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Annual Report
For the Business Year Ended M arch 31, 2 000
Oki Electric Industry Co., Ltd.

Table of contents

  • Page 1
    Oki Electric Industry Co., Ltd. Annual Report For the Business Year Ended M arch 3 1 , 2 0 0 0

  • Page 2
    ... systems and electronic devices, Oki Electric is helping to shape the evolution of the information society. The Company is a responsible corporate citizen that contributes to the well-being of its host communities around the globe. Please visit our Global Web site at http:/ / w w w .oki.com...

  • Page 3
    ... annual report refer to years ended March 31. P RODUCT SEGM ENTS T ELECOM M UNICATIONS SYSTEM S Switching systems Central office switching systems, Private branch exchanges (PBXs), Computer telephony integration (CTI) systems, Asynchronous transfer mode (ATM) switching systems, Local area networks...

  • Page 4
    ..., based on the new business model. We are also restructuring and strengthening management throughout the Oki Group to strongly promote the concepts of "profit and agility." From April 2000, we began establishing independent profit centers based on the "in-house company" system and also introduced...

  • Page 5
    ...supports corporate telecommunications infrastructures by providing seamless and effective communications via an Internet protocol (IP) network, integrating voice, fax and data... manufacturing technology to a venture company to support production of memory chips and logic LSIs. In North America,...

  • Page 6
    ... based on the Full Service Access Network (FSAN) specification/ITU-T standard. The private network market is accelerating its shift to IP networks. New network systems are capable of transferring voice and data over these networks. In addition, companies are looking to lower their telecommunications...

  • Page 7
    ... as multifaceted customer service tools. The GPCTI system combines a global positioning system with a mobile telephone and the acclaimed Oki CTI server, CTstage®. The first in the industry to employ the dual tone multiplexed frequency (DTMF) (push-button signal) protocol, it can handle data from...

  • Page 8
    ... development environment for delivering responsive customer support and short lead times. To further streamline SPA product development, we joined Pittsburgh Digital Greenhouse, a cooperative with major companies such as Sony Corp. and Cadence Design Systems, Inc., and including three Pennsylvania...

  • Page 9
    ...access-independent of time and place-to services from numerous types of terminals over broadband networks. Information Systems • An ITS road to vehicle communications system we devised can send broadband multimedia data using radio-on-fiber (ROF) technology. • By adopting clustering architecture...

  • Page 10
    ... of other major Oki Group manufacturing companies. This report can be found on our web site. In other activities, Oki Data Americas, Inc., has adopted a stretch of New Jersey shoreline allotted to them by the New Jersey Department of Environmental Protection. Oki Data Americas' employees volunteer...

  • Page 11
    SIX -YEAR SUM M ARY Oki Electric Industry Company, Limited and consolidated subsidiaries Years ended March 31 Millions of yen 2000 Thousands of U.S. dollars 1996 1995 2000 1999 1998 1997 For the year Net sales ...¥669,776 ¥673,170 ¥764,596 ¥732,225 ¥748,331 ¥656,989 Cost of sales ......

  • Page 12
    ...In fiscal 2000, ended March 31, 2000, Japan's economy continued in a slump as consumer confidence remained stagnant, despite signs of a slight rebound in the second half, supported by increased private-sector capital investment. Financial institutions and telecommunications companies avoided capital...

  • Page 13
    C ONSOLIDATED BALANCE SHEETS Oki Electric Industry Company, Limited and consolidated subsidiaries March 31, 2000 and 1999 Millions of yen Thousands of U.S. dollars (Note 2) 1999 2000 ASSETS Current assets: Cash and cash equivalents ...Time deposits ...Marketable securities (Note 3) ...Notes and ...

  • Page 14
    ...C ONSOLIDATED STATEM ENTS OF SHAREHOLDERS' E QUITY Millions of yen 2000 Oki Electric Industry Company, Limited and consolidated subsidiaries Years ended March 31, 2000, 1999 and 1998 1999 1998 Thousands of U.S. dollars (Note 2) 2000 Common stock: Balance at beginning of the year ...Increase due...

