Balance Sheet Kanamoto Co.,Ltd.

Equities

9678

JP3215200001

Business Support Services

Market Closed - Japan Exchange Other stock markets 06:30:00 16/01/2026 GMT			5-day change	1st Jan Change
4,050.00 ^JPY	+0.75%		+1.63%	+3.45%

12-17	SAXA, Inc. proposed to acquire Newtech Co.,Ltd. from a group of shareholders for ¥5.2 billion.	CI
12-05	Kanamoto's Attributable Profit Rises 22% in Fiscal Year Ended Oct. 31	MT

97d423f9060f7f5be62.Mtew7EPM_ZE9NvN81izgNyLlZrQNeUTn49yyZcqaZrA.dK_VqCv5xN1wXKwUrE6vf0OwJNVcNgffqoXnP7yiB_pEmMG-Lb6a-U5gkA

Published financial data: KANAMOTO CO.,LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: October	2020	2021	2022	2023	2024
Revenues	179B	189B	188B	197B	207B
Total Revenues	179B	189B	188B	197B	207B
Cost of Goods Sold, Total	128B	134B	132B	141B	147B
Gross Profit	51.13B	55.6B	55.83B	56.85B	60.23B
Selling General & Admin Expenses, Total	34.34B	37.52B	39.05B	41.14B	41.85B
Provision for Bad Debts	332M	82M	127M	-9M	-4M
Depreciation & Amortization - (IS)	2.34B	2.71B	2.79B	3.04B	3.11B
Amortization of Goodwill and Intangible Assets - (IS)	176M	648M	615M	638M	649M
Other Operating Expenses, Total	37.19B	40.95B	42.58B	44.81B	45.6B
Operating Income	13.94B	14.65B	13.25B	12.04B	14.63B
Interest Expense, Total	-82M	-102M	-102M	-127M	-171M
Interest And Investment Income	214M	205M	242M	281M	347M
Net Interest Expenses	132M	103M	140M	154M	176M
Currency Exchange Gains (Loss)	-75M	97M	262M	111M	222M
Other Non Operating Income (Expenses)	270M	540M	127M	179M	192M
EBT, Excl. Unusual Items	14.27B	15.39B	13.78B	12.49B	15.22B
Gain (Loss) On Sale Of Investments	-359M	-407M	-37M	215M	1M
Gain (Loss) On Sale Of Assets	-189M	-254M	-203M	-410M	-172M
Asset Writedown	-	-	-	-195M	-88M
Other Unusual Items	11M	17M	34M	9M	41M
EBT, Incl. Unusual Items	13.73B	14.75B	13.57B	12.1B	15B
Income Tax Expense	4.4B	4.95B	4.52B	4.66B	5.26B
Earnings From Continuing Operations	9.33B	9.79B	9.06B	7.44B	9.74B
Net Income to Company	9.33B	9.79B	9.06B	7.44B	9.74B
Minority Interest	-860M	-885M	-711M	-720M	-725M
Net Income - (IS)	8.47B	8.91B	8.34B	6.72B	9.01B
Net Income to Common Incl Extra Items	8.47B	8.91B	8.34B	6.72B	9.01B
Net Income to Common Excl. Extra Items	8.47B	8.91B	8.34B	6.72B	9.01B
Per Share Items
Net EPS - Basic	221.43	235.55	224.64	185.39	253.7
Basic EPS - Continuing Operations	221.43	235.55	224.64	185.39	253.7
Basic Weighted Average Shares Outstanding	38.23M	37.81M	37.15M	36.25M	35.53M
Net EPS - Diluted	221.43	235.55	224.64	185.39	253.7
Diluted EPS - Continuing Operations	221.43	235.55	224.64	185.39	253.7
Diluted Weighted Average Shares Outstanding	38.23M	37.81M	37.15M	36.25M	35.53M
Normalized Basic EPS	210.72	230.97	212.7	195.39	247.32
Normalized Diluted EPS	210.72	230.97	212.7	195.39	247.32
Dividend Per Share	65	70	75	75	75
Payout Ratio	29.58	27.55	35.87	40.75	29.7
Supplemental Items
EBITDA	43.01B	46.36B	45.78B	46.93B	50.9B
EBITA	14.12B	15.3B	13.87B	12.68B	15.28B
EBIT	13.94B	14.65B	13.25B	12.04B	14.63B
EBITDAR	46.87B	50.5B	49.89B	51.3B	55.35B
Effective Tax Rate - (Ratio)	32.07	33.6	33.28	38.53	35.08
Normalized Net Income	8.06B	8.73B	7.9B	7.08B	8.79B
Non-Cash Pension Expense	6M	12M	10M	10M	11M
Supplemental Operating Expense Items
Net Rental Expense, Total	3.86B	4.14B	4.11B	4.37B	4.44B
Imputed Operating Lease Interest Expense	62.87M	68.87M	64.64M	80.14M	104M
Imputed Operating Lease Depreciation	3.8B	4.07B	4.05B	4.29B	4.34B

