Mitsubishi 2004 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2004 Mitsubishi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 74

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74

58
23. (LOSS) INCOME AND EQUITY PER SHARE
Net (loss) income and equity per share for the years ended March 31, 2004 and 2003 are summarized as follows:
In yen In U.S. dollars
2004 2003 2004
Net (loss) income per share
Basic ¥(145.22) ¥ 25.35 $(1.37)
Diluted —23.43 —
Stockholders’ equity per share 20.20 188.95 0.19
Diluted amounts per share are not included for the year ended March 31, 2004 due to the net loss recorded.
The computation of net (loss) income per share for the years ended March 31, 2004 and 2003 is as follows:
In millions of yen In thousands of
U.S. dollars
2004 2003 2004
Numerator for basic net income per share:
Net (loss) income ¥(215,424) ¥37,361 $(2,038,263)
Income not available to common stockholders ———
Income available to common stockholders ¥(215,424) ¥37,361 $(2,038,263)
Denominator for net income per share:
Weighted average number of shares (in thousands) 1,483,429 1,473,719 1,483,429
24. SIGNIFICANT SUBSEQUENT EVENTS
1. Business Revitalization Plan
On May 21, 2004, a Business Revitalization Plan (from fiscal 2004 to 2006), which includes the restructuring of production
bases and headcount adjustments, was approved by the Board of Directors and publicly announced.
Additional measures to achieve the Business Revitalization Plan were approved by the Board of Directors on June 16, 2004
and announced to the public.
The new measures are in response to a potential marked slump in domestic sales that surfaced following the recent recall
problems at MMC and MFTBC.
2. Capital enhancement through share issue (excluding beneficial share issue)
The allocation of new shares to third parties, one of the measures of the business revitalization plan, was approved by the Board
of Directors on May 21 and June 8, 2004 as follows:
a. Mitsubishi Motors Corporation’s No. 1 Class-A preferred stock
Number of stocks issued: 130,000 shares
Issue price: ¥1 million per share
Amount to record as share capital: ¥65,000 million ($615,006 thousand)
Share proceeds: ¥130,000 million ($1,230,012 thousand)
Payment date: June 24, 2004 (Thursday)
Placement method: Allocation to the following parties:
Mitsubishi Heavy Industries, Ltd. 40,000 shares
Mitsubishi Corporation 40,000 shares
The Bank of Tokyo-Mitsubishi, Ltd. 40,000 shares
The Mitsubishi Trust and Banking Corporation 10,000 shares