Nikon 2008 Annual Report Download - page 32

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30 Nikon Annual Report 2008
Thousands of
U.S. Dollars
Millions of Yen (Note 1)
2008 2007 2008
Net sales ¥ 955,792 ¥ 822,813 $ 9,539,790
Cost of sales 551,551 494,663 5,505,047
Gross profi t 404,241 328,150 4,034,743
Selling, general and administrative expenses (Note 11) 269,072 226,143 2,685,613
Operating income 135,169 102,007 1,349,130
Other income (expenses)
Interest and dividend income 2,910 1,724 29,042
Interest expense (1,439) (1,633) (14,365)
Cash discount (4,509) (3,840) (45,001)
Royalty income 529 418 5,284
Write-down of inventories (5,450) (1,747) (54,397)
Loss on disposals of inventories (5,304) (6,998) (52,936)
Loss on disposals of property, plant and equipment (923) (804) (9,208)
Loss on impairment of fi xed assets (264) (2,634)
Loss on sales investment securities (94) (938)
Gain on sales of property, plant and equipment 179 825 1,789
Gain on sales of investment securities 1,635 24 16,314
Gain on transfer of investments in affi liate 67
Environmental expenses (894) (8,925)
Loss on restructuring of business (1,384) (1,847) (13,812)
Equity in earnings of unconsolidated subsidiaries and associated companies
1,309 1,541 13,062
Other-net (4,766) (1,924) ( 47, 578 )
Other expenses-net (18,465) (14,194) (184,303)
Income before income taxes and minority interests 116,704 87,813 1,164,827
Income taxes (Note 12)
Current 47,750 34,128 476,601
Deferred (6,530) (1,153) (65,181)
Total income taxes 41,220 32,975 411,420
Minority interests 13
Net income ¥ 75,484 ¥ 54,825 $ 753,407
U.S. Dollars
Yen (Note 1)
Per share of common stock (Note 2 (s)):
Basic net income ¥ 189.00 ¥ 146.36 $ 1.89
Diluted net income 181.23 131.42 1.81
Cash dividends applicable to the year 25.00 18.00 0.25
See Notes to Consolidated Financial Statements.
Consolidated Statements of Income
Nikon Corporation and Consolidated Subsidiaries
Years ended March 31, 2008 and 2007