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PIONEER CORPORATION
22
Five-Year Summary of Operations
Pioneer Corporation and Subsidiaries
Years ended March 31
Yen U.S. Dollars
In millions of yen and thousands of U.S. dollars 2004 2005 2006 2007 2008 2008
Operating revenue:
Net sales ¥672,928 ¥700,805 ¥746,424 ¥792,441 ¥772,478 $7,724,780
Royalty revenue 11,821 10,237 8,540 4,661 1,999 19,990
Total operating revenue 684,749 711,042 754,964 797,102 774,477 7,744,770
Income (loss) from continuing operations 19,464 (10,112) (85,758) (9,536) (17,992) (179,920)
Income from discontinued operations, net of tax 5,374 1,323 772 2,775 ––
Net income (loss) ¥ 24,838 ¥ (8,789) ¥ (84,986) ¥ (6,761) ¥ (17,992) $ (179,920)
Basic net income (loss) per share of common stock (yen):
Income (loss) from continuing operations ¥110.95 ¥(57.65) ¥(491.66) ¥(54.67) ¥(98.23) $(0.98)
Income from discontinued operations, net of tax 30.63 7.54 4.43 15.91 – –
Net income (loss) 141.58 (50.11) (487.23) (38.76) (98.23) (0.98)
Diluted net income (loss) per share of common stock (yen):
Income (loss) from continuing operations 110.09 (57.65) (491.66) (54.67) (98.23) (0.98)
Income from discontinued operations, net of tax 30.43 7.54 4.43 15.91 – –
Net income (loss) 140.52 (50.11) (487.23) (38.76) (98.23) (0.98)
Cash dividends per share declared (yen) ¥ 25.00 ¥ 25.00 ¥ 10.00 ¥ 10.00 ¥ 7.50 $ 0.08
Capital expenditures ¥ 57,978 ¥ 63,866 ¥ 40,325 ¥ 41,932 ¥ 41,989 $ 419,890
Depreciation and amortization 41,047 46,990 46,703 41,127 33,309 333,090
Research and development expenses 51,449 55,858 63,442 59,222 59,395 593,950
Total assets 722,542 725,167 678,046 635,474 576,116 5,761,160
Borrowings:
Short-term borrowings and
current portion of long-term debt 27,837 52,428 30,370 18,605 28,484 284,840
Long-term debt 89,691 81,219 92,970 86,015 72,041 720,410
Total borrowings 117,528 133,647 123,340 104,620 100,525 1,005,250
Common stock 49,049 49,049 49,049 49,049 69,824 698,240
Shareholders’ equity ¥332,938 ¥332,239 ¥273,250 ¥268,116 ¥247,395 $2,473,950
Return on assets (%) 3.6 (1.2) (12.1) (1.0) (3.0)
Return on equity (%) 7.6 (2.6) (28.1) (2.5) (7.0)
Weighted-average number of shares
outstanding (in thousands) 175,433 175,389 174,426 174,419 183,159
Diluted average number of shares
outstanding (in thousands) 176,609 175,389 174,426 174,419 183,159
Number of shares issued (in thousands) 180,064 180,064 180,064 180,064 210,064
Number of employees 32,526 33,409 38,826 37,622 42,775
Notes: 1. The U.S. dollar amounts in this report represent translation of Japanese yen, for convenience only, at the rate of ¥100=US$1.00, the approximate
current rate prevailing on March 31, 2008.
2. Basic net income (loss) per share of common stock has been computed based on the weighted-average number of shares outstanding during each
fiscal year. Diluted net income (loss) per share of common stock has been computed on the basis that all dilutive warrants and stock options were
exercised. See Note 23 of notes to consolidated financial statements.
3. Return on assets represents net income (loss) as a percentage of average total assets. Return on equity represents net income (loss) as a percentage
of average shareholders’ equity.
4. In fiscal 2004 the Company sold subsidiaries in the audio/video software business, in fiscal 2006 sold a subsidiary engaged in the development of
cable TV software, and in fiscal 2007 sold subsidiaries involved in the electronic components business. As a result, the operating results of these
subsidiaries and the gain on the sales are presented as income from discontinued operations in the consolidated statements of operations in accor-
dance with Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets.” Corresponding
figures for the previous fiscal years have been reclassified accordingly. See Note 5 of notes to consolidated financial statements.
5. In fiscal 2006, the Company changed the standard for counting the number of employees. Contract employees with contract period of less than one
year and temporary employees, previously included in the number of employees, have been excluded. Previously reported numbers have been
adjusted accordingly.