SIGNATURES | ||||||||
Pioneer Announces Second-Quarter and Semiannual Results for Fiscal 2006 |
PIONEER CORPORATION | ||||||
(Registrant) | ||||||
Date: October 31, 2005 |
||||||
By | /s/ Kaneo Ito | |||||
Kaneo Ito | ||||||
President and Representative Director |
1. | The announcement released by the Company to the press in Japan dated October 31 2005, concerning its consolidated second-quarter and semiannual business results, and non-consolidated semiannual business results, for the period ended September 30, 2005. |
(In millions of yen except per share information) | ||||||||||||||||||||||||
Three months | Six months | |||||||||||||||||||||||
ended September 30 | ended September 30 | |||||||||||||||||||||||
2005 | 2004 | % to prior year | 2005 | 2004 | % to prior year | |||||||||||||||||||
Operating revenue |
¥ | 185,715 | ¥ | 181,560 | 102.3 | % | ¥ | 349,898 | ¥ | 345,047 | 101.4 | % | ||||||||||||
Operating income (loss) |
(7,519 | ) | 8,386 | | (16,388 | ) | 13,398 | | ||||||||||||||||
Income (loss) before income taxes |
(5,345 | ) | 8,199 | | (11,954 | ) | 12,438 | | ||||||||||||||||
Net income (loss) |
¥ | (6,918 | ) | ¥ | 3,312 | | ¥ | (12,261 | ) | ¥ | 4,809 | | ||||||||||||
Net income (loss) per share: |
||||||||||||||||||||||||
Basic |
¥ | (39.66 | ) | ¥ | 18.88 | ¥ | (70.29 | ) | ¥ | 27.41 | ||||||||||||||
Diluted |
¥ | (39.66 | ) | ¥ | 16.99 | ¥ | (70.29 | ) | ¥ | 24.45 |
Note: | Effective from fiscal 2005 year-end presentation, the Company classified gains and losses on sale and disposal of fixed assets, which were previously included in Operating costs and expenses, into Other income (expenses). Previously reported amounts have been reclassified accordingly. |
- 1 -
- 2 -
Note: | Operating income (loss) in each business segment represents operating income (loss) recorded before intersegment transactions are eliminated. |
- 3 -
- 4 -
Projections for | Results for | Percent | ||||||||||
fiscal 2006 | fiscal 2005 | changes | ||||||||||
Operating revenue |
¥ | 770,000 | ¥ | 733,648 | +5.0 | % | ||||||
Operating income (loss) |
(25,000 | ) | 2,592 | | ||||||||
Loss before income taxes |
(28,000 | ) | (187 | ) | | |||||||
Net loss |
¥ | (24,000 | ) | ¥ | (8,789 | ) | | |||||
- 5 -
I. | Consolidated financial statements for the three months and the six months ended September 30, 2005 | ||
II. | Non-consolidated financial statements for the six months ended September 30, 2005 |
- 6 -
I. | CONSOLIDATED FINANCIAL STATEMENTS | |
FOR THE THREE MONTHS AND THE SIX MONTHS ENDED SEPTEMBER 30, 2005 |
Three months ended September 30 | ||||||||||||||||||||
2005 | 2004 | % to | ||||||||||||||||||
Amount | % to total | Amount | % to total | prior year | ||||||||||||||||
Domestic |
¥ | 19,028 | 10.2 | % | ¥ | 22,633 | 12.5 | % | 84.1 | % | ||||||||||
Overseas |
62,725 | 33.8 | 54,087 | 29.8 | 116.0 | |||||||||||||||
Home Electronics |
81,753 | 44.0 | 76,720 | 42.3 | 106.6 | |||||||||||||||
Domestic |
26,236 | 14.1 | 29,453 | 16.2 | 89.1 | |||||||||||||||
Overseas |
51,904 | 28.0 | 45,317 | 25.0 | 114.5 | |||||||||||||||
Car Electronics |
78,140 | 42.1 | 74,770 | 41.2 | 104.5 | |||||||||||||||
Domestic |
| | | | | |||||||||||||||
