Oki 2011 Annual Report Download - page 22

10
(Billions of yen) (%)
(Ended March 31)
Net Income (Loss)/
Return on Equity [ROE]
-30
-10
-50
-60
-20
0
-40
-70
10
-30
-10
-50
-60
-20
0
-40
-70
2009 2010 2011
(45.0) 3.6 60
(Billions of yen)
(Ended March 31)
Cash Flows
0
40
-20
20
-40
-60
2009 2010 2011
20
(Billions of yen)
(Ended March 31)
Capital Expenditures/
Depreciation (property, plant
and equipment, at cost)
10
5
15
0
2009 2010 2011
18.8
10.5
15.9
(61.5%)
6.6%
(46.1%)
57.5
18.9
(59.5)
51.3
(13.0)
(31.3)
8.6
9.7
8.0
Net Income (Loss) (left scale)
Return on Equity (ROE) (right scale)
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Capital Expenditures
Depreciation (property, plant
and equipment, at cost)
(27.0)
1.6
(4.4)
11.2
50
(Billions of yen)
(Ended March 31)
Net Sales
30
40
20
10
0
2009 2010 2011
47.4
36.2
47.0
30.0
22.7
31.0
0.7
（0.2）
1.3
1.5
17.4 13.5 15.9
3.0
(Billions of yen)
(Ended March 31)
Operating Income (Loss)
1.5
2.5
0.5
1.0
2.0
-0.5
0
-1.0
-1.5
2009 2010 2011
（0.5）
（0.6）
2.9
EMS Segment, Other Businesses
（1.2） （0.5）
EMS Other Businesses EMS Other Businesses
20 Annual Report 2011
EMS Segment, Other Businesses
Sales in the EMS segment jumped 36.8% year on year to ¥31.0 bil-
lion, and sales for Other Businesses rose 17.8% to ¥15.9 billion.
The EMS segment reported higher sales due to expansion of
orders for large-scale projects in the telecom equipment market,
swift establishment of new projects in the medical equipment
market, recovery in conditions in the industrial equipment and
semiconductor equipment markets, and recovery in the market for
substrates. Other Businesses generated increased sales thanks to
healthy performances by component-related businesses accompa-
nied by a turnaround in market conditions.
Operating income in the EMS segment improved ¥1.5 billion year
on year to ¥1.3 billion, and operating income in Other Businesses
improved ¥2.0 billion to ¥1.5 billion. These improvements stemmed
mainly from higher marginal profits owing to increased volume, as
well as an enhanced product mix and reduced procurement and pro-
duction costs, which compensated for the impact of the earthquake
and optimization of treatment plans.
NET INCOME
During the fiscal year under review, the OKI Group posted a net
loss of ¥27.0 billion, compared with net income of ¥3.6 billion in
the previous fiscal year. This was due to the incurrence of costs
related to business restructuring resulting from measures
enforced under the Group’s brushed-up mid-term business plan,
which include a loss on the revision of the retirement benefit sys-
tem and special retirement expenses. Against this backdrop, net
income per share of ¥5.30 in the previous fiscal year deteriorated
to a net loss per share of ¥37.35.
ASSETS AND LIABILITIES
At fiscal year-end, total assets decreased ¥11.4 billion year on year
to ¥372.2 billion. Despite posting a net loss of ¥27.0 billion and a
decrease in other accumulated comprehensive income of ¥5.2 bil-
lion as a result of setting up a retirement benefit trust,
shareholders’ equity rose ¥1.7 billion from the previous fiscal year-
end, to ¥59.4 billion. This was due to several factors, including a
¥3.5 billion increase in additional paid-in capital resulting from a
share exchange associated with the transformation of Oki Wintech
Co., Ltd. into a wholly owned subsidiary on June 1, 2010; a ¥47.9
billion reduction in capital and simultaneous increase in additional
paid-in capital by the same amount, along with the completion of
payment procedures for a Class A Preferred Stock issuance by pri-
vate placement to a third party (all on December 22, 2010), which
resulted in increases of ¥15.0 billion in both capital and additional
paid-in capital respectively. As a result, the shareholders’ equity
ratio increased to 15.9%. Among net assets, minority interests in
consolidated subsidiaries declined ¥6.5 billion from the previous
fiscal year-end, due largely to the aforementioned share exchange.
With respect to major increases and decreases in assets, there
was a ¥11.8 billion decrease in cash and deposits and a ¥17.4 billion
increase in marketable securities among current assets. Non-current
assets declined ¥16.4 billion, due mainly to a decrease in invest-
ments in unconsolidated subsidiaries and other securities.
Total liabilities declined ¥6.5 billion. Interest-bearing debt