In the fiscal year ended March 31, 2011, return on equity fell from its level at 8.1% in the previous fiscal year to7.6%. The drop came as common stock increased, in spite of net income increased.
- Total assets turnover =
Net sales / Average of total assets at the beginning and end of the fiscal year - Net assets turnover =
Net sales / Average of net assets at the beginning and end of the fiscal year - ROE =
Net income / Average of net assets excluding Minority interests at the beginning and end of the fiscal year - Net ROACE =
(Net income + Minority interests + (Interest expense – Interest income) x (1 – Tax rate)) / (Average of sum of Net assets and *Net debt at the beginning and end of the fiscal year) - ROA =
Net Income / Average of total assets at the beginning and end of the fiscal year
*Net debt = **Interest-bearing debt – Cash and deposits – Public and corporate bonds and other debt securities (with determinablevalue) – MMF, Short-term bonds with repurchase agreements and Certificate of deposit)
**Interest-bearing debt = Short-term borrowings + Long-term debt
| Years ended March 31 | 2007 | 2008 | 2009 | 2010 | 2011 |
|---|---|---|---|---|---|
| Total assets turnover (Times) | 0.64 | 0.70 | 0.60 | 0.44 | 0.40 |
| Net assets turnover (Times) | 0.99 | 1.04 | 0.83 | 0.59 | 0.53 |
| Return on equity (ROE) | 17.7% | 15.8% | 11.9% | 8.1% | 7.6% |
| Net ROACE (Return on Average Capital Employed) | 20.4% | 21.4% | 14.6% | 10.5% | 10.8% |
| Return on assets (ROA) | 10.9% | 10.1% | 8.1% | 5.7% | 5.5% |
![Earnings Highlights[INPEX CORPORATION until Mar. 2006]](../img/menu05_11.gif){kind=small}
![Earnings Highlights[Teikoku Oil until Mar. 2006]](../img/menu05_12.gif){kind=small}
