Statements of Income

Consolidated Statements of Income

(Millions of yen)	March 2006	March 2007	March 2008	March 2009	March 2010
Net sales	129,284	151,495	148,148	120,846	119,079
Cost of sales	85,025	103,848	98,020	81,644	82,666
Gross profit	44,258	47,647	50,127	39,202	36,413
Selling, general and administrative expenses	25,757	27,919	30,076	30,238	29,150
Operating income	18,501	19,727	20,050	8,963	7,262
Other income (expenses)	4,705	5,418	3,269	1,028	2,028
Ordinary income	23,207	25,145	23,319	9,991	9,290
Income before income taxes and minority interests in earnings of affiliates	23,170	25,174	21,535	5,542	8,912
Income taxes	8,066	8,430	5,889	1,839	1,479
Minority interests in earnings of affiliates	209	190	160	221	362
Net income	14,895	16,553	15,486	3,481	7,071

(%)	March 2006	March 2007	March 2008	March 2009	March 2010
Cost of sales ratio	65.8	68.5	66.2	67.6	69.4
Gross profit margin	34.2	31.5	33.8	32.4	30.6
Selling, general and administrative expenses ratio	19.9	18.5	20.3	25.0	24.5
Operating income ratio to net sales	14.3	13.0	13.5	7.4	6.1
Ordinary income ratio to net sales	18.0	16.6	15.7	8.3	7.8
Pre-tax profit margin	17.9	16.6	14.5	4.6	7.5
Net income to net sales ratio	11.5	10.9	10.5	2.9	5.9