[Projected FS (ENG)]
Bangladesh | Bangladesh | Sales growth rate | Sales growth rate | -100.0% | 13.2% | 0.0%
JPY | JPY | Unit：million BDT | BDT | BDT | Unit：million BDT
FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30
（Unit：JPY 1,000,000） | （Unit：JPY 1,000,000） | Actual | Actual | Projected | Projected | Projected | Projected | Projected | Projected | Actual | Actual | Projected | Projected | Projected | Projected | Projected | Projected | Japanese | English
PL | PL
Japanese | English
売上高（グループ間取引含む） | Sales (including from Group company) | 123 | 205 | 0 | 0 | 0 | 689 | 780 | 780 | 157 | 0 | 0 | 0 | 530 | 600 | 600 | 28年からオーダー開始とする、NSAのFR成長予測レポートと大森さんヒアリングによる他日系顧客ポテンシャルより（1～2億） | Orders will start from 2028, based on NSA's FR growth forecast report and interviews with other Japanese customers (100-200 million yen).
売上原価 | Cost of Sales | 99 | 129 | 3 | 3 | 8 | 434 | 547 | 561 | 0 | 99 | 2 | 2 | 7 | 334 | 421 | 432
仕入原価 | Purchase Costs | 0 | 0 | 0 | 0 | 0 | 282 | 320 | 320 | 変動 | Fluctuating | 0 | 0 | 0 | 0 | 217 | 246 | 246 | ベトナムの売上比率を参考に設定 | Set based on sales ratio in Vietnam
原材料仕入 | Raw Materials Purchases | 79 | 22 | 0 | 0 | 0 | 179 | 203 | 203 | 変動 | Fluctuating | 17 | 0 | 0 | 0 | 138 | 156 | 156 | ベトナムの売上比率を参考に設定 | Set based on sales ratio in Vietnam
外注費 | Subcontracting Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | Fluctuating | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ベトナムの売上比率を参考に設定 | Set based on sales ratio in Vietnam
人件費 | Labor Costs | 3 | 6 | 0 | 0 | 4 | 21 | 22 | 22 | 固定 | Fixed | 5 | 0 | 0 | 3 | 16 | 17 | 17 | FY27の10月より：生産管理MG1名（BDT150,000／月）と工員（＠BDT15,000／月）50名採用、FY28：工員30名追加採用、年昇給率2%とする | From October FY27: Hire 1 Production Management MG (BDT 150,000/month) and 50 workers (@BDT 15,000/month); FY28: Hire 30 more workers, with an annual salary increase of 2%
減価償却費 | Depreciation Expenses | 1 | 3 | 3 | 3 | 3 | 14 | 14 | 14 | 固定 | Fixed | 2 | 2 | 2 | 2 | 11 | 11 | 11 | FY28より稼働とし、償却期間は工場建屋40年、生産設備10年とした | It will start operation in FY28, and the depreciation period is set at 40 years for the factory building and 10 years for the production equipment.
