JVC 2006 Annual Report Download - page 43

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Victor Company of Japan, Limited 41
’02 ’03 ’04 ’05 ’06 ’02 ’03 ’04 ’05 ’06’02 ’03 ’04 ’05 ’06
300
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100
0
400
500
10
0
20
40
30
10
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20
30
Stockholders’ Equity/
Total Assets
(Billions of yen)
R&D Expenditures
(Billions of yen)
Depreciation and Amortization/
Capital Expenditures
(Billions of yen)
Stockholders’ equity
Total assets
Depreciation and amortization
Capital expenditures
production facilities at the Company’s Yokosuka Plant for
HD-ILA hybrid projection TV devices.
Depreciation and amortization increased 14.6%, to ¥26.8
billion.
R&D Expenditures
In fiscal 2006, R&D expenditures amounted to ¥38.7 billion,
representing a 1.6% decline from the previous fiscal year
and a ratio to net sales of 4.8%.
Personnel
The number of JVC employees on a consolidated basis at
fiscal year-end totaled 30,481, a decrease of 4,012 employ-
ees compared to the previous fiscal year-end, which was
mainly due to structural reform.
Net cash used in investing activities came to ¥25.3 bil-
lion, up from ¥13.9 billion in the previous fiscal year, primari-
ly due to purchases of property, plant and equipment
amounting to ¥27.5 billion.
Net cash used in financing activities totaled ¥2.8 billion,
down from ¥15.6 billion in the previous fiscal year. This was
largely a result of a ¥26.0 billion rise in short-term bank
loans, net, and ¥30.0 billion in proceeds from long-term
loans, which largely offset ¥56.3 billion in repayments of
long-term loans and redemption of bonds.
As a result, cash and cash equivalents at the end of fiscal
2006 came to ¥60.1 billion, down ¥2.6 billion from the end
of the previous fiscal year.
Capital Expenditures/Depreciation and Amortization
In fiscal 2006, capital expenditures rose 1.8% from the pre-
vious fiscal year, to ¥29.5 billion. This increase primarily
reflects investments in development facilities related to the
shift to a new technology center building at the Company’s
Head Office complex in Yokohama aimed at strengthening
product development capabilities and investments in