GRIPS Financial Report 2017
GRIPS Financial Report 2017 –outline-

Finance Division－Contents －1. Financial Operation and PDCA Cycle

1

2. Financial Highlights for Fiscal 2016

2

3. Outline of Financial Statements• Balance Sheet

4• Profit and Loss Statement

6• Cash Flow Statement

8• National University Corporation Business Operation
Cost Statement

9• Earnings Statement10

4. Financial Information on Management (Analysis Using
Financial Indicators)

12

Financial Operation and PDCA Cycle○ In financial operation, the budget should be accurately compiled and executed in line with confirmation andevaluation.

Feedback
Medium-term goals andplans (six years)

Evaluation (Minister of
Education, Culture, Sports,
Science and Technology, etc.)

Annual plan (each fiscal year)

Compilation of GRIPS budget

Audit (auditor-secretary,
accounting auditor, etc.)

Execution of budget andsettlement of accounts-1-

Financial Highlights for Fiscal 2016

Financial Conditions including Land and Building Holding, Investment from the Government
and Borrowings at the End of Fiscal 2016
- Outline and component ratio of the balance sheet for fiscal 2016 (as of March 31, 2017)
Other fixed assets¥20 million
0%

Other current
assets¥0.53 billion
2%

Cash and deposits¥2.18 billion
8%

Books
¥0.95 billion
3%
Machinery◯ The assets at the end of fiscal
equipment
2016 were 27.666 billion yen (down ¥0.110%billion
351 million yen from the previous
fiscal year), the liabilities were 3.763
billion yen (up 28 million yen), andtotal net assets were 23.893 billion
yen (up 323 million yen).

【Assets】¥27.66billion(Up 1.3%)

Buildings, etc.
¥5.51 billion
20%

Land
¥18.35 billion
66%

PFI liabilities, asset
collateral liabilities, Accounts payable,
etc. (fixedunspent donations,liabilities)
etc. (current¥1.39 billion
liabilities)
9%¥2.37 billion
9%

Retained earnings¥0.48 billion
2%◯ About 90% of the property (assets) necessary for conducting the operationsof GRIPS is mainly comprised of investment from the government (netassets), and the remaining 10% assets obtained based on subsidies fromthe government, donations, etc.

【Liabilities/net assets】¥3.76/¥23.89 billion(Up 1.4%/Up 0.8%)

Government
contribution, etc.
¥23.41 billion
85%

Financial Operation Conditions for Fiscal 2016 (Amounts Received and Spent*)- Outline and component ratio of ordinary revenues and ordinary expenses for fiscal 2016 (April 1, 2016 – March 31, 2017)◯ The ordinary revenues in fiscal 2016 were 3.233 billion yen (down 124
million yen from the previous fiscal year), and the ordinary expenses were
3.29 billion yen (down 201 million yen).
Profit for the current fiscal year, after adding the reversal amount ofreserve carried forward during the former medium-term target period(JPY120 million) (amount carried over from fund for the business continued
from the previous medium-term target period, for which the budget wasallocated before fiscal 2015) to the difference amount is 62 million yen.
◯ Income from government subsidies for
management expenses accounts for about
62% of the ordinary revenues, and income
from tuition fees, etc. accounts for 7%.
Income from contracted research, subsidies
and donations accounts for 25%.
◯ With regard to ordinary expenses, personnel
expenses account for 58%, education andresearch expenses (education expenses,
research expenses, and expenses foreducation and research support) about 30%
and general and administrative expenses
about 9%.

OthersGeneral and ¥20 million
administrative1%
expenses¥0.34 billion
9%Personnel
expenses¥1.9 billion
58%【Ordinary
expenses】¥3.29 billion(down 5.8%)

Income fromtuition fees
¥0.23 billion
7%

Income fromgovernment
subsidies for
management
expenses¥1.99 billion
62%

Education
expenses
Research¥0.17 billion expenses
5%¥0.4 billion
12%【Ordinary
revenue】¥3.23 billion(down 3.7%)

Income fromcontracted
research, subsidies
and donations¥0.8 billion
25%

Others¥0.2 billion
7%
Expenses foreducation andresearch support¥0.19 billion
6%

Contracted
research
expenses¥0.31 billion
9%* National university corporations cannot immediately record received government subsidies for management expenses, tuition fees,
income from contracted research, subsidies and donations as revenues.
These funds are once recorded as liabilities, and then used as expenses for education research activities and transferred to revenues inaccordance with the progression of corporation businesses. This is referred to as “transfer to revenue.”
The amount of income and the amount transferred to revenue in each fiscal year may differ because not all of the received funds (funds
recorded as liabilities) are transferred to revenue during such fiscal year.

