Bell-Park Ratios and Metrics

Market cap in millions JPY. Fiscal year is January - December.

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 12, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	30,651	31,824	32,690	36,654	49,391	44,190
Market Cap Growth	-2.03%	-2.65%	-10.81%	-25.79%	11.77%	58.39%
Enterprise Value	17,743	8,984	10,121	18,847	31,209	26,984
Last Close Price	2504.00	1582.68	1580.30	1727.13	2282.89	1998.92
PE Ratio	11.82	10.02	13.73	14.54	15.07	12.21
PS Ratio	0.24	0.27	0.28	0.36	0.46	0.45
PB Ratio	1.18	0.93	1.02	1.21	1.72	1.66
P/TBV Ratio	1.19	0.93	1.03	1.22	1.75	1.69
P/FCF Ratio	-	9.60	6.68	-	15.15	21.00
P/OCF Ratio	-	9.33	6.35	502.11	13.45	18.22
EV/Sales Ratio	0.14	0.08	0.09	0.18	0.29	0.27
EV/EBITDA Ratio	3.26	1.96	2.58	4.74	6.16	4.84
EV/EBIT Ratio	3.43	2.11	2.87	5.38	6.82	5.32
EV/FCF Ratio	-	2.71	2.07	-	9.57	12.83
Debt / Equity Ratio	0.00	0.00	0.00	-	0	0.19
Debt / EBITDA Ratio	0.01	0.02	0.02	-	0.00	0.90
Debt / FCF Ratio	-	0.02	0.02	-	0.00	2.38
Net Debt / Equity Ratio	-0.50	-0.59	-0.61	-0.58	-0.64	-0.64
Net Debt / EBITDA Ratio	-2.37	-4.39	-4.99	-4.43	-3.62	-3.06
Net Debt / FCF Ratio	-	-6.07	-4.01	111.49	-5.62	-8.09
Asset Turnover	2.71	2.36	2.53	2.36	2.39	2.20
Inventory Turnover	16.04	12.37	11.27	9.98	12.41	12.88
Quick Ratio	1.64	2.16	2.20	2.27	2.15	1.78
Current Ratio	2.05	2.64	2.70	3.01	2.68	2.13
Return on Equity (ROE)	12.42%	9.61%	7.65%	8.53%	11.82%	14.32%
Return on Assets (ROA)	6.91%	5.43%	4.83%	5.03%	6.38%	7.05%
Return on Invested Capital (ROIC)	27.65%	23.06%	19.55%	20.13%	31.97%	39.78%
Return on Capital Employed (ROCE)	19.40%	12.20%	10.80%	11.30%	15.50%	18.50%
Earnings Yield	12.06%	9.98%	7.28%	6.88%	6.64%	8.19%
FCF Yield	-	10.42%	14.96%	-0.43%	6.60%	4.76%
Dividend Yield	4.39%	3.16%	2.72%	2.37%	2.25%	2.83%
Payout Ratio	-	26.35%	33.93%	37.48%	34.61%	25.14%
Buyback Yield / Dilution	9.29%	0.00%	0.00%	0.00%	-	0.00%
Total Shareholder Return	13.57%	3.16%	2.72%	2.37%	2.25%	2.84%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.