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Financial Information

  • Financial Highlights
  • Consolidated Statements of Income
  • Consolidated Balance Sheets
  • Consolidated Statements of Cash Flows

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Net Sales and Operating Income Margin
(03/2015 to 03/2019)

Net Sales and Ordinary Income Margin(03/2014 to 03/2018)

Total Equity and Return on Equity
(03/2015 to 03/2019)

Total Equity and Return on Equity(03/2014 to 03/2018)

Net Income and Total Annual Dividend Payments(03/2015 to 03/2019)

Net Income and Total Annual Dividend Payments(03/2014 to 03/2018)
03/2015 03/2016 03/2017 03/2018 03/2019
For the year/Millions of Yen Net sales 167,891 214,101 256,824 250,394 271,048
Operating income 16,426 26,018 31,295 38,176 24,531
Ordinary income 16,984 25,322 31,128 36,124 28,312
Profit attributable to owners of parent 9,831 19,884 20,039 25,821 18,463
03/2015 03/2016 03/2017 03/2018 03/2019
At year-end/Millions of Yen Total Assets 211,938 232,731 243,859 259,713 277,856
Net Assets 155,314 168,783 181,904 193,359 203,230
03/2015 03/2016 03/2017 03/2018 03/2019
Per Share of Common Stock/Yen Earnings 84.34 163.04 164.20 215.33 154.93
Net Assets 1,267.24 1,376.93 1,485.56 1,617,58 1,699.34
Dividends per share (annual) 30.00 48.00 50.00 65.00 47.00
03/2015 03/2016 03/2017 03/2018 03/2019
Key Ratios Operating income margin 9.8% 12.2% 12.2% 15.2% 9.1%
Ordinary income margin 10.1% 11.8% 12.1% 14.4% 10.4%
Return on equity 7.0% 12.3% 11.5% 13.8% 9.3%
Equity ratio 72.9% 72.2% 74.4% 74.2% 72.9%
Consolidated dividend payout ratio 36.0% 29.4% 30.5% 30.2% 30.3%

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(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Cash flows from
operating activities		 Profit before income taxes 15,310 21,436 25,846 35,927 23,028
Depreciation and amortization 6,934 6,317 6,270 5,859 6,801
Impairment loss 640 1,961 862 40 368
Increase (decrease) in allowance for doubtful accounts (297) (169) 169 (251) 44
Increase (decrease) in allowance for doubtful accounts (92) 1,138 (224) 1,096 (36)
Increase (decrease) in provision for sales returns (298) (1,332) 2,905 (1,979) 5,032
Increase (decrease) in provision for directors' retirement benefits (27) 10 (63) － (35)
Increase (decrease) in provision for game arcade closings 208 (328) (53) (48) (50)
Decrease (increase) in net defined benefit asset － － 7 (64) (44)
Increase (decrease) in net defined benefit liability (715) (476) 291 205 96
Interest and dividends income (148) (95) (84) (121) (167)
Interest expenses 68 67 52 84 107
Foreign exchange losses (gains) (2,127) 1,749 (964) 2,940 (4,072)
Gain on sales of investment securities (82) (1) － (351) (0)
Loss on sales of shares of subsidiaries and associates － － － 371 －
Loss on disposal of property and equipment 258 194 210 131 198
Gain on sale of property and equipment (1,394) (18) (4) (9) (15)
Loss on sale of property and equipment 741 36 － 18 －
Loss on valuation of shares of subsidiaries and associates 41 1,702 0 － 680
Decrease (increase) in notes and accounts receivable 1,973 (910) (4,882) 1,128 (10,649)
Decrease (increase) in inventories (12,799) (7,630) 4,257 (11,092) (6,860)
Increase (decrease) in notes and accounts payable-trade (2) 2,735 3,283 523 7,385
Decrease (increase) in other current assets 3,360 (552) 410 1,994 (2,307)
Decrease (increase) in other non-current assets (607) (527) (187) (531) (659)
Increase (decrease) in other current liabilities 1,634 320 881 (3,648) 2,079
Other,net (335) 210 (2,215) 874 1,065
Subtotal 12,241 25,838 36,769 33,098 21,988
Interest and dividends income received 161 95 89 121 167
Interest expenses paid (78) (65) (54) (84) (106)
Income taxes paid (4,530) (6,213) (11,311) (5,213) (12,683)
Income taxes refund 340 530 45 2,717 2,768
Net cash provided by operating activities 8,132 20,184 25,537 30,638 12,135