-2-

Financial Highlights for Fiscal 2016

Major financial injection from thegovernment

Income from government subsidies for management expenses◯The income from government subsidies for management expenses for fiscal 2016 (cash flow basis)
was 2.16 billion yen (+0.2 billion yen or +9.1% compared to the previous fiscal year)
Million yen

2,000Changes in income from government subsidies for management expenses(Amount equivalent to general subsidies for management expenses
and focused support)

176

Focusedsupport(special
expenses onor before
fiscal 2015)

1,559

Generalsubsidies

1,900
1,800
318
1,700

67 77

197
124

1,600
1,500 1,645
1,400

339

147 173 176

1,629

1,626

1,598

207

1,525

1,609
1,541

1,574

Changes in income from government subsidies for
management expenses (special factor allowance)
Million yen

1,500

1,000

500

1,585
320 293 288 314 290 292 334 349 225 255 243
02007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

1,553
1,300
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
* The above chart shows annual change in the amount of general government subsidies for
management expenses (basic government subsidies for management expenses) and theamount equivalent to budget for focused support (expenses required for the focused support
for education and research activities). (Figures for 2006-2016 are actual results and that for2017 is on a budgetary basis.)* The above figure shows annual changes in special factor allowance(retirement allowance, PFI maintenance and management expenses, etc.)
among government subsidies for management expenses. (Figures for
2006-2016 are actual results and that for 2017 is on a budgetary basis.)

Acceptance of external funds

Payment from students
and exemption system

Payment from students

Changes in payment from students
Million yen◯The amount of payment from students is about 0.2 billion yen every year
as indicated in the figure to the right (about 8% of income from operating
revenue).

300

200

100

* The amount of payment from students should be decided by each corporation within acertain limit based on the standard amount under the Ministerial Ordinance on Tuition andOther Expenses at National Universities, etc. (Unit tuition fee (annual amount): 535,800 yen)

-on a cash flow basis- (on a budgetary basis for
2017)

9 8
8
8
7
8
74 66 65 7 7 7 7 764
61 60 51
75
62
60 57
136 150 163 163 157 147 142 138 132 143 139

Application
fees
Admission
fees
Tuition fees02007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Tuition exemption system
The total number of the eligible students for tuition exemption in fiscal 2016 was 89, and the amount of exemption was
24 million yen, equivalent to 14.1% of the amount of tuition fees to be collected.
◯ The amount of acceptance of externalfunds in fiscal 2016 (excluding grant-in-aid
for scientific research and subsidies) was
1.08 billion yen (about five-fold increase
compared with fiscal 2005).
◯ The amount of acceptance of externalfunds including grant-in-aid for scientificresearch and subsidies was 1.7 billion yen.
(about four-fold increase compared withfiscal 2005)
External funds include donations from companies,
and funds from projects contracted by the
Ministry of Education, Culture, Sports, Science andTechnology (MEXT) and other ministries.
These funds are becoming more important for thevitalization of education and research and thestabilization of management amid annually
declining basic subsidies for management
expenses.

Changes in acceptance of external funds–amount of acceptance for the current year*For a multiple-year project, the full amount is included at the time of receipt.

Million yen

1,800
1,600

267

1,400

Grant-in-aid
for scientificresearch
Subsidies

353

1,200

245
309

Contracts,
etc.

1,000
361 526

800

Donations533

176
111 153 184

600
105
400
200
0

210 239
178
0

0

3

957
274

207 165 176 242

189

441

278

304
316 306
250 240 188 267
268
195
95 146 118
31 38 36 43 50 39 24 21 50
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016-3-

Outline of Financial Statements

Balance Sheet
The balance sheet indicates the balance of assets, liabilities and net assets at the end of the fiscal year,
and shows the financial conditions of GRIPS.
Liabilities and net assets indicate the source of funding, and assets indicate manners of operation of funds
raised.
Assets:Fixed assets including land and buildings account for the majority of assets.
Liabilities: PFI liabilities for which the government covers fund for repayment account for 25% ofliabilities, and liabilities that arise from the special accounting treatment of national university
corporations, such as asset collateral liabilities, account for 41%. GRIPS is striving to securestable financial management through well-planned payment, etc.
Net assets: Net assets account for 86% of the total of liabilities and net assets, 73% of which isgovernment equity.

