Pioneer 2016 Annual Report Download - page 21

Pioneer Corporation and Its Subsidiaries
Years Ended March 31
Five-Year Summary of Operations
In millions of yen and
thousands of U.S. dollars 2012 2013 2014 2015 2016 2016
Net sales ¥436,753 ¥451,841 ¥498,051 ¥501,676 ¥449,630 $3,979,027
Operating income 12,514 5,997 11,169 7,778 7,304 64,637
Net income (loss) attributable to
owners of Pioneer Corporation 3,670 (19,552) 531 14,632 731 6,469
Total assets 322,012 311,325 327,913 328,277 298,012 2,637,274
Total equity 89,037 81,576 77,816 107,066 90,486 800,761
Equity ratio (%) 26.1 24.5 22.1 31.0 28.7
Net income (loss) per share
(yen/U.S. dollars) 11.43 (60.90) 1.49 39.85 1.99 0.02
Total equity per share
(yen/U.S. dollars) 261.98 237.97 197.33 277.05 233.32 2.06
Inventories 66,871 76,466 70,371 63,295 52,837 467,584
Capital expenditures 24,769 34,965 26,053 25,046 30,442 269,398
Depreciation and amortization 24,568 25,413 24,883 23,543 27,122 240,018
R&D expenses 34,590 33,671 26,891 28,196 24,804 219,504
R&D expenses to net sales (%) 7.9 7.5 5.4 5.6 5.5
Cash flows from operating activities 18,213 1,179 34,242 34,564 19,292 170,726
Cash flows from investing activities (21,781) (35,239) (21,862) 36,880 (20,083) (177,726)
Cash flows from financing activities 1,719 7,018 (887) (55,424) 3,408 30,159
Cash and cash equivalents
at end of year 45,953 20,967 33,904 51,676 51,993 460,115
Borrowings 89,511 96,212 87,448 34,238 37,328 330,336
D/E ratio (times) 1.1 1.3 1.2 0.3 0.4
Return on assets (ROA) (%) 1.2 (6.2) 0.2 4.5 0.2
Return on equity (ROE) (%) 4.3 (24.4) 0.7 16.8 0.8
Return on sales (%) 0.8 (4.3) 0.1 2.9 0.2
Total assets turnover ratio (times) 1.4 1.4 1.6 1.5 1.4
Average foreign exchange rate
(yen/U.S. dollars) 79.08 83.10 100.24 109.93 120.14
Average foreign exchange rate
(yen/euro) 108.98 107.14 134.37 138.77 132.58
Number of employees 24,765 23,926 22,193 19,404 17,046
Notes: 1. The U.S. dollar amounts represent translations of Japanese yen, for convenience only, at the rate of ¥113=U.S.$1.00, the
approximate current rate prevailing on March 31, 2016.
2. Amounts less than presentation units are rounded.
3. Effective from scal 2016, the reference to “net income (loss)” was changed to “net income (loss) attributable to owners
of Pioneer Corporation” by the application of the “Revised Accounting Standard for Business Combinations” (Accounting
Standards Board of Japan (ASBJ) Statement No.21, issued on September 13, 2013), etc.
4. Net income (loss) per share and total equity per share are calculated by using the number of issued shares after deducting
treasury stock.
5. Cash and cash equivalents at end of year exclude time deposits which become due over three months of the date of acquisition.
6. The amount of borrowings includes convertible bonds and excludes capital lease obligations.
7. Return on assets (ROA) is calculated by dividing net income (loss) attributable to owners of Pioneer Corporation 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)
attributable to owners of Pioneer Corporation for the term by the average amount of equity (equity calculated as total equity
minus non-controlling interests) during the term.
8. Total assets turnover ratio is calculated by dividing net sales for the term by the average amount of total assets during the term.
9. The number of employees excludes contract employees with a contract period of less than one year and temporary/other
contract employees.
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Pioneer Corporation Annual Report 2016