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Performance Highlights

Performance Highlights

Net Sales (Consolidated)

Operating Income

(Unit: millions of yen)

'03/2022 '03/2023 '03/2024 '03/2025 '03/2026
Net sales 85,703 87,771 80,192 72,918 72,049
Operating income 6,696 5,045 3,255 316 113
Operating profit on sales 7.8% 5.7% 4.1% 0.4% 0.2%

Sales/Operating Income by Segment

Sales/Operating Income by Segment

'03/2026(Unit: millions of yen)

Profit/Loss by Segment Musical instrument education business Material processing business Other business
Net sales 56,492 10,343 5,213
Operating income -852 756 271
Operating income ratio -1.5% 7.3% 5.2%
Musical instrument education business
Pianos, digital instruments, wind, string and percussion instruments, musical instrument accessories, musical instrument toys, musical instrument tuning and repairs
Music and physical education classes, teaching material sales, musical score, music education software, pig iron casting production
Material processing business
Metal material processing for electronic and electrical components, material processing for automotive components, soundproofed rooms, acoustic components
Other business
Sales and maintenance of IT equipment, sales of computer software
Finance-related business, insurance agency business, others

Net Sales by Region (Consolidated)

Net Sales by Region (Consolidated)

(Unit: millions of yen)

'03/2022 '03/2023 '03/2024 '03/2025 '03/2026 Overseas ratio By overseas region
Japan 48,260 47,160 45,893 45,126 46,176 64.1%
Overseas 37,441 40,610 34,299 27,792 25,873 35.9%
North America 7,590 10,826 9,425 6,907 6,968 9.7% 26.9%
Europe 10,046 10,519 9,555 10,652 10,121 14.0% 39.1%
China 16,009 14,389 10,852 6,235 4,981 6.9% 19.3%
Others 3,796 4,875 4,466 3,995 3,801 5.3% 14.7%
Total 85,703 87,771 80,192 72,918 72,049

Performance Highlights（Consolidated）

(Unit: millions of yen)

'03/2022 '03/2023 '03/2024 '03/2025 '03/2026
Net sales 85,703 87,771 80,192 72,918 72,049
Cost of sales 62,220 64,956 59,481 54,621 53,307
Selling expenses & general management expenses 16,786 17,769 17,456 17,980 18,629
Operating income 6,696 5,045 3,255 316 113
Non-operating income 800 818 1,128 553 1,196
Non-operating expenses 191 225 181 394 356
Ordinary income 7,304 5,639 4,201 474 952
Extraordinary income 32 0 49 8 730
Extraordinary loss 23 27 29 134 68
Pretax net income 7,314 5,612 4,221 349 1,614
Corporation tax, inhabitant tax and enterprise tax 2,241 1,841 1,497 501 600
Income tax adjustment -13 81 -63 -560 -127
Net income attributable to parent owners 5,046 3,672 2,782 405 1,141
Net income per share (yen) 587.17 427.33 323.72 47.13 132.73
Net income per share after adjustment for potential shares (yen) - - - - -

'03/2022 '03/2023 '03/2024 '03/2025 '03/2026
Total assets 68,391 70,818 73,538 73,991 78,879
Net assets 33,559 38,461 43,141 44,541 46,745
Net assets per share (yen) 3,884.27 4,451.73 4,993.71 5,179.62 5,434.02
Capital adequacy ratio 48.8% 54.0% 58.4% 60.2% 59.3%
Return on equity 16.5% 10.3% 6.9% 0.9% 2.5%

'03/2022 '03/2023 '03/2024 '03/2025 '03/2026
Cash flow from operating activities 5,082 -613 1,442 -1,698 -761
Cash flow from investment activities -877 -1,364 -943 -2,366 -3,491
Cash flow from financial activities -1,800 -2,267 -1,844 -957 1,548
Cash & cash equivalents at end of year 21,489 17,975 17,064 12,466 10,029

'03/2022 '03/2023 '03/2024 '03/2025 '03/2026
No. of employees 2,969 2,977 2,895 2,810 2,917