Balance Sheet Kato Sangyo Co., Ltd.

Equities

9869

JP3213300001

Food Retail & Distribution

Delayed Japan Exchange Other stock markets 02:30:00 2026-05-19 am EDT			5-day change	1st Jan Change
6,100.00 ^JPY	+1.67%		+2.87%	-4.84%

Apr. 06	Kato Sangyo Co., Ltd. Announces Resignation of Keisuke Hibi as Director, Effective April 6, 2026	CI
Apr. 03	Tranche Update on Kato Sangyo Co., Ltd.'s Equity Buyback Plan announced on May 9, 2025.	CI

7e675deb433000227b9.kmWpoT1ar2V2JDVU1zke_JtO_BY7nh8kAt351Z4GTB0.ph-fwGIv6Cw8aAMnu1JNsa4BznRSp2p7M5C7h81CBV_1VJ_MThztOk5nDQ

Published financial data: KATO SANGYO CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: September	2021	2022	2023	2024	2025
Revenues	1,137B	1,003B	1,066B	1,136B	1,179B
Other Revenues, Total	-	32.44B	33.32B	34.06B	35.5B
Total Revenues	1,137B	1,036B	1,099B	1,170B	1,214B
Cost of Goods Sold, Total	1,063B	964B	1,021B	1,086B	1,126B
Gross Profit	74.32B	71.74B	78.03B	83.42B	88.2B
Selling General & Admin Expenses, Total	59.11B	55.27B	58.02B	63.02B	66.14B
Provision for Bad Debts	28M	-55M	34M	23M	88M
Depreciation & Amortization - (IS)	3.6B	3.19B	3.26B	3.54B	3.79B
Other Operating Expenses, Total	62.73B	58.4B	61.32B	66.58B	70.02B
Operating Income	11.59B	13.34B	16.71B	16.84B	18.18B
Interest Expense, Total	-109M	-143M	-224M	-305M	-274M
Interest And Investment Income	981M	1.09B	1.15B	1.22B	1.23B
Net Interest Expenses	872M	944M	925M	919M	955M
Income (Loss) On Equity Invest.	73M	80M	62M	80M	45M
Currency Exchange Gains (Loss)	40M	56M	18M	-13M	-19M
Other Non Operating Income (Expenses)	706M	966M	784M	870M	942M
EBT, Excl. Unusual Items	13.28B	15.39B	18.5B	18.7B	20.1B
Gain (Loss) On Sale Of Investments	-204M	77M	316M	5.58B	635M
Gain (Loss) On Sale Of Assets	20M	1.89B	36M	229M	51M
Asset Writedown	-238M	-85M	-41M	-1.1B	-122M
Other Unusual Items	37M	-20M	-3M	-60M	4M
EBT, Incl. Unusual Items	12.9B	17.25B	18.81B	23.35B	20.67B
Income Tax Expense	4.21B	5.46B	5.9B	7.85B	6.56B
Earnings From Continuing Operations	8.68B	11.79B	12.91B	15.49B	14.11B
Net Income to Company	8.68B	11.79B	12.91B	15.49B	14.11B
Minority Interest	-298M	-511M	-904M	-1.03B	-883M
Net Income - (IS)	8.38B	11.28B	12B	14.46B	13.23B
Net Income to Common Incl Extra Items	8.38B	11.28B	12B	14.46B	13.23B
Net Income to Common Excl. Extra Items	8.38B	11.28B	12B	14.46B	13.23B
Per Share Items
Net EPS - Basic	238.29	329.94	356.94	453.05	425.69
Basic EPS - Continuing Operations	238.29	329.94	356.94	453.05	425.69
Basic Weighted Average Shares Outstanding	35.19M	34.18M	33.62M	31.92M	31.07M
Net EPS - Diluted	238.29	329.94	356.94	453.05	425.69
Diluted EPS - Continuing Operations	238.29	329.94	356.94	453.05	425.69
Diluted Weighted Average Shares Outstanding	35.19M	34.18M	33.62M	31.92M	31.07M
Normalized Basic EPS	227.41	266.42	316.98	333.78	375.86
Normalized Diluted EPS	227.41	266.42	316.98	333.78	375.86
Dividend Per Share	72	76	94	117	140
Payout Ratio	29.33	22.74	25.77	23.47	31.8
Supplemental Items
EBITDA	16.35B	18.27B	21.65B	22.76B	24.41B
EBITA	11.98B	13.74B	17.06B	17.3B	18.63B
EBIT	11.59B	13.34B	16.71B	16.84B	18.18B
EBITDAR	22.01B	21.44B	24.89B	26B	27.69B
Effective Tax Rate - (Ratio)	32.66	31.66	31.38	33.64	31.73
Normalized Net Income	8B	9.11B	10.66B	10.65B	11.68B
Non-Cash Pension Expense	-211M	-271M	-200M	-130M	-198M
Supplemental Operating Expense Items
Selling and Marketing Expenses	28.1B	27.28B	28.28B	30.52B	31.88B
General and Administrative Expenses	387M	357M	400M	460M	478M
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	5.66B	3.17B	3.24B	3.24B	3.28B
Imputed Operating Lease Interest Expense	338M	239M	386M	528M	513M
Imputed Operating Lease Depreciation	5.32B	2.93B	2.85B	2.71B	2.77B

