Olympus 2004 Annual Report Download - page 28

1 ,8 6 0
1 1 ,7 8 7 1 0 ,2 7 9
2 4 ,3 4 8
3 3 ,5 6 4
Net Sales
(Millio ns of yen)
0 0 0 1 0 2 0 3 0 4
O perating Income / N et Inco me
(Millio ns of yen)
0 0 0 1 0 2 0 3 0 4
To tal Assets and Shareho lders’ Equity
(Millio ns of yen)
0 0 0 1 0 2 0 3 0 4
Share ho ld ers’ equity
Total assets
Net income
O pe rating income
4 2 8 ,6 4 6
466,704
528,415
564,343
633,622
30,132
35,496
42,283
62,346 62,997
5 3 6 ,1 7 4
5 8 4 ,1 0 3 5 6 2 ,0 7 8
6 0 5 ,7 6 8
6 8 2 ,6 7 3
1 9 0 ,3 4 1 1 9 2 ,2 2 9 2 0 1 ,5 4 7 2 2 2 ,4 3 2
2 5 2 ,1 7 9
2 6 O LYMPUS 2 0 0 4
CO N SO LIDATED RESULTS O F O PERATIO N S
N et Sales
>To tal net sales increased 1 2.3% to ¥6 3 3 ,6 2 2 million (US$ 5 ,7 6 0
million).
Sales in the Imag ing Systems Gro up ro se 2 1 .2 % to ¥2 9 6 , 7 3 0
million (US$ 2 ,6 9 8 millio n). This substantial increase is attribut-
able to the excellent performance of digital cameras in mainly
the U.S., but also in Euro pe and Asia. Altho ugh we have been
facing further price declines and severe co mpetitio n as co mpeti-
to rs aggressively launch new models, o ur μ[mju:] DIG ITAL
(Stylus Digital in the U.S. and μ[mju:] Dig ital in Euro pe) series,
which feature a weatherproof metal bo dy, performed o utstand-
ingly well in all majo r markets. W e also received a positive
respo nse from pro fessio nal pho to g raphers fo r the E-1 , o ur new
line o f digital SLR cameras based o n the Four Thirds System stan-
dard. Sales o f co mpact cameras, o n the o ther hand, fell due to
an irreversible contraction o f the market, despite favorable
demand for our new μ[mju:]-III 15 0 (Stylus 150 in the U.S. and
μ[mju:]-III 150 in Europe) co mpact camera, which was released
in fiscal 2 0 0 4 .
In the Medical Systems G ro up, sales increased 7.6 % to
¥2 1 6 ,9 1 5 million (US$ 1 ,972 million). Medical endo sco pes
enjoyed favo rable sales thanks to co ntributions from the EVIS
LUCERA, the wo rld’s first HDTV-compatible endoscope system,
despite uncertainty concerning reforms in the health care system
and budget. Altho ugh the U.S. and European markets were satu-
rated with the current standard model, EVIS EXCERA, sales o f
medical endo sco pes were higher than last year. In the minimally
invasive pro ducts area, the reinfo rcement o f our sales and mar-
keting organization and effective sales pro motion activities co n-
tributed to remarkable gro wth, especially in the U.S. and Euro pe.
In the Life Science G ro up, sales advanced 7.2 % to ¥7 1 ,7 3 9
million (US$ 6 5 2 millio n). Sales o f biolo gical microscopes were
almost at the same level as last year, reflecting the successful
introduction o f new laser microscopes and their sales pro mo -
tio ns, despite unstable conditio ns in the do mestic market o wing
to sequential reforms in the public sector. Diagno stic systems
enjoyed favo rable sales mainly in Euro pe, where the cost per
pro cedure met custo mer demands. In additio n, firm sales o f con-
sumables for diagnostic systems in the U.S. and China co n-
tributed to the o utstanding performance o f this business segment.
The analytical service fo r genmic information still takes up only
a small portio n in entire sales o f the Life Science G ro up, but this
pro mising area sho wed steady g ro wth in the fiscal year under
review.
Sales o f the Industrial Systems Gro up decreased 4 .3 % to
¥4 2 ,5 4 6 million (US$ 3 8 7 million). Industrial micro sco pes sales
surpassed the previous fiscal year due to a recovery in the semi-
co nducto r and electro nic co mponent markets in Japan and o ther
parts o f Asia. Sales of industrial endoscopes, however,
remained level with the previous fiscal year due to unfavorable
market co nditio ns caused by the sluggish do mestic market, the
war in Iraq, and the SARS outbreak.
N et Income
>O perating inco me edged up slightly to ¥62,997 millio n
(US$ 5 7 3 millio n). The ratio o f selling, general and administra-
tive expenses to net sales increased fro m 37.0% to 3 7 .2 %. Net
inco me surg ed 3 7 .9 % to ¥3 3 ,5 6 4 millio n (US$ 3 0 5 million), due
mainly to a g ain of ¥8 ,5 8 4 million (US$ 7 8 millio n) o n the
release fro m an obligatio n fo r payments o n the substitutional
po rtion o f the emplo yees’ pension insurance scheme.
FIN ANCIAL REVIEW
オリンパス AR04 04.8.4 14:06 ページ 26