消耗品費 | Consumables Expenses | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | Fluctuating | 0 | 0 | 0 | 0 | 0 | 0 | 0 | FY27より発生するものとする | It will be incurred from FY27
賃借料 | Rent Expenses | 12 | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | Fixed | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 賃料は発生しない | There is no rent
その他 | Other | 9 | 96 | 0 | 0 | 2 | 2 | 2 | 2 | 変動 | Fluctuating | 74 | 0 | 0 | 2 | 2 | 2 | 2 | FY27より発生するものとする（水道光熱費や管理費等1.3M／年、メンテナンス費用1M／年） | These will be incurred from FY27 (utility costs, management fees, etc. 1.3M/year, maintenance costs 1M/year)
在庫引当金 | Inventory Allowance | 0 | 0 | 0 | 0 | 0 | 7 | 1 | 0 | 変動 | Fluctuating | 0 | 0 | 0 | 0 | 5 | 1 | 0
在庫増減 | Inventory Changes | 8 | 10 | 0 | 0 | 0 | 73 | 15 | 0 | 変動 | Fluctuating | 8 | 0 | 0 | 0 | 56 | 12 | 0
売上総利益 | Gross Profit | 25 | 76 | (3) | (3) | (8) | 255 | 233 | 219 | 0 | 58 | (2) | (2) | (7) | 196 | 179 | 168
売上総利益率（対Ｇ間売上含む） | Gross Profit Margin (Including Sales to Group Companies) | 20.1% | 37.0% | 37.0% | 29.9% | 28.0% | 37.0% | 37.0% | 29.9% | 28.0%
販管費 | Selling and General Administrative Expenses | 19 | 23 | 0 | 0 | 11 | 53 | 53 | 54 | 0 | 17 | 0 | 0 | 9 | 40 | 41 | 42
人件費 | Labor Expenses | 2 | 3 | 0 | 0 | 6 | 25 | 26 | 26 | 固定 | Fixed | 3 | 0 | 0 | 5 | 20 | 20 | 20 | FY27no10月より：Behn、財務MG（＠BDT150,000／月）、人事MG（＠BDT150,000／月）、スタッフ1名（＠BDT60,000／月）、ドライバー（＠BDT35,000／月） | From October FY27: Behn, Finance Manager (BDT 150,000/month), Human Resources Manager (BDT 150,000/month), 1 staff member (BDT 60,000/month), Driver (BDT 35,000/month)
運送費 | Shipping Expenses | 1 | 0 | 0 | 0 | 0 | 3 | 3 | 3 | 変動 | Variable | 0 | 0 | 0 | 0 | 2 | 3 | 3 | FY28より発生するものとする | It will be incurred from FY28
販売手数料 | Sales Commissions | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | Variable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | UQ中心販売のためインセンティブの発生見込みなし | No incentives are expected as sales are centered on UQ
交通費 | Transportation Expenses | 0 | 0 | 0 | 0 | 5 | 5 | 5 | 5 | 固定 | Fixed | 0 | 0 | 0 | 4 | 4 | 4 | 4 | 1回の出張当たり1M×4回 | 1M x 4 times per trip
賃借料 | Rent Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | Fixed | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 賃料は発生しない | There is no rent
減価償却費 | Depreciation Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | Fixed | 0 | 0 | 0 | 0 | 0 | 0 | 0 | オフィス設備は保管して保持し続ける | Keep and maintain office equipment
その他 | Other | 12 | 19 | 0 | 0 | 0 | 19 | 19 | 19 | 固定 | Fixed | 15 | 0 | 0 | 0 | 15 | 15 | 15 | FY28より発生するものとする | It will be incurred from FY28
営業利益 | Operating Profit | 5 | 54 | (3) | (3) | (20) | 203 | 180 | 165 | 0 | 41 | (2) | (2) | (15) | 156 | 138 | 127
営業利益率 | Operating Profit Margin | 4.3% | 26.1% | 29.4% | 23.0% | 21.1% | 26.1% | 29.4% | 23.0% | 21.1%
営業外損益 | Non-Operating Income/Expenses | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0
業務委託費・商標使用料 | Outsourcing Fees and Trademark Royalties | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | Variable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする | Not accrued
支払利息等 | Interest Expenses, etc. | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | Fixed | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 今回の投資は増資を想定しているため利息発生はなし。 | As this investment is intended as a capital increase, no interest will be accrued.
金融費用 | Financial Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | Fixed | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする | Not accrued
為替差損益 | Foreign Exchange Gains/Losses | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする | Not accrued
持分法投資損益 | Equity in Earnings/Losses of Affiliates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 単体では発生しない | Not accrued on a standalone basis
その他 | Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | Fixed | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 横ばい | Flat
経常利益 | Ordinary Profit | 5 | 57 | (3) | (3) | (20) | 203 | 180 | 165 | 0 | 43 | (2) | (2) | (15) | 156 | 138 | 127
経常利益率 | Ordinary Profit Margin | 4.4% | 27.5% | 29.4% | 23.0% | 21.1% | 27.5% | 29.4% | 23.0% | 21.1%
特別損益 | Extraordinary Gains/Losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする | No tax will be incurred.
