Statements of
Income(Millions of yen/%)

FY2014 FY2015 FY2016 FY2017 FY2018
Net sales 13,389 16,035 17,896 19,199 21,691
Net sales growth 396.4% 119.8% 111.6% 107.3% 113.0%
Gross profit 5,854 7,050 8,065 8,498 9,438
Gross profit to net sales 43.7% 44.0% 45.1% 44.3% 43.5%
Selling, general and administrative expenses 250 276 683 962 1,012
Operating income 5,604 6,773 7,382 7,536 8,426
Operating income to net sales 41.9% 42.2% 41.2% 39.3% 38.8%
Ordinary income 4,796 6,224 6,779 7,220 8,279
Ordinary income to net sales 35.8% 38.8% 37.9% 37.6% 38.2%
Net income attributable to owners of parent 4,064 5,612 11,120 6,547 6,756
Net income attributable to owners of parent to net sales 30.4% 35.0% 62.1% 34.1% 31.1%

Balance
Sheet(Millions of yen/%)

FY2014 FY2015 FY2016 FY2017 FY2018
[Assets]
Current assets 10,706 14,098 28,631 30,710 17,850
Non-current assets 82,393 94,116 116,811 148,296 163,947
Property, plant and equipment 80,937 92,084 108,102 139,924 156,119
Intangible assets 13 11 2,625 2,402 2,183
Investments and other assets 1,442 2,020 6,083 5,968 5,644
Total assets 93,100 108,215 145,442 179,006 181,798
[Liabilities]
Current liabilities 12,424 13,662 15,822 15,619 14,965
Non-current liabilities 72,817 81,081 64,860 60,141 56,829
Total liabilities 85,241 94,744 80,682 75,760 71,794
[Net assets]
Shareholders' equity 7,800 13,413 64,759 103,246 110,003
Capital stock 4,097 4,097 21,621 37,591 37,591
Capital surplus 2,290 2,290 19,814 35,784 35,784
Retained earnings 1,412 7,025 23,324 29,871 36,628
Treasury shares △1 △1 △1 △1 △1
Subscription rights to shares 58 58
Total net assets 7,858 13,471 64,759 103,246 110,003
Total liabilities and net assets 93,100 108,215 145,442 179,006 181,798

Statements of
Cashflows(Millions of yen/%)

FY2014 FY2015 FY2016 FY2017 FY2018
Cash flows from operating activities 13,034 13,919 13,694 10,828 20,791
Cash flows from investing activities △32,077 △14,931 △12,201 △30,628 △21,941
Cash flows from financing activities 21,412 4,674 11,748 22,779 △10,089
Cash and cash equivalents at end of period 7,266 10,929 24,170 27,149 15,909

Other Indicators

FY2014 FY2015 FY2016 FY2017 FY2018
Book-value per share(Yen) 28.22 48.52 126.27 133.28 142.00
Earnings per share(Yen) 14.70 20.30 34.28 10.69 8.72
Ratio of shareholders' equity to total assets(%) 8.4 12.4 44.5 57.7 60.5
Return on equity(%) 70.5 52.9 17.2 7.8 6.3
Price earnings ratio(times) 11.43 5.81 4.08 11.50 12.5

※Figures of FY2014 and FY2015 are of non-consolidated financial statements.