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Financial Information: Stability Indices

Our financial target is over 50% of Equity Ratio. As of March 31, 2017, our Equity Ratio is 68.3%, which increased by 1.2 percentage point from the previous fiscal year mainly due to an increase in retained earnings and a decrease in liabilities.

Net Debt / Net Total Capital Employed is 0.9% increased by 9.0 percentage point from the previous fiscal year. We steadily prepare for the future investment with maintaining a high degree of stability. Our target of financial leverage level is under 20% of this ratio.

  • Net assets excluding non-controlling interests = Net assets – Non-controlling interests
  • Interest-bearing debt = Short-term loans + Long-term debt
  • Net debt = Interest-bearing debt – Cash and cash equivalents – Time deposits – Certificate of deposits – Public and corporate bonds and other debt securities with determinable value−Long-term time deposits
  • Equity ratio = Net assets excluding non-controlling interests / Total assets
  • Current ratio = Current assets / Current liabilities
  • Fixed ratio = Fixed assets / Net assets excluding non-controlling interests
  • D/E ratio = Interest-bearing debt / Net assets excluding non-controlling interests
  • Interest-bearing debt / Total capital employed = Interest-bearing debt / (Net assets + Interest-bearing debt)
  • Net debt / Net total capital employed = Net debt / (Net assets + Net debt)

↓This table is scrollable horizontally.

¥ million
Years ended March 31 2013 2014 2015 2016 2017
Total assets 3,616,158 4,038,139 4,499,153 4,369,841 4,312,174
Net assets excluding non-controlling interests 2,481,292 2,791,108 3,066,680 2,932,892 2,943,169
Interest-bearing debt 475,468 583,628 677,157 741,567 687,684
Net debt (815,306) (725,329) (472,194) (239,311) 29,566
Equity ratio 68.6% 69.1% 68.2% 67.1% 68.3%
Current ratio 267% 304% 368% 308% 317%
Fixed ratio 101% 104% 103% 115% 114%
D/E ratio 19.2% 20.9% 22.1% 25.3% 23.4%
Interest-bearing debt / Total capital employed 15.1% 16.3% 17.1% 18.9% 17.7%
Net debt / Net total capital employed (43.9%) (31.9%) (16.8%) (8.1%) 0.9%

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