	1 301	(258)	4 697	(36)	321	683	(1 088)	802	173	299	2 849	7 701	7 569	6 031	3 619	(619)	(2 711)	(533)	(1 420)	(1 058)	1 938	776	(576)	(549)	(2 015)	(373)	1 032	3 032	(277)	(2 794)	(2 401)	(4 618)	(1 980)
Non-Reccuring Items	2 900	246	(527)	(1 277)	(1 135)	(11 777)	(12 061)	(13 081)	(12 812)	(13 263)	(13 932)	(14 261)	(15 448)	(5 192)	(4 996)	(8 286)	(7 888)	(14 519)	(13 472)	(10 983)	(11 689)	(9 223)	(15 299)	(12 330)	(11 586)	(15 495)	(6 053)	(6 207)	(5 891)	70	0	0	(8 288)	(2 943)	(2 682)	(1 978)	(1 242)	(4 656)	(61 487)	(60 789)
Gain/Loss on Disposition of Assets	0	0	0	0	0	(15)	(31)	(131)	(229)	(332)	(239)	(424)	(352)	129	(93)	(127)	(319)	(790)	(685)	(409)	(202)	(177)	(136)	(317)	(306)	31	(28)	(80)	464	32	81	55	(130)	308	156	236	(94)	106	278	222
Total Other Income	2 262	(413)	381	1 891	1 467	4 521	4 300	3 038	2 135	(269)	160	115	860	2 885	2 350	3 482	3 654	3 430	1 191	112	169	(1 742)	499	2 195	2 111	2 930	2 301	(572)	(536)	1 099	819	2 289	2 444	1 849	2 326	1 531	1 137	2 042	2 027	2 464
Pre-Tax Income	90 819 +10%	82 266 -4%	86 131 +13%	75 971 +43%	53 120 +51%	35 064 +28%	27 397 -8%	29 644 -32%	43 836 -8%	47 676 +2%	46 568 -2%	47 542 -6%	50 448 -22%	64 614 -5%	67 948 +4%	65 575 0%	65 772 +11%	59 282 0%	59 554 +1%	59 157 +3%	57 521 -8%	62 345 +7%	58 279 -13%	66 949 -5%	70 584 +8%	65 202 -6%	69 306 +12%	61 873 +10%	56 390 +1%	56 097 +21%	46 509 +8%	42 939 +13%	37 905 +3%	36 666 +15%	31 857 +49%	21 359 +21%	17 702 +30%	13 653 N/A	(41 727) -21%	(34 575) N/A

Net Income
Tax Provision	(19 787)	(23 256)	(22 384)	(20 515)	(14 464)	(13 362)	(14 740)	(14 925)	(17 346)	(16 526)	(14 823)	(12 457)	(14 837)	(16 830)	(16 938)	(18 884)	(19 437)	(23 814)	(24 840)	(23 964)	(21 157)	(13 214)	(10 797)	(14 822)	(17 144)	(20 096)	(19 740)	(17 070)	(14 000)	(11 190)	(11 373)	(10 028)	(10 439)	(9 906)	(8 574)	(7 667)	(5 956)	(4 544)	(2 829)	(2 114)
Income from Continuing Operations	71 032	59 010	63 747	55 456	38 656	21 702	12 657	14 719	26 490	31 150	31 745	35 085	35 611	47 784	51 010	46 691	46 335	35 468	34 714	35 193	36 364	49 131	47 482	52 127	53 440	45 106	49 566	44 803	42 390	44 907	35 136	32 911	27 466	26 760	23 283	13 692	11 746	9 109	(44 556)	(36 689)
Income to Minority Interest	(180)	(288)	(566)	(546)	(160)	283	500	759	645	306	300	25	(104)	(196)	(282)	(346)	(520)	(284)	(261)	(180)	15	43	65	(10)	(123)	(503)	(671)	(793)	(885)	(703)	(623)	(567)	(420)	(493)	(382)	(334)	(323)	(885)	(1 118)	(1 171)
Net Income (Common)	70 852 +21%	58 722 -7%	63 181 +15%	54 910 +43%	38 496 +75%	21 985 +67%	13 157 -15%	15 478 -43%	27 135 -14%	31 456 -2%	32 045 -9%	35 110 -1%	35 507 -25%	47 588 -6%	50 728 +9%	46 345 +1%	45 815 +30%	35 184 +2%	34 453 -2%	35 013 -4%	36 379 -26%	49 174 +3%	47 547 -9%	52 117 -2%	53 317 +20%	44 603 -9%	48 895 +11%	44 010 +6%	41 505 -6%	44 204 +28%	34 513 +7%	32 344 +20%	27 046 +3%	26 267 +15%	22 901 +71%	13 358 +17%	11 423 +39%	8 224 N/A	(45 674) -21%	(37 860) N/A

