Nikon 2003 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2003 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 46

  • 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

19
FINANCIAL REVIEW AND ANALYSIS
As of the fiscal year-end, total assets amounted to ¥576.9 billion, up ¥15.6 billion, or 2.8%, relative to the previous fiscal year-end. This
increase mainly reflected higher inventories. Current assets rose by 5.6%, or ¥20.7 billion.
Increases in trade payables and interest-bearing liabilities resulted in an overall increase in total liabilities of ¥30.1 billion.
The combined effects of an unrealized loss on available-for-sale securities and a net loss for the year of ¥8.1 billion resulted in a net
decrease in total shareholders’ equity of ¥14.5 billion.
In terms of cash flows, cash and cash equivalents at year-end amounted to ¥23.7 billion. Despite an increase in inventories, higher
depreciation and amortization and increased trade payables resulted in a net cash inflow due to operating activities of ¥9.4 billion. Net cash
used in investing activities to fund capital expenditure, mainly related to expansion of production capacity, amounted to ¥18.5 billion. Net cash
provided by financing activities amounted to ¥8.6 billion, principally due to issuance of straight bonds.
NET SALES
(¥ Billion)
OPERATING INCOME (LOSS)
(¥ Billion)
NET INCOME (LOSS)
(¥ Billion)
1999
2000
2001
2002
2003
305.8
371.8
484.0
483.0
469.0
1999
2000
2001
2002
2003
(8.7)
18.4
61.4
22.2
4.2
1999
2000
2001
2002
2003
(18.2)
7.8
20.9
(6.0)
(8.1)
1999
2000
2001
2002
2003
(49.3)
21.0
56.5
(16.2)
(22.0)
1999
2000
2001
2002
2003
20.7
13.9
26.0
33.5
20.2
1999
2000
2001
2002
2003
18.7
17.8
22.8
27.3
27.5
1999
2000
2001
2002
2003
161
166.5
186.1
177.0
162.5
1999
2000
2001
2002
2003
(11.0)
4.7
11.9
(3.3)
(4.8)
NET INCOME (LOSS)
per Share (¥)
CAPITAL EXPENDITURES
(¥ Billion)
SHAREHOLDERS’ EQUITY
(¥ Billion)
RETURN ON EQUITY
(%)
R&D COSTS
(¥ Billion)