Oki Writes Down First-half Losses in Marketable Securities
October 2, 2001, Tokyo, Japan -- Oki Electric announced today that it has written down losses of 13,764million yen on marketable securities in its statement of operations for the interim period ended September 30, 2001.
- Total write-down losses of securities (Non-consolidated)
| (A) Total write-down losses of securities with quoted market prices for interim period ended September 30, 2001
|
13,764million yen
|
(B) Net asset value for fiscal term ended March 31, 2001
(A/B x 100) |
177,056million yen
(7.8%) |
(C) Recurring income for fiscal term ended March 31, 2001
(A/C x 100) |
17,937million yen
(76.7%) |
(D) Net income for fiscal term ended March 31, 2001
(A/D x 100) |
11,892million yen
(115.7%) |
Held-to-maturity securities are either amortized or accumulated to face value. Other securities with quoted market prices are carried at market value of the closing dates. The difference between the acquisition costs and the carrying value of other securities, including unrealized gains or losses, is recognized as a component of shareholders' equity. Other securities without quoted market prices are stated at cost.
- Projections
Projections for interim period ended September 30, 2001 and results of previous fiscal term ended
March 31, 2001
(1) Consolidated
| |
Net Sales |
Recurring
Income |
Net
Income |
| April 1, 2001 - September 30, 2001 (Projections)
|
290,000 |
(5,000) |
(3,000) |
| April 1, 2000 - March 31, 2001 (Results)
|
740,250 |
22,240 |
8,944 |
(2) Non-consolidated
| |
Net Sales |
Recurring
Income |
Net
Income |
| April 1, 2001 - September 30, 2001 (Projections)
|
200,000 |
(1,500) |
1,000 |
| April 1, 2000 - March 31, 2001 (Results)
|
534,452 |
17,937 |
11,892 |
Because the above projections (both consolidated and non-consolidated) do not include the write-down losses, the actual net income (loss) for the interim period will decrease (increase) by the amount of the write-down losses after adjustments for income taxes. (Approximately 8.0 billion yen)
Oki also released today consolidated and non-consolidated projections for the fiscal term ending March 31, 2002.
Note: Please note that the projections, prospects, and targets mentioned above are based on current conditions in the business environment, and that actual results might differ, depending on future developments.
Press Contact:
Public Relations Division
Phone: +81-3-3580-8950 |
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| Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice. | |
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