Balance Sheet

983B

Assets

1 Year	8%
3 Years	4%
5 Years	5%

399B

Liabilities

1 Year	1%
3 Years	1%
5 Years	3%

584B

Equity

1 Year	14%
3 Years	7%
5 Years	7%

Currency: JPY

	Mar-2022	Dec-2021	Sep-2021	Jun-2021	Mar-2021	Dec-2020	Sep-2020	Jun-2020	Mar-2020	Dec-2019	Sep-2019	Jun-2019	Mar-2019	Dec-2018	Sep-2018	Jun-2018	Mar-2018	Dec-2017	Sep-2017	Jun-2017	Mar-2017	Dec-2016	Sep-2016	Jun-2016	Mar-2016	Dec-2015	Sep-2015	Jun-2015	Mar-2015	Dec-2014	Sep-2014	Jun-2014	Mar-2014	Dec-2013	Sep-2013	Jun-2013	Mar-2013	Dec-2012	Sep-2012	Jun-2012
Assets
Cash & Cash Equivalents	139 198	142 984	127 489	150 626	131 359	116 929	101 794	98 916	80 160	88 054	89 863	97 750	97 133	112 040	125 098	125 237	133 928	137 427	140 454	128 583	119 145	134 141	125 301	107 065	97 481	90 020	91 806	82 598	69 958	72 607	63 847	64 433	49 214	47 509	40 201	41 663	39 542	34 649	42 214	46 531
Cash Equivalents	139 198	142 984	127 489	150 626	131 359	116 929	101 794	98 916	80 160	88 054	89 863	97 750	97 133	112 040	125 098	125 237	133 928	137 427	140 454	128 583	119 145	134 141	125 301	107 065	97 481	90 020	91 806	82 598	69 958	72 607	63 847	64 433	49 214	47 509	40 201	41 663	39 542	34 649	42 214	46 531
Short-Term Investments	46 443	27 433	38 089	23 132	35 003	25 879	30 682	23 797	31 016	25 871	54 020	52 030	67 029	64 140	73 481	55 063	68 428	69 649	72 496	62 602	71 659	51 642	45 186	47 258	72 503	73 080	87 038	87 894	98 104	100 608	108 177	92 004	100 653	95 380	93 652	85 294	81 735	67 070	73 432	70 277
Total Receivables	122 059	111 481	112 562	118 923	114 366	107 889	100 441	83 990	101 224	101 161	99 028	99 029	106 289	100 448	97 495	100 714	103 906	98 472	98 960	93 523	91 314	81 417	79 521	92 097	101 749	80 427	84 193	85 829	87 759	74 569	69 821	67 282	72 050	60 105	55 320	55 255	58 953	48 801	47 274	51 587
Accounts Receivables	122 059	111 481	112 562	118 923	114 366	107 889	100 441	83 990	101 224	101 161	99 028	99 029	106 289	100 448	97 495	100 714	103 906	98 472	98 960	93 523	91 314	81 417	79 521	92 097	101 749	80 427	84 193	85 829	87 759	74 569	69 821	67 282	72 050	60 105	55 320	55 255	58 953	48 801	47 274	51 587
Other Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Inventory	188 336	180 368	164 293	154 329	150 471	153 554	156 026	165 957	157 389	164 902	160 661	157 360	148 031	151 099	147 021	138 080	130 816	134 463	124 689	117 575	119 081	123 634	111 171	108 098	108 945	129 531	122 123	119 741	111 498	111 582	110 994	104 792	101 352	108 790	98 375	96 331	95 944	98 580	89 452	86 105
