Casio 2000 Annual Report Download - page 18

16
CONSOLIDATED FINANCIAL REVIEW
RESULTS OF OPERATIONS
ANALYSIS OF NET SALES In the fiscal year ended March
31, 2000, net sales declined 9.0% to ¥410,338 million.
Overseas sales declined 13.0%, with the overseas sales
ratio down 2.0 percentage points to 43.7%, reflecting the
adverse impact of the appreciation of the yen.
Sales declined in every major overseas market: by 12.4%
in North America, which accounted for 36.3% of overseas
sales; by 21.1% in Europe, which made up 24.3% of over-
seas sales; and by 7.8% in Asia, excluding Japan, and other
regions, which represented 39.4% of overseas sales.
Domestic sales were down 5.7% and accounted for
56.3% of net sales. However, domestic sales recorded
growth in every category except Electronic Timepieces.
Sales in the Data Processing Equipment category de-
clined 2.6%, as a 9.2% decline in overseas sales offset a
1.9% rise in domestic sales. In Japan, growth was supported
by strong performance in electronic dictionaries and im-
proved results of system equipment, due in part to growth
of high-speed color page printers targeting business users.
Office computers and systems, including ADPS for strate-
gic personnel management, also contributed to growth.
Favorable performance in these product groups was partial-
ly offset by weakness in consumer products, especially
word processors.
In the Electronic Timepieces category, sales fell 32.9%
as a result of stagnant markets in Japan and overseas, and
the effect of the stronger yen on overseas sales. Domestic
sales fell 40.0% and overseas sales declined 28.3%.
Sales of Visual and Communications Equipment rose
2.3%. Domestic sales for the category increased 1.0%, as
sharp declines in PHS handsets and weak performance in
digital cameras were offset by the successful launch of
Casio’s first cellular handset, a water- and shock-resistant
model for the IDO/DDI Cellular Group’s cdmaOneTM ser-
vice, and strong sales performance of CASSIOPEIA®
Pocket PCs. Overseas sales advanced 3.2%, despite the ad-
verse impact of the yen’s appreciation, supported by the
market success of CASSIOPEIA®information appliances.
Sales in the Electronic Components and Others category
increased 2.9%. Casio’s proprietary HAST-LCDs have a
dominant share of the small and medium-sized display
market, and sales increased during the term from robust
demand for digital camcorders and cameras. Sales of con-
necting devices for high-density mounting also increased,
backed by rapid expansion in the cellular phone and note-
book PC markets. Although electronic musical instrument
sales recorded steady growth thanks to favorable results of
SALES BY PRODUCT CATEGORY
Millions of yen
2000 1999 1998
Data processing equipment ¥151,735 ¥155,848 ¥143,205
Domestic 93,625 91,876 80,059
Overseas 58,110 63,972 63,146
Electronic timepieces 84,458 125,793 164,223
Domestic 29,244 48,737 77,384
Overseas 55,214 77,056 86,839
Visual andcommunicationsequipment 49,091 47,982 63,197
Domestic 20,003 19,809 26,125
Overseas 29,088 28,173 37,072
Electronic components and others 125,054 121,518 131,387
Domestic 88,309 84,758 84,634
Overseas 36,745 36,760 46,753
Total ¥410,338 ¥451,141 ¥502,012
Domestic 231,181 245,180 268,202
Overseas 179,157 205,961 233,810