Briefing on items on the agenda
Latest Update : July 2, 2009
Back to Shareholders' Meetings (Year 2009)
The 63rd Ordinary General Meeting of Shareholders
1. Business Report
There was a brief explanation covering the information provided on pages 4 to 17 of the Notice of the 63rd Ordinary General Meeting of Shareholders.
2. Consolidated Balance Sheet
The following brief explanation refers to the balance sheet shown on pages 18 and 19 of the Notice of the 63rd Ordinary General Meeting of Shareholders.
Total assets dropped 35,147 million yen from the previous consolidated fiscal year end to total 285,396 million yen. The primary reasons for this drop included decreases in notes and accounts receivable due to declined sales as well as the decrease in foreign currency denominated assets at our overseas subsidiaries due to the stronger yen.
Total liabilities were 178,633 million yen, down 10,181 million yen from the previous consolidated fiscal year end. The main reason for this drop was the decrease in notes and accounts payable due to a decline in purchases.
Total net assets fell 24,968 million yen year on year to total 106,762 million yen. Although net income was in the black for this fiscal year, total net assets decreased as a result of the repurchase of our own shares as well as the decrease in foreign currency translation adjustments due to the appreciation of the yen.
These results all add up to total liabilities and net assets of 285,396 million yen, a 35,147 million yen drop from the previous consolidated fiscal year end.
3. Consolidated Statement of Income
The following brief explanation refers to the consolidated statement of income, which is shown on page 20 of the Notice of the 63rd Ordinary General Meeting of Shareholders.
Net sales decreased 78,267 million yen from the previous consolidated fiscal year to total 256,163 million yen.
Operating income also dropped by 17,356 million yen from the previous consolidated fiscal year to total 13,406 million yen.
Ordinary income totaled 11,555 million yen, with a year-on-year decrease of 16,136 million yen. Primary factors for this decline included lower interest rates, as well as a reduction in corporate bonds, which resulted in a drop in non-operating expenses due to decreases in interest payments.
Net income totaled 2,441 million yen.
4. Consolidated Statement of Changes in Net Assets and Notes
The consolidated statement of changes in net assets and notes are shown on pages 21 through 27 of the Notice of the 63rd Ordinary General Meeting of Shareholders.
5. Non-Consolidated Balance Sheet
The following brief explanation refers to the non-consolidated balance sheet, which is shown on page 28 and 29 of the Notice of the 63rd Ordinary General Meeting of Shareholders.
Total assets for the fiscal year came to 316,688 million yen. Compared with the previous fiscal year end, total assets fell by 20,182 million yen due primarily to a decrease in accounts receivable as a result of declined sales as well as a decrease in differed tax assets.
Total liabilities fell 12,877 million yen year on year to total 143,934 million yen. This was due primarily to a decrease in accounts payable as a result of a drop in purchases.
Total net assets decreased by 7,304 million yen from the previous consolidated fiscal year end to total 172,754 million yen. This decrease was primarily triggered by the decline in shareholders' equity caused by the repurchase of our own shares as well as a decrease in difference on revaluation of other marketable securities whose market value has dropped.
These results mentioned above added up to total liabilities and net assets of 316,688 million yen, representing a year on year drop of 20,182 million yen.
6. Non-Consolidated Statement of Income
The following brief explanation refers to the non-consolidated statement of income, which is described on page 30 of the Notice of the 63rd Ordinary General Meeting of Shareholders.
Net sales fell by 50,005 million yen from the previous fiscal year to total 175,066 million yen. This drop was due to declined sales of ball bearings, information motors, and HDD spindle motors as a result of the general economic downturn.
We saw a year-on-year decrease of 7,016 million yen in operating income, resulting in an operating loss of 386 million yen. This drop was due primarily to declined sales.
As a result, ordinary income totaled 8,627 million yen, a decrease of 3,637 million yen from the previous fiscal year.
These figures combined added up to a net income that came to 3,770 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 stated on pages 31 through 37 of the Notice of the 63rd Ordinary General Meeting of Shareholders.
This concludes our briefing on the Business Report, Consolidated Balance Sheet, Consolidated Statement of Income, Consolidated Statement of Change in Net Assets and Notes, Non-Consolidated Balance Sheet, Non-Consolidated Statement of Income, and Non-Consolidated Statement of Change in Net Assets and Notes.
