Olympus 2004 Annual Report Download - page 29

R&D Expenditure
(Millio ns of yen)
0 0 0 1 0 2 0 3 0 4
Rate of Return o n Equity
(%)
0 0 0 1 0 2 0 3 0 4
Capital Expenditure
(Millio ns of yen)
0 0 0 1 0 2 0 3 0 4
Deprec iation and amo rtization
Capital Expenditures
17,093
16,288
21,411
18,247
24,835
23,700
34,619
16,858
4 1 ,9 1 7
2 4 ,2 4 9
1 .0
6 .2
5 .2
1 1 .5
1 4 .1
30,848 30,477
34,735
38,671
31,955
O LYMPUS 2 0 0 4 2 7
AN ALYSIS O F FIN AN CIAL PO SITIO N
Total Assets
>As of March 3 1 , 2 0 0 4 , to tal assets were ¥6 8 2 ,6 7 3 million
(US$ 6 ,2 0 6 millio n), an increase of 1 2.7% fro m the previous fis-
cal year-end. To tal current assets ro se 1 4 .1 % to ¥408,049 mil-
lio n (US$ 3 ,7 1 0 million), mainly due to an increase in no tes and
acco unts receivable and invento ries. N et pro perty, plant and
equipment were ¥1 0 1 ,1 0 4 million (US$ 9 1 9 millio n). Total
investments and o ther assets were ¥1 7 3 ,5 2 0 million (US$ 1 ,5 7 7
million). Turno ver o f to tal assets in fiscal 2 0 0 4 was 0 .9 3 times,
slightly decreased from the previous fiscal year.
Total Liabilities and Shareholders’ Equity
>To tal liabilities increased 1 2 .3 % to ¥429,329 million (US$ 3 ,9 0 3
million). To tal shareho lders’ equity rose 13.4% to ¥2 5 2 ,1 7 9 mil-
lio n (US$ 2 ,2 9 3 million). The ratio of shareho lders’ equity to
to tal assets impro ved slightly to 3 6 .9 %.
Cash Flows
>Cash and cash equivalents as o f March 3 1 , 2 0 0 4 , increased
¥1 3 ,1 5 1 million to ¥6 9 ,0 9 5 million (US$6 2 8 million) co mpared
with the end o f the previous fiscal year.
Net cash provided by operating activities decreased ¥4 8 , 2 1 4
million to ¥3 0 ,5 3 7 millio n (US$ 2 7 8 million) co mpared with the
previous fiscal year, mainly due to an increase in acco unts
receivable and invento ries as well as in outg o ing cash fro m the
return o f pensio n assets for the substitutional po rtion o f the gov-
ernment pension scheme and the foundatio n of a new pensio n
scheme.
Net cash used in investing activities was ¥5 5 ,2 11 million
(US$ 5 0 2 millio n), o wing primarily to the purchases of pro perty,
plant and equipment.
Net cash provided by financial activities was ¥3 8 ,4 0 8 million
(US$ 3 4 9 millio n), o wing to a decrease in sho rt-term borro wings
and proceeds from lo ng-term debt.
Research & Development Expenditures
>The O lympus Gro up has been seeking new technolo gies thro ugh
research and development activities to create new business
areas and to strengthen the co re competencies of current busi-
nesses. In the fiscal year under review, R&D expenditures amo unt-
ed to ¥38,671 millio n (US$ 3 5 2 million), 6.1% of net sales.
Capital Expenditures
>To tal capital expenditures grew 2 1 .1 % to ¥41,917 million
(US$ 3 8 1 millio n). The amo unt of depreciation and amortization
was ¥2 4 ,2 4 9 million (US$ 220 million) in the fiscal year under
review.
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