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Wacom Co.,Ltd.
Annual Report
2004

Table of contents

  • Page 1
    Wacom Co., Ltd. Annual Report 2004

  • Page 2
    ... April 2002 · Electronic Human Interfaces (EHI) Company is established. April 2003 · The Company's stock is listed on the JASDAQ market. September 2003 · Marketing of Graphire3/FAVO F-430, F-630 begins. · Marketing of ECAD/dio Ver 4.0 begins. April 2004 · Wacom Digital Solutions Co., Ltd...

  • Page 3
    ...common stock was split into five shares. Accordingly, per share amounts for the year ended March 31, 2004, were calculated on the basis that such a stock split was carried out at the beginning of the period. Net sales (... '00 '01 '02 '03 '04 '00 '01 '02 '03 '04 Wacom Annual Report 2004 1

  • Page 4
    ... unchanging support. We are pleased to present the Wacom Annual Report for the 21st fiscal year from April 1, 2003, through March 31, 2004. Since opening our doors in 1983, Wacom has focused on researching and developing new user interfaces designed to enhance human creativity. Under the corporate...

  • Page 5
    ..., and Shanghai, China, as the foundations for future business development. Also, we will expand the technology reach of our pen sensor component business into the growing segment of tablet PCs, as well as into new domains such as mobile phones and information appliances. Our customers' satisfaction...

  • Page 6
    ...development, manufacture, and sale of pen tablets and related software. Engineering Collaborative Solutions (ECS) is dedicated to the development and sale of computer-aided design (CAD) systems and the sale of product data management (PDM) systems. And, Electronic Human Interfaces (EHI) is dedicated...

  • Page 7
    ... as our new marketing/R&D base for pen sensor components. A number of R&D facilities for European mobile phone manufacturers are concentrated in Cambridge. Wacom Components Europe Ltd. Wacom China Corp. Wacom Europe GmbH Wacom Co., Ltd. Wacom Tech. Corp. Wacom Digital Solutions Co., Ltd. Taipei...

  • Page 8
    ... worldwide. Wacom FAVO/Graphire3 Designed for general PC users, this tablet offers performance that mirrors the higher-end units used by computer graphics professionals. Wacom Cintiq This integrated LCD tablet allows users to manipulate images using an electronic pen. Pen sensor component...

  • Page 9
    ... price. ProØDenki ProØDenki is a CAD system for electrical engineering firms, and it is based on the international-standard AutoCAD platform. As a pioneer in the field of electronic CAD, Wacom used AutoCAD/AutoCAD LT as its base technology and then magnified it. Electronic Human Interfaces...

  • Page 10
    ... indexes not stated in the financial statements of this annual report are taken from the marketable securities report. The Company listed its shares on the JASDAQ market of Japan Securities Dealers Association on April 24, 2003, and as the mean stock prices before the listing could not be determined...

  • Page 11
    ... half. The market rollout of Wacom FAVO, our new consumer product, contributed substantially to our business results by appealing to---and creating demand from---new groups of customers who had little previous interest in pen tablets. The Cintiq 18SX/C-1800SX integrated LCD tablets sold well in the...

  • Page 12
    ... the previous fiscal year). * This is the adaptation of electronic signature technology to the centuries-old name seal practice common in China and Japan. The name seal practice is used in place of signatures. Financial conditions Consolidated cash and cash equivalents increased by ¥ 611 million...

  • Page 13
    ...'02 '03 '04 '00 '01 '02 '03 '04 '00 '01 '02 '03 '04 *On November 20, 2003, each share of common stock was split into five shares. Accordingly, the '04 amount was calculated on the basis that such a stock split was carried out at the beginning of the period. Wacom Annual Report 2004 11

  • Page 14
    ...equipment and vehicles ...Tools and furniture ...Less: Accumulated depreciation ...Property, plant and equipment, net ...Investment securities and other assets ---Investment securities (Notes 2 and 3) ...Software...(2,542,321) 3,669,515 14,351 31,636 990 11,825 58,802 (24,066) ...Wacom Annual Report 2004

  • Page 15
    ... employees ...Other current liabilities...Total current liabilities ...Long-term liabilities: Long-term debt (Note 5)...Accrued retirement benefits... Common stock, Authorized: 345,000 shares in 2004 and 69,000 shares in 2003 Issued: 94,020 shares in 2004 and ...,938 $122,974 Wacom Annual Report 2004 13

  • Page 16
    CONSOLIDATED STATEMENTS OF INCOME Wacom Co., Ltd. and Consolidated Subsidiaries Thousands of yen Year ended March 31 2003 2004 Thousands of U.S. dollars (Note 1) Year ended March 31 2004 Net sales (Note 14) ...Cost of sales (Note 14) ...Gross profit ...Selling, general and administrative expenses...

