Comparative Consolidated Balance Sheets (Summary)

(Millions of yen)

FY2013
As of March 31,
2014		 FY2014
Second quarter
As of September 30,
2014
ASSETS
Current assets 11,770 13,197
Fixed assets 8,469 9,064
Total assets 20,240 22,262
LIABILITIES
Current liabilities 8,892 8,730
Fixed Liabilities 6,606 6,677
Total liabilities 15,499 15,407
NET ASSETS
Total net assets 4,741 6,854
Total liabilities and net assets 20,240 22,262

Balance sheet
Total assets rose ¥2,021 million in comparison with the previous fiscal year end to ¥22,262 million. Current assets increased ¥1,426 million, due to increases in inventory assets and accounts receivable, among other items. Fixed assets grew ¥595 million, paced by an increase in capital investment. The current ratio improved 18.8 points in comparison with the previous fiscal year end to 151%.

Comparative Consolidated Profit and Loss Statements (Summary)

(Millions of yen)

Six months ended
September 30, 2013
 Six months ended
September 30, 2014
Net sales 13,358 14,262
Cost of sales 10,540 11,039
Selling, general and administrative expenses 2,479 2,720
Operating income 338 502
Ordinary income 294 434
Net Income before Income Taxes 306 547
Net income 266 318

Income statement
The increase in net sales drove operating income up 48.3% and ordinary income up 47.3% YoY. Net income rose 19.4% YoY to ¥318 million, due to an increase in tax costs as well as increased minority interests in subsidiaries resulted from a transfer of subsidiary shares.

Comparative Consolidated Statements of Cash Flows (Summary)

(Millions of yen)

Six months ended
September 30, 2013		 Six months ended
September 30, 2014
Cash flows from operating activities 745 751
Cash flows from investing activities -476 128
Cash flows from financing activities 146 -959
Cash and cash equivalents at the end of quarter 2,832 2,898

Cash Flow
Funds from investment activities increased ¥128 million YoY (after decreasing ¥476 million in the previous fiscal year). Capital investment decreased funds, but the sale of some shares in Company subsidiaries increased funds.