Canon 2002 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2002 Canon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

53
(3) Foreign Operations
Amounts included in the consolidated financial statements
relating to subsidiaries operating in foreign countries are summarized as follows:
Thousands of
Millions of yen U.S. dollars
2002 2001 2000 2002
Total assets ¥1,238,800 1,074,856 1,016,908 $ 10,323,333
Net assets 518,927 482,986 381,553 4,324,392
Net sales 2,151,062 2,048,993 1,864,123 17,925,517
Net income 58,883 31,903 37,519 490,692
(2) Financial Statement Translation
The consolidated financial statements presented herein are
expressed in yen and, solely for the convenience of the reader,
have been translated into United States dollars at the rate of
¥120 = U.S. $1, the approximate exchange rate prevailing on
the Tokyo Foreign Exchange Market on December 30, 2002.
This translation should not be construed as a representation that
the amounts shown could be converted into United States
dollars at such rate.
approval on February 14, 2003, were approved by the
government for an exemption from the obligation to pay
benefits for future employee service related to the substitutional
portion. Management plans to submit another application for
separation of the remaining substitutional portion (that is, the
benefit obligation related to past services). After Canon’s
applications are approved by the government, the remaining
benefit obligation of the substitutional portion (that amount
earned by past services) as well as the related
government-specified portion of the plan assets of the EPF will
be transferred to the government. The effect on Canon’s
consolidated financial statements of the transfer has not yet
been determined.
(w) Reclassification
Certain reclassification have been made to the prior years’
consolidated financial statements to conform the presentation
used for the year ended December 31, 2002.