Structural Reform Focused Primarily on Reducing the Cost Ratio

「Productivity improvements and a lower SG&A ratio through the structural reforms undertaken since the previous fiscal year」

「Liabilities were ¥180.869 million, down ¥22.888 million from the previous fiscal year. The main factors behind the change included decreases of ¥9.382 million in accounts payable due to the review of outsourced work, ¥1.405 million in accrued income taxes due to tax payments, and ¥21.764 million in the provision for bonuses due to bonus payments.」

「Liabilities were ¥200.974 million, down ¥2.784 million from the previous fiscal year. The main factors behind the change included a ¥10.481 million decrease in accounts payable due in part to the continued review of outsourced work from the previous fiscal year.」

「The main factors behind the changes in current assets were an increase of ¥54.446 million in cash and deposits from the collection of trade receivables, while trade receivables and contract assets decreased by ¥111.150 million as a result of the same collections.」

「Cost of sales was ¥524.374 million, or 78.2% of the previous fiscal year, as the licensing business became more profitable, reducing the cost ratio and increasing the gross margin. Selling, general and administrative expenses were ¥485.700 million, or 90.7% of the previous fiscal year, as efficiency improvements, including reductions in infrastructure and other outsourcing costs, offset the continuation of active research and development spending at the previous year's level.」

「Cost of sales was ¥670.935 million, or 83.5% of the previous fiscal year, due to progress in the high-margin data licensing business and more efficient development and operations in existing businesses. Selling, general and administrative expenses were ¥535.747 million, or 94.5% of the previous fiscal year, due in part to reductions in outsourcing costs through insourcing.」

「Cost of sales was ¥514.119 million, or 86.4% of the same period of the previous year, as the licensing business expanded and development and operations in existing businesses became more efficient. Selling, general and administrative expenses were ¥404.933 million, or 93.6% of the same period of the previous year, due in part to reductions in outsourcing costs through insourcing.」

「Selling, general and administrative expenses were ¥271.135 million, or 94.3% of the same period of the previous year, due in part to reductions in outsourcing costs through insourcing.」

「Cost of sales was ¥803.253 million, or 80.8% of the previous fiscal year, due to progress in the high-margin data licensing business and more efficient development and operations in existing businesses.」

「Cost of sales was ¥422.653 million, or 88.1% of the same period of the previous year, as the licensing business expanded and development and operations in existing businesses became more efficient.」

「Cost of sales was ¥994.554 million, or 86.0% of the previous fiscal year, due to progress in the high-margin data licensing business and more efficient development and operations in existing businesses.」

「Cost of sales declined 18.6% year on year to ¥725.426 million, as the licensing business expanded and the development and operation of existing businesses became more efficient.」

「Cost of sales declined 22.0% year on year to ¥479.728 million, as the licensing business expanded and the development and operation of existing businesses became more efficient.」

「Cost of sales declined through greater efficiency in the development and operation of existing businesses, to ¥229,787 thousand, a 19.4% decrease from the same period of the previous year.」

「Cost of sales declined through greater efficiency in the development and operation of existing businesses, to ¥891,489 thousand, or 83.8% of the amount in the same period of the previous year.」

「Cost reductions progressed through greater efficiency in the development and operation of existing businesses, bringing cost of sales to ¥615,026 thousand. Selling, general and administrative expenses were ¥261,051 thousand, despite increased research and development activity, as structural reforms implemented from the fiscal year ended March 2015 progressed.」

「However, from during the fiscal year ended March 2015, the Company pursued structural reforms focused mainly on reducing the cost ratio and achieved the target level.」

「However, from during the previous fiscal year, the Company pursued structural reforms focused mainly on reducing the cost ratio and achieved the target level.」