Pioneer 2010 Annual Report Download - page 23

U.S. GAAP (Yen) Japanese GAAP (Yen) (U.S. Dollars)
In millions of yen and thousands of U.S. dollars 2006 2007 2008 2009 2010 2010
Net sales ¥ 754,964 ¥ 797,102 ¥ 774,477 ¥ 558,837
¥
438,998 $ 4,720,408
Operating income (loss) (16,409) 12,487 9,216 (54,529) (17,514) (188,323)
Loss from continuing operations
before income taxes (71,165) (7,717) – – ––
Loss from continuing operations (85,758) (9,536) – – ––
Income from discontinued operations,
after income tax effect 772 2,775 – – ––
Net loss (84,986) (6,761) (19,040) (130,529) (58,276) (626,624)
Total equity 273,250 268,116 259,355 111,848 90,654 974,774
Total assets 678,046 635,474 562,276 429,093 389,719 4,190,527
Total equity per share (yen/U.S. dollars) 1,566.60 1,537.22 1,258.40 538.98 271.46 2.92
Net loss per share (yen/U.S. dollars) (487.23) (38.76) (103.95) (636.68) (272.70) (2.93)
Equity ratio (%) 40.3 42.2 45.9 25.8 22.4
Return on equity (ROE) (%) (28.1) (2.5) (7.2) (70.8) (59.0)
Cash flows from operating activities 68,329 16,752 42,220 (61,563) 7,956 85,548
Cash flows from investing activities (29,759) (16,468) (92,561) (38,292) (8,432) (90,667)
Cash flows from financing activities (38,551) (21,673) 35,932 85,833 21,846 234,903
Cash and cash equivalents at end of year 121,680 101,820 81,180 63,746 84,142 904,752
Number of employees 38,826 37,622 42,775 32,115 29,046
Notes: 1. Effective from fiscal 2009, the year ended March 31, 2009, Pioneer has changed its basis for preparing consolidated financial statements from U.S.
generally accepted accounting principles (GAAP) to Japanese GAAP. Consequently, figures for fiscal 2008 have been restated based on Japanese
GAAP. The U.S. GAAP financial information presented in the above table is not comparable with the Japanese GAAP financial information presented
in the above table or any other part of this annual report, and should not be so compared.
For fiscal 2006 and 2007, figures based on Japanese GAAP were not calculated, and figures prepared and reported in the past based on U.S. GAAP
are shown. Please note that the U.S. GAAP information presented herein does not reflect adjustments and reclassifications that would be
necessary if Pioneer were to currently prepare its consolidated financial statements in accordance with U.S. GAAP.
2. From fiscal 2010, Pioneer has changed items previously shown as operating revenue to net sales. Consequently, monetary amounts for total
operating revenue are shown for fiscal 2006 to fiscal 2009.
3. Operating income (loss) for fiscal 2006 and 2007 represents net sales less cost of sales and selling, general and administrative expenses in
accordance with Japanese financial presentation practices.
4. Figures for total equity per share and basic net loss per share are calculated by deducting the number of treasury shares from the number of
issued shares.
5. In fiscal 2006, Pioneer sold a subsidiary engaged in the development of cable TV software and, in fiscal 2007, sold subsidiaries involved in the
electronics devices and parts business. For these, Pioneer applied Financial Accounting Codification 205-20, “Discontinued Operations”
(formerly, Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets”), issued by
the U.S. Financial Accounting Standards Board. Consequently, reclassified figures for net sales and loss from continuing operations before
income taxes are shown.
6. For monetary figures, amounts less than presentation units are rounded.
7. The U.S. dollar amounts represent translations of Japanese yen, for convenience only, at the rate of ¥93=U.S.$1.00, the approximate current rate
prevailing on March 31, 2010.
8. The number of employees excludes contract employees with a contract period of less than one year and temporary/other contract employees.
Five-Year Summary of Operations
Pioneer Corporation and Subsidiaries
Years ended March 31
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PIONEER CORPORATION Annual Report 2010