Konica Minolta 2002 Annual Report Download - page 21
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Please find page 21 of the 2002 Konica Minolta annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.19 Konica 2002
labor-saving production. Capital expenditure in the fiscal year
under review totaled ¥45.6 billion, an increase of ¥15.2 billion
from the previous period. Of this amount, ¥29.3 billion was
allocated to the photographic materials segment, ¥14.9 billion
to the business machines segment, and ¥1.3 billion was allo-
cated for facilities shared by both business segments. A prin-
cipal factor underlying this increase in capital expenditure
was the construction 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, a decline of ¥2.8 billion from
the previous fiscal year. This consisted mainly of ¥15.0
billion in income before income taxes and ¥26.2 billion in
depreciation and amortization.
Net cash used in investing activities totaled ¥39.5 billion,
an increase of ¥31.4 billion from the previous fiscal year.
This resulted mainly from ¥41.6 billion in payment for
acquisition of fixed assets.
Net cash used in financing activities totaled ¥19.0 bil-
lion, a decrease of ¥23.6 billion from the previous fiscal year.
This consisted primarily of ¥15.2 billion in the redemption
of bonds, as well as the repayment of long-term debt and
reduction of short-term debt.
In the next fiscal year we will further reduce our assets
while aiming to expand our business by continuing to take a
vigorous approach to capital investments. We expect to
create free cash flow of ¥7.0 billion and will further reduce
interest-bearing debt as we strengthen our financial
structure.
OUTLOOK
The trend toward digitization in the market is proceeding at
a faster-than-expected rate. Despite some emerging signs of
brightness in the world’s principal economies, the direction
of these economies still remains unclear. To ensure its con-
tinued growth amid this challenging environment, Konica
will place top priority on reforming its operations in addi-
tion to upgrading its technical capabilities and cost competi-
tiveness. Under SAN Plan 2005, a new management plan
formulated in March 2002, Konica will implement manage-
ment policies that include 1) carrying out Companywide
portfolio management, 2) progressing further with the
digital networks, 3) enhancing management efficiency, 4)
improving quality, and 5) implementing environmental
accounting. By taking these measures throughout the
Group, we are aiming for consolidated net income of ¥30.0
billion and ROE of 12.5% in the fiscal year ending March 31,
2006. Also, to carry out optimal and swift management in
each business segment, which will have clear-cut responsi-
bilities and authority, we will spin off all our businesses as
separate companies in April 2003. Konica will serve as the
holding company and oversee all businesses while carrying
out strategic decision making based on portfolio manage-
ment. By taking this approach, we are pursuing balance-
sheet management that quickly reflects the business
characteristics of each company, further improves capital
efficiency, and achieves growth in profits.
コニカAR財務9.6H最新 02.9.25 10:03 ページ 7