Toshiba 2005 Annual Report Download - page 46

4Toshiba Corporation 130th Anniversary
SCOPE OF
CONSOLIDATION
RESULTS OF
OPERATIONS
As of the end of March 2005, Toshiba Group (“the Group”) comprised 339 consolidated sub-
sidiaries and its principal operations were in the Digital Products, Electronic Devices, Social
Infrastructure, and Home Appliances business domains.
82 consolidated subsidiaries were involved in Digital Products Segment, 42 in Electronic
Devices Segment, 113 in Social Infrastructure Segment, 53 in Home Appliances Segment, and
49 in Others.
In addition, 71 affiliates were accounted for by the equity method.
The number of consolidated subsidiaries increased by 20 compared with March 31, 2004.
> NET SALES
In Japan, economic recovery continued through most of the period under review, primarily driven
by the private sector, as business demand maintained a steady impetus. However, the economy
gradually entered a period of adjustment later in the term, reflecting inventory adjustments in
the information technology industry. Overseas, the US economy expanded on improved
employment and increased capital investment while Europe continued to see gradual recovery.
In Asia, China, and other countries continued their economic expansion.
The Group aims for high growth in the Digital Products and Electronic Devices Segments. In
Social Infrastructure, the Group seeks to expand its international business, to cultivate new busi-
nesses, and to promote cost reductions and operational efficiency, thereby securing stable
growth and profits.
Consolidated sales were ¥5,836.1 billion (US$54,543 million), ¥256.6 billion higher than in
the previous fiscal year. Digital Products, Electronic Devices, Social Infrastructure, and Home
Appliances, all Segments recorded year-on-year sales increases through operations based on
their growth strategies, achieving the Group strategy of combining high growth with steady
profitability.
> NET SALES BY REGION
Millions of yen
Year ended March 31 2005 2004 2003
Japan ¥3,259,853 ¥3,399,903 ¥3,343,551
Asia 949,208 829,914 837,845
North America 811,641 710,108 860,306
Europe 615,283 517,235 509,620
Others 200,154 122,346 104,456
Net Sales ¥5,836,139 ¥5,579,506 ¥5,655,778
Note: These figures are based on geographic location of the market in which sales were recorded, and therefore differ from
the segment sales reported on p.8, which are based on the location of the distribution source.
Japan
Sales fell 4% year on year to ¥3,259.8 billion due to the reclassification of former consolidated
subsidiary companies Toshiba Finance Corporation and Shibaura Mechatronics Corporation as
affiliated companies accounted for by the equity method.
Asia
Sales in the region totaled ¥949.2 billion, a 14% increase compared with the previous fiscal year.
The improved sales performance is mainly attributed to contributions from the Semiconductor
business following integration of the Optical Disk Drive businesses in a Joint Venture of the
Company and Samsung Electronics Co., Ltd.
North America / Europe
Sales in North America and Europe climbed to ¥811.6 billion and ¥615.3 billion, respectively. In
addition to the improvement of profits in the PC business, results were bolstered by the robust
Semiconductor business and increased revenues from Optical Disk Drive and other product sales.
Others
Sales surged 64% year on year to ¥200.2 billion in the Others region due to positive contributions
from thermal power plant properties.