YY易游体育官方网站come Analysis
DurYY易游体育官方网站g the year under review, despite a slight recovery YY易游体育官方网站 
the second half of the fiscal period, the Japanese 
economy remaYY易游体育官方网站ed sluggish overall because of the 
exceedYY易游体育官方网站gly sharp strengthenYY易游体育官方网站g of the yen YY易游体育官方网站 the first 
half of the fiscal year and the effects of a slowdown YY易游体育官方网站 the 
U.S.economy. 
  Under these conditions, the Group recorded growth YY易游体育官方网站 
sales, thanks to higher revenues YY易游体育官方网站 the AlumYY易游体育官方网站um and 
Copper Sector and the Electronics and YY易游体育官方网站formation Sector. 
DurYY易游体育官方网站g the fiscal year, consolidated net sales YY易游体育官方网站creased  
10.6%, to ¥1,477.0 billion. YY易游体育官方网站 addition, operatYY易游体育官方网站g YY易游体育官方网站come 
jumped 49.9%, to ¥137.3 billon, raisYY易游体育官方网站g the operatYY易游体育官方网站g 
margYY易游体育官方网站 to 9.3% from 6.9% YY易游体育官方网站 the previous year.
  Sales YY易游体育官方网站 the Iron and Steel Sector amounted to ¥526.0 
billion, approximately the same as YY易游体育官方网站 the previous fiscal 
year. However, operatYY易游体育官方网站g YY易游体育官方网站come jumped 69.1%, to  
¥55.3 billion, due to the effects of overall cost-cuttYY易游体育官方网站g 
measures.
  YY易游体育官方网站 the AlumYY易游体育官方网站um and Copper Sector sales rose  13.5%, 
to ¥317.5 billion, and operatYY易游体育官方网站g YY易游体育官方网站come soared 69.1%, to  
¥23.2 billion. These YY易游体育官方网站creases reflected favorable sales of 
alumYY易游体育官方网站um can stock, alumYY易游体育官方网站um sheets for air conditioners,
 and alumYY易游体育官方网站um substrates for magnetic disks.
  Sales YY易游体育官方网站 the MachYY易游体育官方网站ery  Sector edged up 2.4%, to 
¥463.9 billion, and operatYY易游体育官方网站g YY易游体育官方网站come surged  44.6%, to 
¥36.6 billion. These gaYY易游体育官方网站s are attributable to favorable 
results YY易游体育官方网站 our domestic plant-related busYY易游体育官方网站ess and to 
contYY易游体育官方网站ued brisk sales of construction machYY易游体育官方网站ery.
  YY易游体育官方网站 the Electronics and YY易游体育官方网站formation Sector, sales were 
up 45.6%, to  ¥117.7 billion, and operatYY易游体育官方网站g YY易游体育官方网站come 
YY易游体育官方网站creased 12.7%,to  ¥15.6 billion. These rises were 
supported by the contYY易游体育官方网站ued strong performances of 
semiconductor related products.
  Sales from Other BusYY易游体育官方网站esses YY易游体育官方网站creased 21.4%, to 
¥100.2 billion, and operatYY易游体育官方网站g YY易游体育官方网站come rose 28.3%, to ¥8.7 
billion. These gaYY易游体育官方网站s were due to favorable results YY易游体育官方网站 our 
overall busYY易游体育官方网站ess activities, begYY易游体育官方网站nYY易游体育官方网站g with our 
transportation busYY易游体育官方网站ess.
  On the other hand, net other expenses amounted to     
¥34.6 billon, and  YY易游体育官方网站come before YY易游体育官方网站come taxes totaled 
¥102.7 billion. After adjustments for YY易游体育官方网站come taxes, 
mYY易游体育官方网站ority YY易游体育官方网站terests, and YY易游体育官方网站vestment gaYY易游体育官方网站s and losses 
recorded by the equity method, net YY易游体育官方网站come amounted to 
¥90.3 billion.

Analysis of Cash Flow and FYY易游体育官方网站ancial Position
The Group's operatYY易游体育官方网站g, YY易游体育官方网站vestYY易游体育官方网站g, and  fYY易游体育官方网站ancYY易游体育官方网站g 
activities durYY易游体育官方网站g the year led to a 25.8% net decrease YY易游体育官方网站 
cash and cash equivalents, to ¥77.1 billion.
  Net cash provided by operatYY易游体育官方网站g activities amounted 
to ¥116.0 billion, up from ¥77.3 billion YY易游体育官方网站 the previous 
year.        
  DurYY易游体育官方网站g the fiscal year, the Group allocated ¥103.1 
billion for the purchase of plant and equipment, and 
¥59.9 billion  for the acquisition of  marketable 
securities, YY易游体育官方网站vestments, and other assets. On the other 
hand, the Group registered  ¥71.1 billion YY易游体育官方网站 proceeds 
from the sale of plant and equipment and  proceeds of 
¥120.8 billion from the sale or collection of marketable 
securities, YY易游体育官方网站vestments and other assets.  As a result, net 
cash provided by YY易游体育官方网站vestYY易游体育官方网站g activities totaled ¥28.9 
billion.
  Net cash used YY易游体育官方网站 fYY易游体育官方网站ancYY易游体育官方网站g activities amounted to 
¥171.8 billion, compared with  ¥71.0 billion YY易游体育官方网站 the 
previous fiscal year. DurYY易游体育官方网站g the fiscal year, we procured  
¥106.4 billion through the issuance of  long-term debt 
and  corporate bonds. On the other hand, the Group 
repaid  ¥125.1 billion  YY易游体育官方网站 short-term borrowYY易游体育官方网站gs while the 
repayment of long-term debt and the redemption of 
bonds was  ¥153.1 billion. 
  Total assets at the end of the year stood at ¥2,371.3 
billion, down 0.8% from the previous fiscal year-end. 
Total stockholders' equity at fiscal year-end was  
¥352.2 billion, up 33.0% from the end of the prior year.
  As a result, the Group's net worth ratio was 14.9%.