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## Financial Position 

Total assets at fiscal year-end stood at ¥1,033.5 billion, down ¥15.3 billion from March 31, 2009. Current assets declined ¥13.7 billion to ¥522.0 billion on account of a ¥14.9 billion decline in inventories, which stemmed from work to trim  inventories and adjust production to match falling demand, and other factors. Property, plant and equipment decreased ¥14.5 billion on account of impairment losses and other factors. Total investments and other assets increased ¥12.9 billion, reflecting a ¥4.7 billion increase in goodwill resulting from M&As, and a ¥5.2 billion increase in investments in securities. 

Total equity at fiscal year-end totaled ¥516.3 billion, and the equity ratio was 49.7%, compared with 50.6% a year earlier. 

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