Nikon 2000 Annual Report Download
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Table of contents
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Page 1
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Page 2
FOCUSING ON HELPING PEOPLE ENVISION THE WORLD
Since our establishment in 1917, Nikon Corporation has been a leading pioneer in optical glass manufacturing technology in Japan. In addition to our distinctive lineup of single lens reflex (SLR) cameras, Nikon manufactures a wide range of industrial ...
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Page 3
...-Year Summary Management s Discussion and Analyisis of Operations Consolidated Balance Sheets Consolidated Statements of Operations Consolidated Statements of Shareholders Equity Consolidated Statements of Cash Flows Notes to Consolidated Financial Statements Independent Auditors Report Corporate...
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Page 4
..., we merged our ophthalmic lens business in a joint venture with Essilor International S.A. of France. The full benefits of the implementation of the in-house company system are expected to become evident in fiscal year 2001. From this year, we plan to begin managing the Nikon Group with the various...
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Page 5
... as individual employees and group firms to realize both the spirit and foundation of our corporate vision. Our two major business domains are focused within the visual imaging field, chiefly cameras, and high-tech industry related fields, mainly steppers. Vision Nikon 21 sets out the direction we...
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Page 6
...Nikon D1
BUSINESS RESULTS In the fiscal year ended March 31, 2000, divisional sales rose 8.0% to ¥150,288 million, producing operating income of ¥8,912 million. IMAGING PRODUCTS In single-lens reflex (SLR) cameras, sales of the F100 camera for advanced amateur photographers in Japan and overseas...
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Page 7
... lens business, Nikon's joint venture with French firm Essilor, Nikon-Essilor Co., Ltd., commenced operations in January 2000. In binocular and telescope products, the TRAVELITE V series of compact binoculars, which employ aspherical lenses, performed well in overseas markets. In addition, models...
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Page 8
... strong capital investment by overseas LCD panel manufacturers. A rationalization of the product lineup reduced sales of IC inspection systems. However, Nikon also started taking orders for the NRM-1000 model, which combines inspection functions with the ability to monitor and manage lithographic...
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Page 9
...both the Kumagaya Plant and at Tochigi Nikon Corporation. In addition, to support higher sales and service the projected increased in demand for steppers in the fastgrowing Southeast Asian market, Nikon established a local sales and customer service support company, Nikon Precision Singapore Pte Ltd...
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Page 10
...,
Hideo Ikeda
Meiji Life Insurance Company
Chief Ofï¬cer of Core Technology Center STANDING CORPORATE AUDITORS DIRECTORS
Akinori Kiribuchi Yoshiro Imagawa Tomochika Nakano
General Manager of Sales & Marketing Headquarters of Precision Equipment Company CORPORATE AUDITORS
Takuji Shidachi Michio...
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Page 11
... levels of capital investment. In Europe, exports recovered on the back of the weakness of the euro, and conditions were generally favorable. In Asia, rising exports helped to support higher levels of manufacturing activity, and many economies in the region staged a ï¬rm recovery. In Japan, however...
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Page 12
... (6.0)
Balance Sheet Analysis At March 31, 2000 and 1999
2000 (% of Total Assets) 1999
Total assets Total current assets Inventories Property, plant and equipment Investments and other assets Total current liabilities Short-term borrowings Long-term debt, less current portion Shareholders' equity...
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Page 13
... net income level boosted shareholders' equity by ¥7.8 billion. In net terms, total shareholders' equity increased by ¥5.5 billion. Cash and cash equivalents at the year-end amounted to ¥32.6 billion. As a result of the various measures taken to boost earnings, to reform management structures and...
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Page 14
CONSOLIDATED BALANCE SHEETS
Nikon Corporation and Consolidated Subsidiaries March 31, 2000 and 1999
Millions of Yen 2000 1999
Thousands of U.S. Dollars (Note 1) 2000
ASSETS Current assets Cash and cash equivalents Marketable securities (Notes 3 and 5) Notes and accounts receivable - trade (Note ...
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Page 15
...
Commitments and Contingent liabilities (Notes 9,10 and 11)
Shareholders' equity Common stock (Note 6): ¥50 par value per share Authorized - 1,000,000,000 shares Issued and outstanding - 369,927,584 shares in 2000 and 1999 Additional paid-in capital (Note 6) Retained earnings (Notes 6 and 12) 36...
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Page 16
... 7): Current Deferred
11,479
(17,447)
108,136
4,740 (1,032)
1,499 (710)
44,651 (9,725)
Minority interest Net income (loss) ¥
1 7,770
(3) ¥ (18,233) $
9 73,201
Yen
U.S. Dollars (Note 1)
Per share of common stock (Note 2 (m)): Net income (loss) Cash dividends applicable to the year
See...
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Page 17
... STATEMENTS OF SHAREHOLDERS' EQUITY
Nikon Corporation and Consolidated Subsidiaries Years ended March 31, 2000 and 1999
Thousands Outstanding Number of Shares of Common Stock
Millions of Yen
Common Stock
Additional Paid-in Capital
Retained Earnings
Treasury Stock
BALANCE, APRIL 1, 1998...
