Financial Analysis

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Basic Earnings per Share

Basic Earnings (Loss) per Share of the year ended March 2017 was 10.01 Yen.

Equity Attributable to Owners of Parent per Share

Equity Attributable to Owners of Parent per Share of Common Stock of the year ended March 2017 was 1,356.69 Yen.

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

Return on Equity (ROE) of the year ended March 2017 was 0.7%. And Return on Assets (ROA) of the year ended March 2017 was 0.4%.

Free Cash Flows

Free Cash Flows of the year ended March 2017 were 56,649 Million Yen.

Price Earning Ratio (PER)

Price Earning Ratio (PER) of the year ended March 2017 was 161.2

Price Book-Value Ratio (PBR)

Price Book-Value Ratio (PBR) of the year ended March 2017 was 1.2.

Interest-Bearing Debt/
Debt Equity Ratio

Interest-Bearing Debt of the year ended March 2017 was 141,763 million Yen. Debt Equity Ratio of the year ended March 2017 was 0.26 times.

(Millions of Yen Unless Indicated)

Fiscal Year-End 2014/3 2015/3 2016/3 2017/3 2018/3
Stock Price (End of the Fiscal Year) (Yen) 1,662 1,610 1,722 1,614 1,896
Basic Earnings per Share (Yen) 118.06 46.29 75.55 10.01 87.76
Equity Attributable to Owners of Parent per Share (Yen) 1,375.92 1,438.17 1,354.28 1,356.69 1,445.92
Return on Equity (ROE) 9.0% 3.3% 5.5% 0.7% 6.3%
Return on Assets (ROA) 5.2% 1.9% 3.0% 0.4% 3.3%
Free Cash Flows *1 70,992 46,364 24,334 56,649 90,274
Price Earning Ratio (PER) (Times) *2 14.1 34.8 22.8 161.2 21.6
Price Book-Value Ratio (PBR) (Times) *3 1.2 1.1 1.3 1.2 1.3
Interest-Bearing Debt 127,132 115,497 112,642 141,494 128,314
Debt Equity Ratio (Times) *4 0.23 0.20 0.21 0.26 0.22

R&D Expenditures by Industry
Segment / Ratio of R&D
Expenditures to Revenue

R&D Expenditures of the year ended March 2017 were 63,632 million Yen. The ratio of R&D Expenditures to Revenue of the year ended March 2017 was 8.5%.

Capital Expenditures
by Industry Segment

Capital Expenditures of the year ended March 2017 were 32,860 million Yen.

Depreciation and Amortization
by Industry Segment

Depreciation and Amortization of the year ended March 2017 was 32,860 million Yen.

(Millions of Yen Unless Indicated)

Fiscal Year-End 2014/3 2015/3 2016/3 2017/3 2018/3
R&D Expenditures 74,552 66,730 66,781 63,636 60,704
R&D Expenditures by Industry Segment
Imaging Products Business 28,430 25,674 25,355 24,921 23,460
Precision Equipment Business 25,473 20,619 17,691 16,217 14,300
Healthcare Business 7,951
Industrial Metrology and Others 14,992
Instruments Business 5,256 5,139 5,753 6,229
Medical Business 3,617 3,793
Other 15,392 15,298 14,365 12,485
R&D Expenditures to Revenue 7.6% 7.8% 7.9% 8.5% 8.5%
Capital Expenditures * 45,472 32,549 34,498 32,234 33,472
Capital Expenditures by Industry Segment
Imaging Products Business 16,130 8,329 10,573 7,071 6,465
Precision Equipment Business 9,730 6,034 9,739 7,511 4,460
Healthcare Business 5,049
Industrial Metrology and Others 12,825
Instruments Business 1,362 1,788 1,597 2,437
Medical Business 575 544
Other 11,314 8,365 6,878 10,451
Corporate Assets 6,933 8,032 5,136 4,220 4,673
Depreciation and Amortization * 42,477 38,458 38,811 33,972 31,706
Depreciation and Amortization by Industry Segment
Imaging Products Business 20,724 18,814 19,556 16,168 13,950
Precision Equipment Business 9,561 7,722 3,195 2,931 2,681
Healthcare Business 3,198 3,103
Industrial Metrology and Others 7,022 7,615
Instruments Business 1,717 1,618 2,749
Medical Business 1,980
Other 5,774 5,800 6,387
Corporate Assets 4,699 4,502 4,944 4,653 4,358