Fiscal Period: October	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	48.56B	56.09B	47.56B	45.61B	51.1B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	48.56B	56.09B	47.56B	45.61B	51.1B
Accounts Receivable, Total	47.39B	46.36B	46.19B	52.25B	53.84B
Total Receivables	47.39B	46.36B	46.19B	52.25B	53.84B
Inventory	22.5B	21.18B	20.21B	18.98B	18.36B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	2.5B	3.12B	4.1B	3.46B	3.38B
Total Current Assets	121B	127B	118B	120B	127B
Net Property Plant And Equipment	156B	156B	162B	174B	175B
Long-term Investments	11.91B	11.79B	11.22B	12.67B	13.77B
Goodwill	7.5B	4.11B	3.81B	3.16B	2.56B
Other Intangibles, Total	1.46B	2.79B	2.91B	2.62B	2.28B
Loans Receivable Long-Term	-	-	5.21B	1.7B	1.05B
Deferred Tax Assets Long-Term	2.38B	2.18B	2.37B	2.01B	1.45B
Other Long-Term Assets, Total	1M	1M	1M	1M	3M
Total Assets	300B	304B	305B	316B	323B
Liabilities
Accounts Payable, Total	37.98B	37.08B	33.71B	36.08B	33.73B
Accrued Expenses, Total	1.46B	1.55B	1.58B	1.68B	1.7B
Short-term Borrowings	1.04B	960M	980M	900M	720M
Current Portion of Long-Term Debt	12.99B	13.08B	13.91B	14.6B	21.33B
Current Portion of Leases	1.34B	1.27B	1.44B	1.64B	1.71B
Current Income Taxes Payable	27.89B	27.23B	26.81B	28.73B	28.75B
Other Current Liabilities	4.92B	6.07B	4.02B	3.99B	4.88B
Total Current Liabilities	87.61B	87.23B	82.46B	87.62B	92.82B
Long-Term Debt	30.11B	31.46B	34.66B	35.8B	32.4B
Long-Term Leases	2.86B	2.89B	3.18B	3.63B	3.71B
Pension & Other Post Retirement Benefits	498M	566M	374M	354M	352M
Deferred Tax Liability Non Current	221M	1.5B	2.1B	2.29B	1.89B
Other Non Current Liabilities	52.89B	45.19B	41.94B	43.08B	41.97B
Total Liabilities	174B	169B	165B	173B	173B
Common Stock, Total	17.83B	17.83B	17.83B	17.83B	17.83B
Additional Paid In Capital	19.32B	19.33B	19.33B	19.43B	19.55B
Retained Earnings	82.6B	89.05B	94.4B	97.84B	104B
Treasury Stock	-2.01B	-1.98B	-3.94B	-5.91B	-7.67B
Comprehensive Income and Other	1.35B	2.73B	4.34B	5.3B	6.13B
Total Common Equity	119B	127B	132B	134B	140B
Minority Interest	7.1B	7.96B	8.65B	9.18B	9.7B
Total Equity	126B	135B	141B	144B	150B
Total Liabilities And Equity	300B	304B	305B	316B	323B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	37.8M	37.82M	36.77M	36.06M	35.32M
ECS Total Common Shares Outstanding	37.8M	37.82M	36.94M	36.06M	35.44M
Book Value / Share	3.15K	3.36K	3.57K	3.73K	3.95K
Tangible Book Value	110B	120B	125B	129B	135B
Tangible Book Value Per Share	2.91K	3.17K	3.39K	3.57K	3.81K
Total Debt	48.33B	49.66B	54.18B	56.57B	59.87B
Net Debt	-237M	-6.44B	6.61B	10.96B	8.76B
Debt Equivalent of Unfunded Proj. Benefit Obligation	498M	565M	374M	354M	352M
Debt Equivalent Oper. Leases	30.86B	33.08B	32.91B	34.95B	35.56B
Minority Interest, Total (Incl. Fin. Div)	7.1B	7.96B	8.65B	9.18B	9.7B
Inventories - Raw Materials, Total	1.23B	1.38B	1.43B	1.57B	1.63B
Inventories - Work In Process, Total	148M	82M	-	-	-
Inventories - Finished Goods, Total	1.2B	1.67B	1.73B	1.44B	1.63B
Inventories - Others	19.92B	18.06B	17.05B	15.96B	15.1B
Full Time Employees	3.68K	3.79K	3.83K	3.91K	3.89K
Accumulated Allowance for Doubtful Accounts (Supple)	230M	269M	284M	269M	204M