Fiscal Period: September	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	82.27B	83.42B	85.04B	90.84B	71.26B
Short Term Investments	-	500M	-	500M	1B
Total Cash And Short Term Investments	82.27B	83.92B	85.04B	91.34B	72.26B
Accounts Receivable, Total	137B	150B	185B	169B	177B
Total Receivables	137B	150B	185B	169B	177B
Inventory	27.4B	29.54B	33.64B	37.32B	40.29B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	8.98B	7.66B	7.92B	8.08B	8.26B
Total Current Assets	256B	272B	311B	306B	298B
Net Property Plant And Equipment	48.09B	47.34B	50.62B	55.49B	63.94B
Long-term Investments	73.71B	75.57B	83.21B	86.04B	96.24B
Goodwill	943M	673M	1.46B	1.62B	1.09B
Other Intangibles, Total	5.57B	5.1B	5.82B	5.66B	6.94B
Deferred Tax Assets Long-Term	277M	483M	375M	343M	278M
Other Long-Term Assets, Total	1M	2M	2M	-	1M
Total Assets	384B	401B	453B	455B	466B
Liabilities
Accounts Payable, Total	203B	212B	247B	238B	237B
Accrued Expenses, Total	1.81B	1.75B	1.78B	1.98B	2.09B
Short-term Borrowings	3.69B	4.23B	5.65B	4.9B	4.52B
Current Portion of Long-Term Debt	31M	-	-	198M	93M
Current Portion of Leases	1.38B	1.3B	1.3B	1.44B	1.59B
Current Income Taxes Payable	12.4B	15.67B	14.89B	17.74B	14.29B
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	980M	1.97B	2.07B	1.7B	1.72B
Total Current Liabilities	223B	237B	272B	266B	261B
Long-Term Debt	136M	-	-	273M	211M
Long-Term Leases	10.22B	9.25B	8.37B	7.81B	7B
Pension & Other Post Retirement Benefits	5.74B	5.78B	5.9B	5.79B	5.39B
Deferred Tax Liability Non Current	6.38B	5.39B	7.72B	8.97B	12.6B
Other Non Current Liabilities	2.81B	2.95B	2.92B	3.06B	2.98B
Total Liabilities	249B	261B	297B	292B	289B
Common Stock, Total	5.93B	5.93B	5.93B	5.93B	5.93B
Additional Paid In Capital	8.76B	8.53B	8.55B	8.43B	8.43B
Retained Earnings	108B	116B	116B	127B	136B
Treasury Stock	-9.7B	-12.71B	-3.86B	-12.95B	-14.94B
Comprehensive Income and Other	17.53B	16.98B	22.65B	26.99B	33.22B
Total Common Equity	130B	135B	150B	156B	169B
Minority Interest	5.36B	5.06B	5.99B	7.14B	7.99B
Total Equity	136B	140B	156B	163B	177B
Total Liabilities And Equity	384B	401B	453B	455B	466B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	34.65M	33.63M	33.62M	31.16M	30.8M
ECS Total Common Shares Outstanding	34.65M	33.63M	33.62M	31.16M	30.8M
Book Value / Share	3.76K	4.02K	4.45K	5K	5.49K
Tangible Book Value	124B	129B	142B	148B	161B
Tangible Book Value Per Share	3.57K	3.85K	4.24K	4.76K	5.23K
Total Debt	15.46B	14.78B	15.32B	14.62B	13.41B
Net Debt	-66.81B	-69.14B	-69.72B	-76.71B	-58.85B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.92B	3.07B	2.62B	1.6B	-280M
Debt Equivalent Oper. Leases	45.3B	25.33B	25.92B	25.9B	26.26B
Minority Interest, Total (Incl. Fin. Div)	5.36B	5.06B	5.99B	7.14B	7.99B
Inventories - Raw Materials, Total	248M	273M	352M	507M	533M
Inventories - Work In Process, Total	3M	3M	4M	-	14M
Inventories - Finished Goods, Total	27.15B	29.26B	33.29B	36.81B	39.75B
Full Time Employees	4.28K	4.21K	4.33K	4.41K	4.1K
Accumulated Allowance for Doubtful Accounts (Supple)	686M	620M	637M	620M	656M