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Cash flows from investing activities Payments into time deposits (2,765) (1,671) (4,461) (4,539) (3,993)
Proceeds from withdrawal of time deposits 3,252 1,153 4,113 4,157 3,976
Purchases of property and equipment (4,767) (4,053) (5,785) (6,378) (8,450)
Proceeds from sale of property and equipment 5,884 200 6 9 15
Purchase of intangible assets (875) (461) (851) (858) (1,190)
Payments for acquiring investment securities － － － － (1,074)
Proceeds from sale of investment securities 112 1 － 642 0
Purchase of investments in subsidiaries (1,872) (330) (100) (210) (380)
Proceeds from the liquidation of subsidiaries and associates － － 69 5 8
Payments for acquiring shares in subsidiaries and affiliated companies － － － － -294
Payments for acquiring bonds in subsidiaries and affiliated companies － － － － (697)
Payments for guarantee deposits (1,007) (398) (324) (1,204) (760)
Proceeds from collection of guarantee deposits 312 992 223 431 208
Other,net (150) (206) (54) (247) (244)
Net cash used in investing activities (1,876) (4,773) (7,164) (8,191) (12,875)

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Cash flows from financing activities Net increase (decrease) in short-term loans payable － 3,428 － － －
Redemption of bonds (18,462) － － － －
Proceeds from issuances of new stocks 74 121 124 64 106
Purchase of treasury stock (6) (11) (8) (9,262) (8)
Proceeds from exercise of share options － － － － 5
Cash dividends paid (3,450) (3,654) (5,849) (6,068) (7,735)
Other,net (261) (24) (74) (23) (23)
Net cash used in financing activities (22,105) (141) (5,807) (15,290) (7,656)

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Effect of exchange rate changes on cash and cash equivalents 5,572 (3,041) (534) (196) 1,221
Net increase (decrease) in cash and cash equivalents (10,277) 12,228 12,030 6,960 (7,173)
Cash and cash equivalents at beginning of the year 113,507 103,147 115,375 127,395 134,355
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation (82) － (11) － －
Cash and cash equivalents at end of the year 103,147 115,375 127,395 134,355 127,181

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(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Net sales 167,891 214,101 256,824 250,394 271,048
Cost of sales 94,794 115,316 141,123 129,519 146,820
Gross profit 73,096 98,784 115,701 120,874 124,228
Reversal of provision for sales returns 4,877 4,867 3,227 6,118 4,152
Provision for sales returns 4,579 3,534 6,014 4,139 9,185
Net gross profit 73,394 100,116 112,914 122,854 119,195

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Selling, general and administrative expenses Packaging freight charge 2,014 1,751 1,726 1,874 2,062
Advertising expense 10,386 20,270 25,541 22,585 29,460
Sales promotion expense 66 66 74 86 120
Allowance for doubtful accounts 69 54 12 － －
Compensation for directors 435 565 557 773 470
Salaries 14,207 14,465 14,618 15,242 17,396
Provisions for bonuses 1,936 2,916 2,492 3,740 3,433
Net periodic pension costs 323 539 678 534 692
Provisions for directors' retirement benefits 11 10 － － －
Welfare expense 1,838 2,092 2,161 2,522 2,642
Rental expense 1,739 2,118 2,100 2,306 2,699
Commission fee 13,734 18,996 21,554 23,539 24,664
Depreciation and amortization 2,460 2,476 2,272 2,495 2,410
Other 7,742 7,772 7,825 8,976 8,610
Total Selling, general and administrative expenses 56,967 74,097 81,618 84,677 94,663

