Nikon 2006 Annual Report Download - page 29

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27
FINANCIAL REVIEW AND ANALYSIS
At fiscal year-end, total assets amounted to ¥690,920 million, up ¥57,494 million, or 9.1%, relative to the previous fiscal year-end. This
increase primarily reflected higher levels of cash and cash equivalents and accounts receivable. Current assets totaled ¥469,105 million, up
8.8%.
Liabilities increased by ¥10,405 million as the Company reclassified certain outstanding bonds to corporate bonds with redemption due
within one year.
Total cash dividends for the year amounted to ¥2,955 million. Meanwhile, net income of ¥28,945 million and an increase in retained earn-
ings resulted in a net increase in total shareholders' equity of ¥47,092 million.
In terms of cash flows, cash and cash equivalents at year-end amounted to ¥44,472 million. Net cash provided by operating activities
totaled ¥63,744 million, mainly owing to a relatively high level of income before income taxes, a substantial decrease in inventories and an
increase in notes and accounts payable. Net cash used in investing activities amounted to ¥22,427 million, reflecting a decrease in proceeds
from sales of property, plant and equipment and an increase in payments for purchases of tangible fixed assets. Net cash used in financing
activities totaled ¥20,515 million, due to an increase in proceeds from long-term debt, despite a significant decrease in short-term borrowings,
and to the absence of payments for the redemption of corporate bonds, which occurred in the previous year.
Net Sales
(¥ Million)
Operating Income
(¥ Million)
Net Income (Loss)
(¥ Million)
Balance Sheet Analysis
March 31, 2006 and 2005
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
2005
100.0%
68.1
38.8
17.3
14.6
42.0
6.0
23.7
30.9
2006
100.0%
67.9
34.6
16.0
16.1
48.5
1.8
12.8
35.2
(% of Total Assets)
482,975
468,959
506,378
638,468
730,944
22,239
4,187
3,675
30,545
66,587
(6,004)
(8,143)
2,410
24,141
28,945
(16.23)
(22.03)
6.52
65.19
78.16
6.02
57.84
69.33
27,313
27,506
30,165
33,561
37,139
176,961
162,464
171,194
196,030
243,122
(3.3)
(4.8)
1.4
13.1
13.2
33,546
20,226
22,267
22,459
25,817
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
2002
2003
2004
2005
2006
Net Income (Loss) per Share
(¥)
Diluted Net Iincome Per Share
(¥)
R&D Costs
(¥ Million)
Shareholders’ Equity
(¥ Million)
Return on Equity
(%)
Capital Expenditures
(¥ Million)