CANON INC. (Registrant) |
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Date.... April 24, 2008.... | By | ....../s/...... Hiroshi Kawashimo. | ||
(Signature)* | ||||
Hiroshi Kawashimo Deputy Senior General Manager Global Finance Center Canon Inc. |
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1. | CONSOLIDATED RESULTS FOR THE FIRST QUARTER ENDED MARCH 31, 2008 |
Actual | Projected | |||||||||||||||||||||||
Three months | Three months | Three months | Year ending | |||||||||||||||||||||
ended | ended | Change(%) | Ended | December 31, | Change(%) | |||||||||||||||||||
March 31, 2008 | March 31, 2007 | March 31, 2008 | 2008 | |||||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||||||||||
Net sales |
¥ | 1,007,538 | ¥ | 1,039,793 | - 3.1 | $ | 10,075,380 | ¥ | 4,570,000 | + 2.0 | ||||||||||||||
Operating profit |
170,830 | 207,403 | - 17.6 | 1,708,300 | 770,000 | +1.8 | ||||||||||||||||||
Income before income taxes
and minority interests |
166,642 | 207,844 | - 19.8 | 1,666,420 | 785,000 | +2.2 | ||||||||||||||||||
Net income |
¥ | 106,644 | ¥ | 131,250 | - 18.7 | $ | 1,066,440 | ¥ | 500,000 | +2.4 | ||||||||||||||
Net income per share: |
||||||||||||||||||||||||
- Basic |
¥ | 84.57 | ¥ | 99.28 | - 14.8 | $ | 0.85 | ¥ | 396.50 | +5.0 | ||||||||||||||
- Diluted |
84.56 | 99.25 | - 14.8 | 0.85 | | | ||||||||||||||||||
Actual | ||||||||||||||||||||||||
As of | As of | As of | ||||||||||||||||||||||
March 31, | December 31, | Change(%) | March 31, | |||||||||||||||||||||
2008 | 2007 | 2008 | ||||||||||||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||||||||||
Total assets |
¥ | 4,211,258 | ¥ | 4,512,625 | - 6.7 | $ | 42,112,580 | |||||||||||||||||
Stockholders equity |
¥ | 2,846,767 | ¥ | 2,922,336 | - 2.6 | $ | 28,467,670 | |||||||||||||||||
Notes:
|
1. | Canons consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles. | ||||
2. | U.S. dollar amounts are translated from yen at the rate of JPY100 = U.S.$1, the approximate exchange rate on the Tokyo Foreign Exchange Market as of March 31, 2008, solely for the convenience of the reader. |
Canon Inc.
|
30-2, Shimomaruko 3-chome, Ohta-ku, | |
Headquarter office
|
Tokyo 146-8501, Japan | |
Phone: +81-3-3758-2111 |
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- 2 -
- 3 -
- 4 -
Semi-Annual | Millions of yen | |||||||||||||||||||
Six months ending | Change | Six months ended | Change (%) | |||||||||||||||||
June 30, 2008 | June 30, 2007 | |||||||||||||||||||
Previous Outlook (A) | Revised Outlook (B) | (B - A) | Results (C) | (B - C) / C | ||||||||||||||||
Net sales |
¥ | 2,230,000 | ¥ | 2,120,000 | ¥ | (110,000 | ) | ¥ | 2,166,724 | - 2.2 | % | |||||||||
Operating profit |
390,000 | 324,000 | (66,000 | ) | 388,876 | - 16.7 | % | |||||||||||||
Income before income
taxes and minority interests |
408,000 | 328,000 | (80,000 | ) | 406,141 | - 19.2 | % | |||||||||||||
Net income |
256,000 | 209,000 | (47,000 | ) | 255,183 | - 18.1 | % | |||||||||||||
Fiscal year | Millions of yen | |||||||||||||||||||
Year ending | Change | Year ended | Change (%) | |||||||||||||||||
December 31, 2008 | December 31, 2007 | |||||||||||||||||||
Previous Outlook (A) | Revised Outlook (B) | (B - A) | Results (C) | (B - C) / C | ||||||||||||||||
Net sales |
¥ | 4,720,000 | ¥ | 4,570,000 | ¥ | (150,000 | ) | ¥ | 4,481,346 | + 2.0 | % | |||||||||
Operating profit |
800,000 | 770,000 | (30,000 | ) | 756,673 | + 1.8 | % | |||||||||||||
Income
before income
taxes and minority interests |
820,000 | 785,000 | (35,000 | ) | 768,388 | + 2.2 | % | |||||||||||||
Net income |
520,000 | 500,000 | (20,000 | ) | 488,332 | + 2.4 | % | |||||||||||||
- 5 -
Thousands of | ||||||||||||||||
Millions of yen | U.S. dollars | |||||||||||||||
Three months | Three months | Three months | ||||||||||||||
ended | ended | Change(%) | ended | |||||||||||||
March 31, 2008 | March 31, 2007 | March 31, 2008 | ||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
Net sales |
¥ | 1,007,538 | ¥ | 1,039,793 | - 3.1 | $ | 10,075,380 | |||||||||
Cost of sales |
507,673 | 506,116 | 5,076,730 | |||||||||||||
Gross profit |
499,865 | 533,677 | - 6.3 | 4,998,650 | ||||||||||||
Operating expenses: |
||||||||||||||||
Selling, general and administrative expenses |
249,480 | 253,344 | 2,494,800 | |||||||||||||
Research and development expenses |
79,555 | 72,930 | 795,550 | |||||||||||||
329,035 | 326,274 | 3,290,350 | ||||||||||||||
Operating profit |
170,830 | 207,403 | - 17.6 | 1,708,300 | ||||||||||||
Other income (deductions): |
||||||||||||||||
Interest and dividend income |
6,193 | 8,255 | 61,930 | |||||||||||||
Interest expense |
(412 | ) | (393 | ) | (4,120 | ) | ||||||||||
Other, net |
(9,969 | ) | (7,421 | ) | (99,690 | ) | ||||||||||
(4,188 | ) | 441 | (41,880 | ) | ||||||||||||
Income before income taxes and
minority interests |
