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Millions of Yen
Thousands of U.S.
Dollars (Note 1)
2012 2013 2014 2014
NET SALES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥3,036,836 ¥3,071,609 ¥3,043,114 $29,544,796
COST OF SALES (Note 9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,128,920 2,142,243 2,128,457 20,664,631
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 907,916 929,366 914,657 8,880,165
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
(Notes 9 and 14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 834,174 814,719 808,464 7,849,165
Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73,742 114,647 106,193 1,031,000
NON-OPERATING INCOME:
Interest and dividends income . . . . . . . . . . . . . . . . . . . . . . 6,108 5,247 6,251 60,689
Equity in earnings of affiliated companies, net . . . . . . . . . . — 409 2,719 26,398
Subsidy income (Note 5) . . . . . . . . . . . . . . . . . . . . . . . . . . . 630 535 2,165 21,020
Foreign exchange gain, net . . . . . . . . . . . . . . . . . . . . . . . . . — 446 593 5,757
Other non-operating income (Note 5) . . . . . . . . . . . . . . . . . 11,878 8,940 6,507 63,175
Total non-operating income . . . . . . . . . . . . . . . . . . . . . . 18,616 15,577 18,235 177,039
NON-OPERATING EXPENSES:
Interest expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,446 5,979 10,036 97,437
Retirement benefit expenses (Note 9) . . . . . . . . . . . . . . . . . 11,867 11,631 11,325 109,952
Provision for contingent loss (Note 5) . . . . . . . . . . . . . . . . . 2,519 1,327 11,452 111,184
Equity in losses of affiliated companies, net . . . . . . . . . . . . 12,705 — — —
Foreign exchange loss, net . . . . . . . . . . . . . . . . . . . . . . . . . 2,672 — — —
Other non-operating expenses (Note 5) . . . . . . . . . . . . . . . 15,099 19,263 22,463 218,087
Total non-operating expenses . . . . . . . . . . . . . . . . . . . . . 50,308 38,200 55,276 536,660
Ordinary income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42,050 92,024 69,152 671,379
SPECIAL GAINS (Note 15) . . . . . . . . . . . . . . . . . . . . . . . . . . . 28,375 16,780 58,341 566,417
SPECIAL LOSSES (Note 15) . . . . . . . . . . . . . . . . . . . . . . . . . . 67,124 39,525 43,532 422,641
INCOME BEFORE INCOME TAXES
AND MINORITY INTERESTS . . . . . . . . . . . . . . . . . . . . . . . . . 3,301 69,279 83,961 815,155
INCOME TAXES (Note 13):
Current . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,911 30,724 33,558 325,806
Deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84,283 (198) 8,808 85,514
Total income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108,194 30,526 42,366 411,320
INCOME (LOSS) BEFORE MINORITY INTERESTS . . . . . . . . (104,893) 38,753 41,595 403,835
MINORITY INTERESTS IN NET INCOME OF SUBSIDIARIES . . 5,374 8,319 7,853 76,243
NET INCOME (LOSS) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ (110,267) ¥ 30,434 ¥ 33,742 $ 327,592
Yen U.S. Dollars (Note 1)
PER SHARE OF COMMON STOCK (Note 23):
Basic net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ (42.44) ¥ 11.71 ¥ 12.99 $ 0.13
Diluted net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ——— —
Cash dividends applicable to the year . . . . . . . . . . . . . . . . — 4.00 4.00 0.04
See notes to consolidated financial statements.
CONSOLIDATED STATEMENTS OF OPERATIONS
NEC Corporation and Subsidiaries
Years Ended March 31, 2012, 2013 and 2014
53 NEC Corporation
Annual Report 2014