IR情報 インベスターズガイド | 宝ホールディングス株式会社

TAKARA HOLDINGS INC.

－ P2

Profile

中期経営計画2019 － P4

Medium-Term Management Plan FY2020

ン 情報 － P8

Business Segment Information

宝酒造 － P8

Takara Shuzo

国 酒類 場 －P11

Alcohol Market Data in Japan

宝酒造 ン －P14

Takara Shuzo International Group

－P17

Takara Bio Group

務 編 －P20

Financial Data

20 間 業績推移 －P21

20-year Financial Results

連結 務諸表 －P26

Consolidated Financial Statements

連結 務指標 －P29

Consolidated Financial Indicators

株式情報 －P32

Stock Information

主要子会社一覧

－P34

Major Consolidated Subsidiaries

ン

2017

INVE“TOR“’ GUIDE

7

Year ended March 31, 2017

◆企業理念

Corporate Philosophy

◆会社概要

Corporate Data

自然

調和

大切

発酵やバイオ

術

通

人間

健康的

暮

生

生

社会

く

貢献

Contributing to the creation of a vital society and

a healthy lifestyle through our fermentation

technology and biotechnology in a way that

achieves harmony with nature

宝

ン

株式会社

Takara Holdings Inc.

商

宝

ン

株式会社

Trade name Takara Holdings Inc.

店所在地

京都

Head office Kyoto, Japan

設立

1925

9

6

日

Established September 6, 1925

代表者

締役社長

柿

敏男

Company representative Toshio Kakimoto, President

資

金

13,226

万

Issued capital ¥13,226 million

9

,1

3

3

9

,4

9

0

1

1

,0

9

6

1

1

,6

8

0

1

3

,5

5

1

4

,6

8

7

1

0

,2

8

0

5

,7

0

6

7

,0

5

5

8

,4

8

0

0 3,000 6,000 9,000 12,000 15,000

140,000 160,000 180,000 200,000 220,000 240,000

'13/3 '14/3 '15/3 '16/3 '17/3

営業利益

親会社株主 帰属

当期純利益

売 高

Operating income

Net income

attributable to owners of the parent

Net sales

Sales Income

売

高

Net sales

営業利益

Operating income

親会社株主 帰属

当期純利益 Net income attributable to

owners of the parent

234,193

13,551

8,480

◆

業構造

Business Structure

●業績推移

位： 万

Financial summary (Millions of yen)

●

2017

3

期業績

位： 万

Financial results for fiscal 2017 (Millions of yen)

宝酒造

国

業

Takara Shuzo(Domestic Business)

持株比率：100%

Share owned 100%

東証一部 場 ：4974

Tokyo (1st_{section) (Code: 4974)}

2017 7 3日現在

As of July 3, 2017

Profile

子会社

11

社

11 subsidiaries

宝酒造

ﾀ

ﾅ

ｮﾅﾙ

ﾙ

海外

業

Takara Shuzo International Group(Overseas Business)

子会社

39

社

39 subsidiaries

持株比率：60.9%

Share owned 60.9%

持株比率：100%

Share owned 100%

そ

他

国

会社

Other (Domestic related business)

子会社

10

社

10 subsidiaries

業

Takara Bio Group(Biomedical business)

宝酒造株式会社

Takara Shuzo Co., Ltd.

株式会社

Takara Bio Inc.

宝酒造

ﾀ

ﾅ

ｮﾅﾙ株式会社

◆

ン

別売

構成比

Composition of Net Sales by Business Segment

◆

ン

概況

Overview of Business Segment

2017 3 期

Year ended March 31, 2017

4 ,9 2 6 4 ,5 1 3 4 ,4 2 8 4 ,0 8 2 5 ,0 7 1 0 2,000 4,000 6,000 8,000 100,000 120,000 140,000 160,000

'13/3 '14/3 '15/3 '16/3 '17/3

営業利益

売 高

Operating income Net sales

Sales Income

●業績推移

位： 万 ※

Financial summary (Millions of yen)*

宝酒造

Takara Shuzo

宝酒造

ン

Takara Shuzo International Group

●

業概要

Business outline

4

0

5 ₉07 ₂,27

0 2 ,7 5 2 3 ,1 8 2 0 1,000 2,000 3,000 4,000 0 10,000 20,000 30,000 40,000

'13/3 '14/3 '15/3 '16/3 '17/3

営業利益

売 高

Operating income Net sales

Sales Income

●業績推移

位： 万 ※

Financial summary (Millions of yen)*

●

業概要

Business outline

●

2017

3

期業績

位： 万

Financial results for fiscal 2017 (Millions of yen)

売

高

Net sales

営業利益

Operating income

●

2017

3

期業績

位： 万

Financial results for fiscal 2017 (Millions of yen)

売

高

Net sales

営業利益

Operating income

149,452

5,071

37,540

3,182

63.8% 16.0% 12.5% 7.6%

宝酒造

宝酒造 ﾀ ﾅ ｮﾅﾙ ﾙ

そ 他

77.8%

22.2%

参考

地域別売

構成比

Sales by business areas

国

Domestic

海外

Overseas Takara Shuzo

Takara Shuzo International Group Takara Bio Group

Other

Takara Bio Group

1 ,6 9 1 1 ,9 5 4 2 ,3 0 2 2 ,6 6 7 3 ,2 0 2 0 1,000 2,000 3,000 0 10,000 20,000 30,000

'13/3 '14/3 '15/3 '16/3 '17/3

営業利益

売 高

Operating income Net sales

Sales Income

●業績推移

位： 万

Financial summary (Millions of yen)

●

業概要

Business outline

29,375

3,202

国 酒類 調味料 業

Domestic Alcoholic beverages, Seasonings and Raw alcohol business

海外日 食材卸 業／海外酒類 業

Japanese Food Wholesale Business in overseas markets

/ Overseas Alcoholic Beverages Business

産業支援 業／遺伝子 療 業／ 食品 業

Bioindustry Business / Gene Therapy Business / AgriBio Business

●

2017

3

期業績

位： 万

Financial results for fiscal 2017 (Millions of yen)

売

高

Net sales

営業利益

Operating income

※宝酒造 宝酒造 2016 3 期以前 数値 参考値

◆概要

Summary

方針

Basic policy

定

目標

Tangible goals

2018 3 期～2020 3 期

FY2018 ~ FY2020

連結売 高

Net sales

連結営業利益 Operating income

海外売 高比率

Overseas sales as a percentage of net sales

2020 3 期

FY2020

2,900億 以 At least ¥290 billion

155億 以 At least ¥15.5 billion

33%以 At least 33%

海外売

高比率

さ

高

国

外

抜

･

い商品

競争優位性

商品

多数

他社

勝

数多く築

環境変

起

う

収益

大

く伸長さ

ン

業

盤

確立

By further increasing the overseas sales ratio together with

having a full product line-up and many products with a

competitive edge both in Japan and overseas, we are aiming

to build up a great number of fields in which we can beat

competitors and establish a balanced business foundation

able to grow revenues significantly no matter what

environmental changes occur.

健全

務体質

維持

成長投資

行う

適

株主還元

実施

ROE

向

さ

適

正

株価水準

実現

Maintain a strong balance sheet and make

growth-oriented investments while also improving our ROE

and achieving proper stock price levels by providing

appropriate shareholder returns.

中期経営計画

2019

Medium-Term Management Plan FY2020

務方針

Financial policy

* 当性向

*Deemed dividend payout ratio

当総額

total dividends

連結営業利益× 1－法人実効税率

(Consolidated operating income X (1 –Statutory effective tax rate ))

≒30%

＝

経営

盤強

Strengthening our management base



盤強

展開

大

向

経営管理機能

強

Strengthening management: Strengthening business management with a view to expanding our business globally



風土

人

支え

人

育成

人

戦略

強

Corporate culture and personnel: Developing the people that support the Group and improving the Group's human capital strategy



Ｃ

ン

則

体

整備

社会

献

環境活動

ESG

情報開示

推進

CSR: Developing systems consistent with the Corporate Governance Policy, conducting philanthropic and environmental activities, and releasing ESG-related information



自己資

比率

50

％水準

付

A

ン

維持

We will maintain a 50% equity ratio and credit rating of A (single-A flat)



国

海外

各

業

い

利益成長

見込

積極投資

We will proactively invest in areas where profit growth is expected in each of the Domestic, Overseas, and Bioindustry businesses.