166,642 | 207,844 | - 19.8 | 1,666,420 | ||||||||||||
Income taxes |
56,034 | 72,547 | 560,340 | |||||||||||||
Income before minority interests |
110,608 | 135,297 | 1,106,080 | |||||||||||||
Minority interests |
3,964 | 4,047 | 39,640 | |||||||||||||
Net income |
¥ | 106,644 | ¥ | 131,250 | - 18.7 | $ | 1,066,440 | |||||||||
Note:
|
Comprehensive income for the three months ended March 31, 2008 and 2007 was JPY409 million | |
(U.S.$4,090 thousand) and JPY184,096 million, respectively. |
Thousands of | ||||||||||||||||
Sales by product | Millions of yen | U.S. dollars | ||||||||||||||
Three months | Three months | Three months | ||||||||||||||
ended | ended | Change(%) | ended | |||||||||||||
March 31, 2008 | March 31, 2007 | March 31, 2008 | ||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
Business machines: |
||||||||||||||||
Office imaging products |
¥ | 287,524 | ¥ | 305,562 | -5.9 | $ | 2,875,240 | |||||||||
Computer peripherals |
379,509 | 383,097 | -0.9 | 3,795,090 | ||||||||||||
Business information products |
24,753 | 26,732 | -7.4 | 247,530 | ||||||||||||
691,786 | 715,391 | -3.3 | 6,917,860 | |||||||||||||
Cameras |
218,995 | 222,443 | -1.6 | 2,189,950 | ||||||||||||
Optical and other products |
96,757 | 101,959 | -5.1 | 967,570 | ||||||||||||
Total |
¥ | 1,007,538 | ¥ | 1,039,793 | -3.1 | $ | 10,075,380 | |||||||||
Thousands of | ||||||||||||||||
Sales by region | Millions of yen | U.S. dollars | ||||||||||||||
Three months | Three months | Three months | ||||||||||||||
ended | ended | Change(%) | ended | |||||||||||||
March 31, 2008 | March 31, 2007 | March 31, 2008 | ||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
Japan |
¥ | 227,781 | ¥ | 232,459 | - 2.0 | $ | 2,277,810 | |||||||||
Overseas: |
||||||||||||||||
Americas |
270,664 | 306,624 | -11.7 | 2,706,640 | ||||||||||||
Europe |
337,116 | 337,791 | -0.2 | 3,371,160 | ||||||||||||
Other areas |
171,977 | 162,919 | +5.6 | 1,719,770 | ||||||||||||
779,757 | 807,334 | -3.4 | 7,797,570 | |||||||||||||
Total |
¥ | 1,007,538 | ¥ | 1,039,793 | -3.1 | $ | 10,075,380 | |||||||||
Notes:
|
1. | The primary products included in each of the product segments are as follows: | ||||
Business machines: | ||||||
Office imaging products : Office network digital multifunction devices (MFDs) / Color network digital MFDs / | ||||||
Office
copying machines / Personal-use copying machines / Full-color copying
machines |
||||||
Computer peripherals : Laser beam printers / Inkjet multifunction peripherals / Single function inkjet printers / Image scanners | ||||||
Business information products : Computer information systems / Document scanners / Personal information products | ||||||
Cameras : Digital SLR cameras / Digital compact cameras / Interchangeable lenses / Digital video camcorders | ||||||
Optical and other products : Semiconductor production equipment / Mirror projection mask aligners for LCD panels / | ||||||
Broadcasting equipment / Medical equipment / Large format printers / Components |
||||||
2. | The principal countries and regions included in each regional category are as follows: | |||||
Americas: United States of America, Canada, Latin America / Europe: England, Germany, France, Netherlands / | ||||||
Other Areas: Asian regions, China, Oceania |
- 6 -
Thousands of | ||||||||||||||||
Millions of yen | U.S. dollars | |||||||||||||||
Three months | Three months | Three months | ||||||||||||||
ended | ended | Change(%) | ended | |||||||||||||
March 31, 2008 | March 31, 2007 | March 31, 2008 | ||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||||||
Business Machines |
||||||||||||||||
Net sales: |
||||||||||||||||
Unaffiliated customers |
¥ | 691,786 | ¥ | 715,391 | -3.3 | $ | 6,917,860 | |||||||||
Intersegment |
| | | | ||||||||||||
Total |
691,786 | 715,391 | -3.3 | 6,917,860 | ||||||||||||
Operating cost and expenses |
528,607 | 538,880 | -1.9 | 5,286,070 | ||||||||||||
Operating profit |
163,179 | 176,511 | -7.6 | 1,631,790 | ||||||||||||
Cameras |
||||||||||||||||
Net sales: |
||||||||||||||||
Unaffiliated customers |
¥ | 218,995 | ¥ | 222,443 | -1.6 | $ | 2,189,950 | |||||||||
Intersegment |
| | | | ||||||||||||
Total |
218,995 | 222,443 | -1.6 | 2,189,950 | ||||||||||||
Operating cost and expenses |
173,269 | 161,913 | +7.0 | 1,732,690 | ||||||||||||
Operating profit |
45,726 | 60,530 | -24.5 | 457,260 | ||||||||||||
Optical and other products |
||||||||||||||||
Net sales: |
||||||||||||||||
Unaffiliated customers |
¥ | 96,757 | ¥ | 101,959 | -5.1 | $ | 967,570 | |||||||||
Intersegment |
56,215 | 51,659 | +8.8 | 562,150 | ||||||||||||
Total |
152,972 | 153,618 | -0.4 | 1,529,720 | ||||||||||||
Operating cost and expenses |
147,642 | 135,626 | +8.9 | 1,476,420 | ||||||||||||
Operating profit |
5,330 | 17,992 | -70.4 | 53,300 | ||||||||||||
Corporate and Eliminations |
||||||||||||||||
Net sales: |
