Shinhokoku Material Income Statement

Financials in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2016	FY 2015	FY 2014	FY 2013	FY 2012
Period Ending	Dec '16 Dec 31, 2016	Dec '15 Dec 31, 2015	Dec '14 Dec 31, 2014	Dec '13 Dec 31, 2013	Dec '12 Dec 31, 2012
Revenue	5,341	4,775	3,694	2,911	3,106
Revenue Growth (YoY)	11.85%	29.26%	26.90%	-6.28%	-25.77%
Cost of Revenue	3,717	3,625	2,736	2,244	2,502
Gross Profit	1,624	1,150	958	667	604
Selling, General & Admin	567	434	409	415	399
Research & Development	110	105	100	72	67
Other Operating Expenses	31	13	11	12	11
Operating Expenses	737	574	542	522	498
Operating Income	887	576	416	145	106
Interest Expense	-11	-19	-22	-26	-35
Interest & Investment Income	2	3	2	2	2
Other Non Operating Income (Expenses)	11	21	11	22	47
EBT Excluding Unusual Items	889	581	407	143	120
Gain (Loss) on Sale of Investments	-	-	-	-	4
Gain (Loss) on Sale of Assets	6	11	20	15	7
Asset Writedown	16	-	-7	7	-6
Other Unusual Items	-	-	-	-	-1
Pretax Income	911	592	420	165	124
Income Tax Expense	253	3	-10	5	2
Earnings From Continuing Operations	658	589	430	160	122
Net Income	658	589	430	160	122
Net Income to Common	658	589	430	160	122
Net Income Growth	11.71%	36.98%	168.75%	31.15%	-58.08%
Shares Outstanding (Basic)	7	7	7	7	6
Shares Outstanding (Diluted)	7	7	7	7	6
Shares Change (YoY)	-0.00%	-0.00%	-0.01%	3.33%	1.49%
EPS (Basic)	99.38	88.95	64.94	24.16	19.04
EPS (Diluted)	99.38	88.95	64.94	24.16	19.04
EPS Growth	11.72%	36.98%	168.76%	26.93%	-58.69%
Free Cash Flow	640	357	199	37	224
Free Cash Flow Per Share	96.66	53.92	30.05	5.59	34.95
Dividend Per Share	10.000	5.000	1.500	1.500	1.500
Dividend Growth	100.00%	233.33%	-	-	-
Gross Margin	30.41%	24.08%	25.93%	22.91%	19.45%
Operating Margin	16.61%	12.06%	11.26%	4.98%	3.41%
Profit Margin	12.32%	12.34%	11.64%	5.50%	3.93%
Free Cash Flow Margin	11.98%	7.48%	5.39%	1.27%	7.21%
EBITDA	1,046	701	540	277	250
EBITDA Margin	19.58%	14.68%	14.62%	9.52%	8.05%
D&A For EBITDA	159	125	124	132	144
EBIT	887	576	416	145	106
EBIT Margin	16.61%	12.06%	11.26%	4.98%	3.41%
Effective Tax Rate	27.77%	0.51%	-	3.03%	1.61%

Updated Mar 30, 2017. Source: S&P Global Market Intelligence. Standard template. Financial Sources.