Overseas |
4,162 | 2.2 | 3,864 | 2.1 | 107.7 | |||||||||||||||
Patent Licensing |
4,162 | 2.2 | 3,864 | 2.1 | 107.7 | |||||||||||||||
Domestic |
11,476 | 6.3 | 13,058 | 7.2 | 87.9 | |||||||||||||||
Overseas |
10,184 | 5.4 | 13,148 | 7.2 | 77.5 | |||||||||||||||
Others |
21,660 | 11.7 | 26,206 | 14.4 | 82.7 | |||||||||||||||
Domestic |
56,740 | 30.6 | 65,144 | 35.9 | 87.1 | |||||||||||||||
Overseas |
128,975 | 69.4 | 116,416 | 64.1 | 110.8 | |||||||||||||||
Total |
¥ | 185,715 | 100.0 | % | ¥ | 181,560 | 100.0 | % | 102.3 | % | ||||||||||
Six months ended September 30 | ||||||||||||||||||||
2005 | 2004 | % to | ||||||||||||||||||
Amount | % to total | Amount | % to total | prior year | ||||||||||||||||
Domestic |
¥ | 36,068 | 10.3 | % | ¥ | 36,918 | 10.7 | % | 97.7 | % | ||||||||||
Overseas |
108,890 | 31.1 | 95,555 | 27.7 | 114.0 | |||||||||||||||
Home Electronics |
144,958 | 41.4 | 132,473 | 38.4 | 109.4 | |||||||||||||||
Domestic |
56,177 | 16.1 | 61,784 | 17.9 | 90.9 | |||||||||||||||
Overseas |
104,176 | 29.7 | 92,541 | 26.8 | 112.6 | |||||||||||||||
Car Electronics |
160,353 | 45.8 | 154,325 | 44.7 | 103.9 | |||||||||||||||
Domestic |
| | | | | |||||||||||||||
Overseas |
5,285 | 1.5 | 6,739 | 2.0 | 78.4 | |||||||||||||||
Patent Licensing |
5,285 | 1.5 | 6,739 | 2.0 | 78.4 | |||||||||||||||
Domestic |
19,918 | 5.7 | 25,281 | 7.3 | 78.8 | |||||||||||||||
Overseas |
19,384 | 5.6 | 26,229 | 7.6 | 73.9 | |||||||||||||||
Others |
39,302 | 11.3 | 51,510 | 14.9 | 76.3 | |||||||||||||||
Domestic |
112,163 | 32.1 | 123,983 | 35.9 | 90.5 | |||||||||||||||
Overseas |
237,735 | 67.9 | 221,064 | 64.1 | 107.5 | |||||||||||||||
Total |
¥ | 349,898 | 100.0 | % | ¥ | 345,047 | 100.0 | % | 101.4 | % | ||||||||||
- 7 -
Three months ended September 30 | ||||||||||||
% to | ||||||||||||
2005 | 2004 | prior year | ||||||||||
Operating revenue: |
||||||||||||
Net sales |
¥ | 181,553 | ¥ | 177,696 | 102.2 | % | ||||||
Royalty revenue |
4,162 | 3,864 | 107.7 | |||||||||
Total operating revenue |
185,715 | 181,560 | 102.3 | |||||||||
Operating costs and expenses: |
||||||||||||
Cost of sales |
148,180 | 133,601 | 110.9 | |||||||||
Selling, general and administrative expenses |
45,054 | 39,573 | 113.9 | |||||||||
Total operating costs and expenses |
193,234 | 173,174 | 111.6 | |||||||||
Operating income (loss) |
(7,519 | ) | 8,386 | | ||||||||
Other income (expenses): |
||||||||||||
Interest income |
625 | 432 | 144.7 | |||||||||
Foreign exchange loss |
(323 | ) | (228 | ) | 141.7 | |||||||
Interest expense |
(325 | ) | (315 | ) | 103.2 | |||||||
Othernet |
2,197 | (76 | ) | | ||||||||
Total other income (expenses) |
2,174 | (187 | ) | | ||||||||
Income (loss) before income taxes |
(5,345 | ) | 8,199 | | ||||||||
Income taxes |
342 | 3,937 | 8.7 | |||||||||
Minority interest in losses (earnings) of subsidiaries |
718 | (270 | ) | | ||||||||
Equity in losses of affiliated companies |
(1,949 | ) | (680 | ) | 286.6 | |||||||
Net income (loss) |
¥ | (6,918 | ) | ¥ | 3,312 | | % | |||||
Six months ended September 30 | ||||||||||||
% to | ||||||||||||
2005 | 2004 | prior year | ||||||||||
Operating revenue: |
||||||||||||
Net sales |
¥ | 344,613 | ¥ | 338,308 | 101.9 | % | ||||||