||||||||||||||||
Unaffiliated customers |
¥ | | ¥ | | | $ | | |||||||||
Intersegment |
(56,215 | ) | (51,659 | ) | | (562,150 | ) | |||||||||
Total |
(56,215 | ) | (51,659 | ) | | (562,150 | ) | |||||||||
Operating cost and expenses |
(12,810 | ) | (4,029 | ) | | (128,100 | ) | |||||||||
Operating profit |
(43,405 | ) | (47,630 | ) | | (434,050 | ) | |||||||||
Consolidated |
||||||||||||||||
Net sales: |
||||||||||||||||
Unaffiliated customers |
¥ | 1,007,538 | ¥ | 1,039,793 | -3.1 | $ | 10,075,380 | |||||||||
Intersegment |
| | | | ||||||||||||
Total |
1,007,538 | 1,039,793 | -3.1 | 10,075,380 | ||||||||||||
Operating cost and expenses |
836,708 | 832,390 | +0.5 | 8,367,080 | ||||||||||||
Operating profit |
170,830 | 207,403 | -17.6 | 1,708,300 | ||||||||||||
Note:
|
General corporate expenses of JPY43,295 million (U.S.$432,950 thousand) and JPY47,630 million in the three months ended March 31, 2008 and 2007, respectively, are included in Corporate and Eliminations. |
- 7 -
Thousands of | ||||||||||||||||
Millions of yen | U.S. dollars | |||||||||||||||
As of | As of | As of | ||||||||||||||
March 31, | December 31, | Change | March 31, | |||||||||||||
2008 | 2007 | 2008 | ||||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
ASSETS |
||||||||||||||||
Current assets: |
||||||||||||||||
Cash and cash equivalents |
¥ | 707,669 | ¥ | 944,463 | ¥ | (236,794 | ) | $ | 7,076,690 | |||||||
Short-term investments |
20,865 | 20,499 | 366 | 208,650 | ||||||||||||
Trade receivables, net |
679,630 | 794,240 | (114,610 | ) | 6,796,300 | |||||||||||
Inventories |
581,769 | 563,474 | 18,295 | 5,817,690 | ||||||||||||
Prepaid expenses and other current assets |
282,661 | 286,111 | (3,450 | ) | 2,826,610 | |||||||||||
Total current assets |
2,272,594 | 2,608,787 | (336,193 | ) | 22,725,940 | |||||||||||
Noncurrent receivables |
14,648 | 15,239 | (591 | ) | 146,480 | |||||||||||
Investments |
124,023 | 90,086 | 33,937 | 1,240,230 | ||||||||||||
Property, plant and equipment, net |
1,367,973 | 1,364,702 | 3,271 | 13,679,730 | ||||||||||||
Other assets |
432,020 | 433,811 | (1,791 | ) | 4,320,200 | |||||||||||
Total assets |
¥ | 4,211,258 | ¥ | 4,512,625 | ¥ | (301,367 | ) | $ | 42,112,580 | |||||||
LIABILITIES AND STOCKHOLDERS EQUITY |
||||||||||||||||
Current liabilities: |
||||||||||||||||
Short-term loans and current portion of long-term debt |
¥ | 16,517 | ¥ | 18,317 | ¥ | (1,800 | ) | $ | 165,170 | |||||||
Trade payables |
496,656 | 514,226 | (17,570 | ) | 4,966,560 | |||||||||||
Accrued income taxes |
70,850 | 150,726 | (79,876 | ) | 708,500 | |||||||||||
Accrued expenses |
303,209 | 357,525 | (54,316 | ) | 3,032,090 | |||||||||||
Other current liabilities |
166,872 | 215,911 | (49,039 | ) | 1,668,720 | |||||||||||
Total current liabilities |
1,054,104 | 1,256,705 | (202,601 | ) | 10,541,040 | |||||||||||
Long-term debt, excluding current installments |
10,368 | 8,680 | 1,688 | 103,680 | ||||||||||||
Accrued pension and severance cost |
41,901 | 44,710 | (2,809 | ) | 419,010 | |||||||||||
Other noncurrent liabilities |
50,757 | 57,324 | (6,567 | ) | 507,570 | |||||||||||
Total liabilities |
1,157,130 | 1,367,419 | (210,289 | ) | 11,571,300 | |||||||||||
Minority interests |
207,361 | 222,870 | (15,509 | ) | 2,073,610 | |||||||||||
Stockholders equity: |
||||||||||||||||
Common stock |
174,698 | 174,698 | | 1,746,980 | ||||||||||||
Additional paid-in capital |
402,675 | 402,991 | (316 | ) | 4,026,750 | |||||||||||
Legal reserve |
51,941 | 46,017 | 5,924 | 519,410 | ||||||||||||
Retained earnings |
2,745,203 | 2,720,146 | 25,057 | 27,452,030 | ||||||||||||
Accumulated other comprehensive income (loss) |
(71,565 | ) | 34,670 | (106,235 | ) | (715,650 | ) | |||||||||
Treasury stock |
(456,185 | ) | (456,186 | ) | 1 | (4,561,850 | ) | |||||||||
Total stockholders equity |
2,846,767 | 2,922,336 | (75,569 | ) | 28,467,670 | |||||||||||
Total liabilities and stockholders equity |
¥ | 4,211,258 | ¥ | 4,512,625 | ¥ | (301,367 | ) | $ | 42,112,580 | |||||||
Thousands of | ||||||||||||||||
Millions of yen | U.S. dollars | |||||||||||||||
As of | As of | As of | ||||||||||||||
March 31, | December 31, | March 31, | ||||||||||||||
2008 | 2007 | 2008 | ||||||||||||||
Notes: | (Unaudited) | (Unaudited) | ||||||||||||||
1. Allowance for doubtful receivables |
¥ | 12,938 | ¥ | 14,547 | $ | 129,380 | ||||||||||
2. Accumulated depreciation |
1,617,247 | 1,594,374 | 16,172,470 | |||||||||||||
3. Accumulated other comprehensive income (loss): |
||||||||||||||||
Foreign currency translation adjustments |
(83,670 | ) | 22,796 | (836,700 | ) | |||||||||||
Net unrealized gains and losses on securities |
4,090 | 6,287 | 40,900 | |||||||||||||
Net gains and losses on derivative instruments |
2,434 | (849 | ) | 24,340 | ||||||||||||
Pension liability adjustments |
5,581 | 6,436 | 55,810 |
4.
