Wacom 2009 Annual Report Download

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Annual Report
2009
Creating harmony between
people and technology

Table of contents

  • Page 1
    Annual Report 2009 Creating harmony between people and technology

  • Page 2
    We looked inside ourselves to find the thought that defines and drives everything we do. An idea that helps us open up to experience the world in a new way. An idea to drive us forward.

  • Page 3
    Open up. Sense more. An idea. A dream. An inspiration. 2

  • Page 4
    ...pen tablet's user-friendly interface and versatility. To this day, the pen tablet is an absolute must-have in the world of graphics. We did not stop there. We thought, "What if you could draw directly on to a computer screen?" Our interactive pen displays enable users to do just that. These products...

  • Page 5
    ... PC for the consumer market adopts Wacom Penabled DualTouch technology Berliner Sparkasse adopts Wacom LCD signature tablet for digital signature solution for its private client centers Launch of Cintiq 12WX interactive pen display as a mobile companion, and as a secondary monitor in multi-monitor...

  • Page 6
    ... 2007 Pen Input Multi-touch Near futu re Tablet market Pen sensor components Interactive pen displays Tablets for consumer use Electronic seals and other security applications Tablets for professional use Digitizer and software e lop Dev dS t an n e m ales CAD market Development and sales...

  • Page 7
    Wacom enhances the life experience by creating harmony between people and technology. 6

  • Page 8
    ... an original multi-finger touch technology that detects an unlimited number of fingers with high precision and speed, new generation digital DJ equipment "nextbeat", as well as the development and launch of "Intuos4 series" a new generation of professional pen tablets. These successful projects...

  • Page 9
    ... Platform R&D Marketing & Sales Supply Chain Management Product Management Electronic System & Devices Business (ESD) • Professional pen tablets • Consumer pen tablets • Interactive pen displays • Pen sensor components • Touch sensor components • New business development Engineering...

  • Page 10
    ... starting pen pressure against the tablet surface, as well as delivering 2,048 levels of pressure sensitivity, doubling that of previous models. Intuos4 provides users with a natural writing and drawing feel, just like traditional pencils and paint brushes. Wacom aims to sell 500,000 units worldwide...

  • Page 11
    ... and words, take notes and review them using interactive pen displays. New lecture styles will continue to be developed using the futuristic system described in this case study. In Japan, about 2,600 educational institutions have already adopted a total of 80,000 units of Wacom's pen tablets and...

  • Page 12
    .... Our consumer pen tablets are for more general users and are easy and fun to operate. Our interactive pen displays enable users to write, draw, sketch and scribble directly on the screen. Without getting too technical, this is due to the pen sensor being incorporated into the LCD display. Almost...

  • Page 13
    ...Microsoft Windows Vista. Bamboo Fun enables users to intuitively draw, paint, sketch, write or retouch digital photographs. To sum it up, Bamboo is a new, fun way of working with a computer. Our interactive pen displays - Cintiq & DTX/PL Providing the freedom to work with the pen directly on screen...

  • Page 14
    ... write notes or draw diagrams directly on the LCD display, which are then displayed instantly on the large screen for all to see. In addition, the use of TV phones and web-based whiteboards helps with remote instruction and the online correction of student work. Business The use of interactive pen...

  • Page 15
    ... illustrator and character designers in Japan. He began to use the Wacom pen tablet in 1992. He always uses three units of the professional pen tablet, "Intuos4" as well as "Cintiq 12WX". He had been known as a user of Corel's "Painter" before, however, has shifted to 3D graphics recently. Now he...

  • Page 16
    ...the 1980s, we set up our corporate headquarters in Japan. We extended our global operations to the United States and Germany, and then expanded to China, Korea, Australia, Singapore, Hong Kong and Taiwan. In addition to these subsidiaries, we also have sales bases in Shanghai and Moscow. Each of our...

