Pentax 2003 Annual Report Download - page 32

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30
Financial Position
Cash and cash equivalents increased 14.1% to ¥75,694 million.
This was primarily due to increases in sales from the Electro-Optics
and Health Care divisions, and a decline in capital expenditures. As
a result, current assets increased 5.1% from the previous fiscal year
to ¥178,154 million. Non-current assets declined 11.4% to
¥96,135 million due to postponement of investment plans to the
next fiscal year for the Electro-Optics division, and a decrease of
deferred tax assets. Total assets declined 1.4% to ¥274,289 million.
Current liabilities fell 2.5% from the previous fiscal year to
¥47,889 million, the result of significant falls in short-term loans
payable (down 32.4%) and income taxes payable (down 46.4%).
Long-term liabilities dropped markedly 79.2% to ¥1,997 million,
due to elimination of employees’ retirement benefits because the
contributory funded pension plan was dissolved and unfunded re-
tirement benefit plan was abolished in the fiscal year under review.
Total liabilities declined 15.1% to ¥49,886 million. The Compa-
ny’s degree of indebtedness edged down 0.6 percentage points to
0.8%, as interest-bearing debt was reduced by ¥1,656 million to
¥2,292 million.
Retained earnings increased 6.9% to ¥216,272 million. The for-
eign currency translation adjustment, which is a debit item against
equity, increased ¥1,847 million to ¥7,178 million, while treasury
stock increased ¥7,036 million to ¥7,053, leading to a rise in total
shareholders’ equity from ¥219,180 million in the previous term to
¥224,219 million. The equity ratio rose from 78.8% to 81.7%.
Total assets (Millions of yen)
Shareholders’ equity (Millions of yen)
Shareholders’ equity ratio(%)
300,000
200,000
250,000
150,000
100,000
50,000
0
20032002200120001999
Total Assets,
Shareholders’ Equity and
Shareholders’ Equity Ratio
(%)
70.7 73.2 73.0 78.8 81.7
224,335 239,341 267,611
158,473
278,068
219,180175,146 195,333
274,289
224,219
85
75
80
70
65
60
(Millions of yen)
Return on equity [ROE](%)
Ordinary income/total assets (%)
Return on assets [ROA](%)
20
12
16
8
4
0
(%)
20032002200120001999
11.6 12.4 11.8 11.5 9.0
14.7 15.3 19.0 16.8 18.4
7.8 8.9 8.6 8.7 7.3
Profitability