Consolidated Financial Results
(Unit:Millions of yen)
  2017/3 2017/12※1 2018/12 2019/12 2020/12
Orders 477,956 413,569 575,576 552,225 511,921
Net sales 476,104 381,993 509,175 522,424 523,727
Operating income 29,995 18,115 32,482 35,298 37,879
Ordinary income 28,464 16,529 31,281 35,571 36,859
Profit (Loss) attributable to owners of parent 20,587 9,531 18,262 23,349 24,473
Consolidated Financial Position
(Unit:Millions of yen)
  2017/3 2017/12※1 2018/12 2019/12 2020/12
Total assets ※2 588,457 612,919 591,592 595,239 621,578
Total net assets 277,509 284,788 286,778 291,827 304,470
Shareholders’ equity ※3 271,356 277,955 279,640 283,651 296,232
Interest-bearing debt 96,531 114,592 79,137 80,986 76,143
Retained earnings 117,883 121,321 135,715 141,675 156,486
Consolidated Cash Flows
(Unit:Millions of yen)
  2017/3 2017/12※1 2018/12 2019/12 2020/12
Cash flows from operating activities 33,816 44,157 34,610 26,720 64,234
Cash flows from investing activities (18,563) (7,906) (15,927) (24,077) (29,071)
Cash flows from financing activities (15,102) 11,296 (46,412) (20,188) (9,628)
Free cash flow 15,252 36,250 18,682 2,643 35,163
Cash and cash equivalents (at end of period) 90,683 139,102 110,556 93,351 120,544
Capital expenditures・ Depreciation and Amortization・ R&D expenses
(Unit:Millions of yen)
  2017/3 2017/12※1 2018/12 2019/12 2020/12
Capital expenditures 22,675 12,386 19,364 34,369 32,295
Depreciation and amortization 13,739 11,923 15,266 15,130 15,963
R&D expenses 8,758 7,218 10,698 11,530 12,514
Per Share Data※4
  2017/3 2017/12※1 2018/12 2019/12 2020/12
Profit (Loss) attributable to owners of parent (yen)※5 213.71 93.84 179.94 241.79 256.85
Total net assets (yen) 2,672.19 2,735.94 2,795.72 2,981.91 3,106.10
Cash dividends (yen) 36.00 45.00 60.00 60.00 90.00
Financial Indicators
  2017/3 2017/12※1 2018/12 2019/12 2020/12
ROIC (%)※6 5.6 2.5 4.9 6.5

6.6

ROE (%)※7 8.0 3.5 6.6 8.3 8.4
Debt-to-equity ratio (times) 0.36 0.41 0.28 0.29 0.26
Operating income on sales ratio (%) 6.3 4.7 6.4 6.8 7.2
Equity ratio (%) 46.1 45.3 47.3 47.7 47.7
Overseas sales ratio (%) 52.7 60.1 55.0 55.3 55.0
Consolidated Number of Employees
(Unit : People)
  2017/3 2017/12※1 2018/12 2019/12 2020/12

Number of Employees

16,317 16,219 16,556 17,080 17,480
※1
Ebara Corporation has changed its fiscal year-end from March 31 to December 31, effective from the fiscal year ended December 31, 2017, following the approval at the Company's 152nd general meeting of shareholders.
For the fiscal year ended December 31, 2017, which is the transition period of the fiscal year change,
the consolidated financial results includes the results for nine months, from April 1, 2017 to December 31, 2017.
The results for twelve months, from January 1, 2017 to December 31, 2017, for the consolidated subsidiaries whose fiscal year ends at December 31 are included as before.
※2
The provisional accounting treatment concerning business combinations implemented in the fiscal year ended March 31, 2016 was finalized in the fiscal year ended March 31, 2017, and the finalized details of the provisional accounting treatment have been reflected in total assets for the fiscal year ended March 31, 2016.
※3
Shareholders’ equity: Net assets excluding subscription rights to shares and non-controlling interests.
※4
Ebara Corporation has conducted a consolidation of common shares at a rate of one share for every five shares with an effective date of October 1, 2016.
※5
Profit (loss) attributable to owners of parent per share is based on the average number of shares outstanding (excluding treasury stock) during the fiscal year. Total net assets per share is calculated using the number of shares outstanding (excluding treasury stock) as of the end of the fiscal years.
※6
ROIC: Profit attributable to owners of parent / (Interest-bearing debt (Average between beginning and end of period) + Shareholders’ equity (Average between beginning and end of period))
※7
ROE: Profit attributable to owners of parent /Shareholders’ equity (Average between beginning and end of period)