■Breakdown of Assets, Liabilities, and Net Assets in Fiscal 2016

Books
3.4%

AssetsBuildings/
Structures
19.9%

Land
66.4%

Machineryequipment / Tools andequipment
0.4%

Current liabilities
8.6%

Liabilities

Other fixed assets
0.1%

Reserve carried forward during former
medium-term target period
Capital surplus
1.5%
21.3%

Liabilities and net assets

Fixed
Liabilities
5.0%

Current assets
9.9%

Government equity 63.3%

Net assets-4-

Unappropriatedincome for thecurrent year
0.2%Outline of Financial Statements■Balance Sheet(Unit: million yen)
Fiscal 2015

Fiscal 2016

Increase/
Decrease

27,30527,656351

Fixed assets

25,19324,945-248

Land18,351

18,351-

Buildings

5,666

5,443

-223

Structures

74

67

-7

Machinery equipment

2

2

-1

Tools and equipment

134

109

-25

Books

933

950

16

Software

31

23

-8

Telephone rights

1

1

-

2,112

2,711

1,854

2,177

323

2

1

-1

Other accrued income

252

533

281

Other current assets

4

0

-4

3,735

3,763

28

2,020

1,393

-627

1,083

1,077

-6

PFI liabilities

937

316

-621

Current liabilities

1,715

2,370

655

-

148

148

Donation liabilities

306

305

-0

PFI liabilities to be repaid within a year

608

621

14

Accounts payable

504

360

-144

Other current liabilities

298

937

23,57023,893323

Government equity

17,507

17,507-

Capital surplus

5,508

5,904

396

Retained earnings

555

482

-73

Reserve carried forward during former
medium-term target period

148

420

272

Reserves for education and research

186

-

-186

Unappropriated income for the current
year

221

62

-159

Item
AssetsCurrent assets
Cash and deposits
Accrued income for payment fromstudents

Liabilities
Fixed liabilities
Asset collateral liabilities

Liabilities from government subsidies for
management expenses

Net assets* Total amounts and other amounts may differ due to rounding up to the nearest unit.

-5-

Decrease due to depreciation

599
Increase due to forecast payment
associated with execution of multipleyear research contracts

Decrease due to fulfillment of
obligation based on the PFI projectcontract

Government subsidies for management
expenses, tuition fees paid by students, anddonations from companies are recorded as
current liabilities, not as revenues, at thetime of receipt.
This is because GRIPS has obligations to
implement certain projects appropriate forthe amounts of subsidies and amounts
received, including education and research.
These liabilities are transferred to revenue
according to the period elapsed and theamount expended for the projects.

639

Increase due to receipt of facilities
improvement subsidies (for PFI
projects), etc.
Decrease due to transfer of thebalance of liabilities for government
subsidies for management expenses
to revenue, as a part of accountsettlement for the final fiscal year of
the medium-term target period in
fiscal 2015.

Outline of Financial Statements■ Breakdown of Ordinary Expenses and Ordinary Revenues
in Fiscal 2016
Profit and Loss Statement

Ordinary expenses
Financial expenses
1%
Education expenses
5%

The profit and loss statement shows
the amount of expenses andrevenues that arose during an
accounting period.
It shows the type of expenses
incurred by a national university
corporation for the implementationof education and research, as well as
the revenue generated from such
expenses and the resulting profit andlosses.
It excludes subsidies for scientificresearch and other expenses granted
for individual researchers.

What is the difference between
profit and income?
Profit/expense: accrual basis accounting
Income/expenditure: cash basis accounting
Item which is treated as profit, not income(Ex.) Accrued income, such as interest
Item which is treated as income, not profit(Ex.) Deferred income, such as a deposit
Item which is treated as expenditure, notexpenses(Ex.) Expenses in advance, such as rent

General andadministrative
expenses
9%

Expenses foreducation andresearch support
6%

Contracted
research/contracted
project expenses,
etc.
9%Personnel expenses
58%

Ordinary revenues

Revenues fromdonations4%

Miscellaneous
gain
6%

Other
1%

Revenues fromsubsidies
11%

Revenues fromcontracted
research/contracted
project, etc.