Fiscal Period: October	2020	2021	2022	2023	2024
Net Income	13.73B	14.75B	13.57B	12.11B	15B
Depreciation & Amortization - CF	28.9B	31.06B	31.91B	34.25B	35.62B
Amortization of Goodwill and Intangible Assets - (CF)	176M	648M	615M	638M	649M
Depreciation & Amortization, Total	29.07B	31.71B	32.53B	34.89B	36.27B
(Gain) Loss From Sale Of Asset	188M	254M	202M	604M	259M
(Gain) Loss on Sale of Investments - (CF)	359M	326M	172M	-215M	-1M
Other Operating Activities, Total	-10.89B	-10.17B	-10.63B	-9.3B	-8.67B
Change In Accounts Receivable	51M	1.24B	520M	-5.46B	-1.49B
Change In Inventories	-558M	-513M	-15M	223M	-289M
Change In Accounts Payable	7.57B	649M	-1.63B	4.47B	-652M
Change in Other Net Operating Assets	1.18B	1.1B	-1.56B	638M	1.27B
Cash from Operations	40.7B	39.35B	33.16B	37.96B	41.7B
Capital Expenditure	-3.21B	-3.53B	-4.79B	-5.25B	-2.7B
Sale of Property, Plant, and Equipment	20M	95M	35M	80M	81M
Cash Acquisitions	-10.49B	-8M	-815M	-742M	-
Divestitures	-	22M	22M	16M	37M
Sale (Purchase) of Intangible assets	-341M	-550M	-471M	-331M	-189M
Investment in Marketable and Equity Securities, Total	16M	29M	-257M	334M	14M
Net (Increase) Decrease in Loans Originated / Sold - Investing	118M	349M	-5.05B	-617M	229M
Other Investing Activities, Total	-156M	218M	-	-185M	-203M
Cash from Investing	-14.04B	-3.37B	-11.33B	-6.7B	-2.73B
Short Term Debt Issued, Total	-	-	20M	-	-
Long-Term Debt Issued, Total	23.27B	14.98B	15.89B	14.2B	16.3B
Total Debt Issued	23.27B	14.98B	15.91B	14.2B	16.3B
Short Term Debt Repaid, Total	-85M	-75M	-	-80M	-180M
Long-Term Debt Repaid, Total	-12.42B	-14.46B	-14.71B	-15.51B	-16.62B
Total Debt Repaid	-12.51B	-14.53B	-14.71B	-15.59B	-16.8B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-2B	-	-2B	-2B	-2B
Common Dividends Paid	-2.5B	-2.45B	-2.99B	-2.74B	-2.68B
Common & Preferred Stock Dividends Paid	-2.5B	-2.45B	-2.99B	-2.74B	-2.68B
Other Financing Activities, Total	-28.46B	-26.79B	-27.11B	-27.87B	-28.35B
Cash from Financing	-22.2B	-28.79B	-30.89B	-34B	-33.53B
Foreign Exchange Rate Adjustments	16M	90M	276M	48M	55M
Miscellaneous Cash Flow Adjustments	38M	260M	279M	732M	-
Net Change in Cash	4.51B	7.53B	-8.51B	-1.95B	5.49B
Supplemental Items
Cash Interest Paid	548M	727M	704M	790M	1.04B
Cash Income Tax Paid (Refund)	6.77B	4.74B	4.98B	3.67B	4.44B
Levered Free Cash Flow	36.31B	38.14B	29.84B	36.92B	40.12B
Unlevered Free Cash Flow	36.36B	38.2B	29.91B	37B	40.23B
Change In Net Working Capital	-2.13B	-1.41B	5.64B	-165M	2.3B
Net Debt Issued / Repaid	10.76B	446M	1.21B	-1.39B	-500M

