HORAI Ratios and Metrics

Market cap in millions JPY. Fiscal year is October - September.

Millions JPY. Fiscal year is Oct - Sep.

Fiscal Year	Current	FY 2010	FY 2009	FY 2008	FY 2007	FY 2006
Period Ending	Apr '26 Apr 2, 2026	Sep '10 Sep 30, 2010	Sep '09 Sep 30, 2009	Sep '08 Sep 30, 2008	Sep '07 Sep 30, 2007	Sep '06 Sep 30, 2006
Market Capitalization	8,628	2,238	2,799	3,639	4,972	9,866
Market Cap Growth	25.94%	-20.02%	-23.10%	-26.80%	-49.60%	75.67%
Enterprise Value	-	1,519	2,092	2,554	3,455	5,733
Last Close Price	2060.00	389.91	473.13	601.09	804.63	786.44
PE Ratio	19.43	4.45	5.20	5.39	8.19	-
PS Ratio	1.56	0.40	0.48	0.63	0.86	1.65
PB Ratio	1.23	0.32	0.43	0.60	0.89	1.99
P/TBV Ratio	1.25	0.33	0.44	0.63	0.97	2.22
P/FCF Ratio	27.28	7.78	14.91	7.52	4.40	12.89
P/OCF Ratio	14.02	3.96	6.91	4.93	3.80	7.86
EV/Sales Ratio	-	0.27	0.36	0.44	0.60	0.96
EV/EBITDA Ratio	-	1.64	2.19	2.41	2.84	4.80
EV/EBIT Ratio	-	3.34	4.56	4.65	5.05	8.31
EV/FCF Ratio	-	5.28	11.14	5.28	3.06	7.49
Debt / Equity Ratio	0.26	0.27	0.30	0.34	0.39	0.45
Debt / EBITDA Ratio	2.02	2.00	2.04	1.94	1.77	1.88
Debt / FCF Ratio	5.85	6.43	10.39	4.24	1.90	2.94
Net Debt / Equity Ratio	-0.14	-0.14	-0.13	-0.21	-0.27	-0.23
Net Debt / EBITDA Ratio	-1.07	-1.03	-0.91	-1.22	-1.26	-0.98
Net Debt / FCF Ratio	-3.10	-3.34	-4.65	-2.67	-1.36	-1.53
Asset Turnover	0.23	0.23	0.23	0.22	0.22	0.20
Inventory Turnover	24.51	24.46	26.16	26.99	26.56	21.20
Quick Ratio	3.77	2.98	2.81	2.39	2.42	3.90
Current Ratio	4.25	3.52	3.34	2.97	2.76	4.63
Return on Equity (ROE)	6.54%	7.42%	8.50%	11.56%	11.51%	-67.17%
Return on Assets (ROA)	1.14%	1.16%	1.14%	1.33%	1.63%	1.46%
Return on Invested Capital (ROIC)	4.56%	4.89%	5.56%	9.05%	11.99%	11.50%
Return on Capital Employed (ROCE)	1.90%	1.90%	1.90%	2.30%	2.80%	2.70%
Earnings Yield	5.16%	22.48%	19.24%	18.56%	12.21%	-51.07%
FCF Yield	3.67%	12.85%	6.71%	13.29%	22.72%	7.76%
Dividend Yield	1.17%	4.28%	3.52%	2.77%	2.07%	-
Payout Ratio	15.72%	13.81%	12.85%	10.29%	-	-
Buyback Yield / Dilution	0.02%	0.02%	0.04%	0.05%	0.04%	0.04%
Total Shareholder Return	1.19%	4.29%	3.56%	2.82%	2.11%	0.04%

Updated Feb 10, 2011. Source: S&P Global Market Intelligence. Standard template. Financial Sources.