Nikon 1999 Annual Report Download

Download and view the complete annual report

Please find the complete 1999 Nikon 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 34

  • 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

precision
optical
ultra-high definition
industrial
focus
professional
capture
micro-technology
digital
annual report
2000
-1
1999
QX 33.nikon first 00.5.18 4:10 PM ページ 2

Table of contents

  • Page 1
    2000 -1 1999 annual report micro-technology ultra-high definition precision professional optical focus digital industrial capture

  • Page 2
    ... lens reï¬,ex (SLR) cameras, the Company manufactures a diverse range of industrial instruments, including steppers and other semiconductor manufacturing-related equipment, microscopes and measuring instruments. For the fiscal year ended March 31, 1999, the share of these industrial instruments...

  • Page 3
    ...nancial highlights Nikon Corporation and Consolidated Subsidiaries Years ended March 31, 1999 and 1998 Millions of Yen 1999 1998 Millions of U.S. Dollars 1999 % Decrease For the year Net sales Operating income (loss) Net income (loss) Per share of common stock (Yen and U.S. dollars): Net income...

  • Page 4
    ... of the year, conditions were generally favorable. In Asia, the economic depression persisted; nevertheless, some signs that the worst was over emerged. In Japan, while some parts of the economy began to benefit from extensive public-sector investment, a slump in private-sector capital investment...

  • Page 5
    ... to the IC and LCD Business Headquarters and Instruments Division. (3) Global Business At Nikon, we have come a long way in internationalizing our market presence. We have cultivated the Nikon brand name to the point where it commands worldwide recognition. However, our management perspective and...

  • Page 6
    ... Pronea S (ultrasonic motors) performed well, price erosion negatively affected sales of lenses as a whole. In compact cameras, the launch of new models such as the highperformance APS Nikon Nuvis S, which features a superior 3.0X zoom lens, helped boost sales. In digital cameras, the year saw the...

  • Page 7
    ... from the successful introduction of the Naturescope Farbel Mini (Naturescope Mini), a handheld outdoor model. OUTLOOK During the upcoming year, fiscal Nikon's domes-tic joint venture with the French firm COOLPIX950 Essilor should help raise profits in the ophthalmic lens business. In cameras, the...

  • Page 8
    ... and delivery lead times. Nikon is working to make ï¬,at-panel display exposure systems its second major line in this field. During the year, the company launched the FX-701M model, which boasts a much higher throughput. However, with Japan's LCD panel manufacturers all cutting back on capital...

  • Page 9
    ... three hold out the most promise: Projectors Nikon is supplying users with optics engines on an OEM basis, and is planning to develop whole projector systems under its own brand name. Linear-type ultrasonic actuators As well as being used in camera focusing units, where the principal motion involved...

  • Page 10
    ... T suruta Technology, Inform ation Sys tem , New Enterpris es , Im aging P roducts Bus ines s Kenji Enya International Bus ines s , Ophthalm ic P roducts Bus ines s MANAGING DIRECT ORS Yuji Obana Adm inis tration at Headquarters , Safety & Health, Dom es tic Sales , Advertis ing, Cus tom er Service...

  • Page 11
    ... on the back of s ucces s ful product launches and a U.S. cons um er s pending boom , ophthalm ic products s uffered as the dom es tic m arket contracted am id s lum ping dem and. With falling corporate profitability greatly res tricting capital inves tm ent budgets , s ales of indus trial ins trum...

  • Page 12
    ... em iconductor-related indus trial ins trum ents caus ed cons olidated net s ales in fis cal 1999 to fall 17.8% to ¥305.8 billion, equivalent to a drop of ¥66.4 billion. Falling revenues and lower m argins in the indus trial ins trum ents s ector im pacted the bottom line s everely, and Nikon pos...

  • Page 13
    ... in s hareholders ' equity of ¥10.1 billion. five-year s um m ary Nikon Corporation and Consolidated Subsidiaries For the years ended March 31 Thous ands of U.S. Dollars Millions of Yen 1999 For the year Net s ales Cos t of s ales SG&A expens es Operating incom e (los s ) Incom e (los s ) before...