Fiscal Period: October	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.06	3.03	2.72	2.42	2.86
Return on Total Capital	5.3	5.1	4.37	3.81	4.46
Return On Equity %	7.52	7.5	6.57	5.23	6.64
Return on Common Equity	7.22	7.24	6.45	5.04	6.57
Margin Analysis
Gross Profit Margin %	28.55	29.36	29.69	28.79	29.07
SG&A Margin	19.18	19.81	20.77	20.83	20.2
EBITDA Margin %	24.02	24.48	24.35	23.77	24.56
EBITA Margin %	7.88	8.08	7.37	6.42	7.37
EBIT Margin %	7.78	7.73	7.05	6.1	7.06
Income From Continuing Operations Margin %	5.21	5.17	4.82	3.77	4.7
Net Income Margin %	4.73	4.7	4.44	3.4	4.35
Net Avail. For Common Margin %	4.73	4.7	4.44	3.4	4.35
Normalized Net Income Margin	4.5	4.61	4.2	3.59	4.24
Levered Free Cash Flow Margin	20.28	20.13	15.87	18.69	19.36
Unlevered Free Cash Flow Margin	20.31	20.17	15.91	18.73	19.41
Asset Turnover
Asset Turnover	0.63	0.63	0.62	0.64	0.65
Fixed Assets Turnover	1.2	1.21	1.18	1.18	1.19
Receivables Turnover (Average Receivables)	3.85	4.04	4.06	4.01	3.91
Inventory Turnover (Average Inventory)	6.1	6.13	6.39	7.18	7.87
Short Term Liquidity
Current Ratio	1.38	1.45	1.43	1.37	1.36
Quick Ratio	1.1	1.17	1.14	1.12	1.13
Operating Cash Flow to Current Liabilities	0.46	0.45	0.4	0.43	0.45
Days Sales Outstanding (Average Receivables)	95.13	90.32	89.83	90.98	93.69
Days Outstanding Inventory (Average Inventory)	59.97	59.58	57.13	50.85	46.49
Average Days Payable Outstanding	100.06	103.39	98.46	91.37	87.27
Cash Conversion Cycle (Average Days)	55.05	46.5	48.5	50.46	52.9
Long Term Solvency
Total Debt/Equity	38.3	36.81	38.53	39.37	39.99
Total Debt / Total Capital	27.69	26.9	27.81	28.25	28.57
LT Debt/Equity	26.12	25.46	26.91	27.44	24.12
Long-Term Debt / Total Capital	18.89	18.61	19.43	19.69	17.23
Total Liabilities / Total Assets	57.99	55.58	53.95	54.6	53.63
EBIT / Interest Expense	169.99	143.63	129.91	94.82	85.54
EBITDA / Interest Expense	524.52	454.53	448.8	369.54	297.67
(EBITDA - Capex) / Interest Expense	485.37	419.94	401.81	328.17	281.89
Total Debt / EBITDA	1.12	1.07	1.18	1.21	1.18
Net Debt / EBITDA	-0.01	-0.14	0.14	0.23	0.17
Total Debt / (EBITDA - Capex)	1.21	1.16	1.32	1.36	1.24
Net Debt / (EBITDA - Capex)	-0.01	-0.15	0.16	0.26	0.18
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-0.91	5.79	-0.73	5.03	4.93
Gross Profit, 1 Yr. Growth %	-3.4	8.75	0.41	1.83	5.94