|
Time deposits and Marketable securities, which had been previously disclosed separately in the consolidated balance sheets, have been reclassified to Short-term investments to conform to the current year presentation. |
- 8 -
Millions of yen | |||||||||||||||||||||||||||||||||||||
Accumulated | |||||||||||||||||||||||||||||||||||||
Common | Additional | Legal reserve | Retained | other | Treasury | Total | |||||||||||||||||||||||||||||||
Stock | paid-in capital | earnings | comprehensive | stock | stockholders' | ||||||||||||||||||||||||||||||||
income (loss) | equity | ||||||||||||||||||||||||||||||||||||
Balance at December 31, 2007 |
¥ | 174,698 | ¥ | 402,991 | ¥ | 46,017 | ¥ | 2,720,146 | ¥ | 34,670 | ¥ | (456,186 | ) | ¥ | 2,922,336 | ||||||||||||||||||||||
Capital transaction by consolidated subsidiaries |
(312 | ) | (312 | ) | |||||||||||||||||||||||||||||||||
Cash dividends |
(75,663 | ) | (75,663 | ) | |||||||||||||||||||||||||||||||||
Transfers to legal reserve |
5,924 | (5,924 | ) | | |||||||||||||||||||||||||||||||||
Comprehensive income: |
|||||||||||||||||||||||||||||||||||||
Net income |
106,644 | 106,644 | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax |
|||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments |
(106,466 | ) | (106,466 | ) | |||||||||||||||||||||||||||||||||
Net unrealized gains and losses on securities |
(2,197 | ) | (2,197 | ) | |||||||||||||||||||||||||||||||||
Net gains and losses on derivative instruments |
3,283 | 3,283 | |||||||||||||||||||||||||||||||||||
Pension liablity adjustments |
(855 | ) | (855 | ) | |||||||||||||||||||||||||||||||||
Total comprehensive income |
409 | ||||||||||||||||||||||||||||||||||||
Repurchase of treasury stock, net |
(4 | ) | 1 | (3 | ) | ||||||||||||||||||||||||||||||||
Balance at March 31, 2008 (Unaudited) |
¥ | 174,698 | ¥ | 402,675 | ¥ | 51,941 | ¥ | 2,745,203 | ¥ | (71,565 | ) | ¥ | (456,185 | ) | ¥ | 2,846,767 | |||||||||||||||||||||
Balance at December 31, 2006 |
¥ | 174,603 | ¥ | 403,510 | ¥ | 43,600 | ¥ | 2,368,047 | ¥ | 2,718 | ¥ | (5,872 | ) | ¥ | 2,986,606 | ||||||||||||||||||||||
Cumulative effect of a change in accounting
principle adoption of EITF 06-2, net of tax |
(2,204 | ) | (2,204 | ) | |||||||||||||||||||||||||||||||||
Capital transaction by consolidated subsidiaries |
(4 | ) | (4 | ) | |||||||||||||||||||||||||||||||||
Cash dividends |
(66,582 | ) | (66,582 | ) | |||||||||||||||||||||||||||||||||
Transfers to legal reserve |
1,680 | (1,680 | ) | | |||||||||||||||||||||||||||||||||
Comprehensive income: |
|||||||||||||||||||||||||||||||||||||
Net income |
131,250 | 131,250 | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax |
|||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments |
(127 | ) | (127 | ) | |||||||||||||||||||||||||||||||||
Net unrealized gains and losses on securities |
(2,209 | ) | (2,209 | ) | |||||||||||||||||||||||||||||||||
Net gains and losses on derivative instruments |
2,274 | 2,274 | |||||||||||||||||||||||||||||||||||
Pension liablity adjustments |
52,908 | 52,908 | |||||||||||||||||||||||||||||||||||
Total comprehensive income |
184,096 | ||||||||||||||||||||||||||||||||||||
Repurchase of treasury stock, net |
3 | (200,104 | ) | (200,101 | ) | ||||||||||||||||||||||||||||||||
Balance at March 31, 2007 (Unaudited) |
¥ | 174,603 | ¥ | 403,509 | ¥ | 45,280 | ¥ | 2,428,831 | ¥ | 55,564 | ¥ | (205,976 | ) | ¥ | 2,901,811 | ||||||||||||||||||||||
Thousands of U.S. dollars | |||||||||||||||||||||||||||||||||||||
Balance at December 31, 2007 |
$ | 1,746,980 | $ | 4,029,910 | $ | 460,170 | $ | 27,201,460 | $ | 346,700 | $ | (4,561,860 | ) | $ | 29,223,360 | ||||||||||||||||||||||
Capital transaction by consolidated subsidiaries |
(3,120 | ) | (3,120 | ) | |||||||||||||||||||||||||||||||||
Cash dividends |
(756,630 | ) | (756,630 | ) | |||||||||||||||||||||||||||||||||
Transfers to legal reserve |
59,240 | (59,240 | ) | | |||||||||||||||||||||||||||||||||
Comprehensive income: |
|||||||||||||||||||||||||||||||||||||
Net income |
1,066,440 | 1,066,440 | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax |
|||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments |
(1,064,660 | ) | (1,064,660 | ) | |||||||||||||||||||||||||||||||||
Net unrealized gains and losses on securities |
(21,970 | ) | (21,970 | ) | |||||||||||||||||||||||||||||||||
Net gains and losses on derivative instruments |
32,830 | 32,830 | |||||||||||||||||||||||||||||||||||
Pension liablity adjustments |
(8,550 | ) | (8,550 | ) | |||||||||||||||||||||||||||||||||
Total comprehensive income |
4,090 | ||||||||||||||||||||||||||||||||||||
Repurchase of treasury stock, net |
(40 | ) | 10 | (30 | ) | ||||||||||||||||||||||||||||||||
Balance at March 31, 2008 (Unaudited) |
$ | 1,746,980 | $ | 4,026,750 | $ | 519,410 | $ | 27,452,030 | $ | (715,650 | ) | $ | (4,561,850 | ) | $ | 28,467,670 | |||||||||||||||||||||
- 9 -
Thousands of | ||||||||||||
Millions of yen | U.S. dollars | |||||||||||
Three months | Three months | Three months | ||||||||||
ended | ended | ended | ||||||||||
March 31, 2008 | March 31, 2007 | March 31, 2008 | ||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | ||||||||||
Cash flows from operating activities: |
||||||||||||
Net income |
¥ | 106,644 | ¥ | 131,250 | $ | 1,066,440 | ||||||
Adjustments to reconcile net income to net cash
provided by operating activities: |
||||||||||||
