Konica Minolta 2014 Annual Report Download - page 46

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KONICA MINOLTA, INC. Annual Report 2014
Financial Review and Data
Management’s Discussion and Analysis
Assets
Total assets at March 31, 2014 were up ¥25.5 billion, or 2.7%, from the
previous fiscal year-end to ¥966.0 billion. Current assets rose ¥9.7 bil-
lion, or 1.7%, to ¥589.3 billion (61.0% of total assets) while fixed assets
rose ¥15.7 billion, or 4.4%, to ¥376.7 billion (39.0% of total assets).
With respect to current assets as of March 31, 2014, cash on hand
and in banks increased ¥2.0 billion from the previous fiscal year-end
to ¥95.4 billion, but short-term investment securities decreased ¥27.5
billion to ¥92.9 billion, and cash and cash equivalents decreased
¥25.4 billion to ¥188.4 billion. Meanwhile, notes and accounts receiv-
able–trade increased ¥26.0 billion to ¥220.1 billion, and lease receiv-
ables and investment assets increased ¥5.2 billion to ¥21.2 billion.
Inventories increased ¥2.7 billion to ¥115.2 billion.
In fixed assets, property, plant and equipment decreased ¥6.5 billion
from the previous fiscal year-end to ¥173.3 billion due primarily to
depreciation linked to the withdrawal from the business of glass sub-
strates for HDDs, despite capital investment in the Business
Technologies Business and Industrial Business as well as the construc-
Financial Position and Liquidity
Total assets
FY2013FY2012FY2011
(Billions of yen) 966.0
940.5
902.0
0
200
400
600
800
1,000
FY2013FY2012FY2011
(Billions of yen) (%)
227.9
231.9
224.8
213.9
196.1
188.5
0
50
100
150
200
250
300
-0.02
0.00
0.02
0.04
0.06
0.08
0.10
-0.01
0.02 0.02
Interest-bearing debt Cash and short-term investment securities
Net debt-equity ratio
Liabilities
Total liabilities increased ¥11.8 billion, or 2.5%, year on year to
¥486.0 billion (equivalent to 50.3% of total assets). Notes and
accounts payable–trade increased ¥10.8 billion to ¥96.2 billion and
accounts payable–other and accrued expenses increased ¥12.8 billion
to ¥74.3 billion. Provision for bonuses increased ¥2.1 billion. Net
defined benefit liability increased ¥9.8 billion due to the application of
accounting standards for retirement benefits. Interest-bearing debt
(total of short-term and long-term debt and bonds) decreased ¥28.7
billion to ¥196.1 billion.
tion of a new R&D building. Intangible fixed assets increased ¥0.4 bil-
lion to ¥111.3 billion.
In investments and other assets, investment securities increased ¥6.0
billion year on year to ¥29.2 billion as of March 31, 2014. Deferred
tax assets increased ¥15.0 billion to ¥48.0 billion due primarily to a
revision of recoverable amount in light of reorganization of the
Group’s administrative structure conducted in April 2013.
Net Assets
Net assets at March 31, 2014 were up ¥13.6 billion, or 2.9% from a
year earlier to ¥480.0 billion (49.7% of total assets). Retained earn-
ings increased ¥12.7 billion year on year to ¥242.4 billion, reflecting
the ¥21.8 billion in net income for the period and cash dividends paid
of ¥9.2 billion. Furthermore, treasury stock increased ¥15.7 billion due
to repurchases. In accumulated other comprehensive income, foreign
currency translation adjustments rose ¥23.3 billion due mainly to the
continued weakness of the yen, mainly against the U.S. dollar and the
euro, while the Company recorded negative remeasurements of
defined benefit plans of ¥8.4 billion due to the application of
accounting standards for retirement benefits.
Net assets
FY2013FY2012FY2011
(Billions of yen)
480.0
466.4
434.9
0
100
200
300
400
500
600