Financial/Non-Financial Data

Financial Information

10-Year Financial Summary

(Unit: Million yen)
  Japanese GAAP IFRS
  FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Fiscal Year under Review on a Consolidated Basis
Revenue 457,053 422,317 458,732 425,794 479,490 412,072 359,682 346,149 349,958 409,200
Cost of sales 385,939 352,716 381,258 355,176 399,329 338,031 300,307 288,671 295,716 355,790
Selling, general and administrative expenses 31,979 33,768 39,414 35,755 37,418 36,521 33,531 32,581 33,896 38,471
Operating income 39,133 36,047 39,279 34,557 47,346 38,793 26,326 26,742 22,998 15,257
Income attributable to owners of parent 23,900 22,585 23,528 19,622 30,115 25,750 15,064 20,741 12,416 5,343
Basic earnings per share (Yen)* 175.75 166.08 173.01 144.29 221.45 189.35 110.77 152.89 92.56 41.35
Operating margin (%) 8.6 8.5 8.6 8.1 9.9 9.4 7.3 7.7 6.6 3.7
Return on equity attributable to owners of parent (ROE) (%) 13.1 12.8 12.1 9.6 13.4 10.5 5.9 7.8 4.3 1.8
Return on assets (ROA) (%) 18.2 14.3 13.6 11.4 14.7 11.7 8.2 9.9 6.4 4.5
Effective statutory tax rate (%) 37.2 34.8 32.3 30.1 30.1 29.9 29.9 29.9 29.9 29.9
Average actual tax rate (%) 28.7 31.2 27.8 29.9 22.7 25.0 29.7 22.5 27.2 42.0
Average exchange rate (USD to Yen) 100.2 109.9 120.1 108.4 110.8 110.9 108.7 106.1 112.4 135.5
Average exchange rate (USD to Yuan) 15.9 17.7 18.9 16.1 16.7 16.5 15.6 15.7 17.5 19.8
Capital expenditures 19,960 19,754 17,064 11,199 8,640 7,412 7,619 6,686 14,466 14,606
Depreciation 8,628 7,860 9,314 9,036 9,676 9,778 10,225 9,616 9,204 10,005
R&D expenses 11,635 12,900 13,168 12,382 11,986 12,709 12,374 12,533 11,930 14,344
Total at End of Fiscal Year
Total assets 264,635 296,858 303,948 322,202 351,944 358,265 341,820 390,478 415,985 416,226
Property, plant and equipment 62,253 74,349 76,338 76,576 73,532 71,515 68,530 69,053 76,860 83,874
Interest-bearing liabilities 2,106 5,650 4,335 3,506 4,182 1,742 4,014 5,228 6,030 4,822
Total equity 170,714 216,502 219,092 230,989 259,924 277,424 274,552 301,450 325,583 323,458
Shareholders’ equity 143,718 170,545 189,497 204,800 229,866 249,904 259,233 271,278 275,144 265,756
Cash Flows
Cash flows from operating activities 43,600 35,056 47,531 34,045 48,406 43,806 44,193 25,151 20,018 30,445
Cash flows from investing activities (18,233) (22,771) (25,299) (12,409) (12,742) (18,321) (5,366) (11,709) (17,196) (20,970)
Cash flows from financing activities (8,898) (11,231) (12,319) (14,214) (11,858) (16,390) (12,917) (14,647) (23,638) (18,860)
Free cash flows 25,367 12,285 22,232 21,636 35,664 25,485 38,827 13,442 2,822 9,475
Revenue per Consolidated Segment
Japan 104,895 85,899 92,071 91,830 93,552 92,856 75,134 78,866 82,698 84,943
The Americas 214,628 219,534 247,087 213,008 224,867 195,604 176,346 141,924 144,527 194,015
China 104,063 91,057 96,513 94,990 121,266 89,187 82,729 117,652 115,236 117,800
Asia and Europe 67,811 58,727 59,257 59,825 76,041 66,822 51,967 34,021 34,202 40,164
Overseas revenue 379,382 362,463 395,571 361,980 412,249 342,496 303,544 288,303 289,660 348,854
Overseas revenue ratio (%) 83.0 85.8 86.2 85.0 86.0 83.1 84.4 83.3 82.8 85.3
Stock Information
Cash dividends per share* 27 30 33 35 40 42 43 45 54 63
Consolidated price to earnings ratio (PER) (Times) 8.9 9.8 7.6 10.4 9.5 8.4 11.5 10.8 14.9 40.6
Consolidated dividends payout ratio (%) 15.4 18.1 19.1 24.3 18.1 22.2 38.8 29.4 58.3 152.4
  • ROE：Income attributable to owners of parent/Total equity attributable to owners of parent (Average)
  • ROA：Income before income tax/Total assets (Average)
  • The company implemented a two-for-one stock split of its common shares, effective April 1, 2021.

