Briefing on items on the agenda
Latest Update : July 2, 2010
Back to Shareholders' Meetings (Year 2010)
The 64th Ordinary General Meeting of Shareholders
1. Business Report
There was a brief explanation covering the information provided on pages 4 to 24 of the Notice of the 64th Ordinary General Meeting of Shareholders.
2. Consolidated Balance Sheet
The following brief explanation refers to the balance sheet shown on page 25 of the Notice of the 64th Ordinary General Meeting of Shareholders.
Total assets dropped 7,429 million yen from the previous consolidated fiscal year end to total 277,967 million yen. The primary reasons for this drop included decreases in fixed assets due to reduced capital investments as well as a stock decrease due to inventory reduction.
Liabilities totaled 169,586 million yen, down 9,047 million yen from the previous consolidated fiscal year end. The main reason for this drop was a decrease in debts due to repayments.
Total net assets were up 1,619 million yen year on year to total 108,381 million yen. This rise was due primarily to an increase in retained earnings from net income despite a drop due to a repurchase of our own shares.
These results all add up to total liabilities and net assets of 277,967 million yen, a 7,429 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 26 of the Notice of the 64th Ordinary General Meeting of Shareholders.
Compared with a year ago, net sales fell mainly due to deteriorated market conditions and significant currency fluctuations (the strong yen) in the first half of the period. In addition, the adverse effects on manufacturing costs caused by the substantial production cutback toward the end of the previous fiscal year continued to place earnings in a severe situation. However, operating income was substantially improved due to improved efficiencies by demand recovery and increased production in the second half of the period.
As a result, net sales decreased 27,717 million yen from the previous consolidated fiscal year to total 228,446 million yen.
Operating income also dropped by 1,347 million yen from the previous consolidated fiscal year to total 12,059 million yen.
Ordinary income was down 1,352 million yen year-on-year to total 10,203 million yen. The primary factors behind this decline include lower interest rates, as well as a reduction in interest-bearing debts, which resulted in a drop in non-operating expenses due to lower interest payments.
Net income totaled 6,662 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 27 through 38 of the Notice of the 64th 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 39 of the Notice of the 64th Ordinary General Meeting of Shareholders.
Assets were down 4,851 million yen year on year this fiscal year to total 311,837 million yen. This drop was due primarily to a decrease in cash and cash equivalents resulting from the repayment of debts as well as a decline in tangible fixed assets due to reduced capital investments.
Total liabilities fell 5,123 million yen year on year to total 138,811 million yen. This was due primarily to a decrease in debts resulting from the repayments.
Total net assets increased by 272 million yen from the previous consolidated fiscal year end to total 173,026 million yen. Primary factors for this increase include an increase in retained earnings from net income despite a decrease as a result of repurchasing our own shares.
These results all added up to total liabilities and net assets of 311,837 million yen, representing a year-on-year drop of 4,851 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 40 of the Notice of the 64th Ordinary General Meeting of Shareholders.
Net sales fell by 17,055 million yen from the previous fiscal year to total 158,011 million yen. This drop was mainly due to declined sales as a result of the deterioration in market conditions during the first fiscal half.
Operating income rose 942 million yen year on year to total 556 million yen. This increase was due primarily to a reduction in selling, general and administrative expenses including R&D expenses and packing and freight expenses.
As a result, ordinary income totaled 6,753 million yen, down 1,874 million yen from the previous fiscal year.
These figures combined add up to a net income totaling 5,221 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 41 through 51 of the Notice of the 64th 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.
