Financials

Snow Brand Milk Products: FYE Mar 2009 and ten years of results (34 metrics)

FYE Mar 2009 · Revenue¥295bnYoY +2.7%

FYE Mar 2009 · Operating profit¥11bnYoY +29.6%

FYE Mar 2009 · Net profit¥7.8bnYoY +12.6%

FYE Mar 2009 · Equity ratio34.4%YoY +0.5pp

FYE Mar 2009 · Group employees2,679YoY +35

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2000Consolidated	¥1.29tn	n/a	n/a	n/a	n/a	-¥29bn	—	—
FYE Mar 2001Consolidated	¥1.14tn	−11.4%	n/a	n/a	n/a	-¥53bn	—	Mass food poisoning from low-fat milk made at the Osaka plant; 13,420 people harmed
FYE Mar 2002Consolidated	¥1.16tn	+2.1%	n/a	n/a	n/a	-¥72bn	—	—
FYE Mar 2003Consolidated	¥727bn	−37.6%	n/a	n/a	n/a	-¥27bn	Takanose Tadaaki	The subsidiary Snow Brand Foods is exposed for passing imported beef off as domestic
FYE Mar 2004Consolidated	¥318bn	−56.3%	n/a	n/a	n/a	¥1.4bn	Takanose Tadaaki	Market milk transferred to Nippon Milk Community; the <em>Megmilk</em> brand launched
FYE Mar 2005Consolidated	¥283bn	−10.9%	n/a	n/a	n/a	¥6.9bn	Takanose Tadaaki	Back in the black on sales cut to a third by the separations
FYE Mar 2006Consolidated	¥280bn	−1.2%	¥9.2bn	n/a	3.3%	¥7.1bn	Takanose Tadaaki	Delisting from the First Section of the Osaka Stock Exchange
FYE Mar 2007Consolidated	¥277bn	−1.0%	¥9.2bn	−0.3%	3.3%	¥7.4bn	Takanose Tadaaki	—
FYE Mar 2008Consolidated	¥287bn	+3.5%	¥8.1bn	−11.7%	2.8%	¥7.0bn	Takanose Tadaaki	—
FYE Mar 2009Consolidated	¥295bn	+2.7%	¥11bn	+29.6%	3.6%	¥7.8bn	Takanose Tadaaki	—

How it compares

Meiji Holdings¥1.17tnFY2025Operating margin 7.9%

Meiji Dairies CorporationDelisted 2009

MEGMILK SNOW BRAND¥616bnFY2025Operating margin 3.0%Morinaga Milk Industry¥571bnFY2025Operating margin 6.0%

Snow Brand Milk ProductsDelisted 2009

B-R 31 ICE CREAM CO.,LTD.¥34bnFY2025Operating margin 8.1%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2009 ¥295bn

CAGR · 10 yrs −15.1%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2000	1,288	n/a	Cons. · Japanese GAAP
FYE Mar 2001	1,141	−11.4%	Cons. · Japanese GAAP
FYE Mar 2002	1,165	+2.1%	Cons. · Japanese GAAP
FYE Mar 2003	727	−37.6%	Cons. · Japanese GAAP
FYE Mar 2004	318	−56.3%	Cons. · Japanese GAAP
FYE Mar 2005	283	−10.9%	Cons. · Japanese GAAP
FYE Mar 2006	280	−1.2%	Cons. · Japanese GAAP
FYE Mar 2007	277	−1.0%	Cons. · Japanese GAAP
FYE Mar 2008	287	+3.5%	Cons. · Japanese GAAP
FYE Mar 2009	295	+2.7%	Cons. · Japanese GAAP

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Mar 2009 ¥226bn

CAGR · 4 yrs +1.8%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	214	n/a	Cons. · Japanese GAAP
FYE Mar 2007	213	−0.6%	Cons. · Japanese GAAP
FYE Mar 2008	221	+3.9%	Cons. · Japanese GAAP
FYE Mar 2009	226	+2.1%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2009 ¥69bn

CAGR · 4 yrs +1.5%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	65.9	n/a	Cons. · Japanese GAAP
FYE Mar 2007	64.6	−2.1%	Cons. · Japanese GAAP
FYE Mar 2008	66.0	+2.2%	Cons. · Japanese GAAP
FYE Mar 2009	69.0	+4.6%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2009 ¥59bn