  • Page 14
    ... heets Nikon Corporation and Cons olidated Subs idiaries At March 31, 1999 and 1998 Thous ands of U.S. Dollars (Note 1) 1999 Millions of Yen 1999 1998 ASSET S Current assets Cas h and tim e depos its Marketable s ecurities (Notes 3 and 5) Notes and accounts receivable - trade (Note 5): Cus tom ers...

  • Page 15
    Millions of Yen 1999 1998 Thous ands of U.S. Dollars (Note 1) 1999 LIABILIT IES AND SHAREHOLDERS' EQUIT Y Current liabilities Short-term borrowings (Notes 5 and 6) Current portion of long-term debt (Notes 5 and 7) Notes and accounts payable - trade: Suppliers Uncons olidated s ubs idiaries and as ...

  • Page 16
    cons olidated s tatem ents of operations Nikon Corporation and Cons olidated Subs idiaries For the years ended March 31, 1999, 1998 and 1997 Thous ands of U.S. Dollars (Note 1) 1997 1999 Millions of Yen 1999 1998 Net sales Cost of sales Gros s profi t ¥ 305,764 205,984 99,780 ¥372,145 224,545...

  • Page 17
    ... of s hareholders ' equity Nikon Corporation and Cons olidated Subs idiaries For the years ended March 31, 1999, 1998 and 1997 Thous ands Outs tanding Num ber of Shares of Com m on Stock (Note 8) Millions of Yen Com m on Stock (Note 8) Additional Paid-in Capital (Note 8) Retained Earnings (Notes...

  • Page 18
    ...Nikon Corporation and Cons olidated Subs idiaries For the years ended March 31, 1999, 1998 and 1997 Thous ands of U.S. Dollars (Note 1) 1997 1999 Millions of Yen 1999... in) operating activities Investing activities: Capital expenditures Decreas e in loans receivable Purchas es of inves tm ents in s ...

  • Page 19
    ... . The trans lations of J apanes e yen am ounts into U.S. dollar am ounts are included s olely for the convenience of readers outs ide J apan and have been m ade at the rate of ¥120.55 to U.S.$1, the approxim ate rate of exchange at March 31, 1999. Such trans lations s hould not be cons trued as...

  • Page 20
    ... trans fer owners hip of the leas ed property to the les s ee are to be capitalized, while other finance leas es are perm itted to be accounted for as operating leas e trans actions if certain "as if capitalized" inform ation is dis clos ed in the notes to the les s ee's financial s tatem ents...

  • Page 21
    ... am ounts and m arket values of m arketable s ecurities (current) and inves tm ents in s ecurities (non-current) at March 31, 1999 and 1998 were as follows : Millions of Yen 1999 1998 Thous ands of U.S. Dollars 1999 Current (m arket value available): Carrying am ount Aggregate m arket value Net...

  • Page 22
    ...including current portion ¥ 7,283 282 7,103 ¥14,668 $ 60,415 2,339 58,930 $121,684 6. SHORT-T ERM BORROWINGS Short-term borrowings at March 31, 1999 and 1998 cons is ted of the following: Millions of Yen 1999 1998 Thous ands of U.S. Dollars 1999 Short-term loans , principally from banks : 1999...

  • Page 23
    ... $ 212,369 746,577 958,946 (103,773) $ 855,173 The aggregate annual m aturities of long-term debt for the years following March 31, 1999 are as follows : Y ear Ending March 31 2000 2001 2002 2003 2004 Thereafter Thous ands of U.S. Dollars Millions of Yen ¥ 12,509 17,152 26,025 15,608 22,017...

  • Page 24
    ...is s ue price of new s hares , with a m inim um of the par value thereof, to be des ignated as s tated capital as determ ined by res olution of the Board of Directors . P roceeds in exces s of am ounts des ignated as s tated capital are credited to additional paid-in capital. The Code als o requires...