10%

Item which is treated as expenses, notexpenditure(Ex.) Allowance for depreciation

Research expenses
12%

Revenues fromtuition fees
7%

-6-

Government
subsidies for
management
expenses62%

Outline of Financial Statements■Profit and Loss Statement(Unit: million yen)
Fiscal 2015

Fiscal 2016

Increase/decrease

3,491

3,290

-201

3,110

2,968

-141

Education expenses

234

171

-62

Research expenses

440

396

-44

Expenses for education and researchsupport

348

191

-158

Contracted research expenses

238

217

-21

-

5

5

122

84

-38

1,728

1,904

177

General and administrative expenses

344

298

-46

Financial expenses

38

24

-13

3,356

3,233

-124

1,957

1,995

38

Revenues from tuition fees

221

226

5

Revenues from contracted research

244

218

-25

-

5

5

Revenues from contracted project, etc.

132

103

-29

Revenues from subsidies, etc.

530

353

-178

Revenues donations

70

122

52

Reversal of asset collateral liabilities

27

25

-2

Financial revenues

1

1

-0

Miscellaneous gains

172

184

12

Ordinary income

-135

-58

77

Temporary losses

0

0

-0

Item
Ordinary expenses
Operating expenses

Joint research expenses
Contracted project expenses, etc.
Personnel expenses

Ordinary revenues
Revenues from government subsidies for
management expenses

Revenues from joint research※ 単位未満を四捨五入して記載しているため、合計額などが合わない場合があります。

Temporary income

124

0

-124

Net profit for the current year

-12

-58

-46

Reversal from reserve

233

120

-113

Gross income for the current year

221

62

-159

-7-

Decrease due to the termination of
new campus network system project

New item added from fiscal 2016

Increase of retirement allowance, etc.

Decrease due to termination of largescale contracted research projects, etc.

Decrease due to termination of ongoing projects and classification of thesubsidiarybusinessfund
asgovernment
subsidiesformanagement expenses
Increase in expenses due to theprogress of projects funded
donationsbyDecrease due to transfer of thebalance of liabilities for government
subsidies for management expenses
to revenue, as a part of accountsettlement for the final fiscal year of
the medium-term target period in
fiscal 2015.

Outline of Financial Statements

Cash Flow Statement
The cash flow statement indicates, as a certain category of activity, cash flow during an accounting year. It
indicates cash flow and surplus or deficit, which are not read from the balance sheet or profit and loss
statement.
While the profit and loss statement shows expenses and revenues generated during thecurrent year, it recognizes and measures the fact of receipt and payment of cash, including borrowing andcapital increase irrelevant to expenses and revenues, and is indicated by the classification of income (plus) or
expenditure (minus: -).

■Cash Flow Statement
Indicating cash flow of eachproject income or expenditure
regarding the implementation ofbusinesses such as education andresearch

Recording a balance of the amountreceived and paid

Showing cash flow including gainof fixed assets and fundmanagement for establishingmanagement bases for the futureShowing cash flow regarding
repayment of borrowing, etc.

Showing increase or decreasein cash during the current year.

Cash at end of year excludes
time deposits, therefore, it
differs from cash and deposits
in the balance sheet.

(Unit: million yen)
Fiscal 2015

Fiscal 2016

Increase/
Decrease

-73

450

523

Payments for purchases of raw materials,
products, or services-1,204-1,008196

Payments for personnel expenses-1,880-1,878

2

Payments for other businesses

-319

-344

-25

Income from government subsidies for
management expenses

1,961

2,157

197

Income from payments from students

199

207

8

Income from contracted research, contracted
projects, etc.

368

665

297

Income from subsidies, etc.

493

355

-138

Income from donations

146

117

-29

Income from other businesses

169

189

20

Income from deposits received

-6

3

-9

Accounts paid into national treasury

-

-14

-14

II Cash flow from investment activities

541

412

-129

Expenditure due to acquisition of tangible fixed
assets and intangible fixed assets

-61

-141

-80

Income from repayment of time deposit

600

600

-

Payments for deposit to time deposit

-600

-700

-100

Income from facility expenses

601

652

51

Interest and dividends received

1

1

-0

III Cash flow from financial activities

-639

-639

-

Redemption paid of PFI liabilities

-594

-608

-13

Interest paid

-44

-31

13

-

-

-

V Increase/decrease in cash

-171

223

394

VI Cash at beginning of year

1,425

1,254

-171

VII Cash at end of year

1,254

1,477

223

Item
I Cash flow from business activities

IV Effect of exchange rate changes on cash

* Total amounts and other amounts may differ due to rounding up to the nearest unit.

-8-

Outline of Financial Statements

National University Corporation Business Operation Cost Statement
This statement shows the costs spent for business management of GRIPS, including education andresearch, which are funded by taxpayers (“national university corporation business operation cost.”).
This statement is only prepared by incorporated administrative agencies and national university
corporations, not by private companies.
It excludes subsidies for scientific research and other expenses granted for individual researchers.