Fiscal Period: September	2021	2022	2023	2024	2025
Net Income	12.9B	17.25B	18.81B	23.35B	20.67B
Depreciation & Amortization - CF	4.36B	4.54B	4.6B	5.46B	5.78B
Amortization of Goodwill and Intangible Assets - (CF)	393M	396M	344M	464M	456M
Depreciation & Amortization, Total	4.76B	4.93B	4.94B	5.92B	6.23B
(Gain) Loss From Sale Of Asset	217M	-1.8B	-1M	863M	15M
(Gain) Loss on Sale of Investments - (CF)	204M	-77M	-316M	-5.58B	-635M
(Income) Loss On Equity Investments - (CF)	-73M	-80M	-62M	-80M	-45M
Other Operating Activities, Total	-4.61B	-4.2B	-6.1B	-6.06B	-8.9B
Change In Accounts Receivable	-4.55B	-9.82B	-33.86B	18.49B	-8.45B
Change In Inventories	-1.77B	-1.42B	-3.6B	-2.05B	-3.2B
Change In Accounts Payable	6.5B	9.07B	34.03B	-9.75B	-1.04B
Change in Other Net Operating Assets	684M	1.24B	832M	773M	-581M
Cash from Operations	14.26B	15.08B	14.68B	25.87B	4.07B
Capital Expenditure	-5.12B	-3.6B	-5.86B	-6.97B	-11.92B
Sale of Property, Plant, and Equipment	110M	606M	-6M	-87M	14M
Cash Acquisitions	-1.67B	-	-671M	-2.2B	-273M
Sale (Purchase) of Intangible assets	-1.87B	-1.33B	-2.49B	-1.64B	-3.24B
Investment in Marketable and Equity Securities, Total	-848M	-3.81B	54M	6.93B	381M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-20M	-12M	-131M	48M	116M
Other Investing Activities, Total	61M	1.89B	99M	230M	38M
Cash from Investing	-9.36B	-6.27B	-9B	-3.69B	-14.88B
Short Term Debt Issued, Total	36M	-	170M	-	-
Long-Term Debt Issued, Total	-	-	-	407M	-
Total Debt Issued	36M	-	170M	407M	-
Short Term Debt Repaid, Total	-	-70M	-	-1.38B	-283M
Long-Term Debt Repaid, Total	-99M	-175M	-	-158M	-162M
Total Debt Repaid	-99M	-245M	-	-1.54B	-445M
Repurchase of Common Stock	-3.17B	-3.02B	-	-9.13B	-2B
Common Dividends Paid	-2.46B	-2.56B	-3.09B	-3.39B	-4.21B
Common & Preferred Stock Dividends Paid	-2.46B	-2.56B	-3.09B	-3.39B	-4.21B
Other Financing Activities, Total	-1.45B	-2.38B	-1.54B	-2B	-1.75B
Cash from Financing	-7.14B	-8.21B	-4.46B	-15.65B	-8.41B
Foreign Exchange Rate Adjustments	103M	302M	67M	194M	-120M
Miscellaneous Cash Flow Adjustments	1M	-1M	-1M	61M	-
Net Change in Cash	-2.14B	902M	1.28B	6.78B	-19.33B
Supplemental Items
Cash Interest Paid	109M	143M	224M	305M	274M
Cash Income Tax Paid (Refund)	4.62B	4.21B	6.13B	5.98B	9B
Levered Free Cash Flow	2.09B	7.33B	1.87B	13.86B	-13.57B
Unlevered Free Cash Flow	2.16B	7.41B	2.01B	14.05B	-13.4B
Change In Net Working Capital	2.85B	916M	5.02B	-6.22B	15.84B
Net Debt Issued / Repaid	-63M	-245M	170M	-1.13B	-445M