  • Page 15
    C ONSOLIDATED STATEM ENTS OF C ASH FLOWS Oki Electric Industry Company, Limited and consolidated subsidiaries Years ended March 31, 2000, 1999 and 1998 Millions of yen 2000 Thousands of U.S. dollars (Note 2) 1998 2000 1999 Cash flows from operating activities: Net income (loss) ...Adjustments...

  • Page 16
    ... issued a new accounting standard for statements of cash flows, which is effective the year ended March 31, 2000. Prior to the issuance of this standard, there existed no accounting standard for the preparation of statements of cash flows in Japan and, accordingly, the Company and its subsidiaries...

  • Page 17
    ...by the Corporation Tax Law of Japan, the ...Corporation Tax Law. Significant renewals and betterments are capitalized at cost. Maintenance and repairs...with the Company receives ... a new accounting...difference between financial reporting and the ...rate prevailing on March 31, 2000. The translation should not ...

  • Page 18
    ... 2000 Thousands of U.S. dollars 1999 2000 Thousands of U.S. dollars 2000 1999 Finished goods ...¥046,941 Work in process ...51,236 Raw materials and supplies ...42,467 ...¥140,644 ¥052,705 75,758 35,428 ¥163,892 $0,442,841 483,359 400,636 $1,326,836 Loans from banks, insurance companies...

  • Page 19
    ... Taxation Measures Law and the Commercial Code of Japan. The reserves are deducted from taxable..., 2000, 1999 and 1998 was as follows: Millions of yen 2000 The bonds are redeemable at the Company's ...bonds. The aggregate annual maturities of long-term debt subsequent to March 31, 2000 are summarized as...

  • Page 20
    ...the adoption of the new accounting standard ...Money ...Company and its subsidiaries have principally their internal rules for the derivative transactions, which prescribe managers' duties, management of transactions and reporting system... subsequent to March 31, 2000 required under operating leases with...

  • Page 21
    ... ¥060,412 Japan North America 16. Amounts per...2000, 1999 and 1998, respectively. 18. Segment information The Company and its consolidated subsidiaries are engaged in the manufacture and sale of products in Japan and foreign countries in one business segment-telecommunications, information systems...

  • Page 22
    ... years in the period ended March 31, 2000 in conformity with accounting principles and practices generally accepted in Japan applied on a consistent basis. As described in Note 1 to the consolidated financial statements, Oki Electric Industry Company, Limited and its consolidated subsidiaries have...

  • Page 23
    ... Co., Ltd.° Oki Digital Imaging Corp. (Brazil) Oki Data do Brasil, Ltda.° (Mexico) Oki Data de Mexico, S.A. de C.V.° (United States) Oki America, Inc.° Oki Network Technologies Division Oki Semiconductor Company Oki Telecom, Inc.° Oki Data Americas, Inc.° Oki Data Americas Holdings, Inc...

  • Page 24
    ...Officer Isamu Nose General Manager, Corporate Research & Development Center General Manager, Engineering Planning Division Masashi Ouchi Network System Company General Manager, Public Network System Division Masayoshi Ino* President, Silicon Solutions Company Kimio Asano Executive Vice President...

  • Page 25
    ... Minato-ku, Tokyo, 105-8460, Japan Tel: +81-3-3501-3111 Fax: +81-3-3581-5522 URL: http:IIwww.oki.co.jp DISTRIBUTION OF SHAREHOLDERS (As of March 31, 2000) (Yen) COMMON STOCK PRICE RANGE ON THE TOKYO STOCK EXCHANGE 1,200 Foreign corporations and individuals 11% Securities companies 1% 900 Other...

  • Page 26
    3Y00507 Published August 2000/50 Printed in Japan