CAGR · 4 yrs +1.0%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	56.7	n/a	Cons. · Japanese GAAP
FYE Mar 2007	55.4	−2.3%	Cons. · Japanese GAAP
FYE Mar 2008	57.9	+4.5%	Cons. · Japanese GAAP
FYE Mar 2009	58.5	+1.1%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Mar 2009 ¥11bn

CAGR · 4 yrs +4.5%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	9.2	n/a	Cons. · Japanese GAAP
FYE Mar 2007	9.2	−0.3%	Cons. · Japanese GAAP
FYE Mar 2008	8.1	−11.7%	Cons. · Japanese GAAP
FYE Mar 2009	10.5	+29.6%	Cons. · Japanese GAAP

Definition: What the core business earns
Formula: Gross profit − SG&A
Source: Securities report (XBRL)

Non-operating income

FYE Mar 2009 ¥4.1bn

CAGR · 4 yrs +5.7%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2007	4.1	+18.5%	Cons. · Japanese GAAP
FYE Mar 2008	4.1	−0.0%	Cons. · Japanese GAAP
FYE Mar 2009	4.1	−0.3%	Cons. · Japanese GAAP

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Mar 2009 ¥2.0bn

CAGR · 4 yrs −17.7%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	3.5	n/a	Cons. · Japanese GAAP
FYE Mar 2007	2.6	−25.4%	Cons. · Japanese GAAP
FYE Mar 2008	2.6	−0.5%	Cons. · Japanese GAAP
FYE Mar 2009	2.0	−24.7%	Cons. · Japanese GAAP

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Ordinary profit keijo rieki

FYE Mar 2009 ¥13bn

CAGR · 10 yrs −5.9%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2000	21.8	n/a	Cons. · Japanese GAAP
FYE Mar 2001	-58.9	−370.2%	Cons. · Japanese GAAP
FYE Mar 2002	-35.3	n/a	Cons. · Japanese GAAP
FYE Mar 2003	-26.8	n/a	Cons. · Japanese GAAP
FYE Mar 2004	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2005	6.7	+103.0%	Cons. · Japanese GAAP
FYE Mar 2006	9.1	+36.4%	Cons. · Japanese GAAP
FYE Mar 2007	10.7	+16.6%	Cons. · Japanese GAAP
FYE Mar 2008	9.6	−9.9%	Cons. · Japanese GAAP
FYE Mar 2009	12.6	+31.6%	Cons. · Japanese GAAP

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Mar 2009 ¥0.9bn

CAGR · 4 yrs −28.2%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2007	0.6	−72.0%	Cons. · Japanese GAAP
FYE Mar 2008	1.6	+143.8%	Cons. · Japanese GAAP
FYE Mar 2009	0.9	−45.6%	Cons. · Japanese GAAP

Definition: One-off gains, such as an asset sale
Formula: Extraordinary income line of the income statement
Source: Securities report (XBRL)

Extraordinary loss

FYE Mar 2009 ¥3.1bn

CAGR · 4 yrs −18.6%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	5.8	n/a	Cons. · Japanese GAAP
FYE Mar 2007	2.1	−63.0%	Cons. · Japanese GAAP
FYE Mar 2008	4.1	+90.8%	Cons. · Japanese GAAP
FYE Mar 2009	3.1	−23.6%	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2009 ¥7.8bn

Average · 10 yrs -¥14bn

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2000	-28.5	n/a	Cons. · Japanese GAAP
FYE Mar 2001	-52.9	n/a	Cons. · Japanese GAAP
FYE Mar 2002	-71.7	n/a	Cons. · Japanese GAAP
FYE Mar 2003	-27.1	n/a	Cons. · Japanese GAAP
FYE Mar 2004	1.4	n/a	Cons. · Japanese GAAP
FYE Mar 2005	6.9	+392.9%	Cons. · Japanese GAAP
FYE Mar 2006	7.1	+3.2%	Cons. · Japanese GAAP
FYE Mar 2007	7.4	+3.6%	Cons. · Japanese GAAP
FYE Mar 2008	7.0	−5.6%	Cons. · Japanese GAAP
FYE Mar 2009	7.9	+12.6%	Cons. · Japanese GAAP

Definition: What is left after tax
Formula: Pre-tax profit − income taxes
Source: Securities report (XBRL)