Other Current Assets	31 358	18 916	16 409	14 426	26 741	20 708	20 344	20 618	28 585	24 996	23 128	20 425	24 888	22 198	19 807	17 803	18 856	32 415	33 024	31 726	37 064	28 170	28 005	27 361	31 655	30 853	31 625	27 466	29 841	29 549	26 499	27 194	29 320	25 539	25 230	24 783	27 394	26 311	28 819	31 654
Total Current Assets	527 394	481 182	458 842	461 436	457 940	424 959	409 287	393 278	398 374	404 984	426 700	426 594	443 370	449 925	462 902	436 897	455 934	472 426	469 623	434 009	438 263	419 004	389 184	381 879	412 333	403 911	416 785	403 528	397 160	388 915	379 338	355 705	352 589	337 323	312 778	303 326	303 568	275 411	281 191	286 154
PP&E Net	375 312	365 991	364 606	367 765	372 210	370 635	368 029	364 116	359 407	367 521	348 529	338 949	326 061	317 989	305 779	285 870	270 100	263 870	251 090	240 607	229 107	222 999	205 828	198 252	204 993	208 627	204 810	205 459	199 259	190 181	179 070	172 808	176 323	179 536	174 888	172 586	163 884	154 442	145 330	143 002
Intangible Assets	6 196	5 799	5 478	5 369	5 065	4 338	4 243	3 951	3 460	3 517	3 477	3 180	3 700	3 892	3 902	3 719	3 659	3 605	3 554	2 931	2 962	2 876	2 778	3 000	3 019	3 321	3 664	3 971	4 185	4 371	27 032	26 096	4 848	5 133	5 223	5 468	5 390	5 229	5 195	5 309
Long-Term Investments	59 052	57 305	58 318	57 803	61 160	54 824	51 622	50 815	49 996	59 596	64 692	66 338	69 860	64 368	74 000	74 608	74 649	81 500	76 322	73 686	72 526	75 769	73 293	73 432	78 675	87 103	75 529	85 991	78 856	76 899	69 980	68 650	64 903	73 210	72 432	69 292	66 124	60 300	59 166	64 892
Other Long-Term Assets	14 879	13 949	13 761	12 199	12 592	14 622	18 955	20 400	21 848	18 436	21 334	19 811	20 645	21 756	20 884	19 881	21 901	15 292	15 922	16 880	16 576	14 470	13 836	13 031	12 877	25 559	24 745	23 614	22 774	17 784	151	170	15 556	26 763	24 880	24 408	24 064	23 897	23 662	23 168
Total Assets	982 833 +6%	924 226 +3%	901 005 0%	904 572 0%	908 967 +5%	869 378 +2%	852 136 +2%	832 560 0%	833 085 -2%	854 054 -1%	864 732 +1%	854 872 -1%	863 636 +1%	857 930 -1%	867 467 +6%	820 975 -1%	826 243 -1%	836 693 +2%	816 511 +6%	768 113 +1%	759 434 +3%	735 118 +7%	684 919 +2%	669 594 -6%	711 897 -2%	728 521 +0%	725 533 +0%	722 563 +3%	702 234 +4%	678 150 +3%	655 269 +5%	623 089 +1%	614 219 -1%	621 965 +5%	590 201 +3%	575 080 +2%	563 030 +8%	519 279 +1%	514 544 -2%	522 525 N/A

