Investor Relations
Financial Highlights
Consolidated Financial Highlights
|
|
2008 | 2009 | 2010 | 2011 |
| Net Sales(Millions of yen) |
11,447 | 10,394 | 9,894 | 9,531 |
| Operating Income(Millions of yen) |
915 | 351 | 818 | 536 |
| Net Income(Millions of yen) |
286 | -226 | -2,358 | 71 |
| Total Assets(Millions of yen) |
24,868 | 23,456 | 19,099 | 17,825 |
| Stockholders' Equity(Millions of yen) |
12,008 | 14,183 | 11,654 | 11,567 |
| Operating Profit ratio(%) |
8 | 3.4 | 8.3 | 5.6 |
| Net Income ratio(%) |
2.5 | -2.2 | -23.8 | 0.7 |
| Return on Stockholders' Equity (ROE)(%) |
2.4 | -1.7 | -18.3 | 0.6 |
| Return on Assets (ROA)(%) |
3.1 | 0.2 | 2.2 | 1.1 |
| Equity ratio(%) |
48.3 | 60.5 | 61 | 64.9 |
| Earning Per Share (EPS)(yen) |
15.48 | -8.98 | -89.12 | 2.69 |
| 1 Stockholders' Equity per Share(yen) |
648 | 536 | 440 | 437 |
Income Statement
Consolidated Statements of Income
| Year |
2008 | 2009 | 2010 | 2011 |
| Net Sales(Millions of yen) |
11,447 | 10,394 | 9,894 | 9,531 |
| Cost of Sales(Millions of yen) |
3,846 | 4,186 | 3,700 | 3,748 |
| Gross Profit(Millions of yen) |
7,600 | 6,208 | 6,194 | 5,782 |
| Selling General and Administrative Expenses(Millions of yen) |
6,684 | 5,856 | 5,375 | 5,246 |
| Operating Profit(Millions of yen) |
915 | 351 | 818 | 536 |
| Non Operating Income(Millions of yen) |
124 | 37 | 21 | 48 |
| Non Operating Expenses(Millions of yen) |
685 | 332 | 364 | 380 |
| Ordinary Income(Millions of yen) |
354 | 56 | 475 | 204 |
| Extraordinary Gains(Millions of yen) |
300 | 23 | 226 | 22 |
| Extraordinary Losses(Millions of yen) |
122 | 205 | 3,863 | 75 |
| Net Income Before Income Taxes(Millions of yen) |
532 | -125 | -3,161 | 151 |
| Income Taxes(Millions of yen) |
245 | 101 | -803 | 87 |
| Net Income(Millions of yen) |
286 | -226 | -2,358 | 71 |
Balance Sheets
Consolidated Balance Sheets
Assets
| year |
2008 | 2009 | 2010 | 2011 |
| Current Assets(Millions of yen) |
17,816 | 17,715 | 12,194 | 11,062 |
| Notes and Accounts Receivable, Trade(Millions of yen) |
1,751 | 1,612 | 1,888 | 1,988 |
| Inventories(Millions of yen) |
13,775 | 12,207 | 7,003 | 6,198 |
| Other Current Assets(Millions of yen) |
2,289 | 3,895 | 3,303 | 2,875 |
| Fixed Assets(Millions of yen) |
7,052 | 5,741 | 6,904 | 6,763 |
| Tangible(Millions of yen) |
6,404 | 5,347 | 5,011 | 4,895 |
| Intangible(Millions of yen) |
186 | 164 | 139 | 132 |
| Investments and Other Asset(Millions of yen) |
460 | 229 | 1,753 | 1,735 |
| Total Assets(Millions of yen) |
24,868 | 23,456 | 19,099 | 17,825 |
Liabilities
| Year |
2008 | 2009 | 2010 | 2011 |
| Current Liabilities(Millions of yen) |
7,431 | 8,121 | 6,897 | 5,420 |
| Notes and Accounts Payable, Trade(Millions of yen) |
263 | 221 | 277 | 422 |
| Short-term Bank Borrowings(Millions of yen) |
4,540 | 5,407 | 5,537 | 4,149 |