税引き前利益 | Profit Before Tax | 5 | 57 | (3) | (3) | (20) | 203 | 180 | 165 | 0 | 43 | (2) | (2) | (15) | 156 | 138 | 127
法人税等 | Corporate Taxes, etc. | 0 | 0 | 0 | 0 | 0 | (41) | (36) | (33) | 変動 | Variable | 0 | 0 | 0 | 0 | (31) | (28) | (25) | 法定実効税率20% | Effective statutory tax rate: 20%
当期純利益 | Net Income | 5 | 57 | (3) | (3) | (20) | 162 | 144 | 132 | 0 | 43 | (2) | (2) | (15) | 125 | 111 | 101
損益分岐点売上 | 78 | 177 | 180 | 184
BS | BS
現金預金 | Cash and deposits | 6 | 46 | 53 | 262 | 87 | 239 | 388 | 534 | 5 | 36 | 41 | 202 | 67 | 184 | 299 | 411
売上債権 | Trade receivables | 3 | 7 | 0 | 0 | 0 | 18 | 20 | 20 | 2 | 5 | 0 | 0 | 0 | 14 | 16 | 16
棚卸資産 | Inventory | 30 | 41 | 41 | 41 | 41 | 113 | 128 | 128 | 23 | 31 | 31 | 31 | 31 | 87 | 99 | 99 | 旧バングラナクシス在庫は保有継続 | Old Bangladeshi Naxis stock will continue to be held
在庫引当金 | Inventory reserve | 0 | 0 | 0 | 0 | 0 | (7) | (8) | (8) | 0 | 0 | 0 | 0 | 0 | (5) | (6) | (6)
その他流動資産 | Other current assets | 12 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 9 | 3 | 3 | 3 | 3 | 3 | 3 | 3
流動資産合計 | Total current assets | 51 | 98 | 97 | 306 | 131 | 366 | 532 | 678 | 39 | 75 | 75 | 235 | 100 | 282 | 409 | 522
有形固定資産 | Tangible fixed assets | 29 | 29 | 29 | 570 | 728 | 728 | 728 | 728 | 23 | 22 | 22 | 438 | 560 | 560 | 560 | 560 | 投資計画を反映 | Reflecting investment plans
無形固定資産 | Intangible fixed assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | FY25以降の積極的な投資はなし | No aggressive investments after FY25
減価償却累計額 | Accumulated depreciation | (4) | (3) | (5) | (8) | (11) | (25) | (39) | (53) | (3) | (2) | (4) | (6) | (8) | (19) | (30) | (41)
関連会社株式 | Stock of affiliated companies | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
その他の固定資産 | Other fixed assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 工場建設前払金を反映 | Reflects advance payment for factory construction
固定資産合計 | Total fixed assets | 26 | 26 | 24 | 562 | 718 | 703 | 689 | 675 | 20 | 20 | 18 | 432 | 552 | 541 | 530 | 519
資産合計 | Total assets | 77 | 124 | 121 | 868 | 848 | 1,070 | 1,221 | 1,353 | 59 | 95 | 93 | 668 | 652 | 823 | 939 | 1,041
仕入債務 | Trade payables | 10 | 0 | 0 | 0 | 0 | 59 | 67 | 67 | 8 | 0 | 0 | 0 | 0 | 46 | 52 | 52
その他流動負債 | Other current liabilities | 6 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 5 | 1 | 1 | 1 | 1 | 1 | 1 | 1
その他固定負債 | Other fixed liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
借入金（関係会社） | Loans (affiliated companies) | 76 | 77 | 76 | 750 | 750 | 750 | 750 | 750 | 58 | 59 | 59 | 577 | 577 | 577 | 577 | 577 | これまでの短期ローンは資本振替、これからの資金は長期ローン | Previous short-term loans were capital transfers, and from now on, funds will be long-term loans.