Gross margin

FYE Mar 2009 23.4%

Average · 4 yrs 23.3%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	23.5	n/a	Cons. · Japanese GAAP
FYE Mar 2007	23.3	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2008	23.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2009	23.4	+0.4pp	Cons. · Japanese GAAP

Definition: The share of revenue left after the cost of sales
Formula: Gross profit ÷ revenue
Source: Securities report (XBRL)

Operating margin

FYE Mar 2009 3.6%

Average · 4 yrs 3.2%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	3.3	n/a	Cons. · Japanese GAAP
FYE Mar 2007	3.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2008	2.8	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2009	3.6	+0.7pp	Cons. · Japanese GAAP

Definition: The share of revenue the core business keeps
Formula: Operating profit ÷ revenue
Source: Securities report (XBRL)

Ordinary margin

FYE Mar 2009 4.3%

Average · 10 yrs 0.8%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2000	1.7	n/a	Cons. · Japanese GAAP
FYE Mar 2001	-5.2	−6.9pp	Cons. · Japanese GAAP
FYE Mar 2002	-3.0	+2.1pp	Cons. · Japanese GAAP
FYE Mar 2003	-3.7	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2004	1.0	+4.7pp	Cons. · Japanese GAAP
FYE Mar 2005	2.4	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2006	3.3	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2007	3.8	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2008	3.3	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2009	4.3	+0.9pp	Cons. · Japanese GAAP

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2009 2.7%

Average · 10 yrs -0.4%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2000	-2.2	n/a	Cons. · Japanese GAAP
FYE Mar 2001	-4.6	−2.4pp	Cons. · Japanese GAAP
FYE Mar 2002	-6.2	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2003	-3.7	+2.4pp	Cons. · Japanese GAAP
FYE Mar 2004	0.4	+4.2pp	Cons. · Japanese GAAP
FYE Mar 2005	2.4	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2006	2.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2007	2.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2008	2.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2009	2.7	+0.2pp	Cons. · Japanese GAAP

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Cost-of-sales ratio

FYE Mar 2009 76.6%

Average · 4 yrs 76.7%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	76.5	n/a	Cons. · Japanese GAAP
FYE Mar 2007	76.7	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2008	77.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2009	76.6	−0.4pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2009 19.9%

Average · 4 yrs 20.1%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	20.3	n/a	Cons. · Japanese GAAP
FYE Mar 2007	20.0	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2008	20.2	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2009	19.9	−0.3pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio

Total assets

FYE Mar 2009 ¥204bn

CAGR · 4 yrs −0.7%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	n/a
FYE Mar 2001	n/a	n/a	n/a
FYE Mar 2002	n/a	n/a	n/a
FYE Mar 2003	n/a	n/a	n/a
FYE Mar 2004	n/a	n/a	n/a
FYE Mar 2005	n/a	n/a	n/a
FYE Mar 2006	208	n/a	Cons. · Japanese GAAP
FYE Mar 2007	205	−1.8%	Cons. · Japanese GAAP
FYE Mar 2008	202	−1.1%	Cons. · Japanese GAAP
FYE Mar 2009	204	+0.7%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2009 ¥70bn

CAGR · 4 yrs +10.2%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	n/a
FYE Mar 2001	n/a	n/a	n/a
FYE Mar 2002	n/a	n/a	n/a
FYE Mar 2003	n/a	n/a	n/a
FYE Mar 2004	n/a	n/a	n/a
FYE Mar 2005	n/a	n/a	n/a
FYE Mar 2006	52.3	n/a	Cons. · Japanese GAAP
FYE Mar 2007	72.7	+39.1%	Cons. · Japanese GAAP
FYE Mar 2008	68.7	−5.6%	Cons. · Japanese GAAP
FYE Mar 2009	70.0	+2.0%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Short-term borrowings

FYE Mar 2009 ¥23bn

CAGR · 4 yrs +1.6%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	n/a
FYE Mar 2001	n/a	n/a	n/a
FYE Mar 2002	n/a	n/a	n/a
FYE Mar 2003	n/a	n/a	n/a
FYE Mar 2004	n/a	n/a	n/a
FYE Mar 2005	n/a	n/a	n/a
FYE Mar 2006	21.6	n/a	Cons. · Japanese GAAP
FYE Mar 2007	19.6	−8.9%	Cons. · Japanese GAAP
FYE Mar 2008	19.1	−2.9%	Cons. · Japanese GAAP
FYE Mar 2009	22.6	+18.7%	Cons. · Japanese GAAP

