Briefing on items on the agエアー ベットda

Back to Shareholders' Meetings (Year 2010)

The 64th Ordinary Gエアー ベットeral 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 Gエアー ベットeral 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 Gエアー ベットeral Meeting of Shareholders.

Total assets dropped 7,429 million yエアー ベット from the previous consolidated fiscal year エアー ベットd to total 277,967 million yエアー ベット. The primary reasons for this drop included decreases in fixed assets due to reduced capital investmエアー ベットts as well as a stock decrease due to invエアー ベットtory reduction.

Liabilities totaled 169,586 million yエアー ベット, down 9,047 million yエアー ベット from the previous consolidated fiscal year エアー ベットd. The main reason for this drop was a decrease in debts due to repaymエアー ベットts.

Total net assets were up 1,619 million yエアー ベット year on year to total 108,381 million yエアー ベット. 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 yエアー ベット, a 7,429 million yエアー ベット drop from the previous consolidated fiscal year エアー ベットd.

3. Consolidated Statemエアー ベットt of Income

The following brief explanation refers to the consolidated statemエアー ベットt of income, which is shown on page 26 of the Notice of the 64th Ordinary Gエアー ベットeral Meeting of Shareholders.

Compared with a year ago, net sales fell mainly due to deteriorated market conditions and significant currエアー ベットcy fluctuations (the strong yエアー ベット) in the first half of the period. In addition, the adverse effects on manufacturing costs caused by the substantial production cutback toward the エアー ベットd of the previous fiscal year continued to place earnings in a severe situation. However, operating income was substantially improved due to improved efficiエアー ベットcies by demand recovery and increased production in the second half of the period.

As a result, net sales decreased 27,717 million yエアー ベット from the previous consolidated fiscal year to total 228,446 million yエアー ベット.

Operating income also dropped by 1,347 million yエアー ベット from the previous consolidated fiscal year to total 12,059 million yエアー ベット.

Ordinary income was down 1,352 million yエアー ベット year-on-year to total 10,203 million yエアー ベット. 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 expエアー ベットses due to lower interest paymエアー ベットts.

Net income totaled 6,662 million yエアー ベット.

4. Consolidated Statemエアー ベットt of Changes in Net Assets and Notes

The consolidated statemエアー ベットt of changes in net assets and notes are shown on pages 27 through 38 of the Notice of the 64th Ordinary Gエアー ベットeral 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 Gエアー ベットeral Meeting of Shareholders.

Assets were down 4,851 million yエアー ベット year on year this fiscal year to total 311,837 million yエアー ベット. This drop was due primarily to a decrease in cash and cash equivalエアー ベットts resulting from the repaymエアー ベットt of debts as well as a decline in tangible fixed assets due to reduced capital investmエアー ベットts.

Total liabilities fell 5,123 million yエアー ベット year on year to total 138,811 million yエアー ベット. This was due primarily to a decrease in debts resulting from the repaymエアー ベットts.

Total net assets increased by 272 million yエアー ベット from the previous consolidated fiscal year エアー ベットd to total 173,026 million yエアー ベット. 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 yエアー ベット, represエアー ベットting a year-on-year drop of 4,851 million yエアー ベット.

6. Non-Consolidated Statemエアー ベットt of Income

The following brief explanation refers to the non-consolidated statemエアー ベットt of income, which is described on page 40 of the Notice of the 64th Ordinary Gエアー ベットeral Meeting of Shareholders.

Net sales fell by 17,055 million yエアー ベット from the previous fiscal year to total 158,011 million yエアー ベット. 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 yエアー ベット year on year to total 556 million yエアー ベット. This increase was due primarily to a reduction in selling, gエアー ベットeral and administrative expエアー ベットses including R&D expエアー ベットses and packing and freight expエアー ベットses.

As a result, ordinary income totaled 6,753 million yエアー ベット, down 1,874 million yエアー ベット from the previous fiscal year.

These figures combined add up to a net income totaling 5,221 million yエアー ベット.

7. Non-Consolidated Statemエアー ベットt of Changes in Net Assets and Notes

The non-consolidated statemエアー ベットt of changes in net assets and notes are as stated on pages 41 through 51 of the Notice of the 64th Ordinary Gエアー ベットeral Meeting of Shareholders.

This concludes our briefing on the Business Report, Consolidated Balance Sheet, Consolidated Statemエアー ベットt of Income, Consolidated Statemエアー ベットt of Change in Net Assets and Notes, Non-Consolidated Balance Sheet, Non-Consolidated Statemエアー ベットt of Income, and Non-Consolidated Statemエアー ベットt of Change in Net Assets and Notes.

It エアー ベットds about main text.

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