借入金（金融機関） | Loans (financial institutions) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
負債合計 | Total liabilities | 92 | 79 | 78 | 752 | 752 | 811 | 819 | 819 | 71 | 60 | 60 | 578 | 578 | 624 | 630 | 630
資本金 | Capital | 38 | 38 | 38 | 114 | 114 | 114 | 114 | 114 | 29 | 29 | 29 | 88 | 88 | 88 | 88 | 88 | これまでの短期ローンは資本振替 | Previous short-term loans were capital transfers
利益剰余金 | Retained earnings | (54) | 4 | 2 | (1) | (21) | 141 | 285 | 417 | (41) | 3 | 1 | (1) | (16) | 109 | 219 | 320
為替調整勘定等 | Foreign exchange adjustments, etc. | 0 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2
非支配株主持分 | Non-controlling interests | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
純資産 | Net assets | (15) | 45 | 43 | 116 | 96 | 259 | 402 | 534 | (12) | 35 | 33 | 89 | 74 | 199 | 309 | 411
負債・純資産合計 | Total liabilities and net assets | 77 | 124 | 121 | 868 | 848 | 1,070 | 1,221 | 1,353 | 59 | 95 | 93 | 668 | 652 | 823 | 939 | 1,041
自己資本比率 | Equity ratio | -19.8% | 36.6% | 35.3% | 13.4% | 11.4% | 24.2% | 32.9% | 39.5% | -20.0% | 36.6% | 35.2% | 13.4% | 11.4% | 24.2% | 32.9% | 39.5%
check | Check | (0) | 0 | (0) | (0) | (0) | (0) | (0) | (0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
売掛債権回転期間 | Accounts receivable turnover period | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9
棚卸資産回転期間 | Inventory turnover period | 90 | 0 | 60 | 60 | 60 | 60 | 60 | 60 | 90 | 0 | 60 | 60 | 60 | 60 | 60 | 60
仕入債務回転期間 | Trade payable turnover period | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47
CF
当期純利益 | Net Income | 5 | 57 | (3) | (3) | (20) | 162 | 144 | 132 | 4 | 43 | (2) | (2) | (15) | 125 | 111 | 101
減価償却費 | Depreciation Expense | 1 | 3 | 3 | 3 | 3 | 14 | 14 | 14 | 1 | 2 | 2 | 2 | 2 | 11 | 11 | 11
在庫引当金 | Inventory Allowance | 0 | 0 | 0 | 0 | 0 | (7) | (1) | 0 | 0 | 0 | 0 | 0 | 0 | (5) | (1) | 0
運転資本増減 | Changes in Working Capital | (42) | 25 | (7) | 0 | 0 | 31 | 9 | 0 | (32) | 19 | (5) | 0 | 0 | 24 | 7 | 0
売上債権 | Trade Receivables | (42) | 4 | (7) | 0 | 0 | 18 | 2 | 0 | (32) | 3 | (5) | 0 | 0 | 14 | 2 | 0
棚卸資産 | Inventory | 9 | 10 | 0 | 0 | 0 | 73 | 15 | 0 | 7 | 8 | 0 | 0 | 0 | 56 | 12 | 0
仕入債務 | Trade Payables | 9 | (10) | 0 | 0 | 0 | 59 | 8 | 0 | 7 | (8) | 0 | 0 | 0 | 46 | 6 | 0
持分法投資損益 | Equity in Earnings (Losses) of Affiliated Companies | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
その他 | Other | (51) | 4 | 0 | 0 | 0 | 0 | 0 | 0 | (39) | 3 | 0 | 0 | 0 | 0 | 0 | 0
営業キャッシュフロー | Operating Cash Flows | (2) | 39 | 7 | 0 | (17) | 152 | 149 | 146 | (1) | 29 | 5 | 0 | (13) | 117 | 115 | 112
設備投資 | Capital Investments | (5) | 1 | (0) | (541) | (158) | (0) | (0) | (0) | (4) | 1 | (0) | (416) | (122) | (0) | (0) | (0) | 投資計画を反映 | Reflects investment plans