Non-Financial Information

Environmental

Environmental Accounting

Environmental Conservation Cost (Non-consolidated)
(Unit: Million yen)
Main Efforts FY2019 FY2020 FY2021 FY2022 FY2023
Investment Cost Investment Cost Investment Cost Investment Cost Investment Cost
Business area cost Pollution prevention cost Prevention of air, water, and soil pollution, etc. 46 10 6 11 12 10 21 15 22 27
Global environmental conservation cost Prevention of global warming and ozone depletion and other environmental preservation efforts 615*1 95 208 62 176 43 561*2 71 596*3 32
Resource circulation cost Recycling, waste treatment and disposal, and water-saving efforts 11 173 7 56 25 71 13 59 1 67
Upstream/downstream cost Costs generated from purchasing low environmental impact products and raw materials 38 13 48 3 5 1 7 3 3 1
Administration cost EMS development & operation costs, environmental measurement costs, office interior “greening” and development costs 24 63 62 82 15 60 48 46 46 74
R&D cost Research and development of new technology with a high positive environmental impact, such as reducing the weight of products, reducing VOCs (not using paints), and developing recyclable materials – 3,630 9 4,184 10 4,000 2 4,447 14 4,215
Social activity cost Environmental measures such as nature protection, “greening,” and scenery preservation 4 4 – 2 – 1 1 1 – 2
Environmental remediation cost Remediation of soil pollution, etc. – – – – – – – – – –
Total 738 3,988 339 4,399 243 4,186 652 4,642 682 4,418
  • Expenses related to construction of the new Head Office building.
  • Expenses related to construction of the new building at the Hamamatsu Plant.
  • Expenses related to solar power generation equipment at the Saitama, Hamamatsu, and Suzuka plants.
  • The above figures include portions ascertained by estimation, such as apportionment.
  • Materials related to environmental accounting, such as guidelines and guidebooks published by the Ministry of the Environment of Japan, were referenced when preparing the spreadsheet.
  • Costs do not include depreciation costs.
Economic Effects (Non-consolidated)
(Unit: Thousand yen)
  FY2019 FY2020 FY2021 FY2022 FY2023
Gain on sale of valuables 8,143 4,613 5,073 9,654 13,645
Cost saved by energy conservation 26,690 16,073 4,169 3,448 3,975
Total 34,833 20,686 9,242 13,102 17,620
Material Effects (Non-consolidated)
  (Unit) FY2019 FY2020 FY2021 FY2022 FY2023
Energy consumption GJ 205,251 166,002 154,488 161,867 164,634
Water consumption 1,000m3 77 81 62 51 54
CO2 emissions t-CO2 10,361 8,394 6,671 4,903 2,581
CO2 emissions due to transportation t-CO2 2,108 1,845 1,449 1,467 1,431
Total waste output t 1,075 1,062 1,120 1,384 1,495
VOC emissions t 50 28 16 18 27
PRTR emissions t 0 0 0 0 0

Social

In-House Training Sessions and Related Data (Non-consolidated)

  FY2019 FY2020 FY2021 FY2022 FY2023
Human rights/diversity training (Number of times) 8 8 7 8 8
Training time per employee (Hours) 7.6 8.8 11.1 9.8 9.3
Training expenditures (Million yen) 70.0 84.4 21.6* 34.6* 34.3*
Training expenditures per employee (Yen) 40,814 49,252 12,456* 19,634* 20,060*
  • Training expenditures have decreased significantly due to postponement and revised modalities for training sessions as part of efforts to prevent the spread of COVID-19.

