Casio 2015 Annual Report Download

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Annual Report 2015
For the year ended March 31, 2015
Inventing New Ways to
Make Life Better
Profile
1 Profile
2 Business Overview
To Our Stakeholders
Casio's Strength
5 Casio's Strength
6 Six Global Timepiece Brands
Special Features
7 Timepieces
8 Calculators
9 Projectors
Financial Highlights
Management Foundation
11 Corporate Governance
13 Corporate Social Responsibility (CSR) Activities
Financial Section
15 Management’s Discussion and Analysis
16 Business Risks
18 Consolidated Five-Year Summary
19 Consolidated Balance Sheets
20 Consolidated Statements of Income and
Consolidated Statements of Comprehensive Income
21 Consolidated Statements of Changes in Net Assets
22 Consolidated Statements of Cash Flows
23 Notes to Consolidated Financial Statements
40 Independent Auditor’s Report
Corporate Data
41 Principal Subsidiaries / Directors and Statutory Auditors
42 Corporate Data / Investor Information
CONTENTS

Table of contents

  • Page 1
    Annual Report 2015 For the year ended March 31, 2015 Inventing New Ways to Make Life Better CONTENTS Profile 1 Profile 2 Business Oxerxiew Financial Highlights Management Foundation 11 Corporate Goxernance 13 Corporate Social Responsibility (CSR) Actixities 21 Consolidated Statements of Changes ...

  • Page 2
    ... desktop calculator released. • Casio stock transferred to the rst section of the Tokyo Stock Exchange. • Casio Mini, the world's rst personal electronic calculator, released. Casiotron digital watch released. Casiotone electronic keyboards released. First G-SHOCK shock-resistant watch...

  • Page 3
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 2 / 42 Corporate Data Financial Section Business Overview (Year ended March 31, 2015) Development and Production to Sales and Service in Three Segments Principal...

  • Page 4
    ...-end digital cameras and localized calculators designed for in-market needs in countries such as India and China. cost performance. In our new businesses, we will promote CASIO Signage, which is a powerful sales promotion tool. In addition, we will develop a highly original wrist terminal. The Casio...

  • Page 5
    ... a policy that links shareholder returns to performance. We are targeting increased profitability and return on equity (ROE). Moreover, we will increase cash dividends per share to ¥35.00 from ¥25.00 based on our robust results for fiscal 2015. Our new President and management organization will...

  • Page 6
    ... Management Foundation CONTENTS 5 / 42 Corporate Data Financial Section Casio's Strength High Profitability through Innovative Products Operating Profit Margin ROE Dividends (Performance in fiscal year ended March 31, 2015) 10.9 8.3 6.7 3.5 3.0 2011 2012 2013 2014 % 13.6 (%) 15 12 % 35...

  • Page 7
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 6 / 42 Corporate Data Financial Section Six Global Timepiece Brands Six Brands That Are Globally Synchronized and Totally Individualized Absolute Toughness Built...

  • Page 8
    ...-enabled watch that links with smartphones. This allows the wearer to use a the world. EDIFICE can also simultaneously display different times the timepiece business by expanding sales of high-end products. GPS HYBRID WAVE CEPTOR Casio has created the world's first hybrid solar timepiece that...

  • Page 9
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 8 / 42 Corporate Data Financial Section Special Feature â...¡: Calculators Expand the Calculator Business by Broadening the Lineup of Localized Products Scientific...

  • Page 10
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 9 / 42 Corporate Data Financial Section Special Feature â...¢: Projectors Expand the Projector Business with Our Cost-Competitive, Breakthrough Projector 20,000 ...

  • Page 11
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 10 / 42 Corporate Data Financial Section Financial Highlights Net Sales (Millions of Yen) 400,000 Overseas Sales Ratio (%) 80 Operating Income (Millions of Yen)...

  • Page 12
    ... business operations, and enhanced supervisory functions that ensure sound and transparent management in steadily achieving management goals and continuously increasing enterprise value. The Corporate Governance System Casio is a company with a Board of Statutory Auditors. The Board of Directors...

  • Page 13
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 12 / 42 Corporate Data Financial Section Corporate Governance 3. System of rules and other methods to manage the risk of Group losses (1) The Group has a system ...

  • Page 14
    Annual Report 2015 Pro le To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 13 / 42 Corporate Data Financial Section Corporate Social Responsibility (CSR) Activities Casio makes the most of its unique know-how and resources to fulfill its ...

  • Page 15
    .... Students who purchase the Casio FX-9860GIIs graphing calculator can receive SGD$60.00 cash back when they return their calculator to Casio Singapore upon graduation. Visit our website to learn more about the Casio Cares program and Casio's contribution to education. On August 7, 2014, Yamagata...

  • Page 16
    ..., and accounted for 84.8% of net sales. In the timepiece business, sales of the high-end G-SHOCK and OCEANUS lines, including the world's first GPS hybrid radio-controlled solarpowered watches, remained strong in Japan and overseas, driving substantial growth in overall sales. In addition, sales of...

  • Page 17
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 16 / 42 Corporate Data Financial Section Business Risks The management performance, financial position and share price of Casio Computer Co., Ltd. and its ...

  • Page 18
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 17 / 42 Corporate Data Financial Section Business Risks (8) Intellectual property The Group principally uses proprietary technologies, and protects these ...