その他 | Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 工場建設前払金を反映 | Reflects advance payments for factory construction
投資キャッシュフロー | Investing Cash Flows | (5) | 1 | (0) | (541) | (158) | (0) | (0) | (0) | (4) | 1 | (0) | (416) | (122) | (0) | (0) | (0)
借入金増減 | Increase/Decrease in Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
関係会社貸借増減 | Increase/Decrease in Affiliated Companies | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 577 | 0 | 0 | 0 | 0 | 長期ローン | Long-term loans
支払配当 | Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
その他 | Other | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 増資 | Capital increases
財務キャッシュフロー | Financial Cash Flows | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 577 | 0 | 0 | 0 | 0
現預金増減 | Increase/Decrease in Cash and Cash equivalents | (7) | 40 | 7 | (541) | (175) | 152 | 149 | 146 | (5) | 31 | 5 | 161 | (135) | 117 | 115 | 112
現預金換算差額 | Cash and Cash equivalents Exchange Rate Adjustments | 0
期末現預金 | Cash and Cash equivalents at End of Period | 6 | 46 | 54 | (488) | (663) | (511) | (361) | (216) | 5 | 36 | 41 | 202 | 67 | 184 | 299 | 411
check | 0 | 0 | 0 | (750) | (750) | (750) | (750) | (750) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
前提レート | Assumed rate
人民元 | Chinese Yuan | 19.82 | 21.04 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00
香港ドル | Hong Kong Dollar | 17.96 | 19.44 | 18.00 | 18.00 | 18.00 | 18.00 | 18.00 | 18.00
タイバーツ | Thai Baht | 4.04 | 4.30 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00
ベトナムドン | Vietnamese Dong | 0.0059 | 0.0060 | 0.0060 | 0.0060 | 0.0060 | 0.0060 | 0.0060 | 0.0060
インドネシアルピア | Indonesian Rupiah | 0.0093 | 0.0096 | 0.0090 | 0.0090 | 0.0090 | 0.0090 | 0.0090 | 0.0090
インドルピー | Indian Rupee | 1.82 | 1.70 | 1.70 | 1.70 | 1.70 | 1.70 | 1.70
バングラデシュタカ | BDT | 1.30 | 1.31 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30
米ドル | USD | 140.67 | 151.69 | 140.00 | 140.00 | 140.00 | 140.00 | 140.00 | 140.00
※AR
[三表詳細]
バングラデシュ | 売上成長率 | 売上成長率 | -100.0% | 13.2% | 0.0%
日本円 | 日本円 | Unit：百万円 | 現地通貨 | 現地通貨 | Unit：百万BDT
FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30
（単位：百万円） | 実績 | 実績 | 計画 | 計画 | 計画 | 計画 | 計画 | 計画 | 実績 | 実績 | 計画 | 計画 | 計画 | 計画 | 計画 | 計画
PL
売上高（グループ間取引含む） | 123 | 205 | 0 | 0 | 0 | 689 | 780 | 780 | 157 | 0 | 0 | 0 | 530 | 600 | 600 | 28年からオーダー開始とする、NSAのFR成長予測レポートと大森さんヒアリングによる他日系顧客ポテンシャルより（1～2億）
売上原価 | 99 | 129 | 3 | 3 | 8 | 434 | 547 | 561 | 0 | 99 | 2 | 2 | 7 | 334 | 421 | 432
仕入原価 | 0 | 0 | 0 | 0 | 0 | 282 | 320 | 320 | 変動 | 0 | 0 | 0 | 0 | 217 | 246 | 246 | ベトナムの売上比率を参考に設定
原材料仕入 | 79 | 22 | 0 | 0 | 0 | 179 | 203 | 203 | 変動 | 17 | 0 | 0 | 0 | 138 | 156 | 156 | ベトナムの売上比率を参考に設定
