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SAPPORO
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Home > Investor Relations > Financial Highlights > Consolidated Statements of Income

Financial Statements

Consolidated Statements of Income

(millions of yen)
Fiscal year 2013 2014 2015 2016 2017
Net Sales 509,834 518,740 533,748 541,847 551,548
Cost of sales 329,605 336,388 352,808 352,420 358,572
Gross profit 180,229 182,352 180,940 189,426 192,976
Selling, general and administrative expenses
Sales incentives and commissions 33,067 33,546 35,841 38,750 39,918
Advertising and promotion expenses 21,211 22,691 21,982 20,420 20,239
Salaries 31,406 32,187 31,954 32,039 33,493
Provision for accrued bonuses 1,088 1,451 1,218 1,726 1,921
Retirement benefit expenses 3,350 2,968 2,690 784 715
Other 74,760 74,777 73,303 75,438 79,655
Operating Income 15,344 14,728 13,950 20,267 17,032
Non-operating income
Interest income 245 229 252 231 164
Dividend income 797 831 1,123 1,111 1,162
Equity in income of an affiliate 99 225 17 15 19
Foreign exchange gains 849 576 - - -
Gain on valuation of derivatives - - 468 - -
Other 1,226 948 1,059 958 746
Non-operating expenses
Interest expense 2,704 2,399 2,279 2,142 1,924
Foreign exchange losses - - 537 217 86
Loss on valuation of derivatives - - - 252 73
Other 728 573 842 769 629
Ordinary Income 15,130 14,565 13,211 19,202 16,410
Extraordinary gains
Gain on sales of property, plant and equipment 61 3,528 7,453 45 1,977
Gain on sales of investment securities 3,491 230 46 13 4,836
Gain on sale of consolidated subsidiary - 966 72 - -
Subsidy income - - 322 - -
Extraordinary losses
Loss on disposal of property, plant and equipment 1,158 2,142 1,534 1,413 1,068
Loss on sales of property, plant and equipment 220 108 24 26 38
Loss on impairment of property, plant and equipment 425 893 5,956 1,018 3,735
Loss on devaluation of investment securities 59 11 1,758 22 273
Loss on sales of investment securities 3 0 - - -
Business structure improvement expenses 253 - - - -
Compensation expenses - 1,753 142 376 307
Additional liquor tax paid and other - 11,685 - - -
Profit before income taxes 16,562 2,694 11,690 16,403 17,801
Current income taxes 7,677 1,624 7,409 6,185 8,243
Deferred income taxes (534) 975 (1,830) 838 (61)
Profit 9,419 94 6,112 9,380 9,619
Profit (loss) attributable to non-controlling interests (32) (245) 3 (89) (1,358)
Profit attributable to owners of the parent 9,451 340 6,108 9,469 10,977