当性向

※

30%

目安

当

ROE

６％

後半

目標

株主還元策

検討

実施

◆長期経営

ン

成

Roadmap for realizing the Takara Group Vision 2020

宝

ン

2020

Takara Group Vision 2020

国

外

強

活

場

業

伸

環境変

強い

ン

業構造

確立

Grow businesses in markets in Japan and overseas in

which the Group can leverage its strengths, establish

a balanced business structure that is readily

adaptable to changing conditions

2011 4 10 間

10 years from April 2011

(2011.4～2014.3)

宝 中期経営計画2013

Takara Group Medium-Term Management Plan FY2014

2014 3 期実績

FY2014 Actual

(2014.4～2017.3)

宝 中期経営計画2016

Takara Group Medium-Term Management Plan FY2017

2017 3 期実績

FY2017 Actual

第

3

3rd step

(2017.4

～

2020.3)

宝

中期経営計画

2019

Takara Group Medium-Term

Management Plan FY2020

2020

3

期目標

FY2020 Tangible goals

連結売 高

Net sales

連結営業利益

Operating income

海外売 高比率

Overseas sales ratio

2,095億

¥209.5 billion

94億

¥9.4 billion

13.0%

13.0%

連結売 高

Net sales

連結営業利益

Operating income

海外売 高比率

Overseas sales ratio

2,341億

¥234.1 billion

135億

¥13.5 billion

22.2%

22.2%

連結売

高

Net sales

連結営業利益

Operating income

海外売

高比率

Overseas sales

ratio

2,900

億

以

At least

¥290 billion

155

億

以

At least

¥15.5 billion

33.3%

以

At least 33.3%

宝

ン

2020

実現

Realization of

Takara Group Vision 2020

業

ン

変更

い

About the change to business segments

経営目標

Management goal

旧 ン ～2017 3 期

Previous segments ～FY2017

新 ン 2018 3 期～

New segments FY2018～

宝酒造 国 業

Takara Shuzo Domestic business

宝酒造 ﾀ ﾅ ｮﾅﾙ ﾙ 海外 業

Takara Shuzo International Group Overseas business

ﾀ ﾗﾊ ﾙ ﾊ 業

Takara Bio Group Biomedical business

そ 他 国 ﾙ 会社

Other (Domestic related business)

宝酒造 ﾙ 酒類 調味料 業

Takara Shuzo Group Alcoholic beverages and Seasoning business

ﾀ ﾗﾊ ﾙ ﾊ 業

Takara Bio Group Biomedical business

そ 他

Other

宝 ﾙ 健康食品 業

◆

別

業戦略

Business strategy by business group

方針

Basic policy

定

目標

Tangible goals

宝酒造

国

業

Takara Shuzo

(Domestic Business)

宝酒造

ﾀ

ﾅ

ｮﾅﾙ

ﾙ

海外

業

Takara Shuzo

International Group

(Overseas Business)

業

Takara Bio Group

(Biomedical business)

清 酒

中 心

各

売

高

大

利 益 率

向

さ

国

酒 類

調 味 料

場

和酒

No.1

確 固

ン

確立

Expand sales in all categories, with sake as

the core, improve the profit ratio and

cement our position as a top manufacturer

of traditional Japanese alcoholic beverages

in the domestic alcoholic beverages and

seasonings markets.

2020

3

期目標

FY2020 Tangible goals

連結売

高

Net sales

連結営業利益

Operating income

1,600

億

¥160 billion

62

億

¥6.2 billion

日

食 材卸 網

業規 模

飛躍

的

大

業

盤

整備

進

世 界

和 酒

和 食

場

ン

ン

向

地歩

固

Dramatically expand our scope of business

by enlarging our overseas Japanese food

wholesaler

network,

together

with

developing our business foundation and

strengthening our position with the goal of

becoming a leading company in the global

Japanese alcoholic beverages and foods

market.

2020

3

期目標

FY2020 Tangible goals

連結売

高

Net sales

連結営業利益

Operating income

750

億

¥75 billion

43

億

¥4.3 billion

産業支援

遺伝子

療

食品

各

業部門戦略

推進

支え

経 営

盤

強

企 業

再

生

療等製品企業

ン

向

さ

飛躍的

成長

目指

Strengthen our three business segments,

namely, the Bioindustry, Gene Therapy, and

AgriBio businesses, and the business base

that supports these efforts, enhance our

standing

as

a

global

enterprise

and

regenerative medical product company, and

achieve prodigious growth.

2020

3

期目標

FY2020 Tangible goals

連結売

高

Net sales

連結営業利益

Operating income

385

億

¥38.5 billion

40

億



術

差異

さ

付加価値商品

開

多様

消費

応

抜

い商品

ン

組

We will continue developing products differentiated through technology application while striving to

expand a full product line-up in order to respond to increasingly diverse consumer needs in a speedy and

timely manner.



高付加価値商品

売

構成比

高

利益率

向

図

We will improve our profit ratio by selling a greater proportion of high added-value products.



安全

安心

商品

提供

く

原材料

安全性確保

品質管理体

強

努

We will continue working to ensure the safety of our raw materials and strengthen our quality control

system in order to provide safe and reliable products.

業戦略

Business policy

海外日

食材卸

業

Japanese Food Wholesale Business in overseas markets



既

場

新規顧客

獲得

周辺

進出

各社

業成長

図

We will achieve business growth at group companies by

acquiring new customers in existing markets and by

moving into peripheral business areas.



さ

ワ

大

向

企業

選定

進

会社 間

効 果創 出

組

We will select partner companies that can help to further

expand our network as well as making efforts to create

synergy between group companies.



海外生産

点

高品質清酒

ン

図

ン

清酒

澪

ン

輸出戦略

強

組

We will expand our product lineups of

high-quality sake at our overseas

production bases as well as striving to

strengthen export strategy, including

the establishment of Mio Sparkling

Sake as a global brand.

海外酒類

業

Overseas Alcoholic Beverages Business



再

生

療

等

製

品

関

連

CDMO

業

ン

ワン

堅

持

We will remain number one in

CDMO

business

involving

regenerative medical products.

産業支援

業

Bioindustry Business

遺伝子

療

業

Gene Therapy Business

食品

業

AgriBio Business



日

初

遺伝子治療薬

認

得

目指

We

will

aim

to

acquire

approval for the first gene

therapy product in Japan.



第

収 益

業

安

定 的 営 業 黒

◆

別売

構成比

Composition of Net Sales by Product Category

◆

別売

高推移

Net Sales by Product Category

2017 3 期

Year ended March 31, 2016

7 0 ,1 4 7 6 5 ,6 2 5 6 3 ,2 2 3 5 9 ,0 7 0 5 7 ,7 8 3 40,000 50,000 60,000 70,000 '13/3'14/3'15/3'16/3'17/3

焼

Shochu

2 0 ,0 8 1 2 1 ,4 0 4 2 2 ,5 9 0 2 1 ,9 3 7 2 2 ,3 8 7 10,000 15,000 20,000 25,000 '13/3'14/3'15/3'16/3'17/3 2 5 ,8 4 4 2 6 ,7 1 4 2 5 ,8 4 5 2 7 ,7 5

6 30

,7 2 1 15,000 20,000 25,000 30,000 '13/3'14/3'15/3'16/3'17/3

清酒

Sake

飲料

RTD

6 ,2 3 5 6 ,2 3 2 6 ,1 4 0 6 ,1 2 2 6 ,8 9 8 0 5,000 10,000 15,000 '13/3'14/3'15/3'16/3'17/3