Depreciation and amortization |
82,201 | 64,433 | 822,010 | |||||||||
Loss on disposal of property, plant and equipment |
3,685 | 1,338 | 36,850 | |||||||||
Deferred income taxes |
(7,591 | ) | (528 | ) | (75,910 | ) | ||||||
Decrease in trade receivables |
71,298 | 82,451 | 712,980 | |||||||||
Increase in inventories |
(24,585 | ) | (29,776 | ) | (245,850 | ) | ||||||
Increase (decrease) in trade payables |
4,732 | (2,999 | ) | 47,320 | ||||||||
Decrease in accrued income taxes |
(78,470 | ) | (54,284 | ) | (784,700 | ) | ||||||
Decrease in accrued expenses |
(36,112 | ) | (18,579 | ) | (361,120 | ) | ||||||
Decrease in accrued (prepaid) pension and severance cost |
(2,783 | ) | (4,209 | ) | (27,830 | ) | ||||||
Other, net |
(11,530 | ) | (16,287 | ) | (115,300 | ) | ||||||
Net cash provided by operating activities |
107,489 | 152,810 | 1,074,890 | |||||||||
Cash flows from investing activities: |
||||||||||||
Purchases of fixed assets |
(136,165 | ) | (118,912 | ) | (1,361,650 | ) | ||||||
Proceeds from sale of fixed assets |
710 | 1,546 | 7,100 | |||||||||
Purchases of available-for-sale securities |
(3,833 | ) | (1,744 | ) | (38,330 | ) | ||||||
Proceeds from sale of available-for-sale securities |
4,011 | 1,069 | 40,110 | |||||||||
Increase in time deposits |
(204 | ) | (2,241 | ) | (2,040 | ) | ||||||
Acquisitions of subsidiaries, net of cash acquired |
(209 | ) | (3,082 | ) | (2,090 | ) | ||||||
Purchases of other investments |
(44,111 | ) | (1,474 | ) | (441,110 | ) | ||||||
Other, net |
(9,682 | ) | 645 | (96,820 | ) | |||||||
Net cash used in investing activities |
(189,483 | ) | (124,193 | ) | (1,894,830 | ) | ||||||
Cash flows from financing activities: |
||||||||||||
Proceeds from issuance of long-term debt |
3,400 | 742 | 34,000 | |||||||||
Repayments of long-term debt |
(1,175 | ) | (1,462 | ) | (11,750 | ) | ||||||
Increase (decrease) in short-term loans |
(2,632 | ) | 86 | (26,320 | ) | |||||||
Dividends paid |
(75,663 | ) | (66,582 | ) | (756,630 | ) | ||||||
Purchases of treasury stock, net |
(3 | ) | (200,101 | ) | (30 | ) | ||||||
Other, net |
(8,804 | ) | (2,277 | ) | (88,040 | ) | ||||||
Net cash used in financing activities |
(84,877 | ) | (269,594 | ) | (848,770 | ) | ||||||
Effect of exchange rate changes on cash and
cash equivalents |
(69,923 | ) | 323 | (699,230 | ) | |||||||
Net decrease in cash and cash equivalents |
(236,794 | ) | (240,654 | ) | (2,367,940 | ) | ||||||
Cash and cash equivalents at beginning of period |
944,463 | 1,155,626 | 9,444,630 | |||||||||
Cash and cash equivalents at end of period |
¥ | 707,669 | ¥ | 914,972 | $ | 7,076,690 | ||||||
- 10 -
1. | Number of Group Companies |
March 31, 2008 | December 31, 2007 | Change | |||||||||||||||
Subsidiaries |
240 | 239 | 1 | ||||||||||||||
Affiliates |
17 | 15 | 2 | ||||||||||||||
Total |
257 | 254 | 3 | ||||||||||||||
2. | Change in Group of Entities |
Subsidiaries | ||||
Addition: | 6 companies | |||
Removal: | 5 companies | |||
Affiliates (Carried at Equity Basis ) | ||||
Addition: | 2 companies |
3. | Subsidiaries listed on domestic stock exchange | ||
Tokyo Stock Exchange (1st section): Canon Marketing Japan Inc., Canon Electronics Inc., Canon Finetech Inc. Tokyo Stock Exchange (2nd section): Canon Software Inc. Osaka Stock Exchange (2nd section): Canon Machinery Inc. JASDAQ: Nisca Corporation, Tokki Corporation Osaka Stock Exchange (Hercules): e-System Corporation |
- 11 -
1. SALES BY REGION AND PRODUCT | Canon Inc. (Millions of yen) |
2008 | 2007 | Change year over year | ||||||||||||||||||||||||||||||||||||||||||||||||||
1st quarter | 1st half (P) | Year (P) | 1st quarter | 1st half | Year | 1st quarter | 1st half | Year | ||||||||||||||||||||||||||||||||||||||||||||
Japan |
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business machines |
155,500 | | | 146,863 | 302,719 | 636,534 | +5.9 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Office imaging products |
98,403 | | | 90,647 | 183,500 | 384,546 | +8.6 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Computer peripherals |
41,410 | | | 39,002 | 86,009 | 186,214 | +6.2 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Business information products |
15,687 | | | 17,214 | 33,210 | 65,774 | -8.9 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Cameras |
33,348 | | | 39,644 | 72,887 | 149,892 | -15.9 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Optical and other products |
38,933 | | | 45,952 | 82,696 | 161,161 | -15.3 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Total |
227,781 | 468,300 | 989,400 | 232,459 | 458,302 | 947,587 | -2.0 | % | +2.2 | % | +4.4 | % | ||||||||||||||||||||||||||||||||||||||||
Overseas |
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business machines |
536,286 | | | 568,528 | 1,143,868 | 2,299,008 | -5.7 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Office imaging products |
189,121 | | | 214,915 | 448,928 | 906,242 | -12.0 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Computer peripherals |
338,099 | | | 344,095 | 674,678 | 1,351,297 | -1.7 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Business information products |
9,066 | | | 9,518 | 20,262 | 41,469 | -4.7 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Cameras |
185,647 | | | 182,799 | 446,687 | 1,002,771 | +1.6 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Optical and other products |