外注費 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ベトナムの売上比率を参考に設定
人件費 | 3 | 6 | 0 | 0 | 4 | 21 | 22 | 22 | 固定 | 5 | 0 | 0 | 3 | 16 | 17 | 17 | FY27の10月より：生産管理MG1名（BDT150,000／月）と工員（＠BDT15,000／月）50名採用、FY28：工員30名追加採用、年昇給率2%とする
減価償却費 | 1 | 3 | 3 | 3 | 3 | 14 | 14 | 14 | 固定 | 2 | 2 | 2 | 2 | 11 | 11 | 11 | FY28より稼働とし、償却期間は工場建屋40年、生産設備10年とした
消耗品費 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | FY27より発生するものとする
賃借料 | 12 | 12 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 賃料は発生しない
その他 | 9 | 96 | 0 | 0 | 2 | 2 | 2 | 2 | 変動 | 74 | 0 | 0 | 2 | 2 | 2 | 2 | FY27より発生するものとする（水道光熱費や管理費等1.3M／年、メンテナンス費用1M／年）
在庫引当金 | 0 | 0 | 0 | 0 | 0 | 7 | 1 | 0 | 変動 | 0 | 0 | 0 | 0 | 5 | 1 | 0
在庫増減 | 8 | 10 | 0 | 0 | 0 | 73 | 15 | 0 | 変動 | 8 | 0 | 0 | 0 | 56 | 12 | 0
売上総利益 | 25 | 76 | (3) | (3) | (8) | 255 | 233 | 219 | 0 | 58 | (2) | (2) | (7) | 196 | 179 | 168
売上総利益率（対Ｇ間売上含む） | 20.1% | 37.0% | 37.0% | 29.9% | 28.0% | 37.0% | 37.0% | 29.9% | 28.0%
販管費 | 19 | 23 | 0 | 0 | 11 | 53 | 53 | 54 | 0 | 17 | 0 | 0 | 9 | 40 | 41 | 42
人件費 | 2 | 3 | 0 | 0 | 6 | 25 | 26 | 26 | 固定 | 3 | 0 | 0 | 5 | 20 | 20 | 20 | FY27no10月より：Behn、財務MG（＠BDT150,000／月）、人事MG（＠BDT150,000／月）、スタッフ1名（＠BDT60,000／月）、ドライバー（＠BDT35,000／月）
運送費 | 1 | 0 | 0 | 0 | 0 | 3 | 3 | 3 | 変動 | 0 | 0 | 0 | 0 | 2 | 3 | 3 | FY28より発生するものとする
販売手数料 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | UQ中心販売のためインセンティブの発生見込みなし
交通費 | 0 | 0 | 0 | 0 | 5 | 5 | 5 | 5 | 固定 | 0 | 0 | 0 | 4 | 4 | 4 | 4 | 1回の出張当たり1M×4回
賃借料 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 賃料は発生しない
減価償却費 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | オフィス設備は保管して保持し続ける
その他 | 12 | 19 | 0 | 0 | 0 | 19 | 19 | 19 | 固定 | 15 | 0 | 0 | 0 | 15 | 15 | 15 | FY28より発生するものとする
営業利益 | 5 | 54 | (3) | (3) | (20) | 203 | 180 | 165 | 0 | 41 | (2) | (2) | (15) | 156 | 138 | 127
営業利益率 | 4.3% | 26.1% | 29.4% | 23.0% | 21.1% | 26.1% | 29.4% | 23.0% | 21.1%
営業外損益 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0
業務委託費・商標使用料 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 変動 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする
支払利息等 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 今回の投資は増資を想定しているため利息発生はなし。
金融費用 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする
為替差損益 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする
持分法投資損益 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 単体では発生しない
その他 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 固定 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 横ばい
経常利益 | 5 | 57 | (3) | (3) | (20) | 203 | 180 | 165 | 0 | 43 | (2) | (2) | (15) | 156 | 138 | 127
経常利益率 | 4.4% | 27.5% | 29.4% | 23.0% | 21.1% | 27.5% | 29.4% | 23.0% | 21.1%
特別損益 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 発生しないものとする