そ

他酒類

Other liquors

1 4 ,1 7 4 1 4 ,4 0 8 1 4 ,0 5 7 1 4 ,5 1 2 1 4 ,5 0 6 5,000 10,000 15,000 '13/3'14/3'15/3'16/3'17/3 7 ,5 9 4 8 ,3 6 1 8 ,6 0 2 8 ,9 1 3 9 ,3 8 3 0 5,000 10,000 '13/3'14/3'15/3'16/3'17/3 Hon Mirin 6 ,9 1 4 6 ,8 8 6 7 ,4 2 3 7 ,1 8 0 7 ,7 7 1 0 5,000 10,000 '13/3'14/3'15/3'16/3'17/3

原料用

Raw alcohol

位： 万 (Millions of yen)

38.7%

15.0% 20.6%

4.6% 9.7%

6.3%5.2% 焼

清酒

飲料

そ 他酒類

そ 他調味料

原料用 等

Shochu

Sake

Light-alcohol refreshers (RTD)

Other liquors

Hon Mirin Other seasonings

Raw alcohol

そ

他調味料

Other seasonings

宝酒造

Takara Shuzo

ン 情報 Business Segment Information

2017 7 3日付 宝酒造 ン 株式会社 設立 伴

い 2018 3 期 業 ン 変更 い 2016 3 期

以前 数値 宝酒造 売 高 輸出 差 引い 参考値

TAKARA HOLDINGS INC

₉

◆事業概要

Business Outline

宝グ プ 中核事業 あ 国内酒類 調味料事業 歴史 4 年 さ ぼ す 以来 年 わ 時代

や消費者 求め 価値観や嗜好 対し 常 独創的 確 技術 裏付け 商品 提供し し

そし 現在 清酒 焼酎や和 調味料 本 日本 伝統的 酒類 調味料 あ 和酒 強 持 国内

有数 メ し 独自 技術開発力 安定的 生産体制 生 出さ ンス 商品 トフ 築

い い す

The history of the Takara Group’s core Alcoholic Beverages and Seasonings Business goes back to 1842. We have been providing for more than 170 years a wide variety of products underpinned by our creative and proven technology responding to the values and tastes of consumers.

As one of Japan’s leading manufacturers of traditional Japanese alcoholic beverages and seasonings such as sake, shochu, or hon‐mirin, we have built up our balanced product portfolio generated by our unique development capabilities of new technologies with the stable production system.

焼酎

Shochu

清酒

Sake

ソフトア

コ

飲料

Light

‐

Alcohol

 

Refreshers

調味料

Seasonings

宝焼酎 Takara  Shochu

宝焼酎

純 Takara Shochu Jun

全量芋焼酎

一刻者 Ikkomon 100% sweet 

‐potato‐base

本格焼酎

い Yokaichi 宝焼酎

NIPPON

Takara Shochu NIPPON

松竹梅 Sho‐Chiku‐

Bai

松竹梅

白壁蔵

澪 Mio  sparkling 

sake

松竹梅

天 Ten

松竹梅

豪快 Gokai 松竹梅

白壁蔵 Sho‐Chiku‐

Bai  Shirakabe‐

gura

タ CAN

チュ イ

Takara  Can Chu‐Hi

タ

焼酎

イ Takara Shochu High Ball

直搾 Zikasibori

果実 キ

Kajitsu‐na‐ kire

タ

本 Takara  Hon Mirin

料理 め

清酒 Ryori‐no‐ Tame‐no 

Seishu

上手 Teri‐jozu し く

year

商品展開

Product History

業界

動

Alcohol Market Trends

1842

創業

清酒

製造

販売

開始

Founding (began manufacturing and selling sake)

1864

焼

製造

開始

Began manufacturing shochu and mirin

1916

新式焼

寶焼

製造

開始

Commenced production of new type Shochu Takara Shochu

1933

松竹梅酒造

設立

Sho-Chiku-Baibrewing established

1957

業

参入

1967

撤

Entered beer business (Withdraw in 1967)

1959

消費

清酒

回

Beer consumption exceeded Sake

1968

松竹梅

売

び

清酒

松竹梅

躍進

Launched Sho-Chiku-Bai Take, Sho-Chiku-Bai made great advances as sake for celebrations

1975

清酒

消費

Sake consumption peaked

1977

宝焼

純

売

Launched Takara Shochu Jun

1982

米国

清酒製造

開始

Commenced sake brewing in the U.S. Light-alcohol refreshers boom appeared

1984

CAN

売

Launched Takara Can Chu-Hi

焼

消費

回

Shochu consumption exceeded whiskey

1993

焼

い

売

Launched honkaku (Otsu-type / single distilled) Shochu Yokaichi

2000

焼

Honkaku Shochu boom appeared

2001

全

芋焼

一刻者

売

Launched Ikkomon, which stresses its 100% sweet-potato-base

2002

芋焼

到来

Sweet-potato-based Shochu boom arrived

2003

焼

消費

清酒

回

Shochu consumption exceeded Sake

酒類販売免許

実質自

Liquor license was substantially liberalized

2006

焼

売

Launched Takara Shochu High Ball

2008

松竹梅

壁蔵＜生酛純米＞

売

Launched Sho-Chiku-Bai Shirakabe-gura Kimoto Junmai

2011

松竹梅

壁蔵

澪

ン

清酒

売

Launched Sho-Chiku-Bai Shirakabe-gura Mio Sparkling Sake

2016

宝焼

NIPPON

売

Launched Takara Shochu Nippon

3,000 5,000 7,000 9,000 11,000

合計

び 泡酒

清酒

焼 類

焼 乙類

焼 合計

ワ ン

び ン

Total

Beer & low-malt beer (happoushu) Sake

Shochu Ko-Type Shochu Otsu-Type Shochu (total) Wine

Whisky & Brandy Liqueurs

0.0 20.0 40.0 60.0 80.0 100.0

0 500 1,000 1,500 2,000 2,500

合計

び 泡酒

清酒

焼 類

焼 乙類

焼 合計

ワ ン

び ン

Total

Beer & low-malt beer (happoushu) Sake

Shochuko-type Shochuotsu-Type Shochu (total) Wine

Whisky & Brandy Liqueurs

◆酒類課税数

推移

Trend in Taxed Shipments of Alcoholic Beverages in Japan (1)

位：千㌔㍑ (Thousand KL)

国

酒類

場

Alcohol Market Data in Japan

成人一人当

酒類消費数

㍑

Alcoholic Beverages consumption per person (L)

◆酒類課税数

推移

Trend in Taxed Shipments of Alcoholic Beverages in Japan (2)

位：千㌔㍑ (Thousand KL)

0 2,000 4,000 6,000 8,000 10,000 12,000

び 泡酒

清酒

焼 合計

ワ ン

び ン

そ 他

Beer & low-malt beer (happoushu) Liqueurs

Sake

Shochu (total) Wine

Whisky & Brandy Other

◆酒税

税率

2017

12

現在

Liquor Tax Rates in Japan as of Dec. 2017

位： (Yen)

出典：国税庁 Source: National Tax Agency

◆製品

1

あ

酒税額

2017

12

現在

Liquor Tax Per Product as of Dec. 2017

Kind

税率

1㌔㍑当

Tax rate (per KL)

1度

あ 加算額

Additional amount of tax per 1% of alcohol

泡性酒類 等

Sparkling alcohol drinks (beer etc.) 220,000

-泡酒 麦芽比率25%～50% 満

Low malt beer (the ratio of malt not less than 25% and less than 50%) 178,125 -泡酒 麦芽比率25% 満

