DATA 10-Year Financial and
Non-Financial Data

Under JGAAP

(unit: million yen)

Fiscal year	2013	2014	2015	2016	2017	2018
Net sales	641,256	660,541	660,622	670,536	753,559	801,493
Operating income	35,078	36,126	39,524	41,341	42,398	43,580
Ordinary income	36,281	38,159	35,075	41,251	44,691	46,977
Net income attributable to shareholders of parent	19,225	20,702	20,139	22,337	25,173	26,468
Capital investment	32,348	32,028	42,236	40,587	61,309	78,526
Depreciation	24,337	25,222	26,620	25,524	27,119	27,620

Cash flows from operating activities	48,248	51,071	43,512	58,873	47,764	56,690
Cash flows from investing activities	(52,186)	(35,483)	(40,647)	(44,357)	(61,637)	(88,804)
Cash flows from financing activities	4,620	(7,940)	(8,115)	(8,553)	4,489	40,905
Free cash flow	(3,938)	15,587	2,864	14,516	(13,872)	(32,114)

Fiscal year end
Total assets	528,092	547,642	575,832	629,115	693,101	783,047
Interest-bearing debt	155,479	154,864	157,795	172,403	203,183	263,165
Shareholder’s equity	203,500	226,375	234,726	255,984	277,954	291,211

Per-share data						(円)
EPS (yen)	98.32	105.75	102.73	114.53	128.95	135.34
BPS (yen)	1,040.22	1,155.80	1,196.92	1,312.55	1,422.60	1,487.58
DPS (yen)	26	28	28	34	38	40

Major indicators
Ordinary income margin (%)	5.7	5.8	5.3	6.2	5.9	5.9
ROA (%)	7.2	7.1	6.2	6.8	6.8	6.4
ROE (%)	9.9	9.6	8.7	9.1	9.4	9.3
Equity ratio (%)	38.5	41.3	40.8	40.7	40.1	37.2
Net D/E ratio (x)	0.66	0.58	0.57	0.55	0.65	0.79
Dividend payout ratio (%)	26.4	26.5	27.3	29.7	29.5	29.6

Non-financial information
Number of employees (consolidated)	9,557	10,147	11,334	12,580	14,265	15,757
Number of consolidated subsidiaries	75	81	85	101	111	130

Under IFRS

(unit: million yen)

Fiscal year	2018	2019	2020	2021	2022
Revenue	742,288	809,083	806,630	888,668	1,004,914
Operating Profit	42,799	50,616	51,231	65,174	62,181
Profit before tax	42,111	49,830	49,651	64,230	60,978
Profit	30,139	33,526	30,410	46,263	42,649
Profit attributable to owners of parent	28,815	30,430	27,367	43,214	40,137
Capital investment	82,269	62,900	51,972	45,461	66,367
Depreciation	30,776	34,994	39,033	43,378	44,987

Cash flows from operating activities	61,212	43,784	76,601	71,572	56,953
Cash flows from investing activities	(91,615)	(115,597)	(52,699)	(53,154)	(71,135)
Cash flows from financing activities	39,045	80,981	(20,889)	(6,622)	19,257
Free cash flow	(30,403)	(71,813)	23,902	18,418	(14,182)

Fiscal year end
Total assets	785,944	899,699	926,821	1,022,031	1,091,645
Interest-bearing debt	276,942	334,248	337,826	373,745	390,219
Equity attributable to owners of parent	278,053	331,992	357,797	395,131	430,232

Per-share data
Basic EPS (yen)	147.33	147.43	120.98	191.06	176.84
DPS (yen)	40	44	44	56	60
Shares outstanding at the year end	198,705,057	229,755,057	229,755,057	229,755,057	229,755,057

Major indicators
Operating profit margin (%)	5.8	6.3	6.4	7.3	6.2
ROA on a pretax basis (%)	5.7	5.9	5.4	6.6	5.8
ROE (%)	10.6	10.0	7.9	11.5	9.7
Equity attributable to owners of parent to total assets (%)	35.4	36.9	38.6	38.7	39.4
Net D/E ratio (x)	0.88	0.88	0.82	0.8	0.75
Dividend payout ratio (%)	27.1	29.8	36.4	29.3	33.9
Overseas revenue ratio (%)	5.0	6.9	8.6	8.6	9.3

Non-financial information
Number of employees (consolidated)	15,825	18,211	18,843	19,560	20,109
Number of consolidated subsidiaries*	112	125	124	127	142

Only includes subsidiaries where AIR WATER INC. directly applies consolidated accounting and excludes indirect subsidiaries.
The direct subsidiaries include joint operations (joint control business).

DATA