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Annual Report
For the Business Year Ended M arch 3 1 , 2 0 0 1
Oki Electric Industry Co., Ltd.
2001

Table of contents

  • Page 1
    Oki Electric Industry Co., Ltd. Annual Report For the Business Year Ended M arch 3 1 , 2 0 0 1 2001

  • Page 2
    ... systems, telecommunications 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...

  • Page 3
    ... divisions were reorganized with the introduction of the in-house company system in April 2000. Therefore, to facilitate comparison between fiscal 2001 and fiscal 2000 data, we have also presented fiscal 2000 data under the new classification. Oki Electric Industry Co., Ltd. Annual Report 2001 1

  • Page 4
    ...in Japan in calendar 2000, and new-model color printers, net sales to third parties in the information systems segment rose 3.2% to ¥352,418 million. Telecommunications systems saw ...while emphasizing profit, growth and speed. Increased corporate 2 Oki Electric Industry Co., Ltd. Annual Report 2001

  • Page 5
    ... thereby making service a source of competitive strength. To reinforce our management base, we are pursuing a networked in-house company system and carrying ...continued support. June 2001 Katsumasa Shinozuka President and Chief Executive Officer Oki Electric Industry Co., Ltd. Annual Report 2001 3

  • Page 6
    ... enterprises by purchasing Toshiba Corporation's ATM business and forming ties with Cisco Systems KK (Cisco Japan), IBM Japan Ltd. and Microsoft Japan Co., Ltd. Attempts to...solutions provider Phoenix 21 Sky-High Achieve stable profits Phoenix 21 4 Oki Electric Industry Co., Ltd. Annual Report 2001

  • Page 7
    ... of corporate management policy Common Affiliated/external companies Services SSC Business Units Affiliated companies NSC SiSC Oki Data Subsidiary company In-house company group Companies focusing on core businesses to optimize profitability Oki Electric Industry Co., Ltd. Annual Report 2001...

  • Page 8
    ...with integrated voice, data and video using IPs such as VoIP, and CTI, to companies, carriers, and government and public agencies. Our third service bridge, "network transactions," provides platforms and applications for such transactions as s s 6 Oki Electric Industry Co., Ltd. Annual Report 2001

  • Page 9
    ... information exchange using IP networks. Our network infrastructure services offer optical technology to carriers to construct broadband IP networks and systems using IP network technology. Companies Supporting Network Solutions Oki Data is planning global business development focused on color page...

  • Page 10
    ...â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ The ETC system is part of Oki's ITS service, enabling automatic toll transactions without the need to stop at the toll gate. 8 Oki Electric Industry Co., Ltd. Annual Report 2001 â-‹ â-‹ â-‹ â-‹ â-‹ â-‹

  • Page 11
    ... established the Payment First Corporation in June 2000. This company offers secure and convenient Internet payment services. As the master distributor for BEA Systems Inc. in Japan, NBC provides key solutions required for building web-based business sites. In partnership with SRI International...

  • Page 12
    ... and IP networks. The system allows carriers to offer integrated data and voice services with VoIP at the core. The CarrierVoIP system can accommodate several million users and is designed to be fault-tolerant. 10 Oki Electric Industry Co., Ltd. Annual Report 2001 â-‹ Enterprise Networks The...

  • Page 13
    ... expertise in GaAs IC and laser diode technologies. Oki has developed a compact, low power consumption integrated modular semiconductor laser for the next 40 Gb/s high speed optical communication systems. Oki Electric Industry Co., Ltd. Annual Report 2001 11 â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹

  • Page 14
    ... IP video services through digital subscriber line (DSL), cable and FTTH. Universal Design Embossed icons to help the visually impaired use ATMs were developed in cooperation with NEC Corporation. The standardized icons received a commendation from the Japan Vending Machine Manufacturers Association...

  • Page 15
    ..., which can be seen on our web site at: http://www.oki.co.jp/OKI/Home/ English/Profile/index.html. Our activities have enabled us to meet the goals for energy Environmental Report 2000 consumption, carbon dioxide emissions, waste reduction and product recycling stated in OKI Eco Plan 21, our fiscal...

  • Page 16
    ...â-‹ Masashi Oouchi Minoru Morio Vice Chairman and Director of Sony Corporation *Also acts as Executive Officer (AS OF JUNE 28, 2001) â-‹ Executive Vice President, Network Systems Company â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ 14 Oki Electric Industry Co., Ltd. Annual Report 2001...

  • Page 17
    ... 3.2 (8.1) 1.1 732.5 214.7 203.2 171.1 163.8 184.7 (47.4) 212.9 197.1 141.3 142.6 148.8 1997 1998 1999 2000 2001 1997 1998 1999 2000 2001 1997 Total Assets 1998 1999 2000 2001 Overseas Sales Total Shareholders' Equity Oki Electric Industry Co., Ltd. Annual Report 2001 15

  • Page 18
    ...higher sales of electronic devices, such as logic and system LSI circuits. Operating income jumped ¥11,801 million, or 80.5%, to ¥26,453. In North America, sales increased ¥11,052 million, or 14.9%,... previous period. After incurring income 16 Oki Electric Industry Co., Ltd. Annual Report 2001

  • Page 19
    ... ¥63,518 million, a result of the free cash flows and disposal of funds. The Company recorded net cash provided by operating activities of ¥62,405 million, a difference of ¥6,486 ..., owing to the continuous reduction of interest-bearing debt. Oki Electric Industry Co., Ltd. Annual Report 2001 17

  • Page 20
    ...' equity ...Contingent liabilities (Note 14) Total liabilities and shareholders' equity ...The accompanying notes are an integral part of these statements. 18 Oki Electric Industry Co., Ltd. Annual Report 2001 ¥(117,043 42,789 10,074 109,426 2,714 47,331 22,199 351,578 196,841 24,517 5,319 226,678...

