Fiscal 2004 Financial Results
(1) Overview of Financial Results
Net sales were 2,539.8 billion yen, up 12.5 % over the previous year, representing a record high for two consecutive years.
Operating income was 151.0 billion yen, up 24.1 % over the previous year, yielding an operating profit ratio of 5.9%, an improvement of 0.5 of a percentage point over the previous year. Net income was 76.8 billion yen, up 26.6% over the previous year. Both operating income and net income represent record highs for two years in a row.
(2) Results by Product Group
Note: Sales by Product Group include internal sales between segments (Consumer/Information Products and Electronic Components).
Sales of Audio-Visual and Communication Equipment were 973.1 billion yen, up 16.1% over the previous year. Sales of LCD color TVs, mainly for large-screen models, and 3G mobile phones grew. Sales of Home Appliances were 212.2 billion yen, up 1.8% over the previous year. Sales of Information Equipment were 426.6 billion yen, up 6.5% over the previous year.
As a result, sales of the above three product groups of Consumer/Information Products were 1,612.0 billion yen, up 11.4% over the previous year.
Sales of ICs were 206.6 billion yen, down 10.9% from the previous year. Sales of CCD and CMOS imagers improved slightly over the previous year, but sales of flash memory decreased compared to the previous year due to a fall in price.
Sales of LCDs were 720.1 billion yen, up 36.2% over the previous year. Sales of LCD panels for use in TVs expanded thanks to our Kameyama Plant reaching full-scale operation, and sales of small- and medium-size panels also expanded, particularly System LCDs.
Sales of Other Electronic Components were 270.5 billion yen, up 11.0% over the previous year as the solar cells drove strong sales.
As a result, sales of the above three product groups that comprise Electronic Components were 1,197.3 billion yen, up 19.2% over the previous year.
Operating income for Consumer/Information Products was 57.0 billion yen, up 20.2% over the previous year, and the operating profit ratio was 3.5%. At the same time, operating income for Electronic Components was 93.5 billion yen, up 26.4% over the previous year, and the operating profit ratio was 7.8%.
(3) Capital Investment, Depreciation and Amortization, R&D Expenditures
Capital investment was 213.0 billion yen, down 5.3% from the previous year. Depreciation and amortization was 175.9 billion yen, up 10.1%. And R&D expenditures were 175.5 billion yen, up 7.7%.