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The balance sheet showed a decrease of 6.3 billion yen in total assets from the end of the previous fiscal year, for a total of 1,225.1 billion yen. The major factor for this decline was the foreign currency exchange loss due to stronger yen.�
Interest-bearing debts were 347.3 billion yen, decrease of 20.3 billion yen from the end of March 2010, due to the refinancing of short-term loans payable into long-term loans payable and redemption of 20 billion yen of straight bonds in June 2010. We plan to reduce debt further to 320 billion yen by the end of the fiscal year ending in March 2011. In addition, our debt-to-equity ratio stood at 0.89 times.
Net assets totaled 392.6 billion yen, up 10.7 billion yen, from the end of the previous fiscal year owing to an increase in retained earnings and decrease in foreign currency translation adjustment.
Our shareholders' equity ratio stood at 31.9%, indicating that we continue to maintain a sound ratio.
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