Financial Analysis

Japanese[Open in a new window]

Net Income per Share

Net Income per Share of the year ended March 2016 was 55.98 Yen.

Net Assets per Share

Net Assets per Share of Common Stock of the year ended March 2016 was 1,360.80 Yen.

Return on Equity (ROE)
/Return on Assets (ROA)

Return on Equity (ROE) of the year ended March 2016 was 4.0%. And Return on Assets (ROA) of the year ended March 2015 was 2.3%.

Free Cash Flows

Free Cash Flows of the year ended March 2016 were 24,334 Million Yen.

Price Earning Ratio (PER)

Price Earning Ratio (PER) of the year ended March 2016 was 30.8%

Price Book-Value Ratio (PBR)

Price Book-Value Ratio (PBR) of the year ended March 2016 was 1.3%.

Interest-Bearing Debt/
Debt Equity Ratio

Interest-Bearing Debt of the year ended March 2016 was 112,771 million Yen. Debt Equity Ratio of the year ended March 2016 was 0.21 times.

(Millions of Yen Unless Indicated)

Fiscal Year-End 2012/3 2013/3 2014/3 2015/3 2016/3
Stock Price (End of the Fiscal Year) (Yen) 2,512 2,231 1,662 1,610 1,722
Net Income per Share (Yen) 149.57 107.07 118.06 46.29 55.98
Net Assets per Share (Yen) 1,091.98 1,234.05 1,375.92 1,438.17 1,360.80
Return on Equity (ROE) 14.4% 9.2% 9.0% 3.3% 4.0%
Return on Assets (ROA) 7.0% 4.9% 5.2% 1.9% 2.3%
Free Cash Flows *1 -34,071 -13,219 70,992 46,364 24,334
Price Earning Ratio (PER) (Times) *2 16.8 20.8 14.1 34.8 30.8
Price Book-Value Ratio (PBR) (Times) *3 2.3 1.8 1.2 1.1 1.3
Interest-Bearing Debt 86,366 85,347 127,131 115,496 112,771
Debt Equity Ratio (Times) *4 0.20 0.17 0.23 0.20 0.21

R&D Expenditures by Industry
Segment / Ratio of R&D
Expenditures to Net Sales

R&D Expenditures of the year ended March 2016 were 66,780 million Yen. The ratio of R&D Expenditures to Net Sales of the year ended March 2016 was 8.1%.

Capital Expenditures
by Industry Segment

Capital Expenditures of the year ended March 2016 were 34,497 million Yen.

Depreciation and Amortization
by Industry Segment

Depreciation and Amortization of the year ended March 2016 was 37,738 million Yen.

(Millions of Yen Unless Indicated)

Fiscal Year-End 2012/3 2013/3 2014/3 2015/3 2016/3
R&D Expenditures 68,701 76,496 74,552 66,730 66,780
R&D Expenditures by Industry Segment
Precision Equipment 22,252 25,744 25,473 20,619 17,691
Imaging Products 27,058 29,063 28,430 25,674 25,354
Instruments 5,315 5,519 5,256 5,139 5,753
Medical 3,616
Other 14,075 16,169 15,392 15,298 14,364
R&D Expenditures to Net Sales 7.5% 7.6% 7.6% 7.8% 8.1%
Capital Expenditures * 55,914 60,158 45,472 32,549 34,497
Capital Expenditures by Industry Segment
Precision Equipment 7,341 8,301 9,730 6,034 9,739
Imaging Products 33,298 34,449 16,130 8,329 10,573
Instruments 1,233 1,512 1,362 1,788 1,596
Medical 575
Other 9,058 10,733 11,314 8,365 6,877
Corporate Assets 4,982 5,161 6,933 8,032 5,135
Depreciation and Amortization * 32,570 36,225 42,477 38,458 37,738
Depreciation and Amortization by Industry Segment
Precision Equipment 9,024 8,720 9,561 7,722 3,191
Imaging Products 12,585 16,258 20,724 18,814 19,557
Instruments 1,476 1,550 1,717 1,618 1,678
Medical 1,980
Other 6,586 6,454 5,774 5,800 6,390
Corporate Assets 2,897 3,241 4,699 4,502 4,939