  • Page 25
    ...by the s traight-line m ethod was applied ¥4,735 m illion ( $39,282 thous and ) for the year ended March 31, 1999. The m inim um rental com m itm ents under noncancellable operating leas es at March 31, 1999 were as follows : Millions of Yen Thous ands of U.S. Dollars Due within one year Due after...

  • Page 26
    ... LIABILIT IES Contingent liabilities at March 31, 1999 were as follows : Millions of Yen Thous ands of U.S. Dollars As the endors er of trade notes receivable dis counted with banks As the guarantor of bank loans and indebtednes s , principally of em ployees , uncons olidated s ubs idiaries and as...

  • Page 27
    14. SEGMENT INFORMAT ION (a) Industry Segments Millions of Yen Total Cons um er products For the year ended March 31, 1999 Indus trial ins trum ents (Elim inations ) or corporate Cons olidated Net s ales Operating expens es Operating incom e (los s ) ¥ 139,204 136,683 ¥ 2,521 ¥ 166,560 177...

  • Page 28
    ... 46,912 460,271 ¥ ¥ Thous ands of U.S. Dollars J apan For the year ended March 31, 1999 North Am erica Europe As ia Total (Elim inations ) or corporate Cons olidated Net s ales Outs ide cus tom ers Inters egm ent s ales Total Operating expens es Operating incom e (los s ) $ $ 1,524,058 752,640...

  • Page 29
    (c) Export Sales For the years ended March 31, 1999, 1998 and 1997 Millions of Yen, % 1998 (A)/(B) Thous ands of U.S. Dollars 1999 1999 (A)/(B) 1997 (A)/(B) Export s ales (A) North Am erica Europe As ia Other Area Total ¥ 78,869 46,713 53,754 7,032 ¥ 186,369 25.8 % 15.3 17.6 2.3 61.0 % ¥99,...

  • Page 30
    independent auditors ' report To the Board of Directors of NIKON CORP ORATION: We ha ve e xa m in e d th e c on s olid a te d ba lan ce s h e e ts of NIKO N C O R P O R ATION an d c on s olid ate d s ub s id ia rie s a s o f Ma rc h 31, 1999 a nd 1998, a n d th e re late d c ons olid ate...

  • Page 31
    ...apan Tel: 03-3214-5311 MAJOR DOMEST IC SUBSIDIARIES Tochigi Nikon Corporation 770, Midori Otawara, Tochigi 324-8625 Tel: 0287-28-1111 Nikon Instech Co., Ltd. 4-25, Koraku 1-chom e, Bunkyo-ku, Tokyo 112-0004 Tel: 03-5802-0211 DOMEST IC OFFICE Os aka DOMEST IC PLANT S Ohi plant 6-3, Nis hiohi 1-chom...

  • Page 32
    ... Wes t, Singapore 189720 Tel: (65) 2978123 Nikon Optical Canada Inc. 5075 Fullum Street, Suite 100, Montreal, Quebec, Canada H2H 2K3 Tel: (1) 514-522-3301 Nikon AG Kas par-Fenner-Stras s e 6, 8700 Küs nacht/ZH, Switzerland Tel: (41) 1-913-61-11 Nikon Hong Kong Ltd. Suite 1001, 10F City P laza...

  • Page 33
    ... (As of March 31, 1999) Price Range of Common Stock ( ¥ ) 2,800 2,600 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 1s t 2nd 3rd 4th 1s t 2nd 3rd FY1999 4th FY1998 For further inform ation or additional copies of this annual report, pleas e contact the P ublic Relations Departm ent. 31

  • Page 34
    NIKON CORPORATION FUJI BLDG., 2-3, MARUNOUCHI 3-CHOME, CHIYODA-KU, TOKYO 100-8331, JAPAN TEL: 03-3214-5311 CABLE: NIKKO TOKYO TELEX: J22601 NIKON FAX: 03-3201-5856 Printed in Japan