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Page 18
CONSOLIDATED STATEMENTS OF CASH FLOWS
Nikon Corporation and Consolidated Subsidiaries Years ended March 31, 2000 and 1999
Millions of Yen 2000 1999
Thousands of U.S. Dollars (Note 1) 2000
Operating activities: Income (loss) before income taxes and minority interest Adjustments for: Income taxes-...
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Page 19
... statements issued domestically in order to present them in a form which is more familiar to readers outside Japan. Effective April 1, 1999, consolidated statements of cash ï¬,ows are required to be prepared under Japanese accounting standards, and those for the years, ended March 31, 2000 and...
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Page 20
... into Japanese yen at the current exchange rates except for shareholders' equity, which is translated at the historical exchange rates. The differences resulting from such translations are reï¬,ected in the consolidated balance sheets as investments and other assets. (m) Per Share Information 18...
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Page 21
... balance sheets principally consists of non-marketable securities for which there is no readily-available market from which to obtain or calculate the market value thereof. Due to the change in the Companies' investment policy during the year ended March 31, 2000, the Company reclassiï¬ed corporate...
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Page 22
... U.S. Dollars 2000
Â¥ 71,558
Â¥ 74,666
$ 674,118
32,000 ¥106,666
131,889 $ 806,007
Millions of Yen 2000 1999
Loans, principally from banks and insurance companies: 2000: 1.18%-9.185% due 2000-2006 1999: 1.13%-9.185% due 2000-2006 Bonds ¥ 21,167 90,000 111,167 Less: Current portion Long-term...
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Page 23
... of Yen Thousands of U.S. Dollars
Short-term borrowings Other current liabilities Long-term debt, including current portion
Â¥
2,266 188 3,880
$
21,348 1,771 36,554
Â¥
6,334
$
59,673
As is customary in Japan, the Company maintains substantial deposit balances with banks with which it has...
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Page 24
...for dividends, to stated capital by resolution of the shareholders. Under the Code, the Company may issue new shares of common stock to existing shareholders without consideration as a stock split pursuant to resolution of the Board of Directors. The Company may make such a stock split to the extent...
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Page 25
... ownership of the leased property to the leasee on an "as if capitalized" basis for the years ended March 31, 2000 and 1999 were as follows:
Millions of Yen Thousands of U.S. Dollars
2000
Machinery and Equipment Furniture and Fixtures Machinery and Equipment
2000
Furniture and Fixtures
Total...
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Page 26
...ected on the balance sheet at year end are not subject to the disclosure of market value information. 11. CONTINGENT LIABILITIES Contingent liabilities at March 31, 2000 were as follows:
Millions of Yen Thousands of U.S. Dollars
As the endorser of trade notes receivable discounted with banks As the...
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Page 27
... On June 29, 2000, the Company's shareholders approved appropriations of retained earnings as follows:
Thousands of Millions of Yen U.S. Dollars
Cash dividends Bonuses to directors and corporate auditors
¥ 925 30 ¥ 955
$ 8,712 283 $ 8,995
13. SEGMENT INFORMATION (a) Industry Segments
Millions...
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Page 28
...946
Â¥
432,364
Â¥
42,601
Â¥ 474,965
Thousands of U.S. Dollars Japan For the year ended March 31, 2000 North America Europe Asia Total (Eliminations) or corporate Consolidated
Net sales Outside customers Intersegment sales Total Operating expenses Operating income $ $ 2,064,891 1,074,826 3,139...
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Page 29
(c) Export Sales
For the years ended March 31, 2000 and 1999 Millions of Yen, % (A)/(B) 1999 Thousands of U.S. Dollars 2000
2000
(A)/(B)
Export sales (A) North America Europe Asia Other Area Total ¥ 95,557 52,002 95,195 4,436 ¥247,190 25.7 % 14.0 25.6 1.2 66.5 % ¥ 78,869 46,714 53,754 7,032 ¥...
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Page 30
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Page 31
...-6300
Kurobane Nikon Co., Ltd.
Nikon Sales-Promotion Co., Ltd.*
1434, Oaza-kurobanemuko-machi, Kurobane-machi, Nasu-gun, Tochigi 324-0241 Tel: 0287-53-1111
4-25, Nishiohi 1-chome, Shinagawa-ku, Tokyo 140-0015 Tel: 03-5709-8281
Kumagaya Plant
Nikon Logistics Corporation* Sagami Optical Co., Ltd...
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Page 32
...(420) 2-67154560
Nikon Research Corporation of America*
1399 Shoreway Road, Belmont, CA 94002-4107, U.S.A. Tel: (1) 650-508-4674
Nikon Europe B.V.
Nikon Singapore Pte Ltd
Nikon (Thailand) Co., Ltd.
Schipholweg 321, 1171 PL Badhoevedorp, The Netherlands Tel: (31) 20-4496 222
150 Beach Road #30...
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Page 33
... 2.16
Stock Exchange Listings Tokyo, Osaka, Kyoto, Fukuoka, Sapporo Transfer Agent and Registrar The Mitsubishi Trust and Banking Corporation 11-1, Nagatacho 2-chome, Chiyoda-ku, Tokyo 100-8212, Japan Tel: 03-3212-1211 (As of March 31, 2000)
Price Range of Common Stock (Â¥)
4,400 4,200 4,000 3,800...
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