Toshiba 2007 Annual Report Download - page 50

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48
CONSOLIDATED FINANCIAL SUMMARY
>
Net Sales, Operating Income (Loss) and
Net Income (Loss)
Net sales ¥5,521.9 ¥5,458.5 ¥5,300.9 ¥5,749.4
Cost of sales 3,932.6 3,960.2 3,890.6 4,254.4
Selling, general and administrative expenses 1,391.5 1,416.0 1,379.8 1,394.0
Operating income (loss) 197.8 82.3 30.5 101.0
Income (loss) before income taxes and minority interest 140.0 30.6 13.2 (39.2)
Income taxes 71.6 17.3 20.9 (4.5)
Net income (loss) 67.1 14.7 (9.1) (32.9)
EBITDA*1 446.9 378.5 378.3 352.9
Profitability Ratios
Operating income ratio (%) 3.6 1.5 0.6 1.8
Return on sales (%) 1.2 0.3 (0.2) (0.6)
Cost of sales ratio (%) 71.2 72.6 73.4 74.0
Selling, general and administrative expenses ratio (%) 25.2 25.9 26.0 24.2
Total Assets, Total Shareholders’ Equity and
Interest-bearing Debt
Total assets 5,933.2 6,166.3 6,101.9 5,780.0
Total shareholders’ equity 1,388.8 1,305.9 1,128.8 1,060.1
Interest-bearing debt 1,954.0 2,260.8 2,181.7 1,967.3
Long-term debt 718.2 1,012.4 1,178.4 1,121.9
Short-term debt 1,235.8 1,248.4 1,003.3 845.4
Shareholders’ equity ratio (%)*2 23.4 21.2 18.5 18.3
Debt/equity ratio (Times)*3 1.4 1.7 1.9 1.9
R&D, Capital Expenditures, Depreciation
R&D expenditures 332.6 322.9 316.7 334.4
Capital expenditures (Property, plant and equipment) 341.0 339.6 375.5 298.5
Depreciation (Property, plant and equipment) 252.7 291.4 309.8 329.6
Return Indicators
Return on equity (ROE) (%)*4 4.8 1.1 (0.7) (3.0)
Return on total assets (ROA) (%)*5 1.1 0.2 (0.1) (0.6)
Efficiency Indicators
Inventory turnover (Times)*6 5.15 5.27 5.30 6.27
Total assets turnover (Times)*7 0.95 0.90 0.86 0.97
Inventory turnover (Days)*8 70.82 69.21 66.85 58.25
Cash Flows
Net cash provided by operating activities 142.1 272.8 264.9 435.9
Net cash used in investing activities (280.4) (300.2) (280.1) (293.2)
Net cash provided by (used in) financing activities 27.3 65.6 (94.3) (158.7)
Effect of exchange rate changes on cash and cash equivalents
12.0 (2.6) (8.7) (16.6)
Net increase (decrease) in cash and cash equivalents (99.0) 35.5 (118.2) (32.5)
Cash and cash equivalents at end of year 580.4 615.9 497.8 465.2
Liquidity Indicators
Debt/cash flow ratio (%)*9 17.13 14.64 13.68 15.23
Interest coverage ratio (Times)*10 4.2 1.9 1.0 2.8
Corporate Value
Free cash flow*11 (138.3) (27.4) (15.1) 142.8
Market capitalization*12 2,201.8 1,738.3 2,604.2 3,367.1
Other Data
Number of employees (Consolidated) (Thousands) 186 186 198 191
Number of employees (Non-Consolidated) (Thousands) 68 66 63 58
Ratios of Consolidated to Non-Consolidated
Performance (Times) (Net sales) 1.4 1.5 1.6 1.6
• ¥48.9 billion, ¥4.8 billion and ¥4.1 billion of “Subsidy received on return of substitutional
portion of Employees’ Pension Fund Plan, net of settlement loss of ¥188.1 billion in 2004,
¥8.0 billion in 2005, ¥5.0 billion in 2006” are classified as a reduction of selling, general and
administrative expenses for the years ended March 31, 2004, 2005 and 2006, respectively.
• Operating income (loss) has been determined under financial reporting practices generally
accepted in Japan and is defined as net sales less cost of sales and selling, general and
administrative expenses.
• Beginning with the fiscal year ended March 31, 2001, Toshiba has adopted Statement of
Financial Accounting Standards (SFAS) No. 115, “Accounting for Certain Investments in
Debt and Equity Securities.” Prior-period data for the fiscal years ended March 31, 1997
through 2000, has been restated to conform with SFAS No. 115.
• Beginning with the fiscal year ended March 31, 1998, revenues and expenses from financial
services, real estate leasing and sales, and other operations are reported as operating
activities, whereas they were reported as non-operating activities in prior periods. Prior-
period data for the fiscal year ended March 31, 1997, has been reclassified to conform with
the current classification.
• Beginning with the fiscal year ended March 31, 2006, equity in earnings (losses) of affiliates
has been included in income (loss) before income taxes and minority interest, prior-period
data for the fiscal years ended March 31, 1997 through 2005 has been reclassified to
conform with the current classification.
’97/3 ’98/3 ’99/3 ’00/3