Konica Minolta 2002 Annual Report Download
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Table of contents
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Page 1
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Page 2
...)
1.1% Others ¥6,150
Optics & EM Technologies ¥36,868
6.8% 35.5% Consumer Imaging ¥191,496
Office Documents ¥186,255
34.5%
22.0%
Medical & Graphic ¥118,802
CONSOLIDATED NET SALES ¥539,571
CONTENTS
CONSOLIDATED FINANCIAL HIGHLIGHTS 1 TO OUR SHAREHOLDERS 2 REVIEW OF OPERATIONS & OUTLOOK...
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Page 3
...report are translated from yen, for convenience only, at the rate of ¥133.20=US$1, the approximate exchange rate prevailing at March 31, 2002...'98
'99
'00
'01
'02
Net Sales
(Billions of yen)
Net Income (Loss)
(Billions of yen)
Net Income (Loss) per Share
(Yen)
Total Assets / Shareholders' ...
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Page 4
...SHIFT TOWARD DIGITAL FIELDS IN ITS BUSINESS FOCUS AS WELL AS WORKING TOWARD SPEEDY PRODUCT COMMERCIALIZATION AND FURTHER DEVELOPING ITS BUSINESS. THE COMPANY WILL ENHANCE ITS COMPETITIVENESS BY SPINNING OFF ALL OF ITS BUSINESS SEGMENTS INTO INDEPENDENT COMPANIES AND ESTABLISHING A HOLDING COMPANY IN...
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Page 5
... & Graphic Company reported a ¥2.0 billion decline in sales but registered a ¥1.5 billion increase in operating income. This segment handles medical and printinguse film and processing equipment. On the other hand, the Consumer Imaging Company, which carries out business in color film and printing...
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Page 6
..., under SAN Plan 2005, Konica will also focus on such basic goals as progressing with business portfolio management, strengthening and utilizing its core technologies, and implementing a system for separate companies for each business segment as well as a holding company. BUSINESS DOMAINS AND...
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Page 7
...the Central Research Laboratory, Ink Jet Technology Business Center, and the Intellectual Property
ORGANIZATION CHART (effective April 1, 2003)
HOLDING COMPANY
KONICA CONSUMER IMAGING CO., LTD.
CI CDI ID*1 IPS*2
KONICA MEDICAL & GRAPHIC CO., LTD.
KONICA OFFICE DOCUMENT CO., LTD.
KONICA OPTICS...
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Page 8
... of this holding company system, I continually envisioned a system that functions practically and yields results. A prerequisite for such a system is a corporate culture conducive to ensuring business can be carried out with the necessary authority and responsibility. Regarding this point, Konica is...
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Page 9
..., citizens of the local community, business partners, and our own employees. As I stated previously, until the Konica corporate culture fully develops, the best course of action is for the holding company to maintain constant authority over the new business companies. From this perspective, I am...
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Page 10
REVIEW OF OPERATIONS & OUTLOOK
8
Konica 2002
OPTICS & EM TECHNOLOGIES COMPANY
THE OPTICS & EM TECHNOLOGIES COMPANY, WHICH SUCCEEDS THE OPTICS TECHNOLOGY COMPANY AND ELECTRONIC MATERIALS DIVISION, WILL MANUFACTURE AND SELL OPTICS PRODUCTS & RELATED EQUIPMENT AND ELECTRONIC MATERIALS.
President ...
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Page 11
REVIEW OF OPERATIONS & OUTLOOK
9
Konica 2002
OFFICE DOCUMENT COMPANY
THE OFFICE DOCUMENT COMPANY, WILL MANUFACTURE AND SELL COPIERS AND COPIER SUPPLIES.
President Hirofumi Sakaguchi
During the fiscal year we achieved smooth progress in shifting our business away from regular copiers toward mid-...
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Page 12
... COMPANY, ID SYSTEMS DIVISION, AND CAMERAS & DIGITAL IMAGING DIVISION, WILL MANUFACTURE AND SELL CONSUMER & COMMERCIAL PHOTO-SENSITIZED MATERIALS AND EQUIPMENT.
President Hideaki Iwama
Konica integrated its color film, color paper, camera, and ID photo businesses into the Consumer Imaging Company...
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Page 13
..., mainly in Europe and the United States. We plan to shift our traditional businesses toward such growth regions as Asia and the Middle East to expand our medical imaging business and raise profitability. In our Graphic Imaging Business we will secure a larger share of the digital proof market by...