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Operating income 16,426 26,018 31,295 38,176 24,531

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Non-operating income Interest income 139 85 75 107 167
Dividends received 9 9 9 14 0
Foreign exchange gain 484 － － － 3,459
Rental income 20 16 16 35 72
Reversal of allowance for doubtful accounts － 213 2 161 8
Subsidy income 17 495 33 126 7
Gain on forgiveness of payable for group tax － － 62 31 37
Miscellaneous income 219 158 93 281 246
Total non-operating income 890 980 293 757 3,999

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Non-operating expenses Interest expenses 68 67 52 84 107
Commission fee 74 14 6 10 5
Loss on investments in securities － － － － 40
Office transfer related expenses 173 44 31 152 65
Foreign exchange loss － 1,545 358 2,477 －
Miscellaneous loss 15 4 11 83 0
Total non-operating expenses 332 1,676 459 2,809 219

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Ordinary income 16,984 25,322 31,128 36,124 28,312

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Extraordinary gain Gain on sale of property and equipment 1,394 18 4 9 15
Gain on sale of investment securities 82 1 － 351 0
Gain on reversal of subscription rights to shares 44 19 20 2 －
Gain on disposition of foreign currency translation adjustment － － 105 － －
Gain on liquidation of subsidiaries － － 69 5 8
Gain on reversal of debts － － 82 － －
Other － － 20 － －
Total extraordinary gain 1,520 40 302 368 23

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Extraordinary loss Loss on sale of property and equipment 741 36 － 18 －
Loss on disposal of property and equipment 258 194 210 131 198
Impairment loss 640 1,961 437 40 368
Loss on valuation of shares of subsidiaries and associates 41 1,702 0 － 680
Loss on sales of shares of subsidiaries and associates － － － 371 －
Loss on liquidation of subsidiaries and associates 313 － 4,898 － －
Provision for game arcade closings 402 15 － － －
Loss on evaluation of content － － － － 3,638
Other 664 14 37 4 422
Total extraordinary loss 3,062 3,925 5,584 565 5,307

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Income before dividends distribution from silent partnership, income taxes (tokumei-kumiai) 15,442 － － － －
Dividends distribution from silent partnership (tokumei-kumiai) 132 － － － －
Profit (Loss) before income taxes 15,310 21,436 25,846 35,927 23,028

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Income taxes Income taxes-current 5,136 6,690 5,331 9,216 2,968
Income taxes-deferred 353 (5,146) 472 878 1,590
Total income taxes 5,489 1,544 5,804 10,094 4,559

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Income before minority interests 9,820 － － － －
Minority interests income (loss) (11) － － － －
Profit 9,831 19,892 20,042 25,832 18,468
Profit attributable to non-controlling interests － 8 3 11 4
Profit (loss) attributable to owners of parent － 19,884 20,039 25,821 18,463

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Assets

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Current assets Cash and deposits 103,631 117,306 129,364 136,785 129,468
Notes and accounts receivable 20,973 21,487 26,053 24,383 35,382
Merchandises and finished goods 1,881 2,428 2,820 3,233 4,484
Work in progress 4 109 11 3 5
Raw materials and supplies 314 233 302 253 330
Content production account 35,113 41,419 34,548 44,167 50,711
Deferred tax assets 4,818 6,561 7,029 － －
Other 4,201 5,275 9,222 7,486 9,770
Allowance for doubtful accounts (122) (143) (314) (212) (265)
Total current assets 170,815 194,679 209,038 216,100 229,888