| Other Current Liabilities(Millions of yen) |
2,628 | 2,491 | 1,082 | 849 |
| Long-Term Liabilities(Millions of yen) |
5,427 | 1,151 | 546 | 836 |
| Long-term Bank Borrowings(Millions of yen) |
2,965 | 675 | 80 | 375 |
| Other Long-Term Liabilities(Millions of yen) |
2,462 | 476 | 466 | 461 |
| Total Liabilities(Millions of yen) |
12,859 | 9,272 | 7,444 | 6,257 |
Stockholders' Equity
| Year |
2008 | 2009 | 2010 | 2011 |
| Common Stock(Millions of yen) |
1,826 | 3,001 | 3,001 | 3,001 |
| Capital Surplus(Millions of yen) |
1,411 | 2,587 | 2,587 | 2,587 |
| Retained Earning(Millions of yen) |
8,806 | 8,487 | 5,996 | 5,935 |
| Unrealized Gains on Securities(Millions of yen) |
10 | 3 | 1 | 0 |
| Adjustments on Foreign Currency Statement Translation(Millions of yen) |
-20 | 130 | 93 | 68 |
| Treasury Stocks(Millions of yen) |
-25 | -25 | -26 | -26 |
| Total Stockholders' Equity(Millions of yen) |
12,008 | 14,183 | 11,654 | 11,567 |
| Total Liabilities and Stockholders' Equity(Millions of yen) |
24,868 | 23,456 | 19,099 | 17,825 |
| Liabilities with interest(Millions of yen) |
11,223 | 8,034 | 5,623 | 4,529 |
Cash Flows
Consolidated Statements of Cash Flows
| Year |
2008 | 2009 | 2010 | 2011 |
| Cash Flows From Operating Activities(Millions of yen) |
4,162 | 2,882 | 3,286 | 1,742 |
| Cash Flows From Investing Activities(Millions of yen) |
17 | -222 | -731 | -815 |
| Cash Flows From Financing Activities(Millions of yen) |
-4,574 | -927 | -2,543 | -1,131 |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents(Millions of yen) |
-6 | 4 | -3 | -9 |
| Net Increase/(Decrease) in Cash and Cash Equivalents(Millions of yen) |
-400 | 1,737 | 8 | -213 |
| Cash and Cash Equivalents at Beginning of Year(Millions of yen) |
970 | 570 | 2,307 | 2,316 |
| Cash and Cash Equivalents at End of Year(Millions of yen) |
570 | 2,307 | 2,316 | 2,102 |
Segment Information
Consolidated Segment Information
| Year |
2008 | 2009 | 2010 | 2011 |
| Orthopedic trauma devices(Millions of yen) |
5,624 | 4,676 | 4,199 | 4,127 |
| Joint replacements(Millions of yen) |
3,779 | 3,906 | 3,865 | 3,701 |
| Spinal fixation devices(Millions of yen) |
1,092 | 1,000 | 1,012 | 951 |
| Other medical devices(Millions of yen) |
950 | 812 | 817 | 750 |
| Total(Millions of yen) |
11,447 | 10,394 | 9,894 | 9,531 |
| Own-brand products sales(Millions of yen) |
3,639 | 3,440 | 3,486 | 3,371 |
| Overseas sales(Millions of yen) |
1,293 | 1,435 | 1,392 | 1,517 |
Capital expenditures / R&D
| Year |
2008 | 2009 | 2010 | 2011 |
| Capital Expenditures(Millions of yen) |
558 | 391 | 780 | 836 |
| Share of sales(%) |
4.9 | 3.8 | 7.9 | 8.8 |
| Depreciation & Amortization(Millions of yen) |
1,915 | 1,351 | 960 | 826 |
| Share of sales(%) |
16.7 | 13 | 9.7 | 8.7 |
| R&D Expenses(Millions of yen) |
125 | 155 | 148 | 246 |
| Share of sales(%) |
1.1 | 1.5 | 1.5 | 2.6 |