  • Page 17
    ... in Vancouver, Washington, in the United States. The company is not only responsible for sales and customer support in North and Latin America, but also plays a central role in global marketing and product planning for professional pen tablets, and the development of driver software. Wacom Korea Co...

  • Page 18
    ... Management Division, Koji Shimoda Product Management Division, Joseph Deal Wacom Technology Corporation, Han Stoffels Wacom Europe GmbH Corporate Governance The Board of Directors and Board of Corporate Auditors are responsible for corporate governance at Wacom. We currently have six directors...

  • Page 19
    ... Balance Sheets 25 Consolidated Statements of Income 26 Consolidated Statements of Changes in Net Assets 27 Consolidated Statements of Cash Flows 28 Notes to Consolidated Financial Statements 38 Report of Independent Auditors 39 Corporate data 40 Investor Information 18

  • Page 20
    Five-Year Summary Wacom Co., Ltd. and Its Subsidiaries Five-Year Summary Thousands of yen Year ended March 31 2007 2006 Thousands of U.S. dollars* Year ended March 31 2009 2009 2005 2008 For the year: ¥17,650,932 ¥23,992,206 ¥28,787,066 ¥36,739,196 ¥33,809,138 $344,183 Net sales 8,926,708 ...

  • Page 21
    ... design tool to offer high productivity to professional users. In the ASEAN area, we established a subsidiary in Taiwan and its logistic base in Singapore to enhance sales, marketing and customer service. For the intellectual property, we filed patent infringement lawsuits against Hanwang Technology...

  • Page 22
    ... year, thanks to the introduction of a professional LCD tablet "Cintiq 12WX" released in 2007, and the favorable sales of a new product "DTU-1931". With regards to the components business, whose major customers are Tablet PC manufacturers, our pen-sensor components experienced drastic changes in the...

  • Page 23
    ... was the purchase of fixed assets of ¥956mn. (Cash Flow from Financing Activities) Financing cash flow was ¥2.68bn (511mn in the previous year). The main reasons were a repurchase of own shares of ¥1.85bn and a payment of shareholders' dividends of ¥1,05bn. Cash f lows from operating activities...

  • Page 24
    ...March 31 2008 2009 Thousands of U.S. dollars (Note 1) March 31 2009 Assets: Current assets Cash and deposits (Note 14) Notes and accounts receivable-trade Short-term investment securities (Notes 2 and 5) Inventories (Note 2 and 4) Merchandise and finished goods (Note 2 and 4) Work in process (Note...

  • Page 25
    ... 31 2008 2009 Thousands of U.S. dollars (Note 1) March 31 2009 Liabilities: Current liabilities Notes and accounts payable-trade Short-term loans payable (Note 7) Income taxes payable Provision for bonuses (Note 2) Provision for directors' and statutory corporate auditors' bonuses (Note 2) Other...

  • Page 26
    ...Wacom Co., Ltd. and Its Subsidiaries Thousands of yen Year ended March 31 2008 2009 Thousands of U.S. dollars (Note 1) Year ended March 31 2009 Net sales Cost of sales (Notes 9 and 20) Gross profit Selling...780 4,179,661 1,528,131 72,505 1,600,636 ¥2,579,025 5 136 141 42,550 15,557 738 16,295 ...

  • Page 27
    ... of new shares Dividends from surplus Net income Change of scope of consolidation Purchase of treasury stock Net changes of items other than shareholders' equity Total changes of items during the period Balance at the end of current period Thousands of U.S. dollars (Note 1) Year ended March 31 2009...

  • Page 28
    ..., plant and equipment Purchase of intangible assets Purchase of software Proceeds from sales of noncurrent assets Purchase of investments in subsidiaries Purchase of investment securities Payments for lease and guarantee deposits Proceeds from collection of lease and guarantee deposits Other, net...

  • Page 29
    ... as follows; Wacom Europe GmbH Wacom Technology Corporation Wacom China Corporation Wacom Korea Co., Ltd. Wacom Australia Pty. Ltd. Wacom Hong Kong Ltd. Wacom Singapore Pte. Ltd. Wacom Taiwan Information Co., Ltd. In May 2007, the Company acquired 100% of the issued shares of Touchscreen Konnection...