Low malt beer (the ratio of malt less than 25%) 134,250

-そ 他 泡性酒類 等 原料 除く

Others (except hop-based liquors) 80,000

-醸造酒類

Fermented liquor 140,000

-清酒

Sake 120,000

-果実酒

Wine 80,000

-蒸留酒類 焼 等 20度

Distilled liquor (Shochu etc.) (20% of alcohol) 200,000 10,000

ン 37度

Whisky, Brandy, Spirits (37% of alcohol) 370,000 10,000

混成酒類 20度

Miscellaneous liquor (20% of alcohol) 220,000 11,000

合成清酒

Sake compound 100,000

-Mirin 20,000

-甘味果実酒 12度

Sweet wine or liqueur (12% of alcohol) 120,000 10,000

粉 酒

Powdered liquor 390,000

-Kind

製品名 Product name

容

Volume Alcohol

参考小売価 税込

Suggested retail price

酒税額 Liquor tax

焼 Shochu

宝焼

Takara Shochu

4㍑ 4 liter

25度 25%

3,144 ¥3,144

1,000 ¥1,000

清酒 Sake

撰松竹梅

Sho-Chiku-BaiSake Josen

1.8㍑ 1.8 liter

15度 15%

2,017 ¥2,017

216 ¥216

飲料 Light-alcohol refreshers (RTD)

can Takara Can Chu-Hi

350㍉㍑ 350 milliliter

8度 8%

226 ¥226

28 ¥28

Beer

350㍉㍑ 350 milliliter

5度 5%

221 ¥221

77 ¥77

泡酒 麦芽比率25% 満

Low malt beer (the ratio of malt less than 25%)

350㍉㍑ 350 milliliter

5.5度 5.5%

164 ¥164

47 ¥47

そ 他 泡性酒類

Others

350㍉㍑ 350 milliliter

5度 5%

143 ¥143

◆

別売

構成比

Composition of Net Sales by Business Category

◆

別業績推移

Financial Summary by Business Category

2017 3 期

Year ended March 31, 2016

万

(Millions of yen)

宝酒造

ン

Takara Shuzo International Group

24.5%

75.5% 海外酒類 業

海外日 食材卸 業

Overseas Alcoholic beverages business

Japanese food wholesale business in overseas markets

参考 海外売 高比率

Overseas sales ratio

99.3% 5 ,6 8 2 7 ,4 0 4 8 ,5 9 5 9 ,5 0 3 9 ,4 0 2 4 ,7 9 1 9 ,0 7 7 1 7 ,6 3 8 2 0 ,6 6 8 2 8 ,9 6 3 0 10,000 20,000 30,000 40,000 '13/3'14/3'15/3'16/3'17/3

海外日 食材卸 業

海外酒類 業

合計

Total 2 6 ,8 4 5 2 8 ,3 7 5 2 9 ,1 0 7 3 1 ,0 5 3 3 2 ,7 8 3 0 10,000 20,000 30,000 40,000 '13/3'14/3'15/3'16/3'17/3 5 3 ,5 8 9 4 9 ,7 9 7 4 9 ,9 5 4 4 8 ,3 2 7 4 6 ,9 9 7 0 20,000 40,000 60,000 '13/3'14/3'15/3'16/3'17/3

米国宝酒造

Takara Sake USA Inc.

宝酒造食品

Takara Shuzo Foods Co.,Ltd.

1 4 ,3 0 9 1 5 ,1 8 9 1 6 ,2 8 8 1 5 ,5 7 7 1 4 ,5 1 0 0 5,000 10,000 15,000 20,000 '13/3'14/3'15/3'16/3'17/3 1 0 ,6 0 1 1 3 ,1 6 1 1 5 ,8 4 6 1 7 ,1 7 4 2 0 ,4 8 0 0 5,000 10,000 15,000 20,000 25,000 '13/3'14/3'15/3'16/3'17/3

ン

The Tomatin Distillery Co.,Ltd.

4 6 ,7 2 2 5 3 ,8 2 2 9 1 ,1 9 6 1 1 3 ,4 7 3 1 3 3 ,9 1 4 0 50,000 100,000 150,000 '13/3'14/3'15/3'16/3'17/3 FOODEX Group

ン

AGE INTERNATIONAL,INC.

※宝酒造 ン 2018 3 期 新 い 業 ン あ 2016 3 期以前

数値 参考値 2017 3 期 別売 高 連結消去前

As Takara Shuzo International Group is a new business segment from the fiscal year ended March 2018, figures before the fiscal year ended March 2016 are reference values. In addition, Net sales by business category in the fiscal year ended March 31, 2017 included elimination of intra-company transactions.

0 13

,4 0 0 2 8 ,0 2 9 2 9 ,5 1 3 3 4 ,4 8 2 0 10,000 20,000 30,000 40,000 '13/3'14/3'15/3'16/3'17/3

0 0 0 0

7 0 ,9 1 9 0 20,000 40,000 60,000 80,000 '13/3'14/3'15/3'16/3'17/3 TAZAKI FOODS LTD.

ン

Mutual Trading Co., Inc.

千US

(Thousands of US dollar)

千元

(Thousands of Yuan)

千 ン

(Thousands of US Pound)

千US

(Thousands of US dollar)

千 ン

(Thousands of US Pound)

千US

(Thousands of US dollar)

千

(Thousands of Euro)

●海外日

食材卸

業

Japanese food wholesale business in overseas markets

◆

業概要

Business Outline

近 世界的 健康志向 高 や 和食 無形文 遺産 録 契機 海外 日 食 人気

高 中 宝酒造 ン 海外 日 食 ンや小売店 日 食材 販売 海外日

食材卸 業 酒類 輸出や海外各地 製造販売 行う海外酒類 業 展開 い

Takara Shuzo International Group operates the Japanese Food Wholesale Business in overseas markets, which sells Japanese food to Japanese restaurants and retail stores overseas, and the Overseas Alcoholic Beverage Business, which exports alcoholic beverages as well as manufacturing and selling them overseas amid the increasing popularity of Japanese food overseas in recent years brought about by rising health consciousness around the world and the registration of Washoku as UNESCO Intangible Cultural Heritage..

海外酒類

業

Overseas Alcoholic beverages business

海外日

食材卸

業

Japanese food wholesale business in overseas markets

日 輸 出 び 海 外 現 地 生 産 清 酒

松竹梅 等 自社 ン 世界各地域 提供 い

Providing its Sho-chiku-bai sake and other Takara branded products worldwide by export from Japan and the local production in overseas countries.

欧 や米国 現地卸会社

や 日 食材や調味料 日

食 ン 供給 い

Providing diverse Japanese foodstuffs such as rice, sushi toppings as well as all manner of foods and seasonings for Japanese cuisine restaurants with local wholesalers in Europe, the U.S. and Australia.

FOODEX S.A.S.

米国宝酒造

Takara Sake USA Inc.

宝酒造食品

限公

Takara Shuzo Foods Co., Ltd.

海宝酒造貿易

限公

Shanghai Takara Shuzo International Trading Co., Ltd.

●海外日 食材卸 業 Japanese food wholesale business in overseas market

●海外酒類 業 Overseas alcoholic beverages business

ン

Age International, Inc.

ン

The Tomatin Distillery Co. Ltd

Tazaki Foods Ltd

ン

Cominport Distribución S.L.

宝酒造

Takara Shuzo Asia Pacific Pte. Ltd.

ン

Mutual Trading Co., Inc.

駐在 務所

Paris Representative Office

ン

ン駐在

務所

U.K. Representative Office

FOODEX Group Keta Foods, Lda

ン

Nippon Food Supplies Company Pty Ltd.

宝酒造

ン

◆

海外清酒

場

動向

Trends in the Size of the Overseas Sake Market

1

2

,3

1

2

1

3

,1

3

3

1

3

,3

0

9

1

3

,2

3

0

1

3

,9

5

0

1

5

,8

7

6

1

6

,3

0

8

1

6

,7

9

4

1

7

,1

7

0

1

7

,8

6

0

1

8

,1

5

8

1

0

,2

6

9

1

1

,3

3

4

1

2

,1

5

1

1

1

,9

4

9

1

3

,7

7

0

1

4

,0

2

2

1

4

,1

3

1

1

6

,2

0

2

1

6

,3

1

4

1

8

,1

8

0

1

9

,7

3

7

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

現地生産

輸出

㌔㍑ ( KL )

Local production Exports

<2006>

約

24,000

店

Approx. 24,000

→

<2013>

約

55,000

店

Approx. 55,000

→

<2015>

約

89,000

店

Approx. 89,000

→

<2017>

約

118,000

店

Approx. 118,000

米

North America

25,300

(25,100)

欧

Europe

12,200

(10,550)

中

米

Central and South America

4,600

(3,100)

Oceania

2,400

(1,850)

Asia

69,300

(45,300)

Russia

2,400

(1,850)

Africa

350

(300)

中東

Middle East

950

(600)

*図中 段 2017 店舗数 段 2015 店舗数

* Upper numbers are from 2017, lower numbers in parentheses are from 2015.