Royalty revenue |
5,285 | 6,739 | 78.4 | |||||||||
Total operating revenue |
349,898 | 345,047 | 101.4 | |||||||||
Operating costs and expenses: |
||||||||||||
Cost of sales |
278,393 | 250,878 | 111.0 | |||||||||
Selling, general and administrative expenses |
87,893 | 80,771 | 108.8 | |||||||||
Total operating costs and expenses |
366,286 | 331,649 | 110.4 | |||||||||
Operating income (loss) |
(16,388 | ) | 13,398 | | ||||||||
Other income (expenses): |
||||||||||||
Interest income |
1,252 | 790 | 158.5 | |||||||||
Foreign exchange loss |
(1,065 | ) | (1,161 | ) | 91.7 | |||||||
Interest expense |
(720 | ) | (689 | ) | 104.5 | |||||||
Othernet |
4,967 | 100 | 4,967.0 | |||||||||
Total other income (expenses) |
4,434 | (960 | ) | | ||||||||
Income (loss) before income taxes |
(11,954 | ) | 12,438 | | ||||||||
Income taxes |
(1,210 | ) | 5,544 | | ||||||||
Minority interest in losses (earnings) of subsidiaries |
1,285 | (560 | ) | | ||||||||
Equity in losses of affiliated companies |
(2,802 | ) | (1,525 | ) | 183.7 | |||||||
Net income (loss) |
¥ | (12,261 | ) | ¥ | 4,809 | | % | |||||
- 8 -
September 30 | March 31 | |||||||||||||||||||
Increase/ | Increase/ | |||||||||||||||||||
2005 | 2004 | (Decrease) | 2005 | (Decrease) | ||||||||||||||||
ASSETS |
||||||||||||||||||||
Current assets: |
||||||||||||||||||||
Cash and cash equivalents |
¥ | 107,198 | ¥ | 123,936 | ¥ | (16,738 | ) | ¥ | 116,681 | ¥ | (9,483 | ) | ||||||||
Trade receivables, less allowance |
126,981 | 119,863 | 7,118 | 132,176 | (5,195 | ) | ||||||||||||||
Inventories |
126,594 | 135,504 | (8,910 | ) | 109,015 | 17,579 | ||||||||||||||
Others |
75,628 | 74,711 | 917 | 69,024 | 6,604 | |||||||||||||||
Total current assets |
436,401 | 454,014 | (17,613 | ) | 426,896 | 9,505 | ||||||||||||||
Investments and long-term receivables |
25,268 | 29,553 | (4,285 | ) | 28,828 | (3,560 | ) | |||||||||||||
Property, plant and equipment,
less depreciation |
203,557 | 208,964 | (5,407 | ) | 210,145 | (6,588 | ) | |||||||||||||
Intangible assets |
22,974 | 25,590 | (2,616 | ) | 24,052 | (1,078 | ) | |||||||||||||
Other assets |
39,393 | 39,015 | 378 | 35,246 | 4,147 | |||||||||||||||
Total assets |
¥ | 727,593 | ¥ | 757,136 | ¥ | (29,543 | ) | ¥ | 725,167 | ¥ | 2,426 | |||||||||
LIABILITIES
AND SHAREHOLDERS EQUITY |
||||||||||||||||||||
Current liabilities: |
||||||||||||||||||||
Short-term borrowings and current
portion of long-term debt |
¥ | 55,560 | ¥ | 40,615 | ¥ | 14,945 | ¥ | 52,428 | ¥ | 3,132 | ||||||||||
Trade payables |
104,831 | 103,031 | 1,800 | 96,335 | 8,496 | |||||||||||||||
Others |
101,857 | 104,554 | (2,697 | ) | 102,407 | (550 | ) | |||||||||||||
Total current liabilities |
262,248 | 248,200 | 14,048 | 251,170 | 11,078 | |||||||||||||||
Long-term debt |
79,512 | 87,397 | (7,885 | ) | 81,219 | (1,707 | ) | |||||||||||||
Other long-term liabilities |
41,705 | 58,909 | (17,204 | ) | 42,371 | (666 | ) | |||||||||||||
Minority interests |
17,085 | 18,281 | (1,196 | ) | 18,168 | (1,083 | ) | |||||||||||||
Shareholders equity: |
||||||||||||||||||||
Common stock |
49,049 | 49,049 | | 49,049 | | |||||||||||||||
Capital surplus |
