Nikon 2002 Annual Report Download - page 34

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32
14. CONTINGENT LIABILITIES
Contingent liabilities at March 31, 2002 were as follows:
Thousands of
Millions of Yen U.S. Dollars
As the endorser of trade notes receivable discounted with banks ¥592 $ 4,441
As the guarantor of bank loans and indebtedness, principally of employees,
unconsolidated subsidiaries and associated companies 9,215 69,157
Total ¥9,807 $73,598
15. SUBSEQUENT EVENT
(a) The Company announced the expansion of the currently enacted employees’ early retirement program with respect to the payment of additional
benefits to employees who had selected early retirement. The management introduced the program in order to streamline the structure of the
Company in light of harsh economic conditions. Candidates for the plan were limited to those employees who are 45 years of age or older, and the
period of application was specified from April 15 to May 10, 2002 during which 455 employees of the Company applied. An additional retirement
benefit of ¥8,686 million ($65,185 thousand), which will be charged to income for the year ending March 31, 2003, will be paid in addition to nor-
mal benefits.
(b) On June 17, 2002, the Company, upon approval by the Board of Directors, issued Zero Coupon Convertible Bonds due 2007 in the amount of
¥56,000 million ($420,263 thousand).
16. SEGMENT INFORMATION
Information about industry segments, geographic segments and sales to foreign customers of the Group for the fiscal years ended March 31,
2002 and 2001, was as follows:
(a) Industry Segments
Millions of Yen
Precision Imaging (Eliminations)
Equipment Products Instruments Other Total or Corporate Consolidated
For the year ended March 31, 2002
Net sales
Outside customers ¥194,927 ¥ 219,576 ¥ 45,410 ¥ 23,062 ¥ 482,975 ¥ ¥ 482,975
Intersegment sales/transfer 4,064 2,001 1,231 25,114 32,410 (32,410)
Total 198,991 221,577 46,641 48,176 515,385 (32,410) 482,975
Operating expenses 195,357 205,443 46,173 46,599 493,572 (32,836) 460,736
Operating income ¥3,634 ¥ 16,134 ¥ 468 ¥ 1,577 ¥ 21,813 ¥ 426 ¥ 22,239
Assets ¥282,209 ¥ 108,203 ¥ 34,801 ¥ 43,431 ¥ 468,644 ¥ 92,632 ¥ 561,276
Depreciation and amortization 12,694 3,011 726 1,486 17,917 17,917
Capital expenditures 23,265 8,386 736 1,159 33,546 33,546
For the year ended March 31, 2001
Net sales
Outside customers ¥ 230,566 ¥ 176,220 ¥ 57,792 ¥ 19,379 ¥ 483,957 ¥ ¥ 483,957
Intersegment sales/transfer 4,242 3,892 1,216 24,231 33,581 (33,581)
Total 234,808 180,112 59,008 43,610 517,538 (33,581) 483,957
Operating expenses 190,321 169,609 53,818 41,881 455,629 (33,095) 422,534
Operating income ¥ 44,487 ¥ 10,503 ¥ 5,190 ¥ 1,729 ¥ 61,909 ¥ (486) ¥ 61,423
Assets ¥ 312,964 ¥ 87,307 ¥ 41,454 ¥ 43,604 ¥ 485,329 ¥108,125 ¥ 593,454
Depreciation and amortization 11,224 2,596 1,225 962 16,007 16,007
Capital expenditures 18,960 4,655 1,153 1,228 25,996 25,996