Statements of
Income(Millions of yen/%)

FY2015 FY2016 FY2017 FY2018 FY2019
Net sales 16,035 17,896 19,199 21,691 22,665
Net sales growth 119.8% 111.6% 107.3% 113.0% 104.5%
Gross profit 7,050 8,065 8,498 9,438 9,365
Gross profit to net sales 44.0% 45.1% 44.3% 43.5% 41.3%
Selling, general and administrative expenses 276 683 962 1,012 998
Operating income 6,773 7,382 7,536 8,426 8,366
Operating income to net sales 42.2% 41.2% 39.3% 38.8% 36.9%
Ordinary income 6,224 6,779 7,220 8,279 8,167
Ordinary income to net sales 38.8% 37.9% 37.6% 38.2% 36.0%
Net income attributable to owners of parent 5,612 11,120 6,547 6,756 6,108
Net income attributable to owners of parent to net sales 35.0% 62.1% 34.1% 31.1% 27.0%

Balance
Sheet(Millions of yen/%)

FY2015 FY2016 FY2017 FY2018 FY2019
[Assets]
Current assets 14,098 28,631 30,710 17,850 11,362
Non-current assets 94,116 116,811 148,296 163,947 158,539
Property, plant and equipment 92,084 108,102 139,924 156,119 151,997
Intangible assets 11 2,625 2,402 2,183 1,956
Investments and other assets 2,020 6,083 5,968 5,644 4,585
Total assets 108,215 145,442 179,006 181,798 169,902
[Liabilities]
Current liabilities 13,662 15,822 15,619 14,965 14,817
Non-current liabilities 81,081 64,860 60,141 56,829 47,022
Total liabilities 94,744 80,682 75,760 71,794 61,839
[Net assets]
Shareholders' equity 13,413 64,759 103,246 110,003 108,062
Capital stock 4,097 21,621 37,591 37,591 37,591
Capital surplus 2,290 19,814 35,784 35,784 35,784
Retained earnings 7,025 23,324 29,871 36,628 42,736
Treasury shares △1 △1 △1 △1 △8,050
Subscription rights to shares 58
Total net assets 13,471 64,759 103,246 110,003 108,062
Total liabilities and net assets 108,215 145,442 179,006 181,798 169,902

Statements of
Cashflows(Millions of yen/%)

FY2015 FY2016 FY2017 FY2018 FY2019
Cash flows from operating activities 13,919 13,694 10,828 20,791 11,641
Cash flows from investing activities △14,931 △12,201 △30,628 △21,941 △347
Cash flows from financing activities 4,674 11,748 22,779 △10,089 △17,959
Cash and cash equivalents at end of period 10,929 24,170 27,149 15,909 9,243

Other Indicators

FY2015 FY2016 FY2017 FY2018 FY2019
Book-value per share(Yen) 48.52 126.27 133.28 142.00 151.62
Earnings per share(Yen) 20.30 34.28 10.69 8.72 7.89
Ratio of shareholders' equity to total assets(%) 12.4 44.5 57.7 60.5 63.6
Return on equity(%) 52.9 17.2 7.8 6.3 5.6
Price earnings ratio(times) 5.81 4.08 11.50 12.5 10.8

※Figures of FY2015 is of non-consolidated financial statement.