82,834 | 82,612 | 222 | 82,735 | 99 | |||||||||||||||
Retained earnings |
246,987 | 276,334 | (29,347 | ) | 260,556 | (13,569 | ) | |||||||||||||
Accumulated other comprehensive
income (loss) |
(39,390 | ) | (53,185 | ) | 13,795 | (47,669 | ) | 8,279 | ||||||||||||
Treasury stock |
(12,437 | ) | (10,461 | ) | (1,976 | ) | (12,432 | ) | (5 | ) | ||||||||||
Total shareholders equity |
327,043 | 344,349 | (17,306 | ) | 332,239 | (5,196 | ) | |||||||||||||
Total liabilities and
shareholders equity |
¥ | 727,593 | ¥ | 757,136 | ¥ | (29,543 | ) | ¥ | 725,167 | ¥ | 2,426 | |||||||||
Breakdown of accumulated other comprehensive |
||||||||||||||||||||
income (loss): |
||||||||||||||||||||
Minimum pension liability adjustments |
¥ | (11,391 | ) | ¥ | (21,714 | ) | ¥ | 10,323 | ¥ | (11,186 | ) | ¥ | (205 | ) | ||||||
Net unrealized holding gain on securities |
7,475 | 7,516 | (41 | ) | 8,250 | (775 | ) | |||||||||||||
Cumulative foreign currency translation
adjustments |
(35,474 | ) | (38,987 | ) | 3,513 | (44,733 | ) | 9,259 | ||||||||||||
Total accumulated other comprehensive
income (loss) |
¥ | (39,390 | ) | ¥ | (53,185 | ) | ¥ | 13,795 | ¥ | (47,669 | ) | ¥ | 8,279 | |||||||
- 9 -
Accumulated | ||||||||||||||||||||||||
Other | Total | |||||||||||||||||||||||
Common | Capital | Retained | Comprehensive | Treasury | Shareholders | |||||||||||||||||||
Stock | Surplus | Earnings | Income (Loss) | Stock | Equity | |||||||||||||||||||
Balance at March 31, 2004 |
¥ | 49,049 | ¥ | 82,464 | ¥ | 273,718 | ¥ | (61,829 | ) | ¥ | (10,464 | ) | ¥ | 332,938 | ||||||||||
Net loss |
(8,789 | ) | (8,789 | ) | ||||||||||||||||||||
Other comprehensive income |
14,160 | 14,160 | ||||||||||||||||||||||
Value ascribed to stock options |
270 | 270 | ||||||||||||||||||||||
Cash dividends (¥25 per share) |
(4,373 | ) | (4,373 | ) | ||||||||||||||||||||
Purchase and sales of treasury
stock, net |
1 | (1,968 | ) | (1,967 | ) | |||||||||||||||||||
Balance at March 31, 2005 |
¥ | 49,049 | ¥ | 82,735 | ¥ | 260,556 | ¥ | (47,669 | ) | ¥ | (12,432 | ) | ¥ | 332,239 | ||||||||||
Net loss |
(12,261 | ) | (12,261 | ) | ||||||||||||||||||||
Other comprehensive income |
8,279 | 8,279 | ||||||||||||||||||||||
Value ascribed to stock options |
99 | 99 | ||||||||||||||||||||||
Cash dividends (¥7.5 per share) |
(1,308 | ) | (1,308 | ) | ||||||||||||||||||||
Purchase and sales of treasury
stock, net
|
(5 | ) | (5 | ) | ||||||||||||||||||||
Balance at September 30, 2005 |
¥ | 49,049 | ¥ | 82,834 | ¥ | 246,987 | ¥ | (39,390 | ) | ¥ | (12,437 | ) | ¥ | 327,043 | ||||||||||
Three months | Six months | |||||||||||||||
ended September 30 | ended September 30 | |||||||||||||||
2005 | 2004 | 2005 | 2004 | |||||||||||||
I. Operating activities: |
||||||||||||||||
Net income (loss) |
¥ | (6,918 | ) | ¥ | 3,312 | ¥ | (12,261 | ) | ¥ | 4,809 | ||||||
Depreciation and amortization |
11,575 | 10,778 | 24,122 | 21,287 | ||||||||||||
(Increase) decrease in trade receivables |
(15,718 | ) | (8,194 | ) | 7,160 | 415 | ||||||||||
(Increase) decrease in inventories |
1,396 | (6 | ) | (14,635 | ) | (18,814 | ) | |||||||||
Increase (decrease) in trade payables |
5,607 | (76 | ) | 8,016 | 7,168 | |||||||||||
