Summary of Financial Results for the Fiscal Year ended March 31, 2003
April 28, 2003, Tokyo, Japan -- Oki Electric Industry Co., Ltd. (TSE: 6703) today announced its summary of the financial results for the fiscal year ended March 31, 2003, and the projections for the next fiscal year.
Financial Results | Appendix (Results by Business Segments) | Appendix (Status of Oki Group)
1. Consolidated Financial Results for the Fiscal Year ended March 31, 2003
1.1 Summary of Consolidated Financial Results
| FY ended Mar. 31, 2003 |
FY ended Mar. 31, 2002 |
Change (%) | ||
|---|---|---|---|---|
| Net sales | Million yen | 585,473 | 604,572 | -3.2 |
| Operating income | Million yen | 1,368 | -27,247 | — |
| Net income | Million yen | -6,560 | -34,077 | — |
| Net income per share | Yen | -10.72 | -55.66 | — |
| Diluted net income per share | Yen | — | — | — |
| Net income ratio to total shareholders' equity | % | -6.2 | -26.4 | — |
| Operating income ratio to net sales | % | 0.2 | -4.5 | — |
1.2 Summary of Consolidated Financial Conditions
| FY ended Mar. 31, 2003 |
FY ended Mar. 31, 2002 |
||
|---|---|---|---|
| Total assets | Million yen | 622,891 | 651,581 |
| Total shareholders' equity | Million yen | 101,323 | 109,066 |
| Total shareholders' equity ratio | % | 16.3 | 16.7 |
| Shareholders' equity per share | Yen | 165.63 | 178.16 |
1.3 Summary of Consolidated Statements of Cash Flows
| FY ended Mar. 31, 2003 |
FY ended Mar. 31, 2002 |
||
|---|---|---|---|
| Net cash provided by operationg activities | Million yen | 225 | 16,927 |
| Net cash provided by (used in) investing activities | Million yen | 4,317 | -25,848 |
| Net cash provided by (used in) financing activities | Million yen | -20,077 | 320 |
| Cash and cash equivalents at end of the period | Million yen | 29,294 | 45,445 |
2. Summary of Consolidated Statements of Cash Flows
| Net sales | Operating income |
Net income | ||
|---|---|---|---|---|
| Interim period ending September 30, 2003 | Million yen | 265,000 | -6,000 | -8,500 |
| Fiscal yesr ending March 31, 2004 | Million yen | 630,000 | 20,000 | 3,500 |
Appendix
Consolidated Results by Business Segments
1. Net Sales by Business Segments (Sales to third party)
(Billion yen)
| FY ended Mar. 31, 2002 |
FY ended Mar. 31, 2003 |
Change (%) | FY ending Mar. 31, 2004 (projection) |
Change (%) | |
|---|---|---|---|---|---|
| Information systems | 347.4 | 330.3 | -4.9 | 345.0 | 4.4 |
| Telecommunications systems | 103.2 | 85.7 | -17.0 | 95.0 | 10.8 |
| Electronic devices | 113.6 | 119.2 | 4.9 | 135.0 | 13.2 |
| Other operations | 40.2 | 50.1 | 24.5 | 55.0 | 9.7 |
| Total | 604.5 | 585.4 | -3.2 | 630.0 | 7.6 |
2. Operating Income by Business Segments
(Billion yen)
| FY ended Mar. 31, 2002 |
FY ended Mar. 31, 2003 |
Change (%) | FY ending Mar. 31, 2004 (projection) |
Change (%) | |
|---|---|---|---|---|---|
| Information systems | 3.1 | 19.8 | 536.3 | 25.0 | 26.0 |
| Telecommunications systems | -9.5 | -8.1 | — | 1.0 | — |
| Electronic devices | -11.8 | -0.9 | — | 4.0 | — |
| Other operations | 0.7 | 1.0 | 31.9 | 2.0 | 96.5 |
| Corporate and eliminations | -9.7 | -10.3 | — | -12.0 | — |
| Total | -27.2 | 1.3 | — | 20.0 | — |
3. Acquisitions of Property, Plant and Equipment by Business Segments
(Billion yen)
| FY ended Mar. 31, 2002 |
FY ended Mar. 31, 2003 |
Change (%) | FY ending Mar. 31, 2004 (projection) |
Change (%) | |
|---|---|---|---|---|---|
| Information systems | 7.7 | 7.7 | 0.0 | 10.5 | 35.7 |
| Telecommunications systems | 2.5 | 1.2 | -50.4 | 1.5 | 17.6 |
| Electronic devices | 14.7 | 15.2 | 3.1 | 15.0 | -1.6 |
| Other operations | 2.6 | 1.0 | -59.9 | 3.0 | 182.0 |
| Total | 27.7 | 25.3 | -8.7 | 30.0 | 18.5 |
| Depreciation | 37.5 | 29.9 | -20.3 | 29.0 | -3.2 |
4. Research and Development Expenses by Business Segments
(Billion yen)
| FY ended Mar. 31, 2002 |
FY ended Mar. 31, 2003 |
Change (%) | FY ending Mar. 31, 2004 (projection) |
Change (%) | |
|---|---|---|---|---|---|
| Information systems | 10.4 | 5.6 | -45.9 | 7.0 | 24.0 |
| Telecommunications systems | 3.0 | 2.2 | -28.1 | 2.0 | -9.2 |
| Electronic devices | 6.4 | 5.3 | -16.9 | 5.3 | -1.3 |
| Other operations | 2.6 | 1.9 | -23.2 | 2.7 | 35.1 |
| Total | 22.5 | 15.2 | -32.6 | 17.0 | 11.7 |
Appendix
Status of Oki group
The following chart shows the outline of the business dealing relations between Oki Electric Industry Co., Ltd. (parent company) and its related companies of Oki group.
| Types (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 (25 companies) |
Oki Data Corporation, Oki Communication Systems Co., Ltd.,Nagano Oki Electric Co., Ltd., Oki Printed Circuits 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 (24 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., Oki Techno Creation Co., Ltd. |
(Consolidated Subsidiaries: 81 companies)
- * (**) Oki Wintech Co., Ltd. lists stocks to the Tokyo Stock Exchange Second Section.
- * Other than the above list, Oki Electric Cable Co., Ltd. and Center Systems Service Ltd. are affiliates accounted for by the equity method.
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