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Consolidated Profit and Earnings

(Millions of yen)
(For the years ended March 31) 2007 2008 2009 2010 2011
Net Sales 407,370 430,793 416,358 387,364 373,209
Cost of Sales 375,359 393,399 378,951 354,437 343,696
Gross Profit 32,011 37,394 37,407 32,927 29,512
Selling, General and Administrative Expenses 11,280 11,584 12,061 11,198 10,765
Depreciation 5,619 6,706 10,334 10,760 11,206
Operating Income 20,731 25,810 25,346 21,728 18,747
Non-operating profit 1,806 2,020 2,068 1,591 1,810
Non-operating expense 2,302 2,916 2,992 3,200 2,986
Recurring Income 20,235 24,913 24,422 20,119 17,572
Extraordinary Gains 330 - - 340 -
Extraordinary Losses 294 758 2,157 - 2,139
Income before Income Taxes 20,271 24,155 22,264 20,460 15,432
Net Income 10,600 14,473 12,474 11,788 8,203
Operating Cash Flows 19,769 15,645 18,703 21,044 30,151
Investment Cash Flows △ 12,640 △ 9,571 △ 16,666 △ 16,842 △ 12,306
Financial Cash Flows △ 2,331 △ 13,973 △ 1,724 △ 8,152 △ 16,408
Cash and Cash Equivalents at End of Period 29,377 21,907 20,047 16,861 17,932
Free Cash Flows 7,129 6,074 2,037 4,202 17,845