Nikon 2005 Annual Report Download - page 23

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21
For the year
Net sales
Cost of sales
SG&A expenses
Operating income
Income (loss) before income taxes and minority interest
Net income (loss)
Per share of common stock (Yen and U.S. dollars):
Net income (loss)
Diluted net income
Cash dividends applicable to the year
Capital expenditures
Depreciation and amortization
R&D costs
At year-end
Total assets
Shareholders’ equity
Notes: 1. Per share of common stock is computed based on the weighted average number of shares outstanding during the year.
2. U.S. dollar figures are translated for reference only at ¥107.39 to U.S. $1.00, the exchange rate at March 31, 2005.
3. Diluted net income per share for the year ended March 31, 2003 and 2002 is not disclosed because of the Company’s net loss position.
Diluted net income per share for the year ended March 31, 2001 is not disclosed because it was anti-dilutive.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF OPERATIONS OPERATING ENVIRONMENT
In the fiscal year ended March 31, 2005, the U.S. economy progressed strongly on the back of increased consumer spending, higher levels of
capital investment and improved corporate performance. The European economy slowed on the whole, except for England, while the Asian
economy continued to expand, particularly China.
Despite signs of a slowdown in the second half, the Japanese economy in general was on a track to recovery due to an upward trend in
private capital investment and a gradual increase in consumer spending.
With regard to Nikon Group business segments, in Precision Equipment and Instruments, recovery in the semiconductor market and
expansion of the LCD market spurred revitalized capital investment. In Imaging Products, the digital camera market continued to grow.
Precision Equipment
Share of net sales
Imaging Products
Share of net sales
Instruments
Share of net sales
Other
Share of net sales
Total
(Elimination)
Consolidated
Net Sales by Industry Segment
Years ended March 31, 2005 and 2004
Thousands of
U.S. Dollars
2005
$ 5,945,324
3,996,117
1,664,776
284,431
311,419
224,802
$0.61
0.54
0.07
$ 209,134
183,486
312,514
$ 5,898,374
1,825,404
2001
¥ 483,957
301,759
120,775
61,423
29,827
20,911
¥ 56.53
8.00
¥ 25,996
16,007
22,794
¥ 593,454
186,119
2002
¥ 482,975
306,793
153,943
22,239
2,755
(6,004)
¥ (16.23)
4.00
¥ 33,546
17,917
27,313
¥ 561,276
176,961
2003
¥ 468,959
307,503
157,269
4,187
(11,128)
(8,143)
¥ (22.03)
¥ 20,226
20,435
27,506
¥ 576,912
162,464
2004
¥ 506,378
346,898
155,805
3,675
9,490
2,410
¥ 6.52
6.02
4.00
¥ 22,267
20,213
30,165
¥ 606,513
171,194
2005
¥ 638,468
429,143
178,780
30,545
33,443
24,141
¥ 65.19
57.84
8.00
¥ 22,459
19,705
33,561
¥ 633,426
196,030
Millions of Yen
Thousands of
U.S. Dollars
2005
$ 1,995,772
3,310,264
485,930
412,075
$ 6,204,041
(258,717)
$ 5,945,324
2004
¥ 158,054
31.2%
284,713
56.2
47,992
9.5
39,643
7.8
¥ 530,402
(24,024)
(4.7)
¥ 506,378
2005
¥ 214,326
33.6%
355,489
55.7
52,184
8.2
44,253
6.9
¥ 666,252
(27,784)
(4.4)
¥ 638,468
Millions of Yen, %
five-year summary
Nikon Corporation and Consolidated Subsidiaries
Years ended March 31
management’s discussion and analysis of operations