EBITDA, 1 Yr. Growth %	-5.6	7.79	-1.26	2.52	8.46
EBITA, 1 Yr. Growth %	-21.58	8.38	-9.36	-8.55	20.48
EBIT, 1 Yr. Growth %	-21.94	5.1	-9.55	-9.12	21.47
Earnings From Cont. Operations, 1 Yr. Growth %	-23.6	5	-7.52	-17.83	30.87
Net Income, 1 Yr. Growth %	-25.93	5.21	-6.31	-19.46	34.1
Normalized Net Income, 1 Yr. Growth %	-24.32	8.41	-9.53	-10.35	24.03
Diluted EPS Before Extra, 1 Yr. Growth %	-25.01	6.37	-4.63	-17.47	36.85
Accounts Receivable, 1 Yr. Growth %	3.7	-2.18	-0.35	13.12	3.03
Inventory, 1 Yr. Growth %	15.9	-5.9	-4.58	-6.09	-3.26
Net Property, Plant and Equip., 1 Yr. Growth %	10.69	-0.02	3.58	7.57	0.63
Total Assets, 1 Yr. Growth %	12	1.13	0.52	3.64	2.03
Tangible Book Value, 1 Yr. Growth %	-3.24	9	4.32	2.77	5.02
Common Equity, 1 Yr. Growth %	3.1	6.6	3.94	1.92	4.1
Cash From Operations, 1 Yr. Growth %	3.97	-3.32	-15.74	14.48	9.84
Capital Expenditures, 1 Yr. Growth %	-16.66	9.87	35.86	9.62	-48.65
Levered Free Cash Flow, 1 Yr. Growth %	10.16	5.03	-21.74	23.7	8.68
Unlevered Free Cash Flow, 1 Yr. Growth %	10.14	5.06	-21.71	23.7	8.73
Dividend Per Share, 1 Yr. Growth %	0	7.69	7.14	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	3.18	2.38	2.48	2.11	4.98
Gross Profit, 2 Yr. CAGR %	0.16	2.5	4.5	1.12	3.86
EBITDA, 2 Yr. CAGR %	-0.38	0.88	3.17	0.61	5.45
EBITA, 2 Yr. CAGR %	-10.86	-7.81	-0.89	-8.96	4.96
EBIT, 2 Yr. CAGR %	-11.06	-9.42	-2.5	-9.34	5.07
Earnings From Cont. Operations, 2 Yr. CAGR %	-14.28	-10.44	-1.46	-12.83	3.7
Net Income, 2 Yr. CAGR %	-15.5	-11.72	-0.72	-13.13	3.93
Normalized Net Income, 2 Yr. CAGR %	-11.86	-9.42	-0.97	-9.94	5.45
Diluted EPS Before Extra, 2 Yr. CAGR %	-18.76	-10.69	0.72	-11.28	6.27
Accounts Receivable, 2 Yr. CAGR %	6.7	0.72	-1.27	6.17	7.96
Inventory, 2 Yr. CAGR %	18.15	4.44	-5.24	-5.34	-4.68
Net Property, Plant and Equip., 2 Yr. CAGR %	9.81	5.2	1.77	5.56	4.04
Total Assets, 2 Yr. CAGR %	11.5	6.43	0.82	2.07	2.83
Tangible Book Value, 2 Yr. CAGR %	8.19	2.7	6.64	3.55	3.89
Common Equity, 2 Yr. CAGR %	11.57	4.84	5.26	2.93	3
Cash From Operations, 2 Yr. CAGR %	7.19	0.26	-9.74	-1.78	12.14
Capital Expenditures, 2 Yr. CAGR %	-14.7	-4.31	22.18	22.03	-24.97
Levered Free Cash Flow, 2 Yr. CAGR %	11.85	7.57	-9.34	-1.61	15.94
Unlevered Free Cash Flow, 2 Yr. CAGR %	11.8	7.57	-9.31	-1.59	15.97
Dividend Per Share, 2 Yr. CAGR %	4.08	3.77	7.42	3.51	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.16	4.04	1.34	3.32	3.04