57,824 | | | 56,007 | 117,867 | 231,980 | +3.2 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Total |
779,757 | 1,651,700 | 3,580,600 | 807,334 | 1,708,422 | 3,533,759 | -3.4 | % | -3.3 | % | +1.3 | % | ||||||||||||||||||||||||||||||||||||||||
Americas |
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business machines |
193,781 | | | 227,770 | 447,382 | 888,189 | -14.9 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Office imaging products |
70,879 | | | 91,115 | 186,908 | 373,093 | -22.2 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Computer peripherals |
118,685 | | | 132,255 | 250,765 | 495,676 | -10.3 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Business information products |
4,217 | | | 4,400 | 9,709 | 19,420 | -4.2 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Cameras |
64,266 | | | 64,143 | 165,340 | 390,768 | +0.2 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Optical and other products |
12,617 | | | 14,711 | 29,227 | 57,211 | -14.2 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Total |
270,664 | 570,500 | 1,239,200 | 306,624 | 641,949 | 1,336,168 | -11.7 | % | -11.1 | % | -7.3 | % | ||||||||||||||||||||||||||||||||||||||||
Europe |
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business machines |
257,765 | | | 256,823 | 524,656 | 1,067,998 | +0.4 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Office imaging products |
94,415 | | | 98,957 | 208,054 | 423,925 | -4.6 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Computer peripherals |
159,236 | | | 153,593 | 308,183 | 626,236 | +3.7 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Business information products |
4,114 | | | 4,273 | 8,419 | 17,837 | -3.7 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Cameras |
69,091 | | | 70,992 | 176,795 | 388,651 | -2.7 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Optical and other products |
10,260 | | | 9,976 | 20,928 | 42,637 | +2.8 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Total |
337,116 | 725,900 | 1,557,800 | 337,791 | 722,379 | 1,499,286 | -0.2 | % | +0.5 | % | +3.9 | % | ||||||||||||||||||||||||||||||||||||||||
Other areas |
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business machines |
84,740 | | | 83,935 | 171,830 | 342,821 | +1.0 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Office imaging products |
23,827 | | | 24,843 | 53,966 | 109,224 | -4.1 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Computer peripherals |
60,178 | | | 58,247 | 115,730 | 229,385 | +3.3 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Business information products |
735 | | | 845 | 2,134 | 4,212 | -13.0 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Cameras |
52,290 | | | 47,664 | 104,552 | 223,352 | +9.7 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Optical and other products |
34,947 | | | 31,320 | 67,712 | 132,132 | +11.6 | % | | | ||||||||||||||||||||||||||||||||||||||||||
Total |
171,977 | 355,300 | 783,600 | 162,919 | 344,094 | 698,305 | +5.6 | % | +3.3 | % | +12.2 | % | ||||||||||||||||||||||||||||||||||||||||
Total |
||||||||||||||||||||||||||||||||||||||||||||||||||||
Business machines |
691,786 | 1,397,800 | 2,933,500 | 715,391 | 1,446,587 | 2,935,542 | -3.3 | % | -3.4 | % | -0.1 | % | ||||||||||||||||||||||||||||||||||||||||
Office imaging products |
287,524 | 617,900 | 1,290,000 | 305,562 | 632,428 | 1,290,788 | -5.9 | % | -2.3 | % | -0.1 | % | ||||||||||||||||||||||||||||||||||||||||
Computer peripherals |
379,509 | 729,900 | 1,543,700 | 383,097 | 760,687 | 1,537,511 | -0.9 | % | -4.0 | % | +0.4 | % | ||||||||||||||||||||||||||||||||||||||||
Business information products |
24,753 | 50,000 | 99,800 | 26,732 | 53,472 | 107,243 | -7.4 | % | -6.5 | % | -6.9 | % | ||||||||||||||||||||||||||||||||||||||||
Cameras |
218,995 | 523,000 | 1,179,300 | 222,443 | 519,574 | 1,152,663 | -1.6 | % | +0.7 | % | +2.3 | % | ||||||||||||||||||||||||||||||||||||||||
Optical and other products |
96,757 | 199,200 | 457,200 | 101,959 | 200,563 | 393,141 | -5.1 | % | -0.7 | % | +16.3 | % | ||||||||||||||||||||||||||||||||||||||||
Total |
1,007,538 | 2,120,000 | 4,570,000 | 1,039,793 | 2,166,724 | 4,481,346 | -3.1 | % | -2.2 | % | +2.0 | % | ||||||||||||||||||||||||||||||||||||||||
- S1 -
2. SEGMENT INFORMATION BY PRODUCT | Canon Inc. (Millions of yen) |
2008 | 2007 | Change year over year | ||||||||||||||||||||||||||||||||||||||||||||||||
1st quarter | 1st half (P) | Year (P) | 1st quarter | 1st half | Year | 1st quarter | 1st half | Year | ||||||||||||||||||||||||||||||||||||||||||
Business machines |
||||||||||||||||||||||||||||||||||||||||||||||||||
Unaffiliated customers |
691,786 | 1,397,800 | 2,933,500 | 715,391 | 1,446,587 | 2,935,542 | -3.3 | % | -3.4 | % | -0.1 | % | ||||||||||||||||||||||||||||||||||||||
Intersegment |
| | | | | | | | | |||||||||||||||||||||||||||||||||||||||||
Total sales |
691,786 | 1,397,800 | 2,933,500 | 715,391 | 1,446,587 | 2,935,542 | -3.3 | % | -3.4 | % | -0.1 | % | ||||||||||||||||||||||||||||||||||||||
Operating profit |
163,179 | 309,400 | 659,200 | 176,511 | 335,471 | 650,261 | -7.6 | % | -7.8 | % | +1.4 | % | ||||||||||||||||||||||||||||||||||||||
% of sales |
23.6 | % | 22.1 | % | 22.5 | % | 24.7 | % | 23.2 | % | 22.2 | % | | | | |||||||||||||||||||||||||||||||||||
Cameras |
||||||||||||||||||||||||||||||||||||||||||||||||||
Unaffiliated customers |