In-House Training Sessions: Number of Attendees (Non-consolidated)

(Unit: Persons)
  FY2019 FY2020 FY2021 FY2022 FY2023
Practical training sessions for risk assessment*1 42 28 0*2 0*2 0*2
Mental health seminars 80 108 70*2 61*2 73*2
  • Seminars held for company employees. We have also held “Risk Assessment Training Regarding Specified Chemical Substances” since fiscal 2017.
  • Practical training sessions for risk assessment have been canceled in order to prevent the spread of COVID-19. For the same reason, mental health seminars have been held less often, canceled, or held using a different method, depending on the risk of infection in each workplace.

Employment-related (Non-consolidated)

  FY2019 FY2020 FY2021 FY2022 FY2023
Percentage of managers who are women (%) 1.9 2.3 2.6 2.9 2.7
Percentage of employees with a disability (%)
Note: Designated employment rate: 2.3%		 2.4 2.6 2.7 2.7 3.0
Percentage of employees who are non-Japanese (%) 0.7 0.5 0.6 0.6 0.6
Number of new graduates hired (Persons) 50 54 47 48 46
Number of employees who leave within three years of hiring (Persons) 0 5 5 2 5
Turnover rate within three years of hiring (%) 0.0 8.9 9.6 4.0 9.3
Percentage of employees hired mid-career*1 (%) 10.7 18.2 6.0 12.7 22.6
Engagement score*2 (31.7) (29.8) (30.4) 42.1 40.9
  • The percentage of employees hired mid-career among employees hired for regular employment
  • Parenthetical values for fiscal 2019 to fiscal 2021 show satisfaction survey-based DI values. As of fiscal 2022, scores are based on Link and Motivation Inc.’s Motivation Cloud.

Major Personnel Data (As of March 31; Full-time employees only) (Non-consolidated)

  FY2019 FY2020 FY2021 FY2022 FY2023
Number of employees by gender*1 (Persons) Male 1,531 1,524 1,551 1,573 1,526
Female 185 191 187 190 184
Total 1,716 1,715 1,738 1,763 1,710
Average years of service*1(Years) Male 16.3 16.6 17.2 17.8 18.0
Female 15.1 15.0 15.8 16.2 16.2
Total 16.2 16.5 17.1 17.6 17.9
Gender wage gap for workers*2(%) All employees 70.0 71.4 72.3 72.4 71.9
Regular workers 78.3 79.2 78.6 77.7 76.5
Part-time and fixed-term contract workers 60.2 57.4 60.2 64.6 77.3
  • Only for regular workers
  • Ratio of average annual wages of female employees to average annual wages of male employees

Maternity, Childcare, and Nursing Care Leave Data (Non-consolidated)

  FY2019 FY2020 FY2021 FY2022 FY2023
Percentage of employees taking paid leave (%) 98.3 99.6 96.6 99.4 104.1
Percentage of employees using half-day vacations (%) 56.7 58.4 58.4 65.7 66.4
Number of employees using maternity leave (Persons) 8 3 6 11 9
Number of employees using childcare leave (Persons) Male 3 4 8 13 27
Female 8 6 6 10 9
Total 11 10 14 23 36
Percentage of employees using childcare leave (%) Male 4 5 11 19 43
Female 100 100 100 100 90
Total 19 13 19 29 58
Rate of return to work after childcare leave (%) Male 100 100 100 100 100
Female 100 100 100 100 88
Total 100 100 100 100 97
Number of employees using shorter working hours system for children (Persons) Male 1 2 2 2 6
Female 8 17 15 15 18
Total 9 19 17 17 24
Number of employees using nursing care leave (Persons) Male 0 0 1 1 0
Female 0 0 0 0 0
Total 0 0 1 1 0