Liabilities
Accounts Payable	44 328	38 454	38 698	39 952	42 438	36 184	35 156	38 740	43 241	43 523	47 179	49 169	51 353	45 482	45 896	45 490	46 551	44 532	44 697	39 529	38 898	35 619	35 429	33 181	36 052	33 756	34 794	36 790	36 057	29 228	27 529	25 104	25 728	24 776	23 215	22 331	25 268	23 140	22 516	25 033
Accrued Liabilities	20 969	0	0	0	18 040	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	9 409	0	0	0
Short-Term Debt	6 198	7 051	7 412	18 157	18 046	18 080	17 661	7 802	6 407	6 382	6 136	5 172	4 230	8 383	7 622	5 739	5 969	7 862	7 052	6 046	6 016	5 453	6 037	5 490	4 549	5 371	5 110	6 340	4 320	4 412	4 564	4 312	4 995	8 379	7 861	4 805	5 107	4 633	3 983	4 647
Current Portion of Long-Term Debt	32 263	30 582	26 919	32 218	21 927	22 078	21 564	10 608	9 218	8 469	28 359	28 114	29 198	28 838	10 392	9 889	10 572	10 590	8 416	7 443	6 973	6 923	3 817	22 649	20 242	20 962	26 903	0	6 345	0	20 000	20 000	20 141	20 000	0	0	0	0	8 000	8 000
Other Current Liabilities	48 032	60 374	60 893	54 184	35 541	45 474	47 357	44 211	55 423	54 339	58 539	56 338	63 005	58 374	61 849	57 685	63 807	56 170	58 633	58 828	76 552	48 553	50 101	45 604	51 620	58 201	57 233	60 545	60 404	50 032	50 322	46 163	50 555	46 246	44 949	47 203	46 562	60 418	68 303	68 737
Total Current Liabilities	151 790	136 461	133 922	144 511	135 992	121 816	121 738	101 361	114 289	112 713	140 213	138 793	147 786	141 077	125 759	118 803	126 899	119 154	118 798	111 846	128 439	96 548	95 384	106 924	112 463	118 290	124 040	103 675	107 126	83 672	102 415	95 579	101 419	99 401	76 025	74 339	86 346	88 191	102 802	106 417
Long-Term Debt	213 888	212 991	203 441	211 180	224 271	223 990	226 407	238 105	218 773	218 868	206 434	201 298	195 994	197 179	211 715	191 322	195 032	198 318	195 222	169 430	161 160	158 676	152 423	135 135	139 180	131 992	132 195	146 393	145 537	146 644	143 817	141 762	142 158	142 786	160 977	161 187	150 709	126 131	123 344	123 722
Deferred Income Tax	1 085	0	0	0	1 402	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	5 505	5 219	5 221	5 225	5 017	9 886	9 611	9 514	9 737	10 327	10 160	10 550	10 805	10 961	11 192	10 968	11 021	10 786	10 599	10 349	9 953	10 188	9 708	9 915	10 352	11 263	11 285	11 534	11 060	10 991	10 547	10 364	10 172	10 393	9 954	9 733	9 661	9 378	9 073	9 606
Other Liabilities	26 476	28 406	28 297	27 943	29 410	29 939	30 369	30 385	30 905	30 798	30 889	30 712	30 611	32 010	31 818	32 443	31 449	43 945	43 091	44 523	42 242	46 152	41 344	39 227	42 282	48 895	46 635	48 517	45 570	40 606	34 204	29 966	26 189	29 133	25 852	23 298	22 902	22 574	24 593	26 037
Total Liabilities	398 744 +4%	383 077 +3%	370 881 -5%	388 859 -2%	396 092 +3%	385 631 -1%	388 125 +2%	379 365 +2%	373 704 +0%	372 706 -4%	387 696 +2%	381 353 -1%	385 196 +1%	381 227 +0%	380 484 +8%	353 536 -3%	364 401 -2%	372 203 +1%	367 710 +9%	336 148 -2%	341 794 +10%	311 564 +4%	298 859 +3%	291 201 -4%	304 277 -2%	310 440 -1%	314 155 +1%	310 119 +0%	309 293 +10%	281 913 -3%	290 983 +5%	277 671 -1%	279 938 -1%	281 713 +3%	272 808 +2%	268 557 0%	269 618 +9%	246 274 -5%	259 812 -2%	265 782 N/A