218,995 | 523,000 | 1,179,300 | 222,443 | 519,574 | 1,152,663 | -1.6 | % | +0.7 | % | +2.3 | % | ||||||||||||||||||||||||||||||||||||||
Intersegment |
| | | | | | | | | |||||||||||||||||||||||||||||||||||||||||
Total sales |
218,995 | 523,000 | 1,179,300 | 222,443 | 519,574 | 1,152,663 | -1.6 | % | +0.7 | % | +2.3 | % | ||||||||||||||||||||||||||||||||||||||
Operating profit |
45,726 | 113,300 | 308,100 | 60,530 | 137,303 | 307,426 | -24.5 | % | -17.5 | % | +0.2 | % | ||||||||||||||||||||||||||||||||||||||
% of sales |
20.9 | % | 21.7 | % | 26.1 | % | 27.2 | % | 26.4 | % | 26.7 | % | | | | |||||||||||||||||||||||||||||||||||
Optical and other products |
||||||||||||||||||||||||||||||||||||||||||||||||||
Unaffiliated customers |
96,757 | 199,200 | 457,200 | 101,959 | 200,563 | 393,141 | -5.1 | % | -0.7 | % | +16.3 | % | ||||||||||||||||||||||||||||||||||||||
Intersegment |
56,215 | 114,500 | 271,100 | 51,659 | 107,917 | 238,659 | +8.8 | % | +6.1 | % | +13.6 | % | ||||||||||||||||||||||||||||||||||||||
Total sales |
152,972 | 313,700 | 728,300 | 153,618 | 308,480 | 631,800 | -0.4 | % | +1.7 | % | +15.3 | % | ||||||||||||||||||||||||||||||||||||||
Operating profit |
5,330 | 11,900 | 45,800 | 17,992 | 21,385 | 21,080 | -70.4 | % | -44.4 | % | +117.3 | % | ||||||||||||||||||||||||||||||||||||||
% of sales |
3.5 | % | 3.8 | % | 6.3 | % | 11.7 | % | 6.9 | % | 3.3 | % | | | | |||||||||||||||||||||||||||||||||||
Corporate and Eliminations |
||||||||||||||||||||||||||||||||||||||||||||||||||
Unaffiliated customers |
| | | | | | | | | |||||||||||||||||||||||||||||||||||||||||
Intersegment |
(56,215 | ) | (114,500 | ) | (271,100 | ) | (51,659 | ) | (107,917 | ) | (238,659 | ) | | | | |||||||||||||||||||||||||||||||||||
Total sales |
(56,215 | ) | (114,500 | ) | (271,100 | ) | (51,659 | ) | (107,917 | ) | (238,659 | ) | | | | |||||||||||||||||||||||||||||||||||
Operating profit |
(43,405 | ) | (110,600 | ) | (243,100 | ) | (47,630 | ) | (105,283 | ) | (222,094 | ) | | | | |||||||||||||||||||||||||||||||||||
Consolidated |
||||||||||||||||||||||||||||||||||||||||||||||||||
Unaffiliated customers |
1,007,538 | 2,120,000 | 4,570,000 | 1,039,793 | 2,166,724 | 4,481,346 | -3.1 | % | -2.2 | % | +2.0 | % | ||||||||||||||||||||||||||||||||||||||
Intersegment |
| | | | | | | | | |||||||||||||||||||||||||||||||||||||||||
Total sales |
1,007,538 | 2,120,000 | 4,570,000 | 1,039,793 | 2,166,724 | 4,481,346 | -3.1 | % | -2.2 | % | +2.0 | % | ||||||||||||||||||||||||||||||||||||||
Operating profit |
170,830 | 324,000 | 770,000 | 207,403 | 388,876 | 756,673 | -17.6 | % | -16.7 | % | +1.8 | % | ||||||||||||||||||||||||||||||||||||||
% of sales |
17.0 | % | 15.3 | % | 16.8 | % | 19.9 | % | 17.9 | % | 16.9 | % | | | | |||||||||||||||||||||||||||||||||||
3. OTHER INCOME / DEDUCTIONS | (Millions of yen) |
2008 | 2007 | Change year over year | ||||||||||||||||||||||||||||||||||||||||||||||||
1st quarter | 1st half (P) | Year (P) | 1st quarter | 1st half | Year | 1st quarter | 1st half | Year | ||||||||||||||||||||||||||||||||||||||||||
Interest and dividend, net |
5,781 | 9,200 | 16,500 | 7,862 | 16,572 | 31,348 | (2,081 | ) | (7,372 | ) | (14,848 | ) | ||||||||||||||||||||||||||||||||||||||
Forex gain / loss |
(10,576 | ) | (9,000 | ) | (15,400 | ) | (10,917 | ) | (10,520 | ) | (31,943 | ) | +341 | +1,520 | +16,543 | |||||||||||||||||||||||||||||||||||
Equity earnings / loss
of affiliated companies |
164 | (100 | ) | 1,000 | 2,654 | 5,285 | 5,634 | (2,490 | ) | (5,385 | ) | (4,634 | ) | |||||||||||||||||||||||||||||||||||||
Other, net |
443 | 3,900 | 12,900 | 842 | 5,928 | 6,676 | (399 | ) | (2,028 | ) | +6,224 | |||||||||||||||||||||||||||||||||||||||
Total |
(4,188 | ) | 4,000 | 15,000 | 441 | 17,265 | 11,715 | (4,629 | ) | (13,265 | ) | +3,285 | ||||||||||||||||||||||||||||||||||||||
- S2 -
4. SALES COMPOSITION BY PRODUCT | Canon Inc. |
2008 | 2007 | ||||||||||||||||||||||||||||||
1st quarter | 1st half (P) | Year (P) | 1st quarter | 1st half | Year | ||||||||||||||||||||||||||
Office imaging products |
|||||||||||||||||||||||||||||||
Monochrome copying machines |
42 | % | 41 | % | 41 | % | 46 | % | 46 | % | 45 | % | |||||||||||||||||||
Color copying machines |
36 | % | 37 | % | 37 | % | 35 | % | 35 | % | 35 | % | |||||||||||||||||||
Others |
22 | % | 22 | % | 22 | % | 19 | % | 19 | % | 20 | % | |||||||||||||||||||
Computer peripherals |
|||||||||||||||||||||||||||||||
Laser beam printers |
75 | % | 74 | % | 73 | % | 77 | % | 75 | % | 73 | % | |||||||||||||||||||
Inkjet printers |
24 | % | 25 | % | 26 | % | 22 | % | 24 | % | 26 | % | |||||||||||||||||||
Others |
1 | % | 1 | % | 1 | % | 1 | % | 1 | % | 1 | % | |||||||||||||||||||
Business information products |
|||||||||||||||||||||||||||||||
Personal computers |
63 | % | 62 | % | 61 | % | 63 | % | 62 | % | 62 | % | |||||||||||||||||||
Others |
37 | % | 38 | % | 39 | % | 37 | % | 38 | % | 38 | % | |||||||||||||||||||
Cameras |
|||||||||||||||||||||||||||||||
Digital cameras |
75 | % | 76 | % | 77 | % | 75 | % | 76 | % | 76 | % | |||||||||||||||||||
Video cameras |
7 | % | 8 | % | 8 | % | 8 | % | 8 | % | 8 | % | |||||||||||||||||||
Interchangeable lenses and others |
18 | % | 16 | % | 15 | % | 17 | % | 16 | % | 16 | % | |||||||||||||||||||
Optical and other products |
|||||||||||||||||||||||||||||||
Semiconductor production equipment |
46 | % | 47 | % | 49 | % | 51 | % | 50 | % | 46 | % | |||||||||||||||||||