■National University Corporation Business Operation Cost Statement(Unit: million yen)

Fiscal 2015

Fiscal 2016

Increase/decrease

2,712

2,483

-229

3,491

3,291

-201

3,110

2,968

-141

General and administrative expenses

344

298

-46

Financial expenses

38

24

-13

Temporary losses

0

0

-1

(2) (Deduction) Self-income, etc.

-779

-807

-28

Revenues from tuition fees

-154

-163

-9

Revenues from admission fees

-60

-56

4

Revenues from application fees

-7

-7

0

-244

-218

25

-

-5

-5

Revenues from contracted projects, etc.

-132

-103

29

Revenues from donations

-70

-122

-52

Financial revenues

-1

-1

0

Miscellaneous gains

-107

-129

-22

Reversal of government subsidies for asset
collateral management expenses

-2

-2

0

Reversal of asset collateral donations

-1

-1

-0

Temporary profits

-0

-0

0

II Depreciation equivalent outside of profit and loss

251

257

6

III Estimated amount increased in bonuses outside
allowance

8

-4

-12

IV Estimated amount increased in retirement benefits
outside allowance

84

-56

-141

V Opportunity costs

-

15

15

Government-funded opportunity costs

-

15

15

VI (Deduction) Payment into national treasury

-

-

-

3,056

2,695

-361

Item
I Business costs(1) Costs in the profit and loss statement
Operating expenses

Revenues from contracted research
Revenues from joint research

VII National university corporation business
operation cost

* Total amounts and other amounts may differ due to rounding up to the nearest unit.

-9-

Showing the amount ofexpenses stated in the profit
and loss statement, less therevenues from self-income.

Showing the non-taxpayerfunded revenues

Showing the amount ofdepreciation of nonprofitable assets

Showing the estimated increase
in allowance for bonuses to bepayable from the government
subsidies for management
expenses (recording thedifference from the previous
year)

Showing the estimatedincrease in allowance forretirement benefits to be payablefrom the government subsidies
for management expenses(recording the difference fromthe previous year)

Outline of Financial Statements

Earnings Statement
This statement needs to be prepared pursuant to the accounting recognition standard (cash basis andsettlement period) of the national government, and shows prospects and results of management status ofnational university corporations.
Specifically, it compares budget amounts in the annual plan (calculated based on budget amounts andothers under the estimation of government subsidies for management expenses presented from MEXT)
with settlement amounts that were actually executed.
It excludes subsidies for scientific research and other expenses granted for individual
researchers.

■Breakdown of Settlement Amounts of Income and Expenditure in Fiscal 2016
IncomeFacilities
improvement
Subsidies
15%

Income fromindustry-university
collaboration
research andincome fromdonations, etc.
18%

Income fromprojects coveredby government
subsidies for
management
expenses
57%

Income fromsubsidies, etc.
8%

Government
subsidies for
management
expenses48%

Income from tuition fees,
admission fees, and application
fees 5%

Miscellaneous income 4%

Reversal amount of reserve
carried forward during former
medium-term target period
3%

Expenditure

Facilities improvement
expenses
17%
Industry-university
collaboration researchexpenses anddonation project
expenses, etc.
11%

Education andresearch expenses(including general andadministrative
expenses)
63%

Subsidies, etc.
9%

-10-

Outline of Financial Statements■Earnings Statement(Unit: million yen)

Item

BudgetamountSettlement
amountIncrease/decrease

Government subsidies for management
expenses

2,141

2,157

16

652

652

-

-

364

364

468

389

-79

Income from tuition fees, admission fees,
and application fees

236

203

-33

Miscellaneous income

232

186

-46

Income from industry-university
collaboration research, and income fromdonations, etc.

388

782

394

Reversal amount of reserve carried forward
during former medium-term target period

155

121

-34

Total

3,804

4,466

662

2,764

2,460

-304

652

652

-

-

353

353

Industry-university collaboration researchexpenses and donation project expenses,
etc.

388

424

36

Total

3,804

3,889

85

[Income]Facilities improvement subsidies
Income from subsidies, etc.
Self-income

Increase due to gaining a project
covered by the government subsidy

Decrease due to factors such as thatthe amount received as the amountequivalent to indirect expenses(including subsidies for scientificresearch and other expenses) fell
short of the estimate

Increase due to efforts for increasing
contracted research and donations[Expenditure]
Operating expenses
Education and research expenses
Facilities improvement expenses
Subsidies, etc.