Equity
Common Stock	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849	69 849
Retained Earnings	417 146	392 708	387 657	381 522	373 512	361 589	345 916	338 343	346 516	359 408	357 438	347 974	344 246	344 084	341 502	328 527	323 479	311 330	304 341	295 730	290 894	289 305	282 710	273 558	267 455	253 093	247 598	233 833	224 926	219 231	207 774	198 969	188 511	180 116	177 368	170 715	167 958	160 335	161 021	163 915
Additional Paid In Capital	70 199	70 199	70 199	70 206	70 199	70 199	70 176	70 194	70 199	71 945	71 946	71 973	71 978	71 944	71 946	71 948	71 948	71 967	71 982	72 043	72 055	72 082	72 080	72 091	72 092	72 086	72 086	72 099	72 099	72 094	72 094	72 094	72 092	72 070	72 070	85 135	85 135	85 135	85 135	85 138
Unrealized Security Profit/Loss	0	0	0	0	0	16 137	13 329	12 654	11 336	19 632	18 330	19 247	21 260	19 045	25 927	25 307	24 659	30 887	26 997	24 912	23 458	27 537	20 044	18 542	20 832	26 339	22 998	29 961	26 394	25 031	23 069	20 986	17 491	18 053	13 332	11 253	7 964	4 961	2 413	2 057
Treasury Stock	0	0	0	0	0	11 204	11 207	11 244	11 264	18 210	12 016	12 065	12 122	12 133	12 136	12 153	12 153	12 277	12 315	12 385	12 407	12 469	12 476	12 528	1 363	1 416	1 402	1 420	1 403	1 388	1 366	1 335	1 347	1 331	1 283	14 346	14 362	14 358	14 418	14 417
Other Equity	20 779	1 821	4 752	5 110	8 737	22 823	24 052	26 601	27 255	21 276	28 511	23 459	16 771	16 086	10 105	16 039	15 940	7 266	12 053	18 184	26 209	22 750	46 147	43 119	21 245	1 870	249	8 122	1 076	11 420	7 134	15 145	12 315	1 495	13 943	16 083	23 132	32 917	49 268	49 799
Total Equity	584 089 +8%	541 149 +2%	530 124 +3%	515 713 +1%	512 875 +6%	483 747 +4%	464 011 +2%	453 195 -1%	459 381 -5%	481 348 +1%	477 036 +1%	473 519 -1%	478 440 +0%	476 703 -2%	486 983 +4%	467 439 +1%	461 842 -1%	464 490 +3%	448 801 +4%	431 965 +3%	417 640 -1%	423 554 +10%	386 060 +2%	378 393 -7%	407 620 -3%	418 081 +2%	411 378 0%	412 444 +5%	392 941 -1%	396 237 +9%	364 286 +5%	345 418 +3%	334 281 -2%	340 252 +7%	317 393 +4%	306 523 +4%	293 412 +7%	273 005 +7%	254 732 -1%	256 743 N/A

Total Liabilities & Equity	982 833 +6%	924 226 +3%	901 005 0%	904 572 0%	908 967 +5%	869 378 +2%	852 136 +2%	832 560 0%	833 085 -2%	854 054 -1%	864 732 +1%	854 872 -1%	863 636 +1%	857 930 -1%	867 467 +6%	820 975 -1%	826 243 -1%	836 693 +2%	816 511 +6%	768 113 +1%	759 434 +3%	735 118 +7%	684 919 +2%	669 594 -6%	711 897 -2%	728 521 +0%	725 533 +0%	722 563 +3%	702 234 +4%	678 150 +3%	655 269 +5%	623 089 +1%	614 219 -1%	621 965 +5%	590 201 +3%	575 080 +2%	563 030 +8%	519 279 +1%	514 544 -2%	522 525 N/A

Shares Outstanding
Common Shares Outstanding	312M	312M	312M	313M	317M	317M	317M	317M	317M	318M	322M	322M	322M	322M	322M	322M	322M	322M	322M	322M	322M	322M	322M	322M	327M	327M	327M	327M	327M	327M	327M	327M	327M	327M	327M	327M	327M	327M	327M	327M