税引き前利益 | 5 | 57 | (3) | (3) | (20) | 203 | 180 | 165 | 0 | 43 | (2) | (2) | (15) | 156 | 138 | 127
法人税等 | 0 | 0 | 0 | 0 | 0 | (41) | (36) | (33) | 変動 | 0 | 0 | 0 | 0 | (31) | (28) | (25) | 法定実効税率20%
当期純利益 | 5 | 57 | (3) | (3) | (20) | 162 | 144 | 132 | 0 | 43 | (2) | (2) | (15) | 125 | 111 | 101
損益分岐点売上 | 78 | 177 | 180 | 184
BS
現金預金 | 6 | 46 | 53 | 262 | 87 | 239 | 388 | 534 | 5 | 36 | 41 | 202 | 67 | 184 | 299 | 411
売上債権 | 3 | 7 | 0 | 0 | 0 | 18 | 20 | 20 | 2 | 5 | 0 | 0 | 0 | 14 | 16 | 16
棚卸資産 | 30 | 41 | 41 | 41 | 41 | 113 | 128 | 128 | 23 | 31 | 31 | 31 | 31 | 87 | 99 | 99 | 旧バングラナクシス在庫は保有継続
在庫引当金 | 0 | 0 | 0 | 0 | 0 | (7) | (8) | (8) | 0 | 0 | 0 | 0 | 0 | (5) | (6) | (6)
その他流動資産 | 12 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 9 | 3 | 3 | 3 | 3 | 3 | 3 | 3
流動資産合計 | 51 | 98 | 97 | 306 | 131 | 366 | 532 | 678 | 39 | 75 | 75 | 235 | 100 | 282 | 409 | 522
有形固定資産 | 29 | 29 | 29 | 570 | 728 | 728 | 728 | 728 | 23 | 22 | 22 | 438 | 560 | 560 | 560 | 560 | 投資計画を反映
無形固定資産 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | FY25以降の積極的な投資はなし
減価償却累計額 | (4) | (3) | (5) | (8) | (11) | (25) | (39) | (53) | (3) | (2) | (4) | (6) | (8) | (19) | (30) | (41)
関連会社株式 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
その他の固定資産 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 工場建設前払金を反映
固定資産合計 | 26 | 26 | 24 | 562 | 718 | 703 | 689 | 675 | 20 | 20 | 18 | 432 | 552 | 541 | 530 | 519
資産合計 | 77 | 124 | 121 | 868 | 848 | 1,070 | 1,221 | 1,353 | 59 | 95 | 93 | 668 | 652 | 823 | 939 | 1,041
仕入債務 | 10 | 0 | 0 | 0 | 0 | 59 | 67 | 67 | 8 | 0 | 0 | 0 | 0 | 46 | 52 | 52
その他流動負債 | 6 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 5 | 1 | 1 | 1 | 1 | 1 | 1 | 1
その他固定負債 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
借入金（関係会社） | 76 | 77 | 76 | 750 | 750 | 750 | 750 | 750 | 58 | 59 | 59 | 577 | 577 | 577 | 577 | 577 | これまでの短期ローンは資本振替、これからの資金は長期ローン
借入金（金融機関） | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
負債合計 | 92 | 79 | 78 | 752 | 752 | 811 | 819 | 819 | 71 | 60 | 60 | 578 | 578 | 624 | 630 | 630
資本金 | 38 | 38 | 38 | 114 | 114 | 114 | 114 | 114 | 29 | 29 | 29 | 88 | 88 | 88 | 88 | 88 | これまでの短期ローンは資本振替
利益剰余金 | (54) | 4 | 2 | (1) | (21) | 141 | 285 | 417 | (41) | 3 | 1 | (1) | (16) | 109 | 219 | 320
為替調整勘定等 | 0 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2
非支配株主持分 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
純資産 | (15) | 45 | 43 | 116 | 96 | 259 | 402 | 534 | (12) | 35 | 33 | 89 | 74 | 199 | 309 | 411
負債・純資産合計 | 77 | 124 | 121 | 868 | 848 | 1,070 | 1,221 | 1,353 | 59 | 95 | 93 | 668 | 652 | 823 | 939 | 1,041
自己資本比率 | -19.8% | 36.6% | 35.3% | 13.4% | 11.4% | 24.2% | 32.9% | 39.5% | -20.0% | 36.6% | 35.2% | 13.4% | 11.4% | 24.2% | 32.9% | 39.5%