Increase (decrease) in other accrued liabilities |
10,822 | 1,545 | 2,737 | (11,185 | ) | |||||||||||
Other |
(4,484 | ) | (5,714 | ) | (13,919 | ) | (7,711 | ) | ||||||||
Net cash provided by (used in) operating
activities |
2,280 | 1,645 | 1,220 | (4,031 | ) | |||||||||||
II. Investing activities: |
||||||||||||||||
Payment for purchase of fixed assets |
(10,355 | ) | (12,646 | ) | (19,282 | ) | (26,284 | ) | ||||||||
Payment for purchase of subsidiary |
| (36,615 | ) | | (36,615 | ) | ||||||||||
Other |
3,354 | (17 | ) | 7,357 | 338 | |||||||||||
Net cash used in investing activities |
(7,001 | ) | (49,278 | ) | (11,925 | ) | (62,561 | ) | ||||||||
III. Financing activities: |
||||||||||||||||
Increase (decrease) in short-term borrowings
and long-term debt |
(3,183 | ) | 1,035 | 2,866 | (3,034 | ) | ||||||||||
Dividends paid |
| | (2,180 | ) | (2,193 | ) | ||||||||||
Other |
(1,034 | ) | (220 | ) | (2,073 | ) | (323 | ) | ||||||||
Net cash provided by (used in) financing
activities |
(4,217 | ) | 815 | (1,387 | ) | (5,550 | ) | |||||||||
Effect of exchange rate changes on cash
and cash equivalents |
1,366 | 1,792 | 2,609 | 3,659 | ||||||||||||
Net decrease in cash and cash equivalents |
(7,572 | ) | (45,026 | ) | (9,483 | ) | (68,483 | ) | ||||||||
Cash and cash equivalents, beginning of period |
114,770 | 168,962 | 116,681 | 192,419 | ||||||||||||
Cash and cash equivalents, end of period |
¥ | 107,198 | ¥ | 123,936 | ¥ | 107,198 | ¥ | 123,936 | ||||||||
Free cash flow (I + II) |
¥ | (4,721 | ) | ¥ | (47,633 | ) | ¥ | (10,705 | ) | ¥ | (66,592 | ) | ||||
- 10 -
Three months ended September 30 | ||||||||||||||||||||||||
2005 | 2004 | % to prior year | ||||||||||||||||||||||
Operating | Operating | Operating | Operating | Operating | Operating | |||||||||||||||||||
Revenue | Income | Revenue | Income | Revenue | Income | |||||||||||||||||||
Home Electronics |
¥ | 82,264 | ¥ | (13,140 | ) | ¥ | 77,368 | ¥ | 32 | 106.3 | % | | % | |||||||||||
Car Electronics |
78,516 | 2,896 | 75,401 | 4,658 | 104.1 | 62.2 | ||||||||||||||||||
Patent Licensing |
4,201 | 3,598 | 4,318 | 3,843 | 97.3 | 93.6 | ||||||||||||||||||
Others |
31,556 | (566 | ) | 37,828 | 987 | 83.4 | | |||||||||||||||||
Total |
196,537 | (7,212 | ) | 194,915 | 9,520 | 100.8 | | |||||||||||||||||
Corporate and Eliminations |
(10,822 | ) | (307 | ) | (13,355 | ) | (1,134 | ) | | | ||||||||||||||
Consolidated |
¥ | 185,715 | ¥ | (7,519 | ) | ¥ | 181,560 | ¥ | 8,386 | 102.3 | % | | % | |||||||||||
Six months ended September 30 | ||||||||||||||||||||||||
2005 | 2004 | % to prior year | ||||||||||||||||||||||
Operating | Operating | Operating | Operating | Operating | Operating | |||||||||||||||||||
Revenue | Income | Revenue | Income | Revenue | Income | |||||||||||||||||||
Home Electronics |
¥ | 145,772 | ¥ | (25,568 | ) | ¥ | 133,751 | ¥ | (4,290 | ) | 109.0 | % | | % | ||||||||||
Car Electronics |
161,124 | 8,210 | 155,002 | 10,974 | 103.9 | 74.8 | ||||||||||||||||||
Patent Licensing |
5,324 | 3,969 | 7,580 | 6,592 | 70.2 | 60.2 | ||||||||||||||||||
Others |
59,195 | (1,320 | ) | 71,196 | 2,035 | 83.1 | | |||||||||||||||||
Total |
371,415 | (14,709 | ) | 367,529 | 15,311 | 101.1 | | |||||||||||||||||
