Mitsubishi 2003 Annual Report Download - page 64

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62
ANNUAL REPORT 2003 POWER TO CHANGE
As a result of the change in the method of accounting for lease subvention income and expenses related to the North American
subsidiaries as explained in Note 2, operating profit decreased by ¥237 million ($1,972 thousand) between segments in the year
ended March 31, 2003. Corporate assets also increased by ¥4,195 million ($34,900 thousand) at March 31, 2003.
As a result of the change in accounting for sales in foreign currencies and related forward exchange contracts qualified as hedges
as explained in Note 2, operating profit increased by ¥12,299 million in “Automobiles” segment in the year ended March 31, 2002.
As a result of the adoption of the new accounting standard for sales incentives as explained in Note 3, net sales decreased by
¥49,751 million with no effect on operating profit in “Automobiles” segment in the year ended March 31, 2002.
(b) Geographical segments
The geographical segment information for MMC and its consolidated subsidiaries for the years ended March 31, 2003 and 2002 are
summarized as follows:
(In thousands of
(In millions of yen) U.S. dollars)
Year ended March 31, 2003 2002 2003
Net sales:
Japan ¥2,354,208 ¥2,198,819 $19,585,757
North America 1,205,049 896,668 10,025,366
Europe 761,760 543,107 6,337,438
Asia 238,731 157,693 1,986,115
Other areas 297,393 228,385 2,474,151
Total 4,857,144 4,024,673 40,408,852
Interarea (972,270) (823,974) (8,088,769)
Consolidated ¥3,884,874 ¥3,200,699 $32,320,083
Operating profit (loss):
Japan ¥ 46,255 ¥ 22,795 $ 384,817
North America 33,775 45,538 280,990
Europe (10,547) (17,971) (87,745)
Asia 11,968 492 99,567
Other areas 6,073 (2,298) 50,524
Total 87,525 48,557 728,161
Interarea (4,763) (8,329) (39,626)
Consolidated ¥ 82,761 ¥ 40,227 $ 688,527
Total assets:
Japan ¥1,424,496 ¥2,175,866 $11,851,048
North America 970,459 843,977 8,073,702
Europe 297,037 222,648 2,471,190
Asia 87,934 100,146 731,564
Other areas 104,624 109,460 870,416
Total 2,884,552 3,452,099 23,997,937
Interarea (459,199) (557,538) (3,820,291)
Consolidated ¥2,425,352 ¥2,894,560 $20,177,637