<出典> 農林水産省

<Source> Ministry of Agriculture, Forestry and Fisheries

◆

別売

構成比

Composition of Net Sales by Business Category

◆

別業績推移

Financial Summary by Business Category

2017 3 期

Year ended March 31, 2017

1

6

,9

9

7 21

,6 6 3 2 3 ,5 9

3 ₂7,3

2 0 2 6 ,5 7 3 5,000 10,000 15,000 20,000 25,000 30,000 '13/3'14/3'15/3'16/3'17/3

産業支援

Bioindustry 2 ,3 2 6 2 ,2 4 2 2 ,3 7 6 2 ,4 0 8 2 ,3 0 1 0 1,000 2,000 3,000 '13/3'14/3'15/3'16/3'17/3 1 ,2 4 0

0 0 0 50

0 0 1,000 2,000 3,000 '13/3'14/3'15/3'16/3'17/3

食品

AgriBio

遺伝子

療

Gene Therapy

位： 万 (Millions of yen)

●売

高

Net sales

●売

高

Net sales

●売

高

Net sales

4 ,8 3 1 4 ,8 0 6 5 ,2 1 2 6 ,1 3 8 6 ,2 1 8 2,000 3,000 4,000 5,000 6,000 7,000 '13/3'14/3'15/3'16/3'17/3 ▲ 3 0 4 ▲ 2 8 5 ▲ 2 1 6 1 1 0 1 0 4 ▲400 ▲200 0 200 '13/3'14/3'15/3'16/3'17/3 ▲ 1 ,1 1 2 ▲ 9 4 9 ▲ 1 ,2 1 1 ▲ 1 ,7 7 3 ▲ 1 ,3 8 0 ▲1,800 ▲1,200 ▲600 0 '13/3'14/3'15/3'16/3'17/3

●営業利益

Operating income

●営業利益

▲：損失

Operating income ▲:loss

●営業損失

Operating loss

7 2 4 1 ,6 7

4 ₁,94 5 2,2

9 8 2 ,0 9 4 0 500 1,000 1,500 2,000 2,500 '13/3'14/3'15/3'16/3'17/3 1 2 9 1 5 1 1 5 3 1 1 1 2 9 0 200 400 600 '13/3'14/3'15/3'16/3'17/3 1 ,4 5 8 9 1

4 1,2

0 0 1 ,7 5 6 1 ,8 6 0 0 500 1,000 1,500 2,000 '13/3'14/3'15/3'16/3'17/3

●研究開

費

R&D expenses

●研究開

費

R&D expenses

●研究開

費

R&D expenses

Takara Bio Group

66.2% 9.9%

14.4%

1.7% 7.8%

研究用試薬

理 学機器

託 そ 他

遺伝子 療 業

食品 業

Research reagents Scientific instruments Contracted service and other Gene Therapy

AgriBio

産業支援 業

Bioindustry

※2015 3 期 遺伝子 療 業 機能 一部 産業支援 業 移管 統合

2013 3 期以前 数値 移管 統合前 参考値

From the fiscal year 2015, some functions of the Gene Therapy Business were transferred and merged into the Bioindustry Business.

Figures before the fiscal year ended March 2013 are reference values.

参考 海外売 高比率

Overseas sales ratio

50.4%

◆

業概要

Business Outline

宝 業 使命 遺伝子治療 革新的 術 開 通 人々 健康 献

そ 実現 担う 術 盤 あ 産業支援 業 安定的 収益 創出

第 収益 業 食品 業 育成 努 い 両 業 得 利益 遺伝子 療 業 投

資 遺伝子治療 早期商業 目指 い

The mission of the TakaraG oup’sBiomedical Business is to contribute to the health of humankind by developing revolutionary biomedical technologies such as gene therapy. The Takara Bio Group—whose role is to make this reality—is generating stable earnings from the Bioindustry Business, which forms the core of its technology base in addition to striving to develop the AgriBio Business as a secondary income business. We are working to achieve the early commercialization of gene therapies by investing the management resources from these two businesses in the Gene Therapy Business.

産業支援

業

Bioindustry business

研 究 支 援 CDMO 双 方

世 界中 研究 支 援 い

遺伝子増幅 用い 高性能

PCR酵素や PCR装置 幹

細胞関連製品 場 応

研究用試薬や 理 学 機器 開

販売 次世代 ン 解

析 やiPS細 胞 作 製 託

提供 い

This business supports life science research worldwide, in both the research support field and the CDMO business. The Group reflects market needs by developing and supplying research reagents and scientific instruments such as highly functional PCR enzymes and real-time PCR systems used for gene amplification, in addition to contract research services including next-generating sequencing and contract production services for iPS cells.

遺伝子

療

業

Gene Therapy business

食品

業

AgriBio business

象 遺 伝 子 治 療

臨床開 進 い

悪性黒色腫や膵 象 腫

瘍 溶 解 性 HF10 滑 膜 肉 腫

象 NY-ESO-1 siTCR遺 伝 子 治

療 び 急性 ン 芽球性 血病

象 CD19･CAR遺伝子治療 早

期商業 目指

This business implements clinical development of gene therapies, primarily targeting cancer.

It is aiming for the early commercialization of oncolytic virus HF10 targeting malignant melanoma and pancreatic cancer, NY-ESO-1 siTCR gene therapy targeting synovial sarcoma, and CD19-CAR gene therapy targeting acute lymphocytic leukemia.

食品素材 解析

昆 ン ン

ン 機能性 活

健康食品素材 開 製造 い

大規模 術 活

ン 生

産 販売 い

◆遺伝子

療

臨床開

Schedule for Clinical Development of Gene Therapy Project

●自社

独開

Independent development projects

●提携

Joint Projects

*ALL：B細胞性急性 ン 芽球性 血病 ALL* : B-cell acute lymphoblastic leukemia Project

象疾患

Target disease Phase

提携先 Partner

HF10

日 Japan

膵

Pancreatic cancer

第 相臨床試験 進行中

Phase I clinical trials: In progress

大塚製薬㈱ Otsuka Pharmaceutical

米国 U.S.

悪性黒色腫 Malignant Melanoma

第 相臨床試験 計画中

Phase III clinical trials: In planning

siTCR

NY-ESO-1 日

Japan

食

Esophageal cancer, etc.

第 相臨床試験 進行中

Phase I clinical trials: In progress

MAGE-A4 日

Japan

食

Esophageal cancer, etc.