Fiscal Period: September	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.92	2.12	2.45	2.32	2.47
Return on Total Capital	4.92	5.45	6.41	6.04	6.18
Return On Equity %	6.55	8.55	8.72	9.73	8.3
Return on Common Equity	6.58	8.5	8.43	9.47	8.15
Margin Analysis
Gross Profit Margin %	6.54	6.93	7.1	7.13	7.26
SG&A Margin	5.2	5.34	5.28	5.39	5.45
EBITDA Margin %	1.44	1.76	1.97	1.95	2.01
EBITA Margin %	1.05	1.33	1.55	1.48	1.53
EBIT Margin %	1.02	1.29	1.52	1.44	1.5
Income From Continuing Operations Margin %	0.76	1.14	1.17	1.32	1.16
Net Income Margin %	0.74	1.09	1.09	1.24	1.09
Net Avail. For Common Margin %	0.74	1.09	1.09	1.24	1.09
Normalized Net Income Margin	0.7	0.88	0.97	0.91	0.96
Levered Free Cash Flow Margin	0.18	0.71	0.17	1.18	-1.12
Unlevered Free Cash Flow Margin	0.19	0.72	0.18	1.2	-1.1
Asset Turnover
Asset Turnover	3.02	2.64	2.58	2.58	2.64
Fixed Assets Turnover	24.8	21.7	22.45	22.05	20.33
Receivables Turnover (Average Receivables)	8.51	6.98	6.36	6.42	6.82
Inventory Turnover (Average Inventory)	40.81	33.86	32.33	30.62	29.02
Short Term Liquidity
Current Ratio	1.14	1.14	1.14	1.15	1.14
Quick Ratio	0.98	0.99	0.99	0.98	0.95
Operating Cash Flow to Current Liabilities	0.06	0.06	0.05	0.1	0.02
Days Sales Outstanding (Average Receivables)	42.91	52.27	57.39	56.97	53.54
Days Outstanding Inventory (Average Inventory)	8.94	10.78	11.29	11.95	12.58
Average Days Payable Outstanding	68.36	78.45	81.66	81.34	76.75
Cash Conversion Cycle (Average Days)	-16.51	-15.4	-12.98	-12.42	-10.63
Long Term Solvency
Total Debt/Equity	11.41	10.55	9.84	8.98	7.57
Total Debt / Total Capital	10.24	9.54	8.96	8.24	7.04
LT Debt/Equity	7.64	6.6	5.38	4.96	4.07
Long-Term Debt / Total Capital	6.86	5.97	4.9	4.56	3.78
Total Liabilities / Total Assets	64.71	65.02	65.62	64.18	62.04
EBIT / Interest Expense	106.32	93.29	74.6	55.22	66.34
EBITDA / Interest Expense	149.97	127.77	96.67	74.64	89.08
(EBITDA - Capex) / Interest Expense	102.99	102.56	70.5	51.77	45.59
Total Debt / EBITDA	0.95	0.81	0.71	0.64	0.55
Net Debt / EBITDA	-4.09	-3.78	-3.22	-3.37	-2.41
Total Debt / (EBITDA - Capex)	1.38	1.01	0.97	0.93	1.07
Net Debt / (EBITDA - Capex)	-5.95	-4.71	-4.41	-4.86	-4.71
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	2.93	-8.92	6.15	6.41	3.8
Gross Profit, 1 Yr. Growth %	1.35	-3.47	8.76	6.91	5.73
EBITDA, 1 Yr. Growth %	2.64	11.77	18.52	5.13	7.22