Corporate and Eliminations |
(21,517 | ) | (1,679 | ) | (22,482 | ) | (1,913 | ) | | | ||||||||||||||
Consolidated |
¥ | 349,898 | ¥ | (16,388 | ) | ¥ | 345,047 | ¥ | 13,398 | 101.4 | % | | % | |||||||||||
Six months ended September 30 | ||||||||||||||||||||||||
2005 | 2004 | % to prior year | ||||||||||||||||||||||
Operating | Operating | Operating | Operating | Operating | Operating | |||||||||||||||||||
Revenue | Income | Revenue | Income | Revenue | Income | |||||||||||||||||||
Japan |
¥ | 292,978 | ¥ | (15,665 | ) | ¥ | 292,347 | ¥ | 6,858 | 100.2 | % | | % | |||||||||||
North America |
92,524 | (1,810 | ) | 84,058 | 3,073 | 110.1 | | |||||||||||||||||
Europe |
66,311 | (1,315 | ) | 66,208 | (1,070 | ) | 100.2 | | ||||||||||||||||
Other Regions |
160,224 | 3,700 | 143,206 | 3,841 | 111.9 | 96.3 | ||||||||||||||||||
Total |
612,037 | (15,090 | ) | 585,819 | 12,702 | 104.5 | | |||||||||||||||||
Corporate and Eliminations |
(262,139 | ) | (1,298 | ) | (240,772 | ) | 696 | | | |||||||||||||||
Consolidated |
¥ | 349,898 | ¥ | (16,388 | ) | ¥ | 345,047 | ¥ | 13,398 | 101.4 | % | | % | |||||||||||
- 11 -
1. | The Companys consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. |
2. | The consolidated financial statements include the accounts of the parent company and 126 subsidiaries and the investments in 5 affiliated companies accounted for on an equity basis. |
3. | Effective from fiscal 2005 year-end presentation, operating income (loss) is presented as net sales less cost of sales, selling, general and administrative expenses in order to be consistent with generally accepted financial reporting practice in Japan. The Company believes that such presentation is useful for comparison of the Companys financial results with those of other Japanese companies. Under the U.S. GAAP, business restructuring expenses and losses on impairment of long-lived assets as well as gains and losses on sale and disposal of fixed assets included in Othernet are included in operating income (loss). Previously reported amounts in consolidated statements of operations and segment information have been reclassified accordingly. |
4. | Effective from this fiscal 2006, the Company changed business segment classification for certain businesses. Results related to plasma displays for business use and DJ equipment have been moved from Others to Home Electronics. Corresponding figures for the previously reported operating revenue by segment and segment information have been reclassified accordingly. |
- 12 -
II. | NON-CONSOLIDATED FINANCIAL STATEMENTS | |
FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2005 |
Six months ended September 30 | ||||||||||||||||||||
2005 | 2004 | % to | ||||||||||||||||||
Amount | % to total | Amount | % to total | prior year | ||||||||||||||||
Domestic |
¥ | 31,923 | 13.0 | % | ¥ | 32,120 | 13.7 | % | 99.4 | % | ||||||||||
Export |
84,303 | 34.3 | 77,616 | 33.2 | 108.6 | |||||||||||||||
Home Electronics |
116,226 | 47.3 | 109,737 | 46.9 | 105.9 | |||||||||||||||
Domestic |
55,997 | 22.8 | 61,362 | 26.3 | 91.2 | |||||||||||||||
Export |
73,053 | 29.7 | 62,086 | 26.5 | 117.7 | |||||||||||||||
Car Electronics |