第 相臨床試験 進行中

Phase I clinical trials: In progress

CAR CD19 CAR 日

Japan

小児ALL* Child ALL*

計画中 In planning Project

象疾患

Target disease Phase

商業 目標

Goal of Commercialization

HF10 日

Japan

悪性黒色腫 Malignant Melanoma

第 相臨床試験 進行中

Phase II clinical trials: In progress

2019

3 期

FY2019

siTCR NY-ESO-1 日

Japan

滑膜肉腫 Synovial sarcoma

第 / 相臨床試験 進行中

Phase I / II clinical trials: In progress

2021

3 期

FY2021

CAR CD19 CAR 日

Japan

成人ALL* Adult ALL*

第 / 相臨床試験 進行中

Phase I / II clinical trials: In progress

2021

3 期

務

編

Financial Data

業績推移

連結

務諸表

/

主要

務指標

20

間

業績推移

20-year Financial Results

13,534 (7.2%)

12,788 (6.5%)

13,053 (6.7%)

10,914 (5.7%)

11,613 (6.3%)

11,941 (6.2%)

11,585 (6.3%)

8,695 (4.7%)

8,606 (4.6%)

9,360 (4.8%)

7,402 (3.8%)

5,924 (3.0%)

7,660 (3.9%)

8,506 (4.4%)

8,851 (4.6%)

8,572 (4.5%)

8,335 (4.4%)

9,264 (4.7%)

9,133 (4.5%)

9,490 (4.5%)

11,096(5.1%)

11,680(5.2%)

13,551(5.8%) 5,267

5,782

4,141

4,430

4,231

5,065

5,092

3,481

2,185

5,668

2,614

5,320

4,208

4,658

5,639

4,677

3,788

3,995

4,687

10,280

5,706

7,055

8,480

188,972

196,968

195,257

190,810

185,300

192,318

184,886

183,638

187,394

196,897

195,359

196,119

198,536

191,878

192,790

190,525

189,769

198,690

200,989

209,568

219,490

225,364 234,193 '95/3

'96/3

'97/3

'98/3

'99/3

'00/3

'01/3

'02/3

'03/3

'04/3

'05/5

'06/3

'07/3

'08/3

'09/3

'10/3

'11/3

'12/3

'13/3

'14/3

'15/3

'16/3

'17/3

営業利益 営業利益率 親会社 帰属 当期純利益 売 高

◆宝

ン

連結

Takara Holdings Inc. (consolidated)

位： 万 (Millions of yen)

7,912 (4.7%)

8,385 (4.7%)

6,967 (3.9%)

5,949 (3.4%)

6,568 (3.8%)

7,177 (4.3%)

7,465 (4.4%)

7,129 (4.3%)

6,568 (3.9%)

6,768 (3.9%)

6,387 (3.6%)

6,329 (3.5%)

7,840(4.1%)

8,410(4.4%)

9,755(4.8%)

167,309

179,794

178,277

176,626

174,143

166,788

169,301

166,969

166,790

175,503

176,946

182,306

190,089

192,025

201,171 '03/3

'04/3

'05/5

'06/3

'07/3

'08/3

'09/3

'10/3

'11/3

'12/3

'13/3

'14/3

'15/3

'16/3

'17/3

営業利益 営業利益率 売 高

◆

参考

宝酒造

(Reference) Takara Shuzo Group

位： 万 (Millions of yen)

2002

4

持株会社体

移行

宝酒造株式会社

新設

Restructured to a holding company structure and established Takara Shuzo Co., Ltd. In April 2002

2017

4

宝酒造

ン

設立

伴い

業

ン

変更

次頁

With the establishment of Takara Shuzo International Co., Ltd., business segments have been

revised from the fiscal year ending March 31, 2018. See the next page

6,267(4.2%)

6,209(4.2%)

5,518(3.7%)

5,475(3.6%)

4,926(3.3%)

4,513(3.0%)

4,428(3.0%)

4,082(2.8%)

5,071 (3.4%)

149,934

149,614

147,187

153,551

150,992

149,633

147,884

145,492

149,452 '09/3

'10/3

'11/3

'12/3

'13/3

'14/3

'15/3

'16/3

'17/3

営業利益 営業利益率 売 高

◆宝酒造

Takara Shuzo

位： 万 (Millions of yen)

2017

4

宝酒造

ン

設立

伴い

業

ン

変更

2016

3

期以前

数値

宝酒造

業績

輸出

差

引い

参考値

With the establishment of Takara Shuzo International Co., Ltd., business segments have

been revised from the fiscal year ending March 31, 2018.

(Figures before the fiscal year ended March 2016 are reference values obtained by

subtracting the export amount from net sales of Takara Shuzo Co., Ltd..)

▲105(-)

▲64(-)

39(0.5%)

243(2.6%)

405(3.9%)

907(5.5%)

2,270(8.7%)

2,752(9.0%)

3,182(8.5%) 6,079

5,155

7,565

9,538

10,473

16,481

26,233

30,490

37,540 '09/3

'10/3

'11/3

'12/3

'13/3

'14/3

'15/3

'16/3

'17/3

営業利益 営業利益率 売 高

◆宝酒造

ン

Takara Shuzo International Group

位： 万 (Millions of yen)

Operating income Operating income margin Net sales

2017

4

宝酒造

ン

設立

伴い

業

ン

変更

2016

3

期以前

数値

旧宝酒造

海外

業

業績

く参考値

With the establishment of Takara Shuzo International Co., Ltd., business segments have been

revised from the fiscal year ending March 31, 2018.

▲415(-)

▲265(-)

▲1,086(-)

▲1,486(-)

▲215(-)

560(2.8%)

426(2.3%)

553(2.9%)

1,097(5.9%)

1,547(7.9%)

1,691(8.2%)

1,954(8.2%)

2,302(8.9%)

2,667(9.0%)

3,202 14,376

13,592

13,685

16,534

20,982

20,278

18,913

19,325

18,737

19,578

20,564

23,905

25,969

29,729

29,375 '03/3

'04/3

'05/5

'06/3

'07/3

'08/3

'09/3

'10/3

'11/3

'12/3

'13/3

'14/3

'15/3

'16/3

'17/3

営業利益 営業利益率 売 高

◆

Takara Bio Group

位： 万 (Millions of yen)

2002

4

持株会社体

移行

株式会社

新設

Restructured to a holding company structure and established Takara Bio Inc. In April 2002

◆連結貸借

照表

Consolidated Balance Sheets

位： 万 (Millions of yen)

連結

務諸表

Consolidated Financial Statements

3 31日現在

As of March 31

流動資産

Total current assets

現金及び預金

Cash and deposits

手形及び売掛金

Notes and accounts receivable-trade

価証券

Short-term investment securities

棚卸資産

Inventories

その

Other

固定資産

Total noncurrent assets

形固定資産

Property, plant and equipment

無形固定資産

Intangible assets

投資その の資産

Investments and other assets

資産合計

Total assets

流動 債

Total current liabilities

支払手形及び買掛金

Notes and accounts payable-trade

短期借入金 CP等

Short-term loans payable and Current portion of bonds

その

Other

固定 債

Total noncurrent liabilities

社債

Bonds payable

長期借入金

Long-term loans payable

その

Other

債合計

Total liabilities

株主資

Total shareholder's equity

その 包括利益累計額合計

Total accumulated other comprehensive income

非支配株主持分

Noncontrolling interests

純資産合計

Total net assets

債純資産合計

Total liabilities and net assets

替換算 期 時 　Exchange rates as of the end of the fiscal year

米 US dollar 77.73 86.58 105.40 120.53 120.54 116.53

EURO 100.68 114.69 145.04 146.54 131.67 122.73

人民元 Yuan 12.31 13.91 17.35 19.34 18.34 16.76

207,586 238,577 264,438 253,253 274,368 26,481 25,762 30,877 146,422 158,404 156,148 165,920 14,277

114,318

24,991

115,132 118,830 124,667 10,200 16,791 11,555 10,375 98,503

1,537

111,230

93,268 92,154 106,034 97,104 108,447 18,455 18,178 20,821 19,201 21,944 39,495

417 310 10,334 10,255 10,996

25,000 25,000 20,000 20,000 10,000 49,394 48,663 54,877 47,648 65,505 207,586 238,577 264,438 253,253 274,368 26,235 28,386 38,342 30,103 31,025 5,426 11,662 12,358 11,010 10,256 4,798 24,481

4,370 71,359

42,639 47,976 53,085 53,065 59,174 41,996

103,786 94,179

4,899 5,111 4,915 4,627

13,237 25,705 30,988 32,800 34,218 39,851 36,789 41,015 41,296 38,386 58,073

21,534 27,022 28,238

133,285 150,551 160,653 159,073 173,912

100,456 2012/3

126,078 30,843 50,721 15,660

50,630 51,901 54,617 53,602 57,951 2013/3 2014/3 2015/3 2016/3 2017/3

15,260

74,301 88,025

51,247 24,126 5,236

197,437

197,437 107,659 (2,728) 12,876 97,512 20,000 496 18,034 89,777 38,530 13,976 10,018 27,252