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Long-term borrowings

FYE Mar 2009 ¥29bn

CAGR · 4 yrs −3.3%

Fiscal year	Long-term borrowings ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	n/a
FYE Mar 2001	n/a	n/a	n/a
FYE Mar 2002	n/a	n/a	n/a
FYE Mar 2003	n/a	n/a	n/a
FYE Mar 2004	n/a	n/a	n/a
FYE Mar 2005	n/a	n/a	n/a
FYE Mar 2006	32.5	n/a	Cons. · Japanese GAAP
FYE Mar 2007	27.3	−16.1%	Cons. · Japanese GAAP
FYE Mar 2008	22.9	−15.9%	Cons. · Japanese GAAP
FYE Mar 2009	29.4	+28.2%	Cons. · Japanese GAAP

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Bonds

FYE Mar 2009 ¥0.0bn

Average · 4 yrs ¥6.3bn

Fiscal year	Bonds ¥ bn	YoY	Basis
FYE Mar 2000	n/a	n/a	n/a
FYE Mar 2001	n/a	n/a	n/a
FYE Mar 2002	n/a	n/a	n/a
FYE Mar 2003	n/a	n/a	n/a
FYE Mar 2004	n/a	n/a	n/a
FYE Mar 2005	n/a	n/a	n/a
FYE Mar 2006	12.7	n/a	Cons. · Japanese GAAP
FYE Mar 2007	6.2	−51.2%	Cons. · Japanese GAAP
FYE Mar 2008	6.2	−0.0%	Cons. · Japanese GAAP
FYE Mar 2009	0.0	−100.0%	Cons. · Japanese GAAP

Definition: Bonds outstanding
Formula: Bonds line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2009 34.4%

Average · 4 yrs 32.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2000	n/a	n/a	n/a
FYE Mar 2001	n/a	n/a	n/a
FYE Mar 2002	n/a	n/a	n/a
FYE Mar 2003	n/a	n/a	n/a
FYE Mar 2004	n/a	n/a	n/a
FYE Mar 2005	n/a	n/a	n/a
FYE Mar 2006	25.1	n/a	Cons. · Japanese GAAP
FYE Mar 2007	35.5	+10.5pp	Cons. · Japanese GAAP
FYE Mar 2008	33.9	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2009	34.4	+0.5pp	Cons. · Japanese GAAP

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2009 11.2%

Average · 4 yrs 11.3%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	13.6	n/a	Cons. · Japanese GAAP
FYE Mar 2007	10.2	−3.5pp	Cons. · Japanese GAAP
FYE Mar 2008	10.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2009	11.2	+1.1pp	Cons. · Japanese GAAP

Definition: What the shareholders' capital earns
Formula: Net profit ÷ equity
Source: Securities report (XBRL)

ROA return on assets

FYE Mar 2009 3.9%

Average · 4 yrs 3.6%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	3.4	n/a	Cons. · Japanese GAAP
FYE Mar 2007	3.6	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2008	3.4	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2009	3.9	+0.4pp	Cons. · Japanese GAAP

Definition: What the whole balance sheet earns
Formula: Net profit ÷ total assets
Source: Securities report (XBRL)

Asset turnover

FYE Mar 2009 1.45×

CAGR · 4 yrs +2.5%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2001	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2002	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2003	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2004	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2005	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2006	1.34	n/a	Cons. · Japanese GAAP
FYE Mar 2007	1.36	+0.8%	Cons. · Japanese GAAP
FYE Mar 2008	1.42	+4.6%	Cons. · Japanese GAAP
FYE Mar 2009	1.45	+2.0%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Mar 2009 2,679people

Change · 4 yrs −84 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons.
FYE Mar 2001	n/a	n/a	Cons.
FYE Mar 2002	n/a	n/a	Cons.
FYE Mar 2003	n/a	n/a	Cons.
FYE Mar 2004	n/a	n/a	Cons.
FYE Mar 2005	n/a	n/a	Cons.
FYE Mar 2006	2,763	n/a	Cons.
FYE Mar 2007	2,682	−2.9%	Cons.
FYE Mar 2008	2,644	−1.4%	Cons.
FYE Mar 2009	2,679	+1.3%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Mar 2009 1,397people