Decrease due to reduction of generaland administration expenses

Increase due to gaining a project
covered by the government subsidy

Decrease due to the progress of
research, etc.

* Total amounts and other amounts may differ due to rounding up to the nearest unit.

-11-Financial Information on Management■Analysis Using Financial Indicators

Financial analysis
Financial analysis is a way to evaluate and assess the management of national university corporations by preparing
numerical indicators using data including financial statements for stakeholders of national university corporations to gain
necessary information for decision making concerning such national university corporations.

Financial indicators used for financial analysis are roughly classified as follows.

Soundness/
Stability

Is the financial soundness for providing continuous andstable education and research secured? (“Current ratio”)

Efficiency

Is the management efficiently conducted?
(“Personnel expenses ratio” and “General and administrative
expenses ratio”)

Are the education and research activities conducted at an
appropriate level?
Activity“Ratio of operating expenses to research expenses,” “Ratio of operating expenses to
education expenses,” “Ratio of operating expenses to expenses for education andresearch support,” “Research expenses per faculty” and “Education expenses perstudent”

Expansivity

Are the financial resources as a university stable by securing
various funds (external funds)? (“External funds ratio”)

Profitability

Are the revenues that match the expenses secured?
(“Ordinary income ratio”)-12-Financial Information on Management

Financial Indicators between Fiscal 2010 and Fiscal 2016
Fiscal year
2010

2011

2012

2013

2014

2015

2016

Financial indicator
1. Current ratio(current assets ÷current liabilities)

2. Personnel expenses ratio(personnel expenses ÷operating expenses)

92.9%

107.5%

116.8%

123.5%

125.5%

123.2%

114.4%

59.9%

58.1%

58.4%

54.6%

57.6%

55.6%

64.2%

12.4%

14.4%

12.9%

11.0%

13.4%

11.1%

10.0%

9.2%

10.8%

11.2%

13.8%

16.3%

14.1%

13.3%

3,124

3,128

3,460

4,314

5,617

4,830

4,253

10.7%

10.9%

11.5%

10.7%

7.5%

7.5%

5.8%

645

583

663

645

519

586

408

9.1%

10.2%

10.3%

9.7%

8.5%

11.2%

6.4%

12.4%

11.2%

9.0%

11.7%

10.9%

13.3%

13.9%

2.3%

7.4%

4.0%

3.3%

0.8%

- 4.0%*1- 1.8%*2

3. General and administrative expenses ratio(general and administrative expenses ÷operating
expenses)

4. Ratio of operating expenses to researchexpenses(research expenses ÷operating expenses)

5. Research expenses per faculty(research expenses ÷number of faculty)(in thousand yen)

6. Ratio of operating expenses to education
expenses(education expenses ÷operating expenses)

7. Education expenses per student(education expenses ÷number of students)(in thousand yen)

8. Ratio of operating expenses to expenses foreducation and research support(expenses for education and research support÷operating expenses)

9. External funds ratio ((revenues from contracted
research, etc. ＋ revenues from contracted
projects, etc. ＋ revenues from donations)÷ordinary revenues)

10. Ordinary income ratio(ordinary income ÷ ordinary revenues)(Legend)Better than the previous year (an increase in points from the previous year that is desirable in terms of the financial indicators)
Better than the previous year (a decrease in points from the previous year that is desirable in terms of the financial indicators)
Worse than the previous year (an increase in points from the previous year that is not desirable in terms of the financial indicators)

Worse than the previous year (a decrease in points from the previous year that is not desirable in terms of the financial indicators)*1*2

In fiscal 2015, GRIPS implemented projects intensively using the accumulated reserve for specific purposes; however, the profit from reversal of reserve for specificpurposes, which provides the fund for such projects, was not included in ordinary revenues and the ratio turned out to be negative. The ratio of ordinary revenue tothe net profit for the current fiscal year, including the reversal of reserve for specific purposes (98 million), is 2.9%.
In fiscal 2016, GRIPS implemented the business based on the reserve carried forward during the former medium-term target period; however, the profit fromreversal of such reserve carried forward during the former medium-term target period, which provides the fund for such business, was not included in the ordinary
revenues and the ratio turned out to be negative. The ratio of ordinary revenue to the net profit for the current fiscal year, including the profit from reversal ofsuch reserve carried forward during the former medium-term target period (62 million), is 1.9%.

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[Contact] Administration and Budget Team
Finance Division
Administrative Bureau
TEL 03-6439-6024
FAX 03-6439-6030
URL http://www.grips.ac.jp