  • Page 21
    ...,797 - $573,797 $093,448 - 93,448 1,640 (15,787) $079,300 $ (64,806) (2,833) - - - (67,639) 72,129 705 - - (1,640) 15,787 $019,342 Oki Electric Industry Co., Ltd. Annual Report 2001 19

  • Page 22
    ...) (322) (512,563) 4,011 (117,685) 538,520 5,662 $(426,498 ¥010,697 1,315 ¥012,360 2,645 ¥(13,759 6,215 $(086,271 10,606 20 Oki Electric Industry Co., Ltd. Annual Report 2001

  • Page 23
    ...Japan and its foreign subsidiaries maintain their books... flows in Japan and, accordingly, the Company and its subsidiaries... amortized by the straight-line method over a certain ..., as permitted by the Corporation Tax Law of Japan, the cost of certain ...Oki Electric Industry Co., Ltd. Annual Report 2001 21...

  • Page 24
    ... and repairs are charged... employment with the Company receives approximately 60%...line method over a period of 14 years, which is within the estimated average remaining years of service...swaps that meet the required criteria are accounted for by ...Oki Electric Industry Co., Ltd. Annual Report 2001...

  • Page 25
    ...Bonds ...Other stocks and securities ...Other ...Market value of marketable equity securities ... Â¥41,635 21,685 15,774 1,110 Â¥80,206 Â¥59,717 â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ Oki Electric Industry Co., Ltd. Annual Report 2001 23

  • Page 26
    ...the date of issuance of the bonds). 24 Oki Electric Industry Co., Ltd. Annual Report 2001 The Group has noncontributory defined benefit pension plans, contributory defined benefit pension plans pursuant to the Welfare Pension Insurance Law of Japan, and lump-sum retirement payment plans which cover...

  • Page 27
    ...straight-line method as a certain period within the employees' average remaining service years,... Japan (42.0%) and the effective rates on pretax income are summarized as follows: ...2001 ...â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ Oki Electric Industry Co., Ltd. Annual Report 2001 25

  • Page 28
    ... Commercial Code of Japan provides that an ...Company and its subsidiaries have internal rules for derivative transactions, which prescribe managers' duties, management of transactions and a reporting system...80,645 $154,328 26 Oki Electric Industry Co., Ltd. Annual Report 2001 â-‹ â-‹ â-‹ â-‹ â-‹...

  • Page 29
    ... Thousands of U.S. dollars Information Systems Year ended March 31 Telecommunications Systems Electronic Devices Other 2001 Total Corporate and Eliminations Consolidated Sales to third...and additions to long-term prepaid expenses, respectively. Oki Electric Industry Co., Ltd. Annual Report 2001 27

  • Page 30
    ...8 . Stock Option Plan 28 Oki Electric Industry Co., Ltd. Annual Report 2001 â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ â-‹ On June 28, 2001 and June 29, 2000, the shareholders approved stock option plans to grant warrants for purchasing shares of the Company's common stock to the directors and...

  • Page 31
    ... in Note 2 to the consolidated financial statements. June 28, 2001 See Note 1 which explains the basis of preparing the consolidated financial statements of Oki Electric Industry Co., Ltd., under Japanese accounting principles and practices. Oki Electric Industry Co., Ltd. Annual Report 2001 29

  • Page 32
    ...-ku, Tokyo 108-8551, Japan Tel: +81 3 3454 2111 Fax: +81 3 5445 6380 MANUFACTURING PLANTS Takasaki Plant Information systems Numazu Plant Applied electronics systems Honjo Plant Telecommunications systems Hachioji Plant Electronic devices System Development Center Information systems RESEARCH AND...

  • Page 33
    ... 2 2 Americas Oki Telecom, Inc. Oki Data Americas Holdings, Inc. Oki Data Americas, Inc. Oki Data do Brasil, Ltda. Oki Data de Mexico, S.A. de C.V. Oki America, Inc. (Oki Network Technologies) (Oki Semiconductor Company) Europe Oki (UK) Ltd. Oki Europe Ltd. Oki Systems Holding Co., Ltd. Oki Systems...

  • Page 34
    ... System integration Silicon Solutions Company Silicon-on-insulator Silicon platform architecture System Solutions Company Total cost of ownership Video-on-demand Voice-over Internet protocol Wide area network Wavelength division multiplexing 32 Oki Electric Industry Co., Ltd. Annual Report 2001...

  • Page 35
    ... IV I II III IV I II III IV I II III IV 1997 1998 1999 2000 2001 * Java and Jini are trademarks or registered trademarks of Sun Microsystems, Inc., in the United States and/or other countries. This annual report is printed on recycled paper. Oki Electric Industry Co., Ltd. Annual Report 2001 33

  • Page 36
    Oki Electric Industry Co., Ltd. www.oki.com Printed in Japan