Casio 2003 Annual Report Download - page 16

Download and view the complete annual report

Please find page 16 of the 2003 Casio 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 42

  • 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

Management’s Discussion and Analysis
14 CASIO COMPUTER CO., LTD.
NET SALES
Consolidated net sales climbed 15.3% year on year in fiscal 2003, to ¥440,567 million,
thanks to measures to achieve Group management targets, including the strategic promo-
tion and development of our timepiece, digital camera, and Mobile Network Solutions
(MNS) businesses as well as management rationalization through improvements in capital
efficiency and deep cuts to fixed costs.
Millions of yen
2003 2002
Electronics:
Consumer ............................................................................................ ¥142,486 ¥126,049
Timepieces ........................................................................................... 68,500 62,536
Mobile Network Solutions (MNS).......................................................... 87,819 52,216
System Equipment................................................................................ 51,340 58,202
Subtotal ........................................................................................... 350,145 299,003
Electronic Components and Others:
Electronic Components ........................................................................ 60,566 50,946
Others.................................................................................................. 29,856 32,205
Subtotal ........................................................................................... 90,422 83,151
Total ................................................................................................... ¥440,567 ¥382,154
Results by Segment Sales in the Electronics segment increased 17.1%, to ¥350,145
million, and accounted for 79.5% of net sales.
In the Consumer category of Electronics, sales advanced 13.0%, to ¥142,486 million,
due in large part to the enormously successful and widely praised EXILIM, the world’s
thinnest, high-resolution, credit card sized digital camera, which has won award after
award since its June 2002 launch.
To create new demand in the Timepieces category, Casio introduced developments
designed to take full advantage of its advanced technologies, including plans to upgrade
its entire line of wristwatches with a radio-controlled function for perfect accuracy and
solar-powered functions to make changing batteries a thing of the past. In November
2002, Casio boosted sales with the launch of The G, the new pinnacle product of the
flagship G-SHOCK series, which adds radio-controlled and solar-powered functions to
the exceptional shock resistance and unmistakable durability that are hallmarks of the
G-SHOCK line. Thanks in part to the acclaim earned by this hit product, sales of timepieces
rose 9.5%, to ¥68,500 million.
0
100
200
300
400
500
600
Net Sales
Billions of yen
’03’02’01’00’99