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The Company concentrated its efforts on promoting the sale of various products, focusing on “AG301”, a Graphics LSI product for larger LCDs installed in amusement devices, and “AG333”, an integrated LSI product that fulfills multiple functions including graphics-rendering, sound-generating and LED driver functions. As for Graphics LSI products targeted at the amusement device market, which are the Company’s mainstay products, the migration from “AG301” (which was the Company’s core products in the previous fiscal year) to “AG333” (high value-added LSI with integrated functions) has been progressing steadily. However, the sales volume of the Company’s Graphics LSI products decreased by about 1,200,000 units from the previous fiscal year to 1,420,000 units due to such factors as the re-use of amusement device components including the Company’s products being prevalent on a full scale, on top of the tough market conditions. The sales volume of Sound LSI products targeted at the amusement device market declined year-on-year due to the impact of sales of products with integrated functions and the demand trends among customers, while the sales volume of other products targeted at the amusement device market fell year-on-year invariably due to the impact of customers’ demand trends. In contrast, sales of Graphics LSI products targeted at the embedded system marke other than the amusement device market exceeded the level in the previous fiscal year, due in part to the completion of the inventory adjustment cycle for various embedded systems, especially industrial equipment, on the back of the increase in exports to emerging countries, etc.As a result, for fiscal 2010, the Company recorded net sales of 8,199 million yen (down 47.1% year-on-year). |
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Gross profit decreased by 49.8% compared to the previous fiscal year to 4,456 million yen, due mainly to such factors as a decrease in net sales and a decline in the gross profit ratio resulting from changes in the composition of products sold. As for selling, general and administrative expenses, R&D expenditures increased by 11.4%, and selling, general and administrative expenses on the whole also rose by 8.5% compared to the previous fiscal year to 2,888 million yen, due primarily to such factors as accounting for part of the prototype development expenses for “AG-4” and “AG11”, LSI products designed based on cutting-edge processes, in fiscal 2010.Consequently, for fiscal 2010, the Company posted operating income of 1,568 million yen (down 74.7% year-on-year), ordinary income of 1,584 million yen (down 74.6% year-on-year), and net income of 1,043 million yen (down 72.8% year-on-year). |
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| Income Statement |
(¥1 million) |
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2010/3 |
Sales ratio |
2011/3 |
Sales ratio |
yoy |
| Net sales |
15,495 |
100% |
8,199 |
100% |
-47% |
| Gross profit |
8,873 |
57% |
4,456 |
54% |
-50% |
| Operating income |
6,211 |
40% |
1,568 |
19% |
-75% |
| Ordinary profit |
6,224 |
40% |
1,584 |
19% |
-75% |
| Net profit |
3,840 |
25% |
1,043 |
13% |
-73% |
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| Balance Sheet |
(¥1 million) |
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2010/3 |
Compo
-nent ratio |
2011/3 |
Compo
-nent ratio |
yoy |
| Current assets |
15,178 |
96% |
12,398 |
93% |
-18% |
| Fixed assets |
672 |
4% |
934 |
7% |
39% |
| Current liabilities |
2,288 |
14% |
819 |
6% |
-64% |
| Long-term |
- |
- |
11 |
0% |
- |
| Net assets |
13,562 |
86% |
12,501 |
94% |
-8% |
| LIabilities and Net assets |
15,850 |
100% |
1,332 |
100% |
-16% |
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