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Consolidated Financial Statements

Consolidated Financial Statements
（Japanese GAAP）

(Million Yen)
March
2022		 March
2023		 March
2024		 March
2025		 March
2026
Operating Results
Net Sales 31,285 34,087 35,423 34,804 34,576
High-Pressure Gas 20,197 20,386 21,035 21,160 20,638
Espuma ー 1,697 1,791 1,760 1,786
Instrumentation & Equipment 8,974 9,686 10,524 9,513 9,227
Automotive Equipment 584 1,170 642 997 953
Ice Making Machine 1,176 864 1,192 1,102 1,706
Other 353 281 237 269 265
Operating Profit 1,228 1,522 2,116 1,914 1,900
High-Pressure Gas 1,712 1,512 2,091 1,917 1,909
Espuma ー 490 483 536 521
Instrumentation & Equipment 267 353 501 332 262
Automotive Equipment – 27 46 – 7 22 13
Ice Making Machine 15 42 119 207 321
Other 53 47 48 56 53
Reconciling Items（All company eliminate） -794 -970 -1,121 -1,157 -1,180
Ordinary Profit 1,354 1,684 2,441 2,170 2,109
Profit attributable to owners of parent 823 988 1,415 1,287 1,286
Basic Earnings per Share（Yen） 23.74 28.48 40.74 37.03 36.99
Financial Position
Total Assets 30,271 31,364 33,660 33,642 33,962
Current Assets 17,978 19,209 20,308 19,489 18,962
Non-Current Assets 12,293 12,154 13,351 14,152 11,628
Total Liabilities 12,710 13,034 14,182 13,249 12,643
Current Assets 10,605 10,998 11,892 10,881 10,263
Non-Current Assets 2,104 2,036 2,289 2,368 2,380
Net Assets 17,561 18,329 19,478 20,392 21,318
Own Capital 15,825 16,475 17,501 18,304 19,142
Cash Flow
Cash Flows From Operating Activities 1,781 1,105 2,406 2,231 2,399
Cash Flows From Investing Activities -684 -443 -1,463 -993 -1,704
Cash Flows From Financing Activities -630 -454 -492 -730 -746
Free Cash Flow 1,097 662 943 1,238 695
Index
Equity-to-Assets Ratio（％） 52.28 52.53 52.00 54.41 56.37
Operating Income Margin（％） 3.93 4.47 5.98 5.50 5.50
Rate of Return On Equity（％） 5.30 6.12 8.33 7.19 6.87
Return On Asset（％） 4.53 5.47 7.51 6.45 6.21
Net Debt to Equity（Double） -0.30 -0.30 -0.30 -0.31 -0.30
Manufacturing Costs 1,140 523 1,253 902 1,626
Depreciation 654 678 672 729 800
Research and Development Expenses 43 40 36 35 36
Interest-Bearing Liabilities 3,604 3,611 3,831 3,836 3,749
Number of Employees（Non-consolidated） 131 124 121 119 128
Number of Employees（Consolidated） 778 773 764 761 763
Group Companies（Consolidated） 19 18 18 18 18
Investment In Entities Accounted
(subsidiary companies, equity method affiliate）		 16,3 15,3 15,3 15,3 15,3
Total Number of Issue Shares 7,004,000 7,004,000 35,020,000 35,020,000 35,020,000
Number of Shareholders
（Exclude shareholdings less than one unit ）		 6,421 6,051 7,900 11,856 11,276
Dividend paid per Share（Yen） 50 60 70 14 14
Dividend Payout Ratio（％） 60.40 69.34 54.54 59.52 58.16
Foreigner Shareholders（％） 0.73 0.76 6.34 4.66 2.54
Price Earnings Ratio（Consolidated）（Double） 9.82 9.52 9.77 9.72 11.90
1. Accounting Standard for Revenue Recognition has been applied since the beginning of April 2021.
2. Our company conducted a stock split at a ratio of five shares for every one share in January 1, 2024.
Basic earnings per share was calculated assuming that the stock split was conducted at the beginning of the consolidated fiscal year ended March 31, 2020. However, the total dividend we have provided is based on the amounts prior to the stock split.