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25NIKON ANNUAL REPORT 2007
FINANCIAL REVIEW AND ANALYSIS
At fiscal year-end, total assets stood at ¥748,939 million, up ¥58,019 million, or 8.4%, relative to the previous fiscal year-end. This increase
primarily reflected higher levels of cash and cash equivalents and accounts receivable. Current assets totaled ¥523,198 million, up 11.5%.
Liabilities decreased by ¥47,122 million owing primarily to a decline in corporate bonds with redemption due within one year in line with
the exercise of stock acquisition rights.
Net income at year-end stood at ¥54,825 million and equity posted a net increase of ¥105,323 million.
In terms of cash flows, cash and cash equivalents at year-end amounted to ¥83,849 million. Net cash provided by operating activities totaled
¥83,201 million, mainly on account of a high level of income before income taxes, which outweighed a decrease in notes and accounts payable.
Net cash used in investing activities amounted to ¥21,898 million, reflecting primarily an increase in payments for purchases of tangible fixed
assets. Net cash used in financing activities totaled ¥23,673 million due mainly to payments for the redemption of corporate bonds.
Balance Sheet Analysis
March 31, 2007 and 2006
Total assets
Total current assets
Inventories
Property, plant and equipment
Investments and other assets
Total current liabilities
Short-term borrowings
Long-term debt, less current portion
Equity
2006
100.0%
67.9
34.6
16.0
16.1
48.5
1.8
12.8
35.2
2007
100.0%
69.9
32.9
15.5
14.6
41.3
2.1
9.1
46.5
(% of Total Assets)
468,959
506,378
638,468
730,944
822,813
4,187
3,675
30,545
66,587
102,007
(8,143)
2,410
24,141
28,945
(22.03)
6.52
65.19
78.16
146.36
6.02
57.84
69.33
131.42
27,506
30,165
33,561
37,139
162,464
171,194
196,030
243,122
47,218 348,445
(4.8)
1.4
13.1
13.2
18.5
20,226
22,267
22,459
25,817
54,825
30,432
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Net Sales ¥ Million Operating Income ¥ Million Net Income (Loss) ¥ Million
Net Income
Per Share
(Loss) ¥ Diluted Net Income
Per Share
¥Capital Expenditures ¥ Million
R&D Costs ¥ Million Equity ¥ Million Return on Equity %