check | (0) | 0 | (0) | (0) | (0) | (0) | (0) | (0) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
売掛債権回転期間 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9
棚卸資産回転期間 | 90 | 0 | 60 | 60 | 60 | 60 | 60 | 60 | 90 | 0 | 60 | 60 | 60 | 60 | 60 | 60
仕入債務回転期間 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47 | 47
CF
当期純利益 | 5 | 57 | (3) | (3) | (20) | 162 | 144 | 132 | 4 | 43 | (2) | (2) | (15) | 125 | 111 | 101
減価償却費 | 1 | 3 | 3 | 3 | 3 | 14 | 14 | 14 | 1 | 2 | 2 | 2 | 2 | 11 | 11 | 11
在庫引当金 | 0 | 0 | 0 | 0 | 0 | (7) | (1) | 0 | 0 | 0 | 0 | 0 | 0 | (5) | (1) | 0
運転資本増減 | (42) | 25 | (7) | 0 | 0 | 31 | 9 | 0 | (32) | 19 | (5) | 0 | 0 | 24 | 7 | 0
売上債権 | (42) | 4 | (7) | 0 | 0 | 18 | 2 | 0 | (32) | 3 | (5) | 0 | 0 | 14 | 2 | 0
棚卸資産 | 9 | 10 | 0 | 0 | 0 | 73 | 15 | 0 | 7 | 8 | 0 | 0 | 0 | 56 | 12 | 0
仕入債務 | 9 | (10) | 0 | 0 | 0 | 59 | 8 | 0 | 7 | (8) | 0 | 0 | 0 | 46 | 6 | 0
持分法投資損益 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
その他 | (51) | 4 | 0 | 0 | 0 | 0 | 0 | 0 | (39) | 3 | 0 | 0 | 0 | 0 | 0 | 0
営業キャッシュフロー | (2) | 39 | 7 | 0 | (17) | 152 | 149 | 146 | (1) | 29 | 5 | 0 | (13) | 117 | 115 | 112
設備投資 | (5) | 1 | (0) | (541) | (158) | (0) | (0) | (0) | (4) | 1 | (0) | (416) | (122) | (0) | (0) | (0) | 投資計画を反映
その他 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 工場建設前払金を反映
投資キャッシュフロー | (5) | 1 | (0) | (541) | (158) | (0) | (0) | (0) | (4) | 1 | (0) | (416) | (122) | (0) | (0) | (0)
借入金増減 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
関係会社貸借増減 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 577 | 0 | 0 | 0 | 0 | 長期ローン
支払配当 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
その他 | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 増資
財務キャッシュフロー | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 577 | 0 | 0 | 0 | 0
現預金増減 | (7) | 40 | 7 | (541) | (175) | 152 | 149 | 146 | (5) | 31 | 5 | 161 | (135) | 117 | 115 | 112
現預金換算差額 | 0
期末現預金 | 6 | 46 | 54 | (488) | (663) | (511) | (361) | (216) | 5 | 36 | 41 | 202 | 67 | 184 | 299 | 411
check | 0 | 0 | 0 | (750) | (750) | (750) | (750) | (750) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0
前提レート
人民元 | 19.82 | 21.04 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00
香港ドル | 17.96 | 19.44 | 18.00 | 18.00 | 18.00 | 18.00 | 18.00 | 18.00
タイバーツ | 4.04 | 4.30 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00 | 4.00
ベトナムドン | 0.0059 | 0.0060 | 0.0060 | 0.0060 | 0.0060 | 0.0060 | 0.0060 | 0.0060
インドネシアルピア | 0.0093 | 0.0096 | 0.0090 | 0.0090 | 0.0090 | 0.0090 | 0.0090 | 0.0090
インドルピー | 1.82 | 1.70 | 1.70 | 1.70 | 1.70 | 1.70 | 1.70
バングラデシュタカ | 1.30 | 1.31 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30 | 1.30
米ドル | 140.67 | 151.69 | 140.00 | 140.00 | 140.00 | 140.00 | 140.00 | 140.00
※AR