Alpine 2007 Annual Report Download

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For the year ended March 31, 2007

Table of contents

  • Page 1
    For the year ended March 31, 2007

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    ...Nishinakagawa Managing Director Toyomi Furuse Managing Director Hirokuni Tanabe Managing Director Toji Tanaka Managing Director (As of June 26, 2007) President & CEO Managing Directors Seizo Ishiguro Hitoshi Kajiwara Motoshi Nishinakagawa Hirokuni Tanabe Masataka Kataoka Toru Usami Kenji Igari...

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    ....00 914.18 54.74 52.04 10.00 957.30 56.40 54.60 10.00 1,106.38 At year-end: Current assets Property, plant and equipment, net Current liabilities Long-term liabilities Common stock Retained earnings Total stockholders' equity Total net assets Total assets Equity ratio (%) 74,884 22,300 52,798 8,402...

  • Page 13
    Millions of Yen, unless stated otherwise Thousands of U.S Dollars 2002 2003 2004 2005 2006 2007 2007 196,092 157,032 7,022 3,914 15,728 8,513 5,552 6,808 14,718 2.8 5.6 222,367 177,017 12,306 6,138 14,389 6,290 5,723 8,218 ...

  • Page 14
    ... demand centering on digital home electric appliances such as flat-panel TVs, expanded profit of exporting companies helped by a cheaper yen as well as aggressive private sector capital investment. In the automobile industry, the demand shifted to fuel efficient cars reï¬,ecting oil price hikes...

  • Page 15
    ... Communication Equipment business amounted to ¥5,303 million (US$44.9 million). R&D expenses rose 5.8% to ¥30,347 million (US$257.1 million). R&D expenses amounted to 11.4% of net sales, up 0.1 percentage points. 5HWXUQRQ(TXLW\5HWXUQRQ$VVHWV     Cash Flows For the fiscal year...

  • Page 16
    ALPINE ELECTRONICS, INC. Consolidated Balance Sheets March 31, 2007 and 2006 Thousands of U.S. Dollars (Note 1) Millions of Yen ASSETS Current assets: Cash and cash equivalents Notes and accounts receivable (Note 3): Unconsolidated subsidiaries and affiliated companies Trade Allowance for ...

  • Page 17
    ... Current liabilities: Bank loans (Note 6) Long-term debt due within one year (Note 6) Notes and accounts payable (Note 3): Unconsolidated subsidiaries and affiliated companies Trade Income taxes payable (Note 11) Accrued expenses Deferred tax liabilities (Note 11) Warranty reserve Other current...

  • Page 18
    ..., INC. Consolidated Statements of Income Years ended March 31, 2007, 2006 and 2005 Thousands of U.S. Dollars (Note 1) Millions of Yen 2007 Net sales (Note 15) Costs and expenses (Note 15): Cost of sales Selling, general and administrative Operating income (Note 15) Other income (expenses...

  • Page 19
    ... Statements of Changes in Net Assets Years ended March 31, 2007 Millions of Yen Unrealized holding gains and losses Land on securities, Treasury net of income revaluation stock taxes loss Foreign currency translation adjustments Number of shares of common stock Common stock Capital surplus...

  • Page 20
    ...sale of property, plant and equipment Payments for acquisition of intangible fixed assets Proceeds from sale of investments in securities Payments for investment Gain on sale of investments in affiliated companies Payments for loans Collection of loans receivable Other-net Net cash used in investing...

  • Page 21
    ... are reported in the income statements. (2) Equity method Investments in affiliated companies (all companies 20% to 50% owned and certain others 15% to 20% owned) are accounted for by the equity method in the consolidated financial statements for 2007, 2006 and 2005. (3) Cash and cash equivalents...

  • Page 22
    ... Insurance amounting to ¥10 million (US$85 thousand). Also, on February 28, 2005, the Company made further changes in the retirement pension scheme, by introducing a new business annuity scheme, called the Cash Balance Plan. Based on the Defined Contribution Corporate Pension Law, the Company...

  • Page 23
    ...statements, has not been adapted to the new presentation rules of 2007. (18) Software costs The Company included software in other assets and depreciated it using the straight-line method over the estimated useful lives (from three to five years). (19) Derivative transactions and hedge accounting...

  • Page 24
    ... Bank Holiday As financial institutions in Japan were closed on March 31, 2007, ¥203 million of trade notes receivable and ¥ 35 million of trade notes payable maturing on March 31, 2007 were settled on the following business day and accounted for accordingly. 4. Securities Acquisition cost, book...

  • Page 25
    ... of Yen Thousands of U.S. Dollars 2007 Finished products Work in process Raw materials and supplies Total ¥20,937 1,425 6,471 ¥28,833 2006 ¥21,142 1,400 6,008 ¥28,550 2007 $177,357 12,071 54,816 $244,244 6. Bank Loans and Long-Term Debt Bank loans generally consisted of overdrafts from...

  • Page 26
    ...of U.S. Dollars 2007 Severance and retirement benefit expenses: Service costs - Benefits earned during the year Interest costs on projected benefit obligation Expected return on plan assets Amortization of prior service costs Amortization of actuarial differences Additional retirement benefit Other...

  • Page 27
    ... at least 10% of the aggregate amount of cash dividends and other cash appropriations as legal earnings reserve until the total of legal earnings reserve and additional paid-in capital equaled 25% of common stock. Under the Code, legal earnings reserve and additional paid-in capital could be used to...

  • Page 28
    ... financial statement purposes for the years ended March 31, 2006 and 2005. Reconciliation of the statutory tax rate and the Company's effective tax rate for the year ended March 31, 2007 was not required due to the small difference: 2006 Statutory tax rate Research and development cost tax credit...

  • Page 29
    ... dollars To sell Euro Total Over one year Fair value Recognized gains (losses) $65,057 39,712 $- - $65,201 39,864 $(144) (152) $(296) The fair values of forward foreign exchange contracts were estimated based on the market as of March 31, 2007 and 2006. The fair values of currency option...

  • Page 30
    ... be transferred to the lessees, are accounted for in the same manner as operating leases. At March 31, 2007 and 2006, the equivalent amounts of purchase price, accumulated depreciation and book value of leased properties were as follows: Millions of Yen Thousands of U.S. Dollars 2007 Purchase price...

  • Page 31
    ..., 2007. Reconciliation of the difference between basic and diluted net income per share (EPS) for the years ended March 31, 2006 and 2005 were as follows: Millions of yen Thousands of shares Weighted-average number of shares Yen EPS 2006 Net income Amounts not attributable to common stock (Bonuses...

  • Page 32
    ... and communication equipment business Elimination and/or corporate 2007 I. Sales and operating income Net sales: Outside customers Inter-segment Total Costs and expenses Operating income II. Identifiable assets Depreciation expense Capital expenditures Audio products business Total Consolidated...

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    ...,904 Note: DVD audio products were reported in Information and communication equipment business in the year ended March 31, 2006. From the year ended March 31, 2007 DVD audio products were classified as Audio products business. For comparative purposes, the business segment for the year ended March...

  • Page 34
    ....2% Thousands of U.S. dollars 2007 I. Overseas sales II. Consolidated sales III.Ratio of overseas sales (%) North America Europe Other areas Total $832,266 37.1% $877,374 39.1% $224,956 10.0% $1,934,596 2,245,277 86.2% Overseas sales consist of export sales by the Company and sales by the...

  • Page 35
    ... conformity with accounting principles generally accepted in Japan. Without qualifying our opinion, we draw attention to Note 15 of the consolidated financial statements. The Company reclassified the business segment of a part of products for the year ended March 31, 2007. The U.S. dollar amounts in...

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