129,051 | 52.5 | 124,173 | 52.8 | 103.9 | |||||||||||||||
Domestic |
494 | 0.2 | 788 | 0.3 | 62.8 | |||||||||||||||
Export |
47 | 0.0 | 64 | 0.0 | 72.9 | |||||||||||||||
Others |
541 | 0.2 | 852 | 0.3 | 63.5 | |||||||||||||||
Domestic |
88,416 | 36.0 | 94,995 | 40.3 | 93.1 | |||||||||||||||
Export |
157,403 | 64.0 | 139,767 | 59.7 | 112.6 | |||||||||||||||
Total |
¥ | 245,819 | 100.0 | % | ¥ | 234,039 | 100.0 | % | 104.7 | % | ||||||||||
Note: | Effective from this fiscal 2006, the Company changed business segment classification for certain businesses. Results related to plasma displays for business use and DJ equipment have been moved from Others to Home Electronics. Previously reported amounts have been reclassified accordingly. |
Six months ended September 30 | ||||||||||||||||
2005 | 2004 | |||||||||||||||
% to | % to | |||||||||||||||
Amount | net sales | Amount | net sales | |||||||||||||
Net sales |
¥ | 245,819 | 100.0 | % | ¥ | 234,039 | 100.0 | % | ||||||||
Cost of sales |
213,720 | 86.9 | 191,874 | 82.0 | ||||||||||||
Selling, general and administrative expenses |
41,592 | 17.0 | 41,981 | 17.9 | ||||||||||||
Operating income (loss) |
(9,493 | ) | (3.9 | ) | 183 | 0.1 | ||||||||||
Non-operating incomenet |
54 | 0.1 | 2,098 | 0.9 | ||||||||||||
Ordinary income (loss) |
(9,439 | ) | (3.8 | ) | 2,282 | 1.0 | ||||||||||
Other income (expenses)net |
357 | 0.1 | (0 | ) | (0.0 | ) | ||||||||||
Income (loss) before income taxes |
(9,081 | ) | (3.7 | ) | 2,281 | 1.0 | ||||||||||
Income taxes |
(3,709 | ) | (1.5 | ) | 141 | 0.1 | ||||||||||
Net income (loss) |
¥ | (5,371 | ) | (2.2 | )% | ¥ | 2,140 | 0.9 | % | |||||||
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September 30 | March 31 | |||||||||||
2005 | 2004 | 2005 | ||||||||||
ASSETS |
||||||||||||
Current assets: |
||||||||||||
Cash |
¥ | 46,162 | ¥ | 33,829 | ¥ | 40,502 | ||||||
Notes and accounts receivabletrade |
46,605 | 38,018 | 51,833 | |||||||||
Marketable securities |
| 18,683 | 11,685 | |||||||||
Inventories |
29,044 | 34,733 | 28,018 | |||||||||
Other current assets |
31,020 | 64,070 | 41,683 | |||||||||
Total current assets |
152,832 | 189,336 | 173,724 | |||||||||
Fixed assets: |
||||||||||||
Tangible |
52,674 | 48,282 | 53,301 | |||||||||
Intangible |
28,523 | 21,335 | 29,826 | |||||||||
Investments and others |
208,751 | 204,768 | 201,893 | |||||||||
Total fixed assets |
289,949 | 274,386 | 285,021 | |||||||||
Total assets |
¥ | 442,782 | ¥ | 463,722 | ¥ | 458,745 | ||||||
LIABILITIES
AND SHAREHOLDERS EQUITY |
||||||||||||
Current liabilities: |
||||||||||||
Notes and accounts payabletrade |
¥ | 53,827 | ¥ | 50,129 | ¥ | 52,738 | ||||||
Accrued expenses |
37,471 | 34,730 | 40,152 | |||||||||
Other current liabilities |
15,350 | 26,766 | 23,611 | |||||||||
Total current liabilities |
106,649 | 111,627 | 116,502 | |||||||||
Long-term liabilities |
73,279 | 76,100 | 73,237 | |||||||||
Total liabilities |
179,929 | 187,727 | 189,740 | |||||||||
Shareholders equity |
262,852 | 275,995 | 269,005 | |||||||||
Total liabilities and shareholders equity |
¥ | 442,782 | ¥ | 463,722 | ¥ | 458,745 | ||||||
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