Business Performance & Sales Objective

Profitability

	2020/3	2021/3	2022/3	2023/3	2024/3
Ratio of Operating Income to Net Sales (%)	△3.18	△14.61	△7.20	△1.70	△1.54
Ratio of Ordinary Income to Net Sales (%)	△1.53	△12.74	△6.56	△1.34	△1.17
Ratio of Net Income to Net Sales (%)	△6.17	△26.09	△14.40	23.95	1.01

Stability

	2020/3	2021/3	2022/3	2023/3	2024/3
Equity Ratio (%)	37.21	26.89	21.61	34.41	33.71
Current Ratio (%)	77.68	119.63	104.36	138.78	126.09
Interest Coverage Ratio (Times)	6.3	0.5	-2.4	0.1	-8.6

Note: Interest Coverage Ratio = Cash Flows from Operating Activities / Amount of Interest Paid

Efficiency

	2020/3	2021/3	2022/3	2023/3	2024/3
Total Asset Turnover (Times)	0.61	0.48	0.73	0.79	0.71
Net Assets Turnover (Times)	1.60	1.49	3.00	2.75	2.09
Fixed Asset Turnover (Times)	0.87	0.79	1.44	1.81	1.48

Note: Total Assets, Net Assets and Fixed Assets are calculated from the averages of the beginning and the end of the period.

Productivity

	2020/3	2021/3	2022/3	2023/3	2024/3
Net Sales per Employee (Thousands of Yen)	31,694	21,678	29,071	35,206	40,676
Net Income per Employee (Thousands of Yen)	△1,957	△5,656	△4,187	8,430	412
Number of Employees (Persons)	730	866	827	776	635

Note: Net Sales per Employee and Net Income per Employee are calculated based on the average number of employees during the period.

Cash Flows

	2020/3	2021/3	2022/3	2023/3	2024/3
Cash Flows from Operating Activities (Millions of Yen)	1,233	95	△481	19	△1,876
Depreciation Expense (Millions of Yen)	1,478	1,289	1,138	1,110	1,059
Capital Expenditure (Millions of Yen)	291	432	792	710	10,568

Investment Indices

	2020/3	2021/3	2022/3	2023/3	2024/3
Return on Equity [ROE] (%)	△9.9	△38.9	△43.2	65.8	2.1
Return on Assets[ROA] (%)	△0.9	△6.1	△4.8	△1.1	△0.8

Note: Total Assets and Shareholders' Equity are calculated from the averages of the beginning and the end of the period.