Briefing on items on the agenda
Latest Update : July 11, 2008
Back to Shareholders' Meetings (Year 2008)
The 62nd Ordinary General Meeting of Shareholders
1. Business Report
There was a brief explanation covering the information on pages 4 to 13 of the Notice of the 62nd Ordinary General Meeting of Shareholders.
2. Consolidated Balance Sheet
The following brief explanation refers to the balance sheet shown on pages 14 and 15 of the Notice of the 62nd Ordinary General Meeting of Shareholders.
Total assets were 320,544 million yen.
Compared to the previous consolidated fiscal year end, total assets decreased by 34,239 million yen.
The main reasons for this were decreases in notes receivable and accounts receivable due to efficient use of assets, and the decrease in foreign currency denominated assets due to the stronger yen.
Total liabilities were 188,814 million yen.
Compared to the previous consolidated fiscal year end, liabilities decreased by 23,412 million yen.
The main reason for this was repayment of short term borrowings and long term borrowings.
Total net assets were 131,730 million yen.
Compared to the previous consolidated fiscal year end, total net assets decreased by 10,827 million yen.
Due to increased profits, capital surplus increased and shareholders' equity grew steadily, but foreign currency translation adjustments decreased along with the stronger yen, resulting in a decrease in total net assets.
The above resulted in total liabilities and net assets of 320,544 million yen.
Compared to the previous consolidated fiscal year end, total liabilities and net assets decreased by 34,239 million yen.
3. Consolidated Statement of Income
The following brief explanation refers to the consolidated statement of income, which is on page 16 of the notice of the 62nd ordinary general meeting of shareholders.
Net Sales were 334,431 million yen.
Compared to the previous consolidated fiscal year, Net Sales increased by 3,409 million yen.
This was a new record for the company, for the second consecutive year.
Operating Income was 30,762 million yen.
Compared to the previous consolidated fiscal year, Operating Income increased by 4,497 million yen.
We gave an outline of "Net sales" and "Operating Income" in the Business Report, so we omit their explanation here.
Regarding Ordinary Income, reduced borrowings led to lower interest payments,producing improved non-operating expenses, which resulted in Ordinary Income of 27,691 million yen.
Compared to the previous consolidated fiscal year, Ordinary Income increased by 5,848 million yen.
Net Income was 16,303 million yen.
Net Income set a new record for the company, for the first time in 10 years since the fiscal year ended March 31, 1998.
4. Consolidated Statement of Changes in Net Assets and Notes
The consolidated statement of changes in net assets and notes are as noted on pages 17 through 21 of the notice of the 62nd ordinary general meeting of shareholders. Thus we omit their explanation here.
5. Non-Consolidated Balance Sheets
The following brief explanation refers to the non-consolidated balance sheets, which are on page 22 and 23 of the notice of the 62nd ordinary general meeting of shareholders.
Total assets were 336,870 million yen.
Compared to the previous fiscal year end, total assets decreased by 20,233 million yen.
The main reasons for this were reduced accounts receivable and short-term loans receivable from affiliates.
Total liabilities were 156,812 million yen.
Compared to the previous fiscal year end, total liabilities decreased by 18,945 million yen.
The main reason for this was repayment of borrowings.
Total net assets were 180,058 million yen.
Compared to the previous fiscal year end, total net assets decreased by 1,287 million yen.
The main reason for this was decrease in difference on revaluation of other marketable securities.
The above resulted in total liabilities and net assets of 336,870 million yen.
Compared to the previous fiscal year end, total liabilities and net assets decreased by 20,233 million yen.
6. Non-Consolidated Statement of Income
The following brief explanation refers to the non-consolidated statement of income, which is on page 24 of the notice of the 62nd ordinary general meeting of shreholders.
Net Sales were 225,071 million yen.
Compared to the previous fiscal year, Net Sales decreased by 3,335 million yen.
The main reason for this was lower sales of speakers, keyboards, etc. in the electronic devices and components business.
Operating Income was 6,630 million yen.
Compared to the previous fiscal year, Operating Income decreased by 2,317 million yen.
The main reasons for this were reduced earnings due to lower sales in ball bearings and others, and increased R&D costs due to development of high value-added products and new technologies.
Ordinary Income was 12,265 million yen.
Compared to the previous fiscal year, Ordinary Income decreased by 131 million yen.
Net Income was 4,304 million yen.
7. Non-Consolidated Statement of Changes in Net Assets and Notes
The non-consolidated statement of changes in net assets and notes are as noted on pages 25 through 31 of the notice of the 62nd ordinary general meeting of shareholders. Thus we omit their explanation here.
This concludes our report on the Business Report, Consolidated Balance Sheets, Consolidated Statement of Income, Consolidated Statement of Change in Net Assets and Notes, Non-Consolidated Balance Sheets, Non-Consolidated Statement of Income, and Non-Consolidated Statement of Change in Net Assets and Notes.
