Konica Minolta 1999 Annual Report Download - page 19

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KONICA 15
Six-Year Summary
KONICA CORPORATION AND CONSOLIDATED SUBSIDIARIES
For the fiscal years ended March 31
Millions of yen
1999 1998 1997 1996 1995 1994
For the Year:
Net sales.......................................................................................... ¥584,342 ¥584,402 ¥578,081 ¥505,349 ¥517,601 ¥492,947
Operating income............................................................................ 14,575 25,211 26,165 19,075 18,453 12,185
(Loss) income before provision for income taxes............................ (10,872) 15,984 16,205 9,530 8,214 5,007
Net (loss) income............................................................................. (3,166) 5,501 4,541 2,119 3,843 4,214
At Year-End:
Total assets ..................................................................................... ¥589,201 ¥629,063 ¥592,997 ¥552,009 ¥544,740 ¥531,570
Total shareholders’ equity ............................................................... 158,742 167,145 165,269 164,304 168,958 172,459
Interest-bearing debt....................................................................... 247,882 234,292 213,314 191,279 169,569 176,269
Per Share of Common Stock (Yen):
Net (loss) income............................................................................. ¥ (8.9) ¥ 15.4 ¥ 12.7 ¥ 5.9 ¥ 10.8 ¥ 11.8
Cash dividends applicable to earnings of the year ......................... 10.0 10.0 10.0 10.0 10.0 10.0
38.9%. As a result, operating income fell ¥10.6 billion, or 42.2%,
to ¥14.6 billion (US$119 million).
ROther expenses totaled ¥25.4 billion (US$209 million), com-
pared with ¥9.2 billion in the previous fiscal year. The high costs
associated with business restructuring activities were the primary
reason for this downturn. Consequently, Konica recorded a net
loss of ¥3.2 billion (US$26 million).
FINANCIAL POSITION
At March 31, 1999, total current assets stood at ¥349.2 billion
(US$2,863 million), down ¥43.6 billion, or 11.1%, from the previ-
ous fiscal year-end. This decline was due mainly to falls in trade
receivables of ¥10.0 billion and inventories of ¥20.3 billion, reflect-
ing lower sales activity and efforts to reduce inventory levels.
RNet property, plant and equipment increased ¥1.7 billion, or
1.0%, to ¥161.5 billion (US$1,324 million), while investments and
other assets advanced ¥8.1 billion, or 12.7%, to ¥71.5 billion
(US$586 million).
RTotal current liabilities fell ¥42.9 billion, or 13.2%, to
¥281.4 billion (US$2,306 million), primarily as a result of a
¥41.5 billion fall in trade payables, which declined amid the
slack economic environment, and an ¥8.8 billion decline in
short-term loans. Consequently, the current ratio increased
from 1.21 to 1.24.
RLong-term liabilities increased ¥20.2 billion, or 18.4%, to
¥130.0 billion (US$1,065 million).
RTotal shareholders’ equity fell ¥8.4 billion, to ¥158.7 billion
(US$1,301 million), mainly as a result of the use of monies in
the legal reserve. The shareholders’ equity ratio increased
from 26.6% to 26.9%.