10,006 5,914 10,292 4,994 9,206

13,028 14,416 15,680 15,201 16,804

◆連結損益計算書

Consolidated Statements of Income

位： 万 (Millions of yen)

3 31日終了の会計 度

Years ended March 31

宝酒造

Takara Shuzo Group

タ ラバ

Takara Bio Group

宝 ス

Takara Healthcare

その

Other, net

売上高

Net sales

売上原価

Cost of sales

売上総利益

Gross profit

販売費及び一般管理費

Selling, general and administrative expenses

宝酒造

Takara Shuzo Group

タ ラバ

Takara Bio Group

宝 ス

Takara Healthcare

その

Other, net

営業利益

Operating income

利息 配当金

Interest and dividends income

その 営業外収益

Other

営業外収益

Non-operating income

支払利息

Interest expenses

その 営業外費用

Other

営業外費用

Non-operating expenses

経常利益

Ordinary income

特別利益

Extraordinary gain

特別損失

Extraordinary loss

税金等調整前当期純利益

Income before income taxes and minority interests

法人税等

Income taxes

当期純利益

Net income

非支配株主 帰属 当期純利益

Net income attributable to the noncontrolling interest

親会社株主 帰属 当期純利益

Net income attributable to owners of the parent

替換算 期中 均 　 Average exchange rates during the fiscal year

米 US dollar 79.79 79.81 97.73 105.79 121.11 108.81

EURO 111.11 102.56 129.78 140.35 134.31 120.30

人民元 Yuan 12.35 12.66 15.92 17.18 19.23 16.36

4,687 10,280 5,706 7,055 8,480

6,365 7,769 9,236

726 659 713 755

5,247 560

11,006

11,453 12,548 14,520

7,635 5,088 4,778 5,283

9,256 4,008

18,642

1,989 832 689 644 950

1,948 9,565 315 353 1,126

9,296 9,909 11,827 12,840 14,344

862 703 746 671 744

338 238 276 223 262

523 464 470 447 481

1,025 1,122 1,478 1,830 1,537

488 559 786 1,082 878

536 562 691 747 659

9,133 9,490 11,096 11,680 13,551

1,076 1,184 914 538 580

(22) 21 38 64 12

1,691 1,954 2,302 2,667 3,202

6,387 6,329 7,840 8,410 9,755

140,182 198,690

121,462 77,228

68,225 70,631 74,003 77,815 80,458 67,963

85,099 89,495 123,630 129,447 134,390 135,868

1,879 200,989 209,568 219,490 225,364 234,193 20,564 23,905 25,969 29,729 29,375

1,931 1,779 1,744

176,946 182,306 190,089 192,025 201,171

94,010 2012/3

175,503 19,578 2,338 1,269

2,008 1,424 1,652 1,865 1,766

2013/3 2014/3 2015/3 2016/3 2017/3

1,469

77,359 80,121

1,473 446 9,617

3,995 421 4,417 4,173 8,590 6,768 1,547 (114) 1,063 9,264

535 539

◆連結

計算書

Consolidated Statements of Cash Flows

位： 万 (Millions of yen)

3 31日終了の会計 度

Years ended March 31

営業活動 よ キャッシ フ

Net cash provided by (used in) operating activities

税金等調整前当期純利益

Income before income taxes and minority interests

減価償却費

Depreciation and amortization

売上債権の増減額 ： 増加額

Decrease (increase) in notes and accounts receivable-trade

た 卸資産の増減額 ： 増加額

Decrease (increase) in inventories

入債務の増減額 ： 減少額

Increase (decrease) in notes and accounts payable-trade

法人税等の支払額

Income taxes paid

その

Other, net

投資活動 よ キャッシ フ

Net cash provided by (used in) investing activities

形 無形固定資産の 得 よ 支出

Purchase of property, plant and equipment and intangible assets

形固定資産の売却 よ 収入

Proceeds from sales of property, plant and equipment

連結の範囲の変更を伴う子会社株式の 得 よ 支出

Purchase of investments in subsidiaries resulting in change in scope of consolidation

その

Other, net

務活動 よ キャッシ フ

Net cash provided by (used in) financing activities

社債の発行及び長期借入 よ 収入

Proceeds from bonds and long-term loans payable

社債の償還及び長期借入金の返済 よ 支出

Repayments of bonds and long-term loans payable

自己株式の 得 よ 支出

Purchase of treasury stock

配当金の支払額

Cash dividends paid

その

Other, net

現金及び現金 等物 係 換算差額

Effect of exchange rate changes on cash and cash equivalents

現金及び現金 等物の増減額

Net increase (decrease) in cash and cash equivalents

現金及び現金 等物の期首残高

Cash and cash equivalents at beginning of period

現金及び現金 等物の期 残高

Cash and cash equivalents at end of period

替換算 期中 均 　Average exchange rates during the fiscal year

米 US dollar 79.79 79.81 97.73 105.79 121.11 108.81

EURO 111.11 102.56 129.78 140.35 134.31 120.30

人民元 Yuan 12.35 12.66 15.92 17.18 19.23 16.36

781 28,384

29,165 42,749 32,536

29,165

(968) 866

1,709 34

(2,413) (365) (149) 10,950 (872) (2,512) (320) (1,768) (1,851) (1,827) (2,214) (2,014)

(1,582) (1,521) (6) (1) (0)

22,503

970 55

2,562 6,819 (9,482) (2,828)

36 9,938 68 10,100 120 13

(81) (5,126) (5,107) (187) (5,074) (108)

(48) (5,743) (276) 0 (1,327)

1,776 (1,746) (5,179) 1,229

227 57 400

(5,388) (8,322) (8,457) (5,743) (5,376)

(1,283) 464 998 (239) 208

(4,664)

(3,672) (12,254) (10,253) (10,864) 16,200 (5,218) (3,520)

(1,308) (11,005) 2,905

4,251 4,287 4,662 5,179 5,171

23 (2,405) (909) (2,171) (1,377)

548 786 (1,344)

35,287 34,608 42,749 35,287 34,608

2013/3 2014/3 2015/3 2016/3 2017/3

31 6,121 (679) 8,140 (10,212) 26,228

1,779 2,030 (240)

(2,202) 688

596

(3,536) (7,362)

9,256 18,642 11,453 12,548 14,520 7,967 7,233 9,545 10,373 12,826

32,536 58,765 2012/3

9,013

(4,779)

(3,265)

(186) 4,171

570 8,590

(455) 4,431 (5,787)

(4,456) 647

-(2,507)

単位： 百万 / % 単位： 百万 / %

(Millions of yen / %) (Millions of yen / %)

度 営業利益 売上高営業利益率 度 親会社帰属当期純利益 売上高当期純利益率

FY Operating income Operating income margin FY Net income attributable to owners of the parent _{Net income margin}

'12/3 9,264 4.7% '12/3 3,995 2.0%

'13/3 9,133 4.5% '13/3 4,687 2.3%

'14/3 9,490 4.5% '14/3 10,280 4.9%

'15/3 11,096 5.1% '15/3 5,706 2.6%

'16/3 11,680 5.2% '16/3 7,055 3.1%

'17/3 13,551 5.8% '17/3 8,480 3.6%

営業利益 売上高営業利益率

Operating income, Operating income margin

親会社株主 帰属 当期純利益 売上高当期純利益率

Net income attributable to owners of the parent, Net income margin

3.0% 4.0% 5.0% 6.0%

7,000 9,000 11,000 13,000

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

営業利益

売上高営業利益率

Operating income Operating income margin

1.0% 2.0% 3.0% 4.0% 5.0% 6.0%

1,000 3,000 5,000 7,000 9,000 11,000

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

親会社帰属当期純利益

売上高当期純利益率

Net income attributable to owners of the parent Net income margin

連結

務指標

Consolidated Financial Indicators

◆損益動向

Profit and Loss Trends

3 31日終了 会計 度

Years ended March 31

単位： 百万 / % 単位： 百万 / %

(Millions of yen / %) (Millions of yen / %)

