Pioneer 2014 Annual Report Download - page 23

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Pioneer Corporation and Its Subsidiaries
Years ended March 31
Five-Year Summary of Operations
In millions of yen and
thousands of U.S. dollars 2010 2011 2012 2013 2014 2014
Net sales ¥438,998 ¥457,545 ¥436,753 ¥451,841 ¥498,051 $4,835,447
Operating income (loss) (17,514) 15,817 12,514 5,997 11,169 108,437
Net income (loss) (58,276) 10,350 3,670 (19,552) 531 5,155
Total assets 389,719 309,712 322,012 311,325 327,913 3,183,621
Total equity 90,654 88,454 89,037 81,576 77,816 755,495
Equity ratio (%) 22.4 27.4 26.1 24.5 22.1
Net income (loss) per share
(yen/U.S. dollars) (272.70) 32.24 11.43 (60.90) 1.49 0.01
Total equity per share
(yen/U.S. dollars) 271.46 264.78 261.98 237.97 197.33 1.92
Inventories 55,050 59,616 66,871 76,466 70,371 683,214
Capital expenditures 23,802 22,148 24,769 34,965 26,053 252,942
Depreciation and amortization 39,303 29,842 24,568 25,413 24,883 241,583
R&D expenses 35,977 33,040 34,590 33,671 26,891 261,078
R&D expenses to net sales (%) 8.2 7.2 7.9 7.5 5.4
Net debt 73,752 40,266 43,558 74,153 52,051 505,350
D/E ratio (times) 1.9 1.0 1.1 1.3 1.2
Cash flows from operating activities 7,956 37,454 18,213 1,179 34,242 332,447
Cash flows from investing activities (8,432) 3,886 (21,781) (35,239) (21,862) (212,252)
Cash flows from financing activities 21,846 (74,244) 1,719 7,018 (887) (8,612)
Cash and cash equivalents
at end of year 84,142 47,566 45,953 20,967 33,904 329,165
Return on assets (ROA) (%) (14.2) 3.0 1.2 (6.2) 0.2
Return on equity (ROE) (%) (59.0) 12.0 4.3 (24.4) 0.7
Average foreign exchange rate
(yen/U.S. dollars) 92.85 85.72 79.08 83.10 100.24
Average foreign exchange rate
(yen/euro) 131.15 113.12 108.98 107.14 134.37
Number of employees 29,046 26,785 24,765 23,926 22,193
Notes: 1. The U.S. dollar amounts represent translations of Japanese yen, for convenience only, at the rate of ¥103=U.S.$1.00, the
approximate current rate prevailing on March 31, 2014.
2. Amounts less than presentation units are rounded.
3. Net income (loss) per share and total equity per share are calculated by deducting the number of treasury stock from the
number of issued shares.
4. Return on assets (ROA) is calculated by dividing net income (loss) for the term by the average amount of total assets
during the term, and return on equity (ROE) is calculated by dividing net income (loss) for the term by the average
amount of equity (equity calculated as total equity minus minority interests) during the term.
5. The number of employees excludes contract employees with a contract period of less than one year and temporary/
other contract employees.
21
Pioneer Corporation
Annual Report 2014