Oki 2014 Annual Report Download - page 26

60
40
20
02012 2013 2014
48.9
31.3
17.6
54.7
51.4
37.1
17.6
32.7
18.7
5
2
1
4
3
02012 2013 2014
1.7
2.8
4.5
1.6
3.0
4.6
1.5
2.5
4.0
EMS Segment, Other Businesses
(Billions
of yen)
(Ended
March 31)
(Ended
March 31)
Net Sales (Billions
of yen) Operating Income
EMS Other Businesses EMS Other Businesses
50
40
30
0
50
20 20
30
40
0
10 10
2012 2013 2014
3.9
1.6
27.427.4
37.8
13.6
28.0
（%）
(Billions
of yen)
(Ended
March 31)
Net Income/
Return on Equity (ROE)
Net Income (left scale)
Return on Equity (ROE) (right scale)
2012 2013 2014
(14.0)
(4.3)
31.9
(11.6)
(21.1)
(9.2)
22.8
(9.4)
-30
-20
-10
0
10
20
30
40
(17.5)(17.5)
(Billions
of yen)
(Ended
March 31)
Cash Flows
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
15
5
10
02012 2013 2014
8.6
9.3
9.3
10.210.8
13.1
9.6
9.6
(Billions
of yen)
(Ended
March 31)
Capital Expenditures
Depreciation (property, plant
and equipment, at cost)
Capital Expenditures/
Depreciation (property, plant
and equipment, at cost)
24 Annual Report 2014
EMS Segment, Other Businesses
Sales in the EMS segment rose 13.6% year-on-year to ¥37.1 billion,
and sales of Other Businesses fell by 6.3% year-on-year to ¥17.6 bil-
lion. In the EMS segment, sales increased due to solid demand from
the telecom equipment market as well as an effect from consolidat-
ing OKI Circuit Technology Co., Ltd*. As for Other Businesses, sales
declined, despite a solid performance in the components-related
business, due to a fall-off of shipments to amusement markets.
Operating income in the EMS segment improved ¥100 million
year-on-year to ¥1.7 billion, and operating income in Other Busi-
nesses deteriorated by ¥200 million year-on-year to ¥2.8 billion.
*OKI Circuit Technology Co., Ltd. changed its corporate name on April 1,
2014 from its former name of OKI TANAKA Circuits Co., Ltd.
NET INCOME
Net income increased by ¥13.8 billion year-on-year to ¥27.4 billion,
reflecting the booking of ¥11.3 billion in foreign exchange gains
in the non-operating section due to yen weakness as well as the
booking of ¥4.3 billion in costs arising from structural reforms to
the Printers segment etc. Against this backdrop, net income per
share came to ¥36.21 for fi scal year 2013.
ASSETS AND LIABILITIES
At the fi scal year-end, total assets were up ¥63.2 billion year-on-year to
¥412.5 billion. Due to a net income of ¥27.4 billion and other factors,
shareholders’ equity increased by ¥32.6 billion year on year to ¥88.7
billion. As a result, the shareholders’ equity ratio came to 21.5%.
With respect to major increases and decreases in assets, cash
and cash equivalents increased by ¥17.0 billion, notes and accounts
receivable grew by ¥9.5 billion, inventories rose ¥10.3 billion, and
assets relating to retirement benefi ts were up ¥27.5 billion.
Total liabilities increased by ¥27.9 billion. Notes and accounts
payable increased by ¥9.9 billion, and deferred tax liabilities in-
creased by ¥16.4 billion, while debt came to ¥119.0 billion, down
¥1.5 billion from ¥120.5 billion at the previous fi scal year-end.
CASH FLOWS
Net cash provided by operating activities amounted to ¥31.9 bil-
lion, a turnaround of ¥43.5 billion year on year from an outfl ow in
the prior fi scal year. This was mainly due to improvements in net
income before taxes and minority interests and working capital.
Net cash used in investing activities totaled ¥14.0 billion, up
¥4.8 billion from the previous fi scal year. Main outfl ows were for
purchases of property, plant, and equipment.
As a result, free cash fl ows, which are the sum of cash from
operating activities and investing activities, turned positive with a
net infl ow of ¥17.9 billion, a year-on-year improvement of ¥38.7 bil-
lion from an outfl ow in the prior fi scal year.
Net cash used in financing activities amounted to ¥4.3 billion
with the payment of preferred stock dividends and loan repay-
ments, a year-on-year reduction in outfl ows of ¥16.8 billion.