度 売上原価 売上高原価率 度 販売費及び一般管理費 売上高販管費率

FY Cost of sales Ratio to net sales FY SG&A expenses Ratio to net sales

'12/3 121,462 61.1% '12/3 67,963 34.2%

'13/3 123,630 61.5% '13/3 68,225 33.9%

'14/3 129,447 61.8% '14/3 70,631 33.7%

'15/3 134,390 61.2% '15/3 74,003 33.7%

'16/3 135,868 60.3% '16/3 77,815 34.5%

'17/3 140,182 59.9% '17/3 80,458 34.4%

売上原価 売上高原価率

Cost of sales, Ratio to net sales

販売費及び一般管理費 売上高販管費率

SG&A expenses, Ratio to net sales

59.5% 60.0% 60.5% 61.0% 61.5% 62.0%

100,000 110,000 120,000 130,000 140,000 150,000

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

売上原価 売上高原価率

Cost of sales Ratio to net sales

33.0% 33.5% 34.0% 34.5% 35.0%

60,000 65,000 70,000 75,000 80,000

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

販売費及び一般管理費 売上高販管費率

度 自己資 利益率 ROE 度 総資産利益率 ROA

FY Return on shareholders' equity (ROE) FY Return on total assets (ROA)

'12/3 4.2% '12/3 2.0%

'13/3 4.8% '13/3 2.3%

'14/3 9.3% '14/3 4.6%

'15/3 4.5% '15/3 2.3%

'16/3 5.4% '16/3 2.7%

'17/3 6.4% '17/3 3.2%

自己資 利益率 ROE

Return on shareholders' equity (ROE)

総資産利益率 ROA

Return on total assets (ROA)

1.0% 3.0% 5.0% 7.0% 9.0% 11.0%

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

自己資 利益率 ROE

Return on shareholders' equity (ROE)

0.0% 1.0% 2.0% 3.0% 4.0% 5.0%

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

総資産利益率 ROA

Return on total assets (ROA)

◆

務状態

Financial Condition

3 31日終了 会計 度

Years ended March 31

D/E シオ＝ 利子負債／自己資本×100

D/E ratio = Interest-ea i g de t / “ha eholde s’ e uit

単位： 百万 / % 単位： 百万 / %

(Millions of yen / %) (Millions of yen / %)

度 自己資 自己資 比率 度 利子 債 / シ

FY Shareholders' equity Shareholders' equity ratio FY Interest-bearing debt D/E ratio

'12/3 94,783 48.0% '12/3 38,493 40.6%

'13/3 100,040 48.2% '13/3 43,098 43.1%

'14/3 121,431 50.9% '14/3 38,090 32.0%

'15/3 131,923 49.9% '15/3 48,324 36.6%

'16/3 130,386 51.5% '16/3 42,837 32.9%

'17/3 135,043 49.2% '17/3 47,852 35.4%

自己資 自己資 比率

Shareholders' equity, Shareholders' equity ratio

利子 債 / シ

Interest-bearing debt, D/E ratio

46.0% 48.0% 50.0% 52.0%

80,000 100,000 120,000 140,000

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

自己資 自己資 比率

Shareholders' equity Shareholders' equity ratio

25.0% 30.0% 35.0% 40.0% 45.0% 50.0%

0 10,000 20,000 30,000 40,000 50,000

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

利子 債

D/E シ

◆

1

株当

Per Share Data

3 31日終了 会計 度

Years ended March 31

◆そ

他

Other

3 31日終了 会計 度

Years ended March 31

単位： 単位：

(Yen) (Yen)

度 1株当た 当期純利益 EPS 度 1株当た 純資産 BPS

FY Net income per share (EPS) FY Net assets per share (BPS)

'12/3 19.32 '12/3 461.41

'13/3 23.01 '13/3 493.14

'14/3 50.83 '14/3 603.44

'15/3 28.36 '15/3 655.60

'16/3 35.06 '16/3 647.97

'17/3 42.15 '17/3 671.11

1株当た 当期純利益 EPS

Net income per share (EPS)

1株当た 純資産 BPS

Net assets per share (BPS)

10.00 20.00 30.00 40.00 50.00 60.00

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3 1株当 当期純利益 EPS Net income per share (EPS)

400.00 450.00 500.00 550.00 600.00 650.00 700.00

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3 1株当 純資産 BPS Net assets per share (BPS)

位： 万 位： 人 %

(Millions of yen) (Persons / %)

度 設備投資額 減価償却費 度 従業員数 海外従業員比率

FY Capital expenditures Depreciation and amortization FY Number of employees Overseas employees ratio

'12/3 5,330 4,431 '12/3 3,384 28.2%

'13/3 5,282 4,251 '13/3 3,465 29.0%

'14/3 8,967 4,287 '14/3 3,631 31.1%

'15/3 9,533 4,662 '15/3 3,697 32.9%

'16/3 6,003 5,179 '16/3 3,780 34.1%

'17/3 6,658 5,171 '17/3 4,407 43.3%

設備投資額 減価償却費

Capital expenditures, Depreciation and amortization

従業員数 海外従業員比率

Number of employees, Overseas employees ratio

0 2,000 4,000 6,000 8,000 10,000

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

設備投資額 減価償却費

Capital expenditures

Depreciation and amortization

0.0% 20.0% 40.0% 60.0% 80.0% 100.0%

2,600 2,800 3,000 3,200 3,400 3,600 3,800 4,000 4,200 4,400 4,600

'12/3 '13/3 '14/3 '15/3 '16/3 '17/3

従業員数 海外従業員比率

3 31日終了の会計 度

Years ended March 31

期 発行済株式数 千株

Number of outstanding shares at year end (Thousands)

期 自己株式数 千株

Number of treasury stocks at year end (Thousands)

株価

Stock price

始値

Opening price (Yen)

高値

High (Yen)

安値

Low (Yen)

終値

Closing price (Yen)

出来高 千株

Volume (Thousands)

1株当た 配当金 *1

Cash dividends per share (Yen)*1

配当性向 %

Payout ratio (%)

自己株式 得額 百万

Amount of share buybacks (Millions of yen)

み し配当性向 % *2

Deemed payout ratio (%)*2

-16,474 16,475

701 871

154,188 1,201

12.00 13.00

979 1,027 1,256

30.8 154,824 166,241 268,820 149,437 166,273

563 790 787 870 927

9.00

217,699 217,699 217,699 217,699

374 459 709 703

9.00 11.00 10.00

12,277 14,833 16,466

1,337 572

2013/3 2014/3

848

2015/3 2016/3 2017/3

927

407 561 793 791 871

2012/3

217,699 16,475 217,699

28.0

46.6 39.1 21.6 35.3 34.2

1,070 1,565 1,471

-33.9 32.2 37.6 28.3 30.9

-株式情報

Stock Information

◆株式

Stock Data

◆株価

推移

Stock Price Range on the Tokyo Stock Exchange

*1 2014年3 期 1株当 配当金11円 特 配当2円 2016年3 期 1株当 配当金12円 記念配当1円 含 い

*1 The year-end dividend for FY2014 included a special dividend of ￥2.00. The year-end dividend for FY2016 include a commemorative dividend of ¥1.00.

*2 配当性向＝配当総額÷ 連結営業利益× 1－法定実効税率

*2 Deemed payout ratio: Total dividends / (Consolidated operating income x (1 –Statutory effective tax rate))

0 200 400 600 800 1000 1200 1400

0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000

4 6 8 10 12 2 4 6 8 10 12 2 4 6 8 10 12 2 4 6 8 10 12 2

出来高 Volume 株価

Stock price range (Yen)

出来高 千株 Volume (Thousands)