  • Page 30
    ... Solution on Unification of Accounting Policies Applied to Foreign Subsidiaries for the Consolidated Financial Statements" (Accounting Standards Board of Japan Practical Issues Task Force No. 18 issued on May 17, 2006) has been adopted effective for the fiscal year ended March 31, 2009. As a result...

  • Page 31
    ... year 2008. (i) Held-to-maturity debt securities with fair market value Thousands of yen March 31, 2009 Due 2009 Thousands of U.S. dollars Due 2010 Due 2014 2013 2018 Due after 2019 Bonds (1) Government bonds, Municipal bonds, etc. (2) Corporate bonds (3) Others Other Total $- - 5,090 - $5,090...

  • Page 32
    ...Provisions for bonuses to directors and statutory corporate auditors - 23,695 Commission paid 1,433,588 - $14,032 841 29,262 1,539 584 2,746 14,679 - - (2) The ratio of the number of company's employees to total employees in the multi-employer pension plan as of March 31, 2008 is 15.2% and 2009 is...

  • Page 33
    ...of shares was due to exercise of stock options. b) Increase in the number of treasury stock was due to purchase of treasury stock based on the resolution of the board meeting. (Approval by) Board meeting on May 8, 2009 Type of shares Total amont Dividends of dividends per share (Thousands (dollar...

  • Page 34
    ... been accounted for as ordinary sale and purchase transactions. These standards (See Note 3) are applied to new lease contracts entered since the fiscal year ended March 31, 2009. Such, however, new contracts have not been entered for the fiscal year ended March 31, 2009. Finance lease transactions...

  • Page 35
    ... that would result in exercising options to issue new shares(shares) $26,255 26,255 - 2,240 1,082 - 19. Stock options: The following are the stock options granted to directors and employees, which would result in an increase in the number of common shares with the following exercise prices. Date...

  • Page 36
    ... of the business. b) The main products of each business segment include the following: i) ESD business: Professional graphics tablet, Consumer graphics tablet, LCD tablet, Pen sensor component, etc. ii) ECS business: ECAD/dio, ENOVIA SmarTeam, etc. c) Elimination or Corporate expenses of ¥2,561,756...

  • Page 37
    ... excluding Japan and U.S.A.: i) Europe: Germany, United Kingdom ii) Asia/Oceania: China, South Korea, Australia, Hong Kong, Singapore and Taiwan c) Elimination or Corporate expenses of ¥2,561,756 thousand and ¥1,948,967 thousand ($19,840 thousand) during the years ended March 31, 2008 and 2009...

  • Page 38
    ...the fiscal year ended March 31, 2009. As a result, in addition to directors who are included in disclosure scope for related party transactions in past years, directors of significant subsidiaries of the Company, Joseph E. Deal (Wacom Technology Corporation) and Han Stoffels (Wacom Europe GmbH) have...

  • Page 39
    Report of Independent Auditors 38

  • Page 40
    ... input devices • Professional pen tablets • Consumer pen tablets • Interactive pen displays • Components 2. Engineering Collaborative Solutions (ECS) Business Development, manufacture, sale, support, and maintenance of industrial systems • Electronic design CAD software Mizuho Bank, Ltd...

  • Page 41
    ...Account) The Master Trust Bank of Japan, Ltd. (Trust Account) State Street Bank and Trust Company Wilnau Co. Trust and Custody Services Bank, Ltd. (Trust Account) Masahiko Yamada JPMCB Omnibus U.S. Pension Treaty Jasdec 380052 MASA-JAPANESE EQUITY Wacom has 20,000 shares of treasury stock at the end...

  • Page 42
    © 2009 Wacom Co., Ltd. Wacom is a trademark of the Wacom Company, Ltd. All rights reserved. All other company names and product names are trademarks or registered trademarks of their respective owners.