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Page 14
... securing new OEM products and upgrading our new product offerings by aggressively promoting the Konica brand. Second, in our printer business, we will strengthen internal tie-ups and develop high-speed, high-quality printers for our Consumer Imaging, Medical & Graphic, and Office Document Company...
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Page 15
...2002 2001 2000 1999 1998 1997
For the Year: Net sales Cost of sales Operating income Net income (loss) Depreciation and amortization Capital expenditure R&D expenses At Year-End: Total assets Total current assets Property, plant and equipment-net Total current liabilities Long-term...Â¥584,401 342,452...
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Page 16
... 320,671 145,153 98,300 77,218 54.9% ¥584,401
¥271,007 307,073 - - - 53.1% ¥578,080
Notes: 1. Domestic sales are sales to customers in Japan by the Company and its consolidated subsidiaries. 2. Export sales are sales to customers outside Japan by the Company and its consolidated subsidiaries.
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Page 17
... REGION (NOTE 1)
Millions of yen 2002 2001 2000 1999 1998 1997
Net sales: Japan Overseas: North America Europe Asia and other Consolidated Operating income: Japan Overseas: North America Europe Asia and other Total Eliminations and corporate Consolidated Assets: Japan Overseas: North America Europe...
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Page 18
...used for polarizing filters in LCDs. Although the Consumer Imaging Company strengthened its sales in Asia, it recorded a decrease in sales in industrialized countries because of the trend toward digitization and the effects of the terrorist attacks in the United States. The
graphic imaging business...
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Page 19
... sales prices and lower demand in such mature markets as Japan and the United States. The Medical & Graphic Company recorded steady growth in sales in its medical imaging business, which is experiencing rising demand for dry film and X-ray imaging systems for dry film.The graphic imaging business...
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Page 20
.... The Kofu Plant for digital medical film commenced operations in April 2002, and plans call for the Kobe Plant for TAC film for polarizing filters used in LCDs to go online after summer 2002. In investments and other assets, investment securities declined ¥3.7 billion due to the sale of marketable...
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Page 21
... of large-scale plants that included a plant in Kofu for digital medical film in our photographic materials segment and a new plant in Kobe for TAC film for polarizing filters used in LCDs. CASH FLOWS Net cash provided by operating activities in the year under review totaled ¥48.1 billion...
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Page 22
... depreciation Property, plant and equipment, net Investments and Other Assets: Investment securities (Note 5) Long-term loans Deferred tax assets (Note 8) Intangible assets Long-term prepaid expenses Other investments Other assets Less: Allowance for doubtful accounts Total investments and other...
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Page 23
21
Konica 2002
Millions of yen LIABILITIES AND SHAREHOLDERS' EQUITY 2002 2001
Thousands of U.S. dollars (Note 3) 2002
Current Liabilities: Short-term debt (Note 7) Current portion of long-term debt (Note 7) Notes and accounts payable-trade (Note 6) Accrued expenses Accrued income taxes (Note 8) ...
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Page 24
...2002 and 2001
22
Konica 2002
Millions of yen 2002 2001
Thousands of U.S. dollars (Note 3) 2002
Net Sales (Note 6) Cost of Sales (Note 6) Gross profit...loss) of unconsolidated subsidiaries and affiliates Gains on sales of fixed assets Write-down on investment securities...503,964 222,290
720 (6,668)...
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Page 25
... For the fiscal years ended March 31, 2002 and 2001
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Konica 2002
Shares of issued common stock (thousands)
Millions of yen Common stock Additional paid-in capital Retained earnings Treasury stock Unrealized gains on securities Foreign currency translation adjustments
Balance at March 31...
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Page 26
... and dividend income Interest expenses Loss (gain) on sales or disposals of fixed assets, net Write-down on investment securities Amortization of unrecognized net obligation at transition Loss on liquidation of affiliated company Decrease in notes and accounts receivable Decrease in inventories...
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Page 27
...included in net profit or loss for the period in which they arise, except for derivatives that are designated as "hedging instruments" (see Hedge Accounting below). Securities Securities held by the Company and its subsidiaries are classified into two categories: Investments of the Company in equity...
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Page 28
... dollars
Total
$68,438
$79,497
$11,059
(b) Other Securities Sold During the Fiscal Year Under Review
Sale value Millions of yen Total profit Total loss
Other securities
Â¥1,182
Â¥278
Â¥6
Thousands of U.S. dollars
Other securities
$8,874
$2,087
$45
(c) Composition and Amounts on the...