Gross Profit, 3 Yr. CAGR %	1.73	2.94	1.8	3.6	2.7
EBITDA, 3 Yr. CAGR %	1.39	2.27	0.16	2.95	3.16
EBITA, 3 Yr. CAGR %	-5.71	-4.86	-8.33	-3.51	-0.05
EBIT, 3 Yr. CAGR %	-5.84	-5.97	-9.47	-4.76	-0.05
Earnings From Cont. Operations, 3 Yr. CAGR %	-6.88	-8.28	-9.47	-7.25	-0.18
Net Income, 3 Yr. CAGR %	-7.64	-9.1	-9.95	-7.41	0.4
Normalized Net Income, 3 Yr. CAGR %	-6.76	-5.56	-9.46	-4.2	0.2
Diluted EPS Before Extra, 3 Yr. CAGR %	-10.03	-11.12	-8.71	-5.75	2.51
Accounts Receivable, 3 Yr. CAGR %	5.51	3.66	0.36	3.31	5.11
Inventory, 3 Yr. CAGR %	19.88	9.52	1.34	-5.52	-4.65
Net Property, Plant and Equip., 3 Yr. CAGR %	7.91	6.43	4.66	3.67	3.89
Total Assets, 3 Yr. CAGR %	9.7	7.93	4.42	1.75	2.05
Tangible Book Value, 3 Yr. CAGR %	9.17	8.46	3.24	5.33	4.03
Common Equity, 3 Yr. CAGR %	11.36	9.89	4.54	4.14	3.32
Cash From Operations, 3 Yr. CAGR %	2.51	3.57	-5.38	-2.3	1.95
Capital Expenditures, 3 Yr. CAGR %	5.55	-7.19	7.55	17.84	-8.55
Levered Free Cash Flow, 3 Yr. CAGR %	3.54	9.53	-3.26	0.55	1.7
Unlevered Free Cash Flow, 3 Yr. CAGR %	3.46	9.51	-3.24	0.58	1.74
Dividend Per Share, 3 Yr. CAGR %	-	5.27	4.89	4.89	2.33
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	6.08	5.51	3.49	3.26	2.78
Gross Profit, 5 Yr. CAGR %	4.31	5	2.83	2.21	2.62
EBITDA, 5 Yr. CAGR %	3.3	4.41	2.1	1.6	2.24
EBITA, 5 Yr. CAGR %	-2.82	0.04	-3.81	-6.52	-3.23
EBIT, 5 Yr. CAGR %	-3.05	-0.71	-4.52	-7.33	-3.91
Earnings From Cont. Operations, 5 Yr. CAGR %	-1.09	2.65	-4.75	-10.13	-4.42
Net Income, 5 Yr. CAGR %	-2.4	1.92	-4.93	-10.73	-4.64
Normalized Net Income, 5 Yr. CAGR %	-3.86	0.52	-4.48	-7.34	-3.77
Diluted EPS Before Extra, 5 Yr. CAGR %	-3.62	0.55	-5.87	-11.19	-2.99
Accounts Receivable, 5 Yr. CAGR %	5.33	3.24	2.75	4.66	3.33
Inventory, 5 Yr. CAGR %	19.7	13.31	9.12	3.31	-1.11
Net Property, Plant and Equip., 5 Yr. CAGR %	6.98	4.59	5.41	6.08	4.41
Total Assets, 5 Yr. CAGR %	8.16	6.58	6.06	5.55	3.78
Tangible Book Value, 5 Yr. CAGR %	9.72	9.75	8.15	6.47	3.5
Common Equity, 5 Yr. CAGR %	11.34	10.61	8.88	7.05	3.92
Cash From Operations, 5 Yr. CAGR %	3.97	8.13	-2.58	1.39	1.27
Capital Expenditures, 5 Yr. CAGR %	-4.83	5.27	11.91	3.55	-6.88
Levered Free Cash Flow, 5 Yr. CAGR %	4.94	11.88	-1.82	4.93	4.01
Unlevered Free Cash Flow, 5 Yr. CAGR %	4.75	11.75	-1.85	4.93	4.03
Dividend Per Share, 5 Yr. CAGR %	13.18	9.24	-	4.56	2.9