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Non-current assets Property and equipment
Buildings and structures 13,212 13,779 14,777 15,657 17,179
Accumulated depreciation (8,611) (8,654) (9,365) (9,993) (10,663)
Buildings and structures (net) 4,601 5,124 5,412 5,663 6,515
Tools and fixtures 13,074 13,312 13,694 14,021 14,759
Accumulated depreciation (9,699) (10,047) (10,626) (9,855) (10,065)
Tools and fixtures (net) 3,375 3,265 3,067 4,165 4,693
Amusement equipment 16,559 15,457 16,247 16,910 17,435
Accumulated depreciation (15,105) (14,012) (14,455) (14,588) (14,790)
Amusement equipment (net) 1,454 1,445 1,792 2,322 2,645
Other 127 101 181 177 184
Accumulated depreciation (83) (47) (79) (115) (115)
Other (net) 43 54 101 62 68
Land 4,008 3,798 3,798 3,795 3,782
Construction in progress 136 61 62 50 183
Total property and equipment 13,620 13,748 14,234 16,060 17,889
Intangible assets
Other 10,192 6,447 4,735 4,559 5,105
Total intangible assets 10,192 6,447 4,735 4,559 5,105
Investments and other assets
Investment securities 1,172 749 780 154 1,226
Guarantee deposits 10,167 9,173 9,204 9,879 10,373
Net defined benefit asset － － 120 155 93
Deferred tax assets 1,198 4,972 2,572 8,902 7,922
Other 5,192 3,185 3,394 3,965 5,418
Allowance for doubtful accounts (420) (224) (222) (63) (61)
Total investments and other assets 17,309 17,856 15,850 22,993 24,974
Total non-current assets 41,122 38,052 34,820 43,612 47,968

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Total assets 211,938 232,731 243,859 259,713 277,856

Liabilities and Net Assets

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Current liabilities Notes and accounts payable 11,820 14,671 14,220 14,848 22,050
Short-term loans 7,122 9,722 8,437 8,931 8,685
Accrued income taxes 3,974 5,726 1,665 9,162 1,694
Provision for bonuses 1,696 2,672 2,358 3,246 3,273
Provision for sales returns 4,865 3,334 6,197 3,985 9,178
Provision for game arcade closings 379 75 64 58 49
Asset retirement obligations 9 5 17 － 5
Other 20,062 19,529 22,482 18,610 20,968
Total current liabilities 49,931 55,737 55,445 58,842 65,906

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Non-current liabilities Provision for directors' retirement benefits 151 162 88 88 52
Provision for game arcade closings 423 127 83 41 －
Net defined benefit liabilities 2,200 2,747 2,546 2,676 2,893
Deferred tax liabilities 2,371 2,153 573 896 1,383
Asset retirement obligations 953 2,355 2,450 2,812 3,132
Other 591 665 767 994 1,257
Total non-current liabilities 6,692 8,210 6,510 7,510 8,719

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Total liabilities 56,623 63,948 61,955 66,353 74,626

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Shareholders' equity Common stock 23,680 23,753 23,828 23,868 24,039
Capital surplus 52,920 52,993 53,067 53,107 53,281
Retained earnings 79,355 95,581 109,764 129,513 140,235
Treasury stock (876) (888) (897) (10,159) (10,162)
Total shareholders' equity 155,079 171,439 185,763 196,330 207,394

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Accumulated other comprehensive income Unrealized loss on revaluation of other investment securities 618 341 364 89 116
Foreign currency translation adjustments (1,292) (3,207) (4,640) (3,674) (4,651)
Remeasurements of defined benefit plans 99 (607) (165) (132) (285)
Total accumulated other comprehensive income (574) (3,474) (4,440) (3,718) (4,820)

(Millions of yen)

03/2015 03/2016 03/2017 03/2018 03/2019
Subscription rights to shares 327 374 453 603 517
(Minority interests) 482 － － － －
Non-controlling interests － 443 128 144 139
Total net assets 155,314 168,783 181,904 193,359 203,230
Total liabilities and net assets 211,938 232,731 243,859 259,713 277,856