EBITA, 1 Yr. Growth %	-0.17	14.64	24.16	1.47	7.67
EBIT, 1 Yr. Growth %	0.13	15.11	25.27	0.78	7.93
Earnings From Cont. Operations, 1 Yr. Growth %	-7.27	35.75	9.49	20.04	-8.91
Net Income, 1 Yr. Growth %	-7.36	34.48	6.44	20.47	-8.51
Normalized Net Income, 1 Yr. Growth %	0.76	13.79	17.06	-0.06	9.64
Diluted EPS Before Extra, 1 Yr. Growth %	-6.14	38.46	8.18	26.93	-6.04
Accounts Receivable, 1 Yr. Growth %	4.89	9.97	22.77	-8.64	4.88
Inventory, 1 Yr. Growth %	11.01	7.8	13.9	10.92	7.98
Net Property, Plant and Equip., 1 Yr. Growth %	10.24	-1.56	6.92	9.63	15.22
Total Assets, 1 Yr. Growth %	4.18	4.35	12.99	0.4	2.56
Tangible Book Value, 1 Yr. Growth %	4.01	4.59	10.11	4.21	8.46
Common Equity, 1 Yr. Growth %	4.41	3.79	10.8	4	8.55
Cash From Operations, 1 Yr. Growth %	-6.16	5.79	-2.68	76.22	-84.27
Capital Expenditures, 1 Yr. Growth %	76.59	-29.6	62.58	18.99	70.85
Levered Free Cash Flow, 1 Yr. Growth %	-73.18	250.32	-74.44	640.34	-197.91
Unlevered Free Cash Flow, 1 Yr. Growth %	-72.53	243.4	-72.86	598.31	-195.37
Dividend Per Share, 1 Yr. Growth %	9.09	5.56	23.68	24.47	19.66
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.42	-3.17	-1.67	6.28	5.09
Gross Profit, 2 Yr. CAGR %	2.44	-1.09	2.46	7.83	6.32
EBITDA, 2 Yr. CAGR %	3.19	7.11	15.09	11.62	6.17
EBITA, 2 Yr. CAGR %	1.68	6.98	19.31	12.24	4.52
EBIT, 2 Yr. CAGR %	3.52	7.36	20.08	12.36	4.29
Earnings From Cont. Operations, 2 Yr. CAGR %	6.12	12.19	21.92	14.64	4.56
Net Income, 2 Yr. CAGR %	8.37	11.62	19.64	13.24	4.98
Normalized Net Income, 2 Yr. CAGR %	5.1	7.07	15.41	8.16	4.68
Diluted EPS Before Extra, 2 Yr. CAGR %	9.46	14	22.39	17.18	9.21
Accounts Receivable, 2 Yr. CAGR %	2.87	7.4	16.19	5.91	-2.11
Inventory, 2 Yr. CAGR %	7.72	9.39	10.81	12.4	9.44
Net Property, Plant and Equip., 2 Yr. CAGR %	7.02	4.18	2.59	8.27	12.39
Total Assets, 2 Yr. CAGR %	4.22	4.26	8.58	6.51	1.48
Tangible Book Value, 2 Yr. CAGR %	5.85	4.3	7.31	7.12	6.32
Common Equity, 2 Yr. CAGR %	6.19	4.1	7.24	7.35	6.25
Cash From Operations, 2 Yr. CAGR %	-8.78	-0.36	1.47	30.96	-47.36
Capital Expenditures, 2 Yr. CAGR %	108.77	11.49	6.98	39.09	42.58
Levered Free Cash Flow, 2 Yr. CAGR %	-56.77	-3.08	-5.37	37.56	169.24
Unlevered Free Cash Flow, 2 Yr. CAGR %	-56.22	-2.88	-3.46	37.67	158.06
Dividend Per Share, 2 Yr. CAGR %	9.54	7.31	14.26	24.08	22.04
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.06	-0.87	-0.16	0.95	5.45