Change · 4 yrs −29 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2000	n/a	n/a	Parent
FYE Mar 2001	n/a	n/a	Parent
FYE Mar 2002	n/a	n/a	Parent
FYE Mar 2003	n/a	n/a	Parent
FYE Mar 2004	n/a	n/a	Parent
FYE Mar 2005	n/a	n/a	Parent
FYE Mar 2006	1,426	n/a	Parent
FYE Mar 2007	1,367	−4.1%	Parent
FYE Mar 2008	1,376	+0.7%	Parent
FYE Mar 2009	1,397	+1.5%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2009 ¥6.6m

Change · 4 yrs +¥0.7m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2000	n/a	n/a	Parent
FYE Mar 2001	n/a	n/a	Parent
FYE Mar 2002	n/a	n/a	Parent
FYE Mar 2003	n/a	n/a	Parent
FYE Mar 2004	n/a	n/a	Parent
FYE Mar 2005	n/a	n/a	Parent
FYE Mar 2006	5.9	n/a	Parent
FYE Mar 2007	6.0	+2.0%	Parent
FYE Mar 2008	6.2	+4.6%	Parent
FYE Mar 2009	6.6	+5.7%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2009 39.8years

Change · 4 yrs −0.9 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2000	n/a	n/a	Parent
FYE Mar 2001	n/a	n/a	Parent
FYE Mar 2002	n/a	n/a	Parent
FYE Mar 2003	n/a	n/a	Parent
FYE Mar 2004	n/a	n/a	Parent
FYE Mar 2005	n/a	n/a	Parent
FYE Mar 2006	40.7	n/a	Parent
FYE Mar 2007	39.6	−2.7%	Parent
FYE Mar 2008	39.6	−0.0%	Parent
FYE Mar 2009	39.8	+0.5%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2009 17.3years

Change · 4 yrs −1.3 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2000	n/a	n/a	Parent
FYE Mar 2001	n/a	n/a	Parent
FYE Mar 2002	n/a	n/a	Parent
FYE Mar 2003	n/a	n/a	Parent
FYE Mar 2004	n/a	n/a	Parent
FYE Mar 2005	n/a	n/a	Parent
FYE Mar 2006	18.6	n/a	Parent
FYE Mar 2007	17.3	−7.0%	Parent
FYE Mar 2008	17.2	−0.6%	Parent
FYE Mar 2009	17.3	+0.6%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Mar 2009 2,058people

Change · 4 yrs −98 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2000	n/a	n/a	n/a
FYE Mar 2001	n/a	n/a	n/a
FYE Mar 2002	n/a	n/a	n/a
FYE Mar 2003	n/a	n/a	n/a
FYE Mar 2004	n/a	n/a	n/a
FYE Mar 2005	n/a	n/a	n/a
FYE Mar 2006	2,156	n/a	n/a
FYE Mar 2007	2,137	−0.9%	n/a
FYE Mar 2008	2,079	−2.7%	n/a
FYE Mar 2009	2,058	−1.0%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2009 ¥110m

Change · 4 yrs +¥8.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons.
FYE Mar 2001	n/a	n/a	Cons.
FYE Mar 2002	n/a	n/a	Cons.
FYE Mar 2003	n/a	n/a	Cons.
FYE Mar 2004	n/a	n/a	Cons.
FYE Mar 2005	n/a	n/a	Cons.
FYE Mar 2006	101	n/a	Cons.
FYE Mar 2007	103	+2.0%	Cons.
FYE Mar 2008	109	+5.0%	Cons.
FYE Mar 2009	110	+1.3%	Cons.

Definition: What each employee accounts for in revenue
Formula: Revenue ÷ group employees
Source: Securities report (XBRL)

Operating profit per employee

FYE Mar 2009 ¥3.9m

Change · 4 yrs +¥0.6m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2000	n/a	n/a	Cons.
FYE Mar 2001	n/a	n/a	Cons.
FYE Mar 2002	n/a	n/a	Cons.
FYE Mar 2003	n/a	n/a	Cons.
FYE Mar 2004	n/a	n/a	Cons.
FYE Mar 2005	n/a	n/a	Cons.
FYE Mar 2006	3.3	n/a	Cons.
FYE Mar 2007	3.4	+2.7%	Cons.
FYE Mar 2008	3.1	−10.4%	Cons.
FYE Mar 2009	3.9	+27.9%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

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