  • Page 19
    ... Features Financial Highlights Management Foundation CONTENTS 18 / 42 Corporate Data Financial Section Consolidated Five-Year Summary Years ended March 31 Casio Computer Co., Ltd. and Consolidated Subsidiaries Millions of Yen 2015 For the year: Net sales ...Cost of sales ...Selling, general...

  • Page 20
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 19 / 42 Corporate Data Financial Section Consolidated Balance Sheets March 31, 2015 and 2014 Casio Computer Co., Ltd. and Consolidated Subsidiaries Millions of Yen...

  • Page 21
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 20 / 42 Corporate Data Financial Section Consolidated Statements of Income and Consolidated Statements of Comprehensive Income Years ended March 31, 2015 and 2014 ...

  • Page 22
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 21 / 42 Corporate Data Financial Section Consolidated Statements of Changes in Net Assets Years ended March 31, 2015 and 2014 Casio Computer Co., Ltd. and ...

  • Page 23
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 22 / 42 Corporate Data Financial Section Consolidated Statements of Cash Flows Years ended March 31, 2015 and 2014 Casio Computer Co., Ltd. and Consolidated ...

  • Page 24
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 23 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements Years ended March 31, 2015 and 2014 Casio Computer Co., Ltd. and Consolidated ...

  • Page 25
    ... values at year-end. Property, plant and equipment, except leased assets Property, plant and equipment is stated at cost. For the Company and its consolidated subsidiaries in Japan, depreciation is principally determined by the declining-balance method at rates based on estimated useful lives...

  • Page 26
    ... Management Foundation CONTENTS 25 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements Reclassifications Certain reclassifications have been made in the 2014 consolidated financial statements to conform to the 2015 presentation. Changes in accounting policies...

  • Page 27
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 26 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements 4. Inventories Millions of Yen Thousands of U.S. Dollars (Note 1) 2015 ...

  • Page 28
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 27 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements Thousands of U.S. Dollars (Note 1) For 2015 Book value Fair value ...

  • Page 29
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 28 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements (Note) 2: Financial instruments of which fair value is difficult to estimate ...

  • Page 30
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 29 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements (Note) 4: Bonds with subscription rights to shares and long-term loans payable...

  • Page 31
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 30 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements Millions of Yen 2014 Book value Acquisition cost Difference (3) Available-...

  • Page 32
    ... Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 31 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements 7. Derivative Transactions Derivative transactions not subject to hedge accounting...

  • Page 33
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 32 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements (2) Interest rate-related derivatives Millions of Yen 2015 8. Short-term ...

  • Page 34
    ..., 2015 and 2014: Millions of Yen Thousands of U.S. Dollars (Note 1) Line of credit ...Unused ... 2015 ¥57,196 57,196 2014 ¥57,300 57,300 2015 $476,633 476,633 Deferred tax assets: Net operating loss carryforwards ...Inventories ...Accrued expenses (bonuses to employees) ...Property, plant and...

  • Page 35
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 34 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements (3) Adjustments of amount of deferred tax assets and liabilities due to change...

  • Page 36
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 35 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements 5) Retirement benefit expenses Millions of Yen Thousands of U.S. Dollars (...

  • Page 37
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 36 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements 11. Net Assets Under the Japanese Corporation Law ("the Law") and regulations,...

  • Page 38
    ... services belonging to each reportable segment: Consumer...Watches, Clocks, Electronic dictionaries, Electronic calculators, Label printers, Electronic musical instruments, Digital cameras, etc. System Equipment ...Handheld terminals, Electronic cash registers, Office computers, Page printers, Data...

  • Page 39
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 38 / 42 Corporate Data Financial Section Notes to Consolidated Financial Statements Millions of Yen Millions of Yen Reportable segments For 2014 Consumer System...

  • Page 40
    .... 15. Impairment Loss For 2015 The Group posts impairment loss. Use Type of assets Location Business assets Idle assets Tools, furniture and fixtures, leased assets, etc. Land, buildings and structures Iruma City, Saitama Pref. and others Kawaguchi City, Saitama Pref. Ome City, Tokyo, and others...

  • Page 41
    Annual Report 2015 Profile To Our Stakeholders Casio's Strength Special Features Financial Highlights Management Foundation CONTENTS 40 / 42 Corporate Data Financial Section Independent Auditor's Report To the Board of Directors of CASIO COMPUTER Co., Ltd.: We have audited the accompanying ...

  • Page 42
    ... page printers Casio Techno Co., Ltd. Customer service for Casio products Casio Information Systems Co., Ltd. Sales of system equipment CXD NEXT Co., Ltd. Electronic settlements and support services for retail stores utilizing Casio's electronic cash registers Casio Human Systems Co., Ltd. Sales of...

  • Page 43
    .... Pleasant Avenue, Dover, New Jersey 07801, United States Tel: 973-361-5400 Casio Europe GmbH Casio-Platz 1 22848 Norderstedt, F.R. Germany Tel: 040-528-65-0 Stock Exchange Listings Tokyo Transfer Agent Sumitomo Mitsui Trust Bank, Limited Number of Shares Authorized: 471,693,000 shares Issued: 269...

  • Page 44
    CASIO COMPUTER CO., LTD. 6-2, Hon-machi 1-chome, Shibuya-ku, Tokyo 151-8543, Japan http://world.casio.com/