JVC 2005 Annual Report Download - page 44

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42 Victor Company of Japan, Limited
Thousands of
U.S. dollars
Millions of yen (Note 1)
2005 2004 2003 2005
Net sales ¥840,591 ¥921,978 ¥967,640 $7,855,991
Costs and expenses:
Cost of sales 564,977 629,125 668,821 5,280,159
Selling, general and administrative expenses 265,244 267,702 276,520 2,478,916
830,221 896,827 945,341 7,759,075
Operating income 10,370 25,151 22,299 96,916
Other income (expenses):
Interest and dividend income 688 711 949 6,430
Equity in income (loss) of affiliated companies 32 (24) 70 299
Interest expense (3,092) (2,840) (3,403) (28,897)
Gain on sales of investment securities 3,911 280 318 36,551
Gain on return of substitutional portion of Employees’ Pension Insurance —— 3,456 —
Loss on liquidation of subsidiaries and affiliated companies (16) (0) (170) (150)
Restructuring charges (57) (3,812) (3,785) (533)
Loss from write-down of investment in securities (349) (282) (5,408) (3,262)
Prior period patent royalty (263) (2,736) — (2,458)
Special retirement payments (6,530) (452) (4,260) (61,028)
Other, net 34 (1,890) (2) 319
(5,642) (11,045) (12,235) (52,729)
Income before income taxes and minority interests 4,728 14,106 10,064 44,187
Income taxes (Note 7):
Current 5,317 4,814 6,706 49,692
Deferred 883 (6,740) (3,138) 8,252
6,200 (1,926) 3,568 57,944
Income (Loss) before minority interests (1,472) 16,032 6,496 (13,757)
Minority interests (386) (423) (160) (3,607)
Net income (loss) ¥ (1,858) ¥015,609 ¥006,336 $ (17,364)
U.S. dollars
Yen (Note 1)
Amounts per share of common stock (Note 2):
Net income (loss) ¥ (7.7) ¥ 61.1 ¥ 24.9 $ (0.07)
Diluted net income —57.9 23.5 —
Cash dividends applicable to the year 5.0 5.0 — 0.05
See accompanying notes.
Consolidated Statements of Operations
Victor Company of Japan, Limited and its consolidated subsidiaries
Years ended March 31, 2005, 2004 and 2003