Hyundai 2005 Annual Report Download - page 35

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68
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
1. GENERAL INFORMATION:
The Company
Hyundai Motor Company (the “Company”) was incorporated in December 1967, under the laws of the Republic of Korea, to
manufacture and distribute motor vehicles and parts. The shares of the Company have been listed on the Korea Stock Exchange
since 1974.
The Company has three domestic production plants as follows:
Location Commenced production Types of major products
Ulsan December 1967 Passenger cars, Commercial vehicles (Small trucks)
Jeonbuk Jeonju April 1995 Commercial vehicles (Bus and trucks)
Chungnam Ahsan November 1996 Passenger cars
As of December 31, 2005, 54.90 percent of the Company’s stock (excluding preferred stock) is owned by Korean investors,
including Hyundai MOBIS (14.56 percent) and Hyundai Steel (Formerly INI Steel, 5.29 percent), and the remaining 45.10 percent
is owned by foreign investors.
Consolidated Subsidiaries
The consolidated financial statements include the accounts of the Company and its consolidated domestic and foreign
subsidiaries over which the Company has substantial control and whose individual beginning balance of total assets or paid-in
capital at the date of its establishment is more than ￦7,000 million (US$6,910 thousand). The consolidated subsidiaries as of
December 31, 2005 are as follows:
Subsidiaries Business Korean Won(*) Translation into Shares (**) Percentage Indirect
(In millions) U.S. Dollars ownership (**) ownership (**)
(Note 2)
(In thousands)
Domestic subsidiaries:
Kia Motors Corporation (KIA) Manufacturing 4,960,285 4,896,629 148,004,181 42.62% HCS - 3.95%
Hyundai HYSCO ˝ 1,001,339 988,489 32,108,868 40.04% KIA - 13.91%
Hyundai Capital Service Financing
Inc. (HCS) service 864,871 853,772 56,083,743 56.12%
Hyundai Card Co., Ltd. ˝ 305,025 301,111 40,564,165 42.35% KIA - 11.31%
KEFICO Corporation Manufacturing 225,084 222,195 1,670,000 50.00%
Hyundai Powertech ˝ 296,700 292,892 48,000,000 100.00% KIA - 50.00%
WIA Corporation (WIA) ˝ 264,518 261,123 17,120,611 78.79% KIA - 39.33%
Dymos Inc. (DYMOS) ˝ 227,706 224,784 29,335,805 97.76% KIA - 45.37% &
WIA - 5.12%
Automobile Industrial Ace
Corporation ˝ (17,692) (17,465) 1,116,662 100.00% WIA -100%
ROTEM Manufacturing 304,592 300,683 40,306,304 78.36%
Haevichi Resort Real estate
development 18,897 18,654 2,015,000 65.00% KIA - 40% &
WIA - 25%
Bontek Co., Ltd. Manufacturing 89,456 88,308 397,210 39.72% KIA - 39.72%
Shareholders’ equity as of December 31, 2005
67
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
2005 2004 2005 2004
Effect of exchange rate on cash ￦(53,272) ￦(92,999) $(52,589) $(91,806)
Effect of change in consolidated subsidiaries 256,515 (15,194) 253,222 (14,999)
Net increase (decrease) in cash and cash equivalents 1,209,854 (1,575,498) 1,194,328 (1,555,280)
Cash and cash equivalents, beginning of year 3,187,954 4,763,452 3,147,042 4,702,322
Cash and cash equivalents, end of year
￦
4,397,808
￦
3,187,954 $4,341,370 $3,147,042
See accompanying notes to consolidated financial statements.
Korean Won
(In millions)
Translation into
U.S. Dollars (Note 2)
(In thousands)