JVC 2002 Annual Report Download - page 32

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ANNUAL REPORT 2 0 0 23 0
Thousands of
U.S. dollars
Millions of yen (Note 1)
2 0 0 2 2001 2000 2 0 0 2
Net sales ¥954,172 ¥934,350 ¥870,235 $7,174,226
Costs and expenses:
Cost of sales 684,458 641,209 600,506 5,146,301
Selling, general and administrative expenses 281,808 287,449 277,748 2,118,857
966,266 928,658 878,254 7,265,158
Operating income (loss) (12 ,0 9 4 ) 5,692 (8,019) (9 0 ,9 3 2 )
Other income (expenses):
Interest and dividend income 1 ,1 0 8 2,509 2,408 8 ,3 3 1
Unrealized gain (loss) from changes in fair market values of trading securities (2 8 0 ) 9,749 16,386 (2 ,1 0 5 )
Equity in income of affiliated companies 6 3 173 36 474
Interest expense (4,447) (5,383) (6,178) (3 3 , 4 3 6 )
Gain on sales of investment securities 1 ,0 9 9 1,450 6,330 8 ,2 6 3
Loss on liquidation of subsidiaries and affiliated companies (1,059) (656) (451) (7 ,9 6 2 )
Restructuring charges (1 3 ,4 2 3 ) (2,197) (2,662) (1 0 0 ,9 2 5 )
Loss from write-down of investment in securities (7,691) (739) (550) (5 7 ,8 2 7 )
Other, net (1,722) (1,154) (1,212) (1 2 , 9 4 9 )
(2 6 ,3 5 2 ) 3,752 14,107 (1 9 8 ,1 3 6 )
Income (Loss) before income taxes and minority interests (3 8,44 6 ) 9,444 6,088 (2 8 9 ,0 6 8 )
Income taxes (Note 6):
Current 7 ,4 3 8 14,319 8,622 55,925
Deferred (1,453) (7,081) 2,673 (1 0 , 9 2 5 )
5 ,9 8 5 7,238 11,295 45,000
Income (Loss) before minority interests (44 ,4 3 1 ) 2,206 (5,207) (3 3 4 ,0 6 8 )
Minority interests (1 4 1 ) 292 (134) (1 ,0 6 0 )
Net income (loss) ¥ (44,572) ¥ 2,498 ¥ (5,341) $ (33 5 ,1 28 )
U.S. dollars
Yen (Note 2)
Amounts per share of common stock:
Net income (loss) ¥ (1 7 5 .3) ¥ 9.8 ¥ (21.0) $ (1 .3 2 )
Cash dividends applicable to the year —3.0 ——
See accompanying notes.
CONSOLIDATED STATEMENTS OF OPERATIONS
Victor Company of Japan, Limited and its consolidated subsidiaries
Years ended March 3 1, 2002, 2001 and 20 00