Fujitsu 2014 Annual Report Download - page 106

Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2010 2011 2012 2013 2014 2014
Net sales ¥4,679,519 ¥4,528,405 ¥4,467,574 ¥4,381,728 ¥4,762,445 $46,237,330
Operating income 94,373 132,594 105,304 88,272 142,567 1,384,146
Operating income margin 2.0% 2.9% 2.4% 2.0% 3.0%
Income (loss) before income taxes
and minority interests 112,706 102,236 66,717 (52,119) 92,934 902,272
Net income (loss) 93,085 55,092 42,707 (79,919) 48,610 471,942
Return on equity 12.0% 6.8% 5.1% (11.8%) 8.1%
Comprehensive income — 38,790 34,310 (80,616) 104,907 1,018,515
Ratio of net sales outside Japan 37.4% 35.1% 33.7% 34.2% 37.8%
EMEA ¥ 981,622 ¥ 845,485 ¥ 809,277 ¥ 768,149 ¥ 926,005 $ 8,990,340
The Americas 321,603 322,272 286,595 287,742 387,444 3,761,592
APAC & China 445,079 419,606 410,224 442,324 488,042 4,738,272
Total of net sales outside Japan by
customers’ geographic location ¥1,748,304 ¥1,587,363 ¥1,506,096 ¥1,498,215 ¥1,801,491 $17,490,204
Amounts per share of common stock
(Yen and U.S. Dollars):
Earnings (loss)
— Basic ¥ 45.21 ¥ 26.62 ¥ 20.64 ¥ (38.62) ¥ 23.49 $ 0.228
— Diluted 42.17 25.75 20.55 — 23.49 0.228
Owners’ equity 386.79 396.81 406.42 301.57 277.03 2.690
Total assets ¥3,228,051 ¥3,024,097 ¥2,945,507 ¥2,920,326 ¥3,079,534 $29,898,388
Net assets 948,373 953,779 966,598 752,438 702,449 6,819,893
Owners’ equity 798,662 821,244 841,039 624,045 573,211 5,565,155
Remeasurements of defined
benefit plans, net of taxes — — — (149,724) (321,567) (3,122,010)
Owners’ equity ratio 24.7% 27.2% 28.6% 21.4% 18.6%
Cash and cash equivalents ¥ 420,166 ¥ 358,593 ¥ 266,698 ¥ 284,548 ¥ 301,162 $ 2,923,903
Interest-bearing loans 577,443 470,823 381,148 534,967 519,640 5,045,049
D/E ratio (times) 0.72 0.57 0.45 0.86 0.91
Free cash flow 296,409 113,426 49,180 (90,471) 46,659 453,000
Cash dividends per share for the year
(Yen and U.S. Dollars) ¥ 8.00 ¥ 10.00 ¥ 10.00 ¥ 5.00 ¥ 4.00 $ 0.039
[Interim cash dividends per share for the
year (Yen and U.S. Dollars)]
[3.00] [5.00] [5.00] [5.00] [—] [—]
Dividend payout ratio on a
consolidated basis 17.7% 37.6% 48.4% — 17.0%
R&D expenses ¥ 224,951 ¥ 236,210 ¥ 238,360 ¥ 231,052 ¥ 221,389 $ 2,149,408
Capital expenditure on property, plant
and equipment 126,481 130,218 140,626 121,766 122,282 1,187,204
Depreciation 164,844 141,698 131,577 116,565 115,180 1,118,252
Number of employees 172,438 172,336 173,155 168,733 162,393
Average exchange rate (yen):
U.S. Dollar ¥ 93 ¥ 86 ¥ 79 ¥ 83 ¥ 100
Euro 131 113 109 107 134
Pound Sterling 148 133 126 131 159
Notes: 1. The U.S. dollar amounts stated above and in the following Management’s Discussion and Analysis of Operations have been translated from yen, for readers’ convenience
only, at the rate of ¥103 = US$1, which was the approximate rate on the Tokyo Foreign Exchange Market at March 31, 2014.
2. Owners’ equity: Net assets less minority interests in consolidated subsidiaries and subscription rights to shares.
3. Comprehensive income: Amounts for the year ended March 31, 2010 are not presented above, as the Company applied “Accounting Standard for Presentation of Compre-
hensive Income” (Accounting Standards Board of Japan, Statement No. 25) effective from the year ended March 31, 2011.
4. Diluted earnings per share and dividend payout ratio on a consolidated basis for the year ended March 31, 2013 are not disclosed due to the recording at net losses.
5. The Company’s consolidated subsidiaries outside Japan have applied IAS 19 “Employee Benefits” (issued June 16, 2011) at the beginning of the year ended March 31, 2014. These
changes in accounting policies are applied retrospectively, and the following items for the year ended March 31, 2013 and March 31, 2014 reflect this retrospective application:
Operating income, Operating income margin, Income (loss) before income taxes and minority interests, Net income (loss), Return on equity, Comprehensive income,
Earnings (loss) per share, Owner’s equity per share, Total assets, Net assets, Owner’s equity, Remeasurements of defined benefit plans, net of taxes, Owner’s equity ratio
and D/E ratio.
6. Unrecognized defined benefit obligations such as actuarial gains and losses, are recognized under net assets, adjusted for tax effects, as remeasurements of defined
benefit plans, net of taxes, as a result of application of changes in the accounting standards both in Japan and outside Japan.
The Company’s consolidated subsidiaries outside Japan have applied IAS 19 “Employee Benefits” (issued June 16, 2011) at the beginning of the year ended March
31, 2014. IAS 19 is applied retrospectively for the year ended March 31, 2013, as a comparative information.
At the end of the year ended March 31, 2014, the Company and its consolidated subsidiaries in Japan applied “Accounting Standard for Retirement Benefits”
(Accounting Standards Board of Japan, Statement No. 26, issued May 17, 2012). Retrospective application for that change is not made in accordance with the provision
for transitional treatment as stated in the Accounting Standard for Retirement Benefits.
FIVE-YEAR SUMMARY
Fujitsu Limited and Consolidated Subsidiaries
104 FUJITSU LIMITED ANNUAL REPORT 2014