Others |
54 | % | 53 | % | 51 | % | 49 | % | 50 | % | 54 | % | |||||||||||||||||||
* | Figures related to analog personal copying machines, which were included in Monochrome copying machines of Office imaging products, are now included in Others of Office imaging products. Past figures have been reclassified to conform with the new presentation. | |||
* | The segment previously named Film cameras / Lenses is now named Interchangeable lenses and others. |
2008 | |||||||||||||||||
1st quarter | 1st half (P) | Year (P) | |||||||||||||||
Business machines |
|||||||||||||||||
Japan |
+5.9 | % | | | |||||||||||||
Overseas |
+2.1 | % | | | |||||||||||||
Total |
+2.9 | % | +4.8 | % | +8.2 | % | |||||||||||
Cameras |
|||||||||||||||||
Japan |
-15.9 | % | | | |||||||||||||
Overseas |
+9.2 | % | | | |||||||||||||
Total |
+4.7 | % | +9.5 | % | +11.1 | % | |||||||||||
Optical and other products |
|||||||||||||||||
Japan |
-15.3 | % | | | |||||||||||||
Overseas |
+8.8 | % | | | |||||||||||||
Total |
-2.0 | % | +2.7 | % | +19.8 | % | |||||||||||
Total |
|||||||||||||||||
Japan |
-2.0 | % | +2.2 | % | +4.4 | % | |||||||||||
Overseas |
+4.2 | % | +6.7 | % | +11.5 | % | |||||||||||
Americas |
+0.5 | % | +4.3 | % | +7.6 | % | |||||||||||
Europe |
+2.2 | % | +5.1 | % | +9.3 | % | |||||||||||
Other areas |
+15.4 | % | +14.7 | % | +23.6 | % | |||||||||||
Total |
+2.8 | % | +5.7 | % | +10.0 | % | |||||||||||
- S3 -
6. PROFITABILITY | Canon Inc. |
2008 | 2007 | ||||||||||||||||||||||||||
1st quarter | Year (P) | 1st quarter | Year | ||||||||||||||||||||||||
ROE |
14.8 | % | 16.4 | % | 17.8 | % | 16.5 | % | |||||||||||||||||||
ROA |
9.8 | % | 10.8 | % | 11.9 | % | 10.8 | % | |||||||||||||||||||
7. IMPACT OF FOREIGN EXCHANGE RATES (1) Exchange rates |
(Yen) |
2008 | 2007 | ||||||||||||||||||||||||||
1st quarter | 2nd-4th quarter (P) | Year (P) | 1st quarter | Year | |||||||||||||||||||||||
Yen/US$ |
104.78 | 100.00 | 101.05 | 119.33 | 117.50 | ||||||||||||||||||||||
Yen/Euro |
157.59 | 157.00 | 157.13 | 156.45 | 161.41 | ||||||||||||||||||||||
(2) Impact of foreign exchange rates on sales (Year over year) | (Billions of yen) |
2008 | |||||||||||||||||||||||||||
1st quarter | Year (P) | ||||||||||||||||||||||||||
US$ |
(57.3 | ) | (291.1 | ) | |||||||||||||||||||||||
Euro |
+1.2 | (31.4 | ) | ||||||||||||||||||||||||
Other currencies |
(0.3 | ) | (2.3 | ) | |||||||||||||||||||||||
Total |
(56.4 | ) | (324.8 | ) | |||||||||||||||||||||||
(3) Impact of foreign exchange rates per yen | (Billions of yen) |
2008 | |||||||||||||||||||||||||||
2nd-4th quarter (P) | |||||||||||||||||||||||||||
On sales
|
|||||||||||||||||||||||||||
US$
|
13.8 | ||||||||||||||||||||||||||
Euro |
6.0 | ||||||||||||||||||||||||||
On operating profit
|
|||||||||||||||||||||||||||
US$
|
7.9 | ||||||||||||||||||||||||||
Euro |
4.4 | ||||||||||||||||||||||||||
8. STATEMENTS OF CASH FLOWS | (Millions of yen) |
2008 | 2007 | ||||||||||||||||||||||||||
1st quarter | Year (P) | 1st quarter | Year | ||||||||||||||||||||||||
Net cash provided by operating activities
Net income |
106,644 | 500,000 | 131,250 | 488,332 | |||||||||||||||||||||||
Depreciation and amortization |
82,201 | 370,000 | 64,433 | 341,694 | |||||||||||||||||||||||
Other, net |
(81,356 | ) | (125,000 | ) | (42,873 | ) | 9,243 | ||||||||||||||||||||
Total |
107,489 | 745,000 | 152,810 | 839,269 | |||||||||||||||||||||||
Net cash used in investing activities |
(189,483 | ) | (490,000 | ) | (124,193 | ) | (432,485 | ) | |||||||||||||||||||
Free cash flow |
(81,994 | ) | 255,000 | 28,617 | 406,784 | ||||||||||||||||||||||
Net cash used in financing activities |
(84,877 | ) | (169,500 | ) | (269,594 | ) | (604,383 | ) | |||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents |
(69,923 | ) | (70,000 | ) | 323 | (13,564 | ) | ||||||||||||||||||||
Net change in cash and cash equivalents |
(236,794 | ) | 15,500 | (240,654 | ) | (211,163 | ) | ||||||||||||||||||||
Cash and cash equivalents at end of period |
707,669 | 960,000 | 914,972 | 944,463 | |||||||||||||||||||||||
- S4 -
9. R&D EXPENSES | (Millions of yen) | |||||||||||||||||||||
2008 | 2007 | |||||||||||||||||||||
1st quarter | Year (P) | 1st quarter | Year | |||||||||||||||||||
Business machines |
25,884 | | 24,136 | 122,570 | ||||||||||||||||||
Cameras |
11,904 | | 11,260 | 44,304 | ||||||||||||||||||
Optical and other products |
41,767 | | 37,534 | 201,387 | ||||||||||||||||||
Total |
79,555 | 387,000 | 72,930 | 368,261 | ||||||||||||||||||
% of sales |
7.9 | % | 8.5 | % | 7.0 | % | 8.2 | % | ||||||||||||||
(Millions of yen) | ||||||||||||||||||||||
2008 | 2007 | |||||||||||||||||||||
1st quarter | Year (P) | 1st quarter | Year | |||||||||||||||||||
Capital expenditure |
89,435 | 435,000 | 93,652 | 428,549 | ||||||||||||||||||
Depreciation and amortization |
82,201 | 370,000 | 64,433 | 341,694 | ||||||||||||||||||
(1) Inventories | (Millions of yen) | ||||||||||||||||
2008 | 2007 | Difference | |||||||||||||||
Mar.31 | Dec.31 | ||||||||||||||||
Business machines |
277,874 | 277,444 | +430 | ||||||||||||||
Cameras |
121,474 | 107,406 | +14,068 | ||||||||||||||
Optical and other products |
182,421 | 178,624 | +3,797 | ||||||||||||||
Total |
581,769 | 563,474 | +18,295 | ||||||||||||||
(2) Inventories/Sales* | (Days) | ||||||||||||||||
2008 | 2007 | Difference | |||||||||||||||
Mar.31 | Dec.31 | ||||||||||||||||
Business machines |
34 | 34 