Cash Flow Statement

94.8B

Operating Cash Flow

1 Year	11%
3 Years	16%
5 Years	3%

-37.4B

Capital Expenditures

1 Year	30%
3 Years	29%
5 Years	9%

57.4B

Free Cash Flow

1 Year	78%
3 Years	N/A
5 Years	22%

Currency: JPY

	Mar-2022	Sep-2021	Mar-2021	Sep-2020	Mar-2020	Sep-2019	Mar-2019	Sep-2018	Mar-2018	Sep-2017	Mar-2017	Sep-2016	Mar-2016	Sep-2015	Mar-2015	Sep-2014	Mar-2014	Sep-2013	Mar-2013	Sep-2012	Mar-2012	Sep-2011	Mar-2011	Dec-2010	Sep-2010	Jun-2010	Dec-2009
Operating Cash Flow
Net Income	90 819	86 131	53 120	27 397	43 836	46 568	50 448	67 948	65 772	59 554	57 521	58 279	70 584	69 306	56 390	46 511	37 905	31 855	17 702	(41 824)	(32 468)	30 413	19 224	14 046	10 528	5 258	(15 142)
Depreciation & Amortization	49 270	47 332	44 942	42 453	39 579	37 443	35 728	32 959	30 316	28 277	26 615	26 703	27 365	27 291	25 532	22 360	19 893	19 848	20 089	19 418	18 924	18 999	5 243	242	4 688	77	(6 385)
Other Non-Cash Items	481	2 378	2 082	8 607	9 690	8 872	8 988	(1 174)	(7 633)	(5 750)	536	16 402	4 333	(7 457)	1 733	(2 299)	(6 291)	(2 028)	2 803	38 487	39 276	1 061	(263)	(939)	481	(584)	641
Cash Taxes Paid	8 340	11 506	13 347	17 351	15 032	14 474	18 406	18 355	23 306	23 832	15 234	14 681	12 860	11 664	8 820	8 467	7 218	4 527	8 067	12 704	12 141	8 538	8 078	6 281	4 493	3 947	(21 386)
Cash Interest Paid	3 832	3 720	3 528	3 438	3 275	3 030	2 944	2 772	2 546	2 239	2 060	1 976	1 891	2 030	2 123	2 126	2 074	1 912	1 733	1 512	1 192	1 126	125	(35)	286	144	(354)
Change in Working Capital	(45 740)	(21 120)	(14 502)	(24 910)	(39 906)	(36 914)	(33 938)	(37 903)	(37 901)	(27 974)	(4 501)	(28 103)	(42 839)	(15 392)	(10 654)	(121 093)	(18 859)	66 161	(37 661)	(7 508)	(11 854)	(21 001)	(11 639)	(14 398)	6 728	779	31 084
Cash from Operating Activities	94 830 -17%	114 721 +34%	85 642 +60%	53 547 +1%	53 199 -5%	55 969 -9%	61 226 -1%	61 830 +22%	50 554 -7%	54 107 -33%	80 171 +9%	73 281 +23%	59 443 -19%	73 748 +1%	73 001 N/A	(54 521) N/A	32 648 -72%	115 836 +3 849%	2 933 -66%	8 573 -38%	13 878 -53%	29 472 +135%	12 565 N/A	(1 049) N/A	22 425 +306%	5 530 -46%	10 198 N/A

Investing Cash Flow
Capital Expenditures	(37 428)	(39 462)	(53 342)	(73 002)	(93 798)	(106 106)	(102 826)	(82 825)	(67 061)	(61 239)	(59 361)	(53 330)	(42 693)	(38 027)	(30 260)	(22 545)	(27 995)	(33 229)	(32 275)	(32 097)	(29 202)	(25 030)	(8 721)	(2 308)	(7 556)	(1 028)	7 985
Other Items	(8 863)	(5 940)	1 618	20 623	32 968	9 033	(6 917)	8 891	17 648	(6 214)	2 909	17 609	(5 079)	(8 553)	(9 235)	(6 604)	6 810	18 907	31 693	18 589	(16 236)	(22 867)	41 913	41 886	10 655	5 109	(42 541)
Cash from Investing Activities	(46 291) -2%	(45 402) +12%	(51 724) +1%	(52 379) +14%	(60 830) +37%	(97 073) +12%	(109 743) -48%	(73 934) -50%	(49 413) +27%	(67 453) -19%	(56 452) -58%	(35 721) +25%	(47 772) -3%	(46 580) -18%	(39 495) -35%	(29 149) -38%	(21 185) -48%	(14 322) -2 361%	(582) +96%	(13 508) +70%	(45 438) +5%	(47 897) N/A	33 192 -16%	39 578 +1 177%	3 099 -24%	4 081 N/A	(34 556) N/A