Labor Union Data (Non-consolidated)

  FY2019 FY2020 FY2021 FY2022 FY2023
Number of employees affiliated with the labor union (Persons) 1,491 1,491 1,504 1,504 1,457
Percentage of employees affiliated with the labor union* (%) 98 98 98 96 96
  • Calculations exclude managers

Industrial Accident Circumstances (Non-consolidated) [Consolidated]

  FY2019 FY2020 FY2021 FY2022 FY2023
Number of deaths (Persons) 0[0] 0[0] 0[0] 0[0] 0[0]
Number of industrial accident injuries (lost worktime accidents) (Persons) 1[59] 2[36] 0[36] 1[25] 0[11]
Frequency rate*1 (%) 0.25 [1.49] 0.52 [0.99] 0.00 [1.03] 0.27 [0.75] 0.00 [0.31]
Severity rate*2 (%) 0.00 [0.02] 0.01 [0.02] 0.00 [0.03] 0.01 [0.01] 0.00 [0.01]
  • Expresses the frequency of accident occurrences as the number of fatalities and injuries due to industrial accidents per million hours worked
  • Expresses the degree of severity of an accident as the number of working days lost per thousand hours worked. However, this is limited to industrial accidents causing one or more lost working days.

Number of Patents Held

(Unit: Activities)
  FY2019 FY2020 FY2021 FY2022 FY2023
Domestic 968 1,180 1,260 1,401 1,565
Overseas 543 644 704 800 864

Number of Social Contribution Activities Conducted (Consolidated)

(Unit: Activities)
FY2019 FY2020 FY2021 FY2022 FY2023
277 285 188* 155* 213*
  • Some social contribution activities have been canceled or postponed as part of efforts to prevent the spread of COVID-19.

Number of Social Contribution Activities Conducted in FY2023

(Unit: Activities)
  Japan The Americas China Asia and Europe Total
Economic assistance 15 56 7 19 97
Social contribution activities 41 53 10 12 116

Social Contribution Activity Expenditures (Non-consolidated)

(Unit: Thousand yen)
FY2019 FY2020 FY2021 FY2022 FY2023
50,019 41,824 17,303*1 282,063*2 43,440
  • Some social contribution activities have been canceled or postponed as part of efforts to prevent the spread of COVID-19.
  • Includes facility repair expenses for Konosu Flower Stadium (Saitama Prefecture), the base venue for the activities of the baseball club.

Improvement Initiatives (Consolidated)

  FY2019 FY2020 FY2021 FY2022 FY2023
Number of participating teams*1 489 483 –*2 334 367
  • Improvement activities undertaken by small groups. Generally referred to as a “QC (Quality Control) Circle,” the activities are aimed at developing human resources who can use the QC method to solve problems and manage and improve operations.
  • Activities were not implemented to prevent the spread of COVID-19.

Dialogue with Stockholders and Investors

  FY2019 FY2020 FY2021 FY2022 FY2023
General Meeting of Shareholders: Number of attendees 441 12*1 9*1 7*1 18
Events for individual investors: Number of attendees 88 264 0*2 0*2 0*2
IR/SR interviews: Number of companies (Including small meetings and conference calls) 229 168 355 266 290
  • To prevent the spread of COVID-19, shareholders were asked to refrain from attending the venue.
  • Events for individual investors were canceled to prevent the spread of COVID-19.

Governance-Related Data

(Unit: Cases)
  FY2019 FY2020 FY2021 FY2022 FY2023
Fines and penalties for anti-competitive practices (Consolidated) 0 0 0 0 0
Cases recognized as corruption or bribery (Consolidated) 0 0 0 0 0
Number of political donations (Non-consolidated) 0 0 0 0 0
ESG Topics Overview of Information Disclosure GRI Standards Content Index External Recognition and Selection as a Constituent in Indices List of Policies and Codes Financial/Non-Financial Data Integrated Report / TS TECH Report