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Page 29
... 6,865 12,969
2002 $29,002 56,614
7. Short-Term & Long-Term Debt with Banks Short-term and long-term debt as of March 31, 2002 and 2001 are summarized as follows:
Millions of yen Thousands of U.S. dollars
8. Income Taxes The statutory tax rate used for calculating deferred tax assets and deferred...
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Page 30
... not recognized Tax loss carryforwards Reserve for employees' retirement allowance Inventories, etc Other, net Subtotal Valuation allowance Deferred tax assets total Total gross deferred tax liabilities Net deferred tax assets
2001
2002
12. Lease Transactions Information on the Company's and...
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Page 31
... photographic film, photographic paper, photofinishing equipment and chemicals, videotapes and others. The business machines segment includes plain-paper copiers, printers, facsimile machines, cameras, optical products and others.
a. Service costs b. Interest costs c. Expected return on plan assets...
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Page 32
...BY PRODUCT
Millions of yen Photographic materials Business machines Total Eliminations and corporate Consolidation
2002: Net sales Outside Intersegment Total Operating expenses Operating income Assets Depreciation Capital expenditure
¥300,401 1,399 301,800 284,676 ¥ 17,123 ¥303,254 12,132 ¥ 29...
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Page 33
31
Konica 2002
BY GEOGRAPHIC REGION
North America Millions of yen Asia and Other Eliminations and Corporate
Japan
Europe
Total
Consolidation
2002: Net sales Outside Intersegment Total Operating expenses Operating income Assets
¥317,306 112,985 430,291 397,599 ¥ 32,691 ¥343,399
Â¥126,361 ...
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Page 34
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
KONICA CORPORATION AND CONSOLIDATED SUBSIDIARIES
32
Konica 2002
We have audited the accompanying consolidated balance sheets of KONICA CORPORATION and its consolidated subsidiaries as of March 31, 2002 and 2001, and the related consolidated statements of ...
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Page 35
... CORPORATION AND CONSOLIDATED SUBSIDIARIES As of June 25, 2002
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Konica 2002
CHAIRMAN OF THE BOARD
DIRECTORS
SENIOR EXECUTIVE OFFICERS
Tomiji Uematsu
PRESIDENT AND CHIEF EXECUTIVE OFFICER
Fumio Iwai
Takanori Yoneyama Takeo Koitabashi Masaru Kanbe Tsuyoshi Miyachi Yoshihiko Someya Tetsuya...
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Page 36
... Glen Cove, NY 11542-2837, U.S.A. Te1: 516-674-2500
KONICA BUSINESS TECHNOLOGIES, INC.
500 Day Hill Road, Windsor, CT 06095, U.S.A. Te1: 860-683-2222
ALBIN INDUSTRIES, INC.
P.O. Box 346, Farmington, MI 48332, U.S.A. Tel: 810-478-0005
KONICA OFFICE PRODUCTS, INC.
534 Broad Hollow Rd., Melville, NY...
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Page 37
... du Ponant-B.P . 50077-95948 Roissy C.D.G. CEDEX, France Tel: 1-49386550
KONICA BUREAUTIQUE S.A.
Units 1606-08, Tower 2, Grand Central Plaza, 138 Shatin Rural Committee Road, Shatin, N.T., Hong Kong, S.A.R., China Tel: 2688-0077
KONICA MANUFACTURING VIETNAM CO., LTD.
Energy Park-Immeuble 7 144/148...
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Page 38
...
TRANSFER AGENT FOR COMMON STOCK
The Toyo Trust and Banking Co., Ltd, 4-3, Marunouchi 1-chome, Chiyoda-ku, Tokyo 100-0005, Japan
Non-Japanese Institutions 25.40%
Financial Institutions 52.03%
Securities Companies 0.69%
MAJOR SHAREHOLDERS
Investment in Konica Name Japan Trustee Services Bank...
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Page 39
... Compact 35mm cameras, digital still cameras, etc.
BUSINESS EQUIPMENT:
Plain-paper copiers, full-color copiers, facsimile machines, color laser printers, etc. Medical Imaging Products: Medical imaging film and automatic processors, laser imagers, imaging cameras, etc. Graphic Imaging and Industrial...
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Page 40
KONICA CORPORATION
Shinjuku Nomura Building, 26-2, Nishi Shinjuku 1-chome, Shinjuku-ku, Tokyo 163-0512, Japan Tel: (03) 3349-5251 Fax: (03) 3349-8998 Internet Home Page: http://www.konica.co.jp
0209IK This report is printed in Japan on recycled paper.