Financing Cash Flow
Net Issuance of Common Stock	(9 700)	(9 701)	(3)	0	(10 004)	0	0	0	(3)	(5)	(11 182)	(11 179)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	13 706
Net Issuance of Debt	(19 022)	(32 163)	23 131	22 063	7 986	17 341	19 090	19 429	35 632	38 791	12 484	8 628	10 662	(8 477)	(17 331)	(3 591)	8 969	27 852	19 047	35 788	63 503	26 525	(18 868)	(17 996)	4 841	3 150	28 857
Cash Paid for Dividends	(15 679)	(9 497)	(11 079)	(15 959)	(16 090)	(16 088)	(15 444)	(14 156)	(13 188)	(12 864)	(12 963)	(12 409)	(10 775)	(9 142)	(8 163)	(7 184)	(6 531)	(6 530)	(6 530)	(6 530)	(6 530)	(6 531)	330	330	982	982	1 146
Other	(862)	(746)	201	259	(688)	(422)	(82)	183	105	(257)	(1 352)	(1 162)	(260)	(635)	(506)	(476)	(412)	(172)	(69)	(74)	(365)	(943)	(131)	355	(96)	5	(812)
Cash from Financing Activities	(45 263) +13%	(52 107) N/A	12 250 N/A	(3 641) +81%	(18 796) N/A	831 -77%	3 564 -35%	5 455 -76%	22 546 -12%	25 665 N/A	(13 013) +19%	(16 122) -4 222%	(373) +98%	(18 254) +30%	(26 000) -131%	(11 251) N/A	2 026 -90%	21 150 +70%	12 448 -57%	29 184 -48%	56 608 +197%	19 051 N/A	(18 669) -8%	(17 311) N/A	5 727 +38%	4 137 -90%	42 897 N/A

Change in Cash
Effect of Foreign Exchange Rates	5 547	4 908	5 172	957	(2 866)	(5 012)	(980)	(1 236)	1 538	8 510	(2 079)	(9 862)	(3 850)	(188)	1 329	2 745	3 446	6 068	2 897	(5 368)	(2 904)	858	(5 438)	(5 408)	(3 538)	489	6 612
Net Change in Cash	8 823 -60%	22 120 -57%	51 340 N/A	(1 516) +95%	(29 293) +35%	(45 285) +1%	(45 933) -483%	(7 885) N/A	25 225 +21%	20 829 +141%	8 627 -25%	11 576 +55%	7 448 -15%	8 726 -1%	8 835 N/A	(92 176) N/A	16 935 -87%	128 732 +627%	17 696 -6%	18 881 -15%	22 144 +1 392%	1 484 -93%	21 650 +37%	15 810 -43%	27 713 +95%	14 237 -43%	25 151 N/A

Free Cash Flow
Free Cash Flow	57 402 -24%	75 259 +133%	32 300 N/A	(19 455) +52%	(40 599) +19%	(50 137) -21%	(41 600) -98%	(20 995) -27%	(16 507) -131%	(7 132) N/A	20 810 +4%	19 951 +19%	16 750 -53%	35 721 -16%	42 741 N/A	(77 066) N/A	4 653 -94%	82 607 N/A	(29 342) -25%	(23 524) -54%	(15 324) N/A	4 442 +16%	3 844 N/A	(3 357) N/A	14 869 +230%	4 502 -75%	18 183 N/A

NGK Insulators Ltd (TSE:5333)

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Balance Sheet

Cash Flow Statement

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