Nikon 2007 Annual Report Download - page 25

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FIVE-YEAR SUMMARY
MANAGEMENT’S DISCUSSION AND ANALYSIS OF OPERATIONS
23NIKON ANNUAL REPORT 2007
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
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 ¥118.05 to U.S. $1.00, the exchange rate at March 31, 2007.
3. Diluted net income per share for the year ended March 31, 2003 is not disclosed because of the Company's net loss position.
OPERATING ENVIRONMENT
In the fiscal year ended March 31, 2007, growth in the U.S. economy remained on par with the previous year due to robust consumer spending
and capital investment, offsetting a decline in housing investment. The European economy continued to expand moderately owing to an
increase in domestic demand, while high growth persisted in the Asian economy, led by China and India.
With regard to Nikon Group business segments, vigorous capital investment in the semiconductor and LCD markets resulted in steady
performance in Precision Equipment and Instruments. In Imaging Products, the digital camera market continued to expand.
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, 2007 and 2006
Thousands of
U.S. Dollars
2007
$ 6,970,042
4,190,287
1,915,658
864,097
743,860
464,421
$ 1.24
1.11
0.15
$ 257,786
191,657
399,981
$ 6,344,253
2,951,671
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
2006
¥ 730,944
468,944
195,413
66,587
40,925
28,945
¥ 78.16
69.33
10.00
¥ 25,817
20,760
37,139
¥ 690,920
243,122
2007
¥ 822,813
494,663
226,143
102,007
87,813
54,825
¥ 146.36
131.42
18.00
¥ 30,432
22,625
47,218
¥ 748,939
348,445
Millions of Yen
Thousands of
U.S. Dollars
2007
$ 2,478,291
3,810,165
518,178
484,917
$ 7,291,551
(321,509)
$ 6,970,042
2006
¥ 243,207
33.3%
416,607
57.0
54,875
7.5
49,832
6.8
¥ 764,521
(33,577)
(4.6)
¥ 730,944
2007
¥ 292,562
35.6%
449,790
54.7
61,171
7.4
57,244
7.0
¥ 860,767
(37,954)
(4.7)
¥822,813
Millions of Yen, %
Nikon Corporation and Consolidated Subsidiaries
Years ended March 31