Omron 1999 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 1999 Omron annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 50

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50

Net sales and total assets of foreign subsidiaries for the years ended March 31, 1999, 1998 and 1997 were as
follows:
Thousands of
Millions of yen U.S. dollars
1999 1998 1997 1999
Net sales.............................................................................. ¥167,546 ¥171,181 ¥151,992 $1,384,678
Total assets ......................................................................... 122,039 143,247 132,714 1,008,587
The Company adopted SFAS No. 128, “Earnings per Share,” in the year ended March 31, 1998. SFAS
No. 128 establishes standards for computing and presenting net income per share and simplifies the stan-
dards for computing net income per share previously found in APB Opinion No. 15, “Earnings per Share.”
SFAS No. 128 replaces the presentation of primary net income per share with a presentation of basic net
income per share. SFAS No. 128 also requires dual presentation of basic and diluted net income per share on
the face of the statements of income for all entities with complex capital structures and requires a reconcilia-
tion of the numerator and denominator of the basic and diluted net income per share computation.
All prior years’ net income per share data presented were restated to conform with the provisions of SFAS
No. 128.
Basic net income per share has been computed by dividing net income available to common shareholders
by the weighted average number of common shares outstanding during each year. Diluted net income per
share reflects the potential dilution of all convertible bonds and has been computed on the basis that all con-
vertible bonds were converted at the beginning of the year.
A reconciliation of the numerators and denominators of the basic and diluted net income per share compu-
tation is as follows:
Thousands of
Millions of yen U.S. dollars
1999 1998 1997 1999
Net income .................................................................................. ¥2,174 ¥18,704 ¥15,739 $17,967
Effect of dilutive securities:
Convertible bonds, due 2004 .................................................. —292 275 —
Diluted net income....................................................................... ¥2,174 ¥18,996 ¥16,014 $17,967
Number of shares
1999 1998 1997
Weighted average common shares outstanding...................... 260,649,752 262,107,214 262,107,214
Dilutive effect of:
Convertible bonds, due 2004 ............................................... —10,028,661 10,028,661
Diluted common shares outstanding........................................ 260,649,752 272,135,875 272,135,875
For the year ended March 31, 1999, the assumed conversion of convertible bonds, giving effect to the incre-
mental shares and the adjustment to reduce interest expenses, was anti-dilutive and has, therefore, been
excluded from the computation.
For the year ended March 31, 1999, the assumed exercise of stock options, giving effect to the incremental
shares, was anti-dilutive and has been excluded from the computation.
Cash dividends per share are the amounts applicable to the respective year, including dividends to be paid
after the end of the year.
38
10. Foreign
Operations
11. Amounts per
Share