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*1. Operating income ratio = Operating income / Net sales 100 (%)
Operating profit ratio = Operating profit / Revenue 100 (%)
*2. Ordinary income ratio = Ordinary income / Net sales 100 (%)
Ordinary profit ratio = Ordinary profit / Revenue 100 (%)
*3. Net income ratio = Net income / Net sales 100 (%)
Profit for the year ratio = Profit for the year / Revenue 100 (%)
*4. EPS = Profit attributable to owners of the company / Average
number of outstanding shares during the period
*5. Dividend payout ratio = Total dividends / Net income 100 (%)
Dividend payout ratio = Total dividends / Profit for the year 100 (%)
*6. R&D expense ratio = R&D expenses / Net sales 100 (%)
R&D expense ratio = R&D expenses / Revenue 100 (%)
*7. ROE (J-GAAP) = Net income / Average shareholders’ equity
*8. ROE (IFRS) = Profit attributable to owners of the company / (Share capital + Share premium
+ Retained earnings + Treasury shares (average at start of fiscal year and end of fiscal year))
*9. ROA = Net income / Average total assets
ROA = Profit attributable to owners of the company / Average total assets
*10. ROIC = Operating income after tax / (Shareholders’ equity + Net D/E ratio)
ROIC = Operating profit after tax / (Share capital + Share premium + Retained earnings +
Treasury shares + Interest-bearing debt - Cash and cash equivalents (yearly average))
Fiscal 2005 Fiscal 2006 Fiscal 2007 Fiscal 2008
Consolidated Financial Highlights
Net sales, Revenue (millions of yen) ························································································································································································· 1,068,390 1,027,630 1,071,568 947,843
Operating income, Operating profit (millions of yen) ···································································································································· 83,415 104,006 119,606 56,260
Operating income ratio, Operating profit ratio (%)*1 ····································································································································· 7.8 10.1 11.2 5.9
Ordinary income, Ordinary profit (millions of yen) ·············································································································································· 76,838 98,099 104,227 45,403
Ordinary income ratio, Ordinary profit ratio (%)*2 ··············································································································································· 7.2 9.5 9.7 4.8
Profit before tax (millions of yen) ····································································································································································································· - - - -
Profit before tax ratio (%) ····························································································································································································································· - - - -
Net income, Profit for the year (millions of yen) ···················································································································································· -54,305 72,542 68,829 15,179
Net income ratio, Profit for the year ratio (%)*3 ······················································································································································ -5.1 7.1 6.4 1.6
Profit attributable to owners of the company (millions of yen) ···································································································· - - - -
Profit attributable to owners of the company ratio (%) ···························································································································· - - - -
Earnings per share, Basic earnings per share attributable to owners of the company (yen)*4 ·· -102.29 136.67 129.71 28.62
Cash dividends per share (yen) ········································································································································································································ 10 10 15 20
Dividend payout ratio (%)*5 ······················································································································································································································ - 7.3 11.6 70.0
R&D expenses (millions of yen) ········································································································································································································ 67,039 71,961 81,272 81,778
R&D expense ratio (%)*6 ······························································································································································································································· 6.3 7.0 7.6 8.6
Net cash flows from operating activities (millions of yen) ···················································································································· 78,924 66,712 123,014 107,563
Net cash flows from investing activities (millions of yen) ······················································································································· -43,146 -56,401 -76,815 -90,169
Free cash flows (millions of yen) ····································································································································································································· 35,778 10,311 46,198 17,394
Profitability
ROE (J-GAAP) (%)*7 ············································································································································································································································· -17.1 21.9 17.5 3.7
ROE (IFRS) (%)*8 ························································································································································································································································ - - - -
ROA (%)*9 ·············································································································································································································································································· -5.7 7.7 7.2 1.6
ROIC (%)*10 ·········································································································································································································································································· 10.3 13.3 14.1 6.5
Efficiency
Total assets (millions of yen) ··················································································································································································································· 944,054 951,052 970,538 918,058
Total assets turnover (times)*11 ·········································································································································································································· 1.12 1.08 1.12 1.00
Property, plant and equipment (millions of yen) ··················································································································································· 216,127 230,094 245,989 227,860
Property, plant and equipment turnover (times)*12 ·········································································································································· 4.87 4.61 4.50 4.00
Inventories (millions of yen) ······················································································································································································································ 149,428 133,550 132,936 129,160
Inventories turnover (months)*13 ······································································································································································································ 3.41 3.19 2.96 3.21
Trade and other receivables (millions of yen) ···························································································································································· 246,264 257,380 234,862 171,835
Trade and other receivables turnover (times)*14 ··················································································································································· 2.75 2.94 2.76 2.56
Soundness
Equity, Equity attributable to owners of the company (millions of yen) ········································································ 293,817 367,467 417,166 413,380
Equity ratio, Equity ratio attributable to owners of the company (%) ·············································································· 31.1 38.6 43.0 45.0
Current assets (millions of yen) ········································································································································································································· 540,152 544,237 557,110 504,919
Current ratio (%)*15 ················································································································································································································································· 113.34 144.33 152.39 162.41
D/E ratio (times)*16 ··················································································································································································································································· 0.81 0.62 0.54 0.56
Net D/E ratio (times)*17 ···································································································································································································································· 0.53 0.39 0.25 0.23
Investment Indicators
Earnings per share, Basic earnings per share attributable to owners of the company (yen)*4 ······ -102.29 136.67 129.71 28.62
Price-to-earnings ratio (PER) (times)*18 ··············································································································································································· -14.68 11.33 10.44 29.28
Price-book value ratio (PBR) (times)*19 ················································································································································································ 0.37 0.45 0.58 0.93
10-Year Financial Summary
Konica Minolta, Inc. and subsidiaries
Fiscal year ended March 31
73
KONICA MINOLTA, INC. Annual Report 2015
Foundation for GrowthBusiness StrategiesGrowth StrategyCompany Overview and Characteristics Financial Report