  • Page 17
    CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY Wacom Co., Ltd. and Consolidated Subsidiaries Thousands of yen Year ended March 31 2003 2004 Thousands of U.S. dollars (Note 1) Year ended March 31 2004 Common stock: Beginning of period ...New stock issued in public offering ...Exercise of warrants...

  • Page 18
    ...sale of investment securities ...Gain on sale of fixed assets ...Loss on sale of subsidiaries' stock...Loss on sale and disposal of fixed assets...Loss on write... at end of year (Note 2) ...The accompanying notes are an integral part of the financial statements.... $34,847 16 Wacom Annual Report 2004

  • Page 19
    ... are stated at cost after accounting for any premium or discount on acquisition, which is amortized over the period to maturity. Investments of the Company in equity securities issued by affiliates are accounted for by the equity method. Other securities for which market price or quotations are...

  • Page 20
    ... in affiliates Other securities Share stocks not listed in the market (excluding overthe-counter stocks) ¥0 43,000 ¥43,000 Other securities whose market price or quotations do not exceed their acquisition cost (a) Share stocks (b) Debt securities Government bonds, Municipal bonds, etc. Corporate...

  • Page 21
    ... provides for benefits under the governmental welfare pension benefit plan which would be otherwise provided by the Japanese government. Appropriation for: Cash dividends, ¥2,000.00 ($18.93) per share Bonuses to directors ¥188,040 15,500 ¥203,540 $1,780 147 $1,927 Wacom Annual Report 2004 19

  • Page 22
    ... to lessees, are as follows: a) Acquisition costs of leased assets under finance leases are as follows: Thousands of yen March 31 2003 Thousands of U.S. dollars March 31 2004 2004 Machinery, equipment and vehicles Tools and furniture Software Accumulated depreciation Total ¥3,714 46,163 46...

  • Page 23
    ... management control of the business. b) Main products of each business segment: i) ESD business: Professional graphics tablet, Consumer graphics tablet, LCD tablet, Pen sensor component ii) ECS business: ECAD/dio, ProØDenki, SMARTEAM iii) EHI business: Electronic Seal inpplet c) Corporate expenses...

  • Page 24
    ... belonging to each segment. i) North America: U.S.A., Canada ii) Europe: United Kingdom, Germany, France, Netherlands iii) Others: South Korea, Taiwan, Australia, China c) Overseas sales comprise the sales outside Japan of the Company and its consolidated subsidiaries. 22 Wacom Annual Report 2004

  • Page 25
    REPORT OF INDEPENDENT AUDITORS Wacom Annual Report 2004 23

  • Page 26
    ... Sumitomo Trust & Banking Co., Ltd. Development Bank of Japan, etc. Overseas affiliates Wacom Technology Corporation (U.S.A.) 1311 SE Cardinal Court, Vancouver, WA 98683, U.S.A. Wacom Europe GmbH (Germany) Europark Fichtenhain A9 D-47807, Krefeld, Germany Wacom China Corporation (China) Room 611...

  • Page 27
    ... shares Financial institutions Announcement for stock split The Board of Directors made a resolution on August 8, 2003, that each share of common stock be split into five shares in order to reduce the size of the minimum trading unit and to increase the number of shares traded in the stock markets...

  • Page 28
    Wacom Co., Ltd. 2-510-1 Toyonodai Otonemachi, Kita Saitama-Gun, Saitama 349-1148, Japan (Head office) TEL: 0480-78-1211(Main) FAX: 0480-78-1220 http://www.wacom.co.jp/english/index.html Printed in Japan