Summary of Financial Results for FY2002 | Press Releases

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Summary of Financial Results for the Fiscal Year ended March 31, 2002

April 26, 2002, Tokyo, Japan -- Oki Electric Industry Co., Ltd. today announced its summary of financial results for the fiscal year ended March 31, 2002, and projections for the next fiscal year.

1. Consolidated Financial Results for the Fiscal Year ended March 31, 2002

1.1 Summary of Consolidated Financial Results

		Fiscal year ended March 2002	Fiscal year ended March 2001	Change(%)
Net sales	Million yen	604,572	740,250	-18.3
Operating income	Million yen	-27,247	28,314	—
Net income	Million yen	-34,077	8,944	—
Net income per share	Yen	-55.66	14.61	—
Diluted net income per share	Yen	—	14.52	—
Net income ratio to total shareholders' equity	%	-26.4	6.1
Operating income ratio to net sales	%	-4.5	3.8

1.2 Summary of Consolidated Financial Conditions

		Fiscal year ended March 2002	Fiscal year ended March 2001
Total assets	Million yen	651,581	732,483
Total shareholders' equity	Million yen	109,066	148,844
Total shareholders' equity ratio	%	16.7	20.3
Shareholders' equity per share	Yen	178.16	243.12

1.3 Summary of Consolidated Statements of Cash Flows

		Fiscal year ended March 2002	Fiscal year ended March 2001
Net cash provided by operating activities	Million yen	16,927	62,405
Net cash used in investing activities	Million yen	-25,848	-13,938
Net cash provided by (used in) financing activities	Million yen	320	-63.557
Cash and cash equivalents at end of the period	Million yen	45,445	52,885

2. Projections for Consolidated Financial Results for Fiscal Year ending March 31, 2003

		Net sales	Operating income	Net income
Interim period ending September 30, 2002	Million yen	260,000	-9,500	-8,500
Fiscal year ending March 31, 2003	Million yen	640,000	8,000	0

Appendix
Consolidated Results by Business Segments

1. Net Sales by Business Segments (Sales to third party)

(Billion yen)

	Before business segment re-categorization			After business segment re-categorization
	FY ended Mar. 31, 2002	FY ended Mar. 31, 2001	Change (%)	FY ending Mar. 31, 2003 (projection)	FY ended Mar. 31, 2002	Change (%)
Information systems	337.7	352.4	-4.2	345.0	347.3	-0.7
Telecommunications systems	117.9	163.3	-27.8	110.0	103.2	6.6
Electronic devices	113.6	181.9	-37.6	130.0	113.6	14.4
Other operations	35.2	42.5	-17.2	55.0	40.4	35.9
Total	604.5	740.2	-18.3	640.0	604.5	5.9

2. Operating Income by Business Segments

(Billion yen)

	Before business segment re-categorization			After business segment re-categorization
	FY ended Mar. 31, 2002	FY ended Mar. 31, 2001	Change (%)	FY ending Mar. 31, 2003 (projection)	FY ended Mar. 31, 2002	Change (%)
Information systems	2.9	1.4	96.6	12.0	3.1	285.9
Telecommunications systems	-9.3	7.2	—	2.0	-9.5	—
Electronic devices	-11.8	29.8	—	4.0	-11.8	—
Other operations	0.7	1.2	-38.0	2.0	0.7	163.2
Corporate and eliminations	-9.7	-11.5	—	-12.0	-9.7	—
Total	-27.2	28.3	—	8.0	-27.2	—

3. Acquisitions of Property, Plant and Equipment by Business Segments

(Billion yen)

	FY ended Mar. 31, 2002	FY ended Mar. 31, 2001	Change (%)	FY ending Mar. 31, 2003 (projection)	Change to previous year (%)
Information systems	7.6	10.7	-28.9	9.5	24.0
Telecommunications systems	2.7	3.3	-18.0	2.5	-8.1
Electronic devices	14.7	27.9	-47.1	19.0	28.5
Other operations	2.5	3.4	-24.5	2.0	-22.4
Total	27.7	45.4	-39.0	33.0	18.9
Depreciation	37.5	39	-3.7	37.0	-1.6

4. Research and Development Expenses by Business Segments

(Billion yen)

	FY ended Mar. 31, 2002	FY ended Mar. 31, 2001	Change (%)	FY ending Mar. 31, 2003 (projection)	Change to previous year (%)
Information systems	10.0	13.5	-25.8	8.5	-15.7
Telecommunications systems	3.4	6.6	-48.8	3.0	-12.4
Electronic devices	6.4	7.2	-10.5	6.5	0.6
Other operations	2.6	2.3	10.5	2.5	-3.9
Total	22.5	29.8	-24.4	20.5	-9.2

Status of Oki group

The following chart shows the business dealing relations between Oki Electric Industry Co., Ltd. (parent company) and its related companies of Oki group.

Type (Number of consolidated subsidiaries)	Major Consolidated Subsidiaries
* 1 Sales Companies (32 companies)	Oki Microelectronics Co., Ltd., Oki Telecom Co., Ltd., Oki America, Inc., Oki Data Americas, Inc., Oki Europe Ltd., Oki Systems (Deutschland) GmbH, Oki Electric Europe GmbH, Oki Electronics (Hong Kong) Ltd., Oki Semiconductor Singapore Pte. Ltd.
* 2 Manufacturing & Sales Companies (24 companies)	Oki Data Corporation, Oki Communication Systems Co., Ltd.,Oki Printed Circuits Co., Ltd., Nagano Oki Electric Co., Ltd.Shizuoka Oki Electric Co., Ltd., Miyazaki Oki Electric Co., Ltd.Miyagi Oki Electric Co., Ltd., Oki Sensor Device Corp.,Oki Micro Engineering Co., Ltd., Oki Telecom, Inc., Oki Data Manufacturing (Thailand) Co., Ltd., Oki (Thailand) Co., Ltd.
* 3 Software & Services Companies (20 companies)	Oki Wintech Co., Ltd.(**), Oki Customer Adtech Co., Ltd.Oki Software Co., Ltd., Oki Telecommunication Systems Co., Ltd.Oki Information Systems Co., Ltd., OKICOMTEC Ltd., Oki Micro Design Co., Ltd., Oki Logistics Co., Ltd., Oki Engineering Co., Ltd., Oki Alpha Create Inc.

(Consolidated Subsidiaries: 77 companies)

* (**) Oki Wintech Co., Ltd. (changed its company name from Oki Electric Installation Co., Ltd. on January 1, 2002) lists stocks to the Tokyo Stock Exchange Second Section.
* Other than the above list, Oki Electric Cable Co., Ltd. is an affiliate accounted for by the equity method.