Gross Profit, 3 Yr. CAGR %	3.47	0.43	2.09	3.93	7.13
EBITDA, 3 Yr. CAGR %	3.17	5.97	10.78	11.67	10.13
EBITA, 3 Yr. CAGR %	2.51	5.83	12.43	13.04	10.7
EBIT, 3 Yr. CAGR %	4.61	7.25	13.02	13.27	10.86
Earnings From Cont. Operations, 3 Yr. CAGR %	4.75	15.19	11.29	21.29	6.18
Net Income, 3 Yr. CAGR %	6.18	16.45	9.86	19.92	5.47
Normalized Net Income, 3 Yr. CAGR %	6.31	7.92	10.3	10.01	8.65
Diluted EPS Before Extra, 3 Yr. CAGR %	7.57	18.38	12.03	23.88	8.86
Accounts Receivable, 3 Yr. CAGR %	-2.18	5.18	12.29	7.24	5.56
Inventory, 3 Yr. CAGR %	5.58	7.75	10.87	10.84	10.91
Net Property, Plant and Equip., 3 Yr. CAGR %	4.1	4.08	5.08	4.89	10.54
Total Assets, 3 Yr. CAGR %	2.04	4.26	7.1	5.78	5.18
Tangible Book Value, 3 Yr. CAGR %	3.29	5.43	6.2	6.27	7.57
Common Equity, 3 Yr. CAGR %	3.37	5.38	6.28	6.15	7.75
Cash From Operations, 3 Yr. CAGR %	9.84	-4.16	-1.14	21.97	-35.39
Capital Expenditures, 3 Yr. CAGR %	62.98	45.31	26.43	10.84	48.96
Levered Free Cash Flow, 3 Yr. CAGR %	-24.45	-13.17	-37.84	87.86	22.82
Unlevered Free Cash Flow, 3 Yr. CAGR %	-23.88	-13.02	-36.5	86.71	21.81
Dividend Per Share, 3 Yr. CAGR %	8.74	8.2	12.51	17.57	22.59
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.59	1.24	1.73	1.93	1.91
Gross Profit, 5 Yr. CAGR %	3.85	2.42	3.07	3.33	3.76
EBITDA, 5 Yr. CAGR %	5.46	5.47	7.78	8.2	8.91
EBITA, 5 Yr. CAGR %	6.97	6.24	8.92	8.35	9.2
EBIT, 5 Yr. CAGR %	7.85	7.48	10.55	9.26	9.45
Earnings From Cont. Operations, 5 Yr. CAGR %	10.38	10.42	11.31	14.97	8.55
Net Income, 5 Yr. CAGR %	10.01	10.67	11.37	15.16	7.88
Normalized Net Income, 5 Yr. CAGR %	7.57	8.26	9.86	8.02	8.02
Diluted EPS Before Extra, 5 Yr. CAGR %	11.13	12.21	13.27	17.9	10.89
Accounts Receivable, 5 Yr. CAGR %	4.31	1.99	4.79	5.47	6.29
Inventory, 5 Yr. CAGR %	5.84	6.4	7.64	9.58	10.3
Net Property, Plant and Equip., 5 Yr. CAGR %	1.13	1.4	3.49	5.74	7.95
Total Assets, 5 Yr. CAGR %	4.73	3.4	4.61	5.16	4.81
Tangible Book Value, 5 Yr. CAGR %	5.34	4.35	4.88	6.1	6.25
Common Equity, 5 Yr. CAGR %	5.01	4.15	4.9	6.16	6.27
Cash From Operations, 5 Yr. CAGR %	7.85	6.06	6.41	8.59	-23.17
Capital Expenditures, 5 Yr. CAGR %	9.74	21.3	37.72	42.79	32.66
Levered Free Cash Flow, 5 Yr. CAGR %	-16.16	-0.66	-17.33	4.37	11.72
Unlevered Free Cash Flow, 5 Yr. CAGR %	-15.74	-0.5	-16.29	4.52	11.26
Dividend Per Share, 5 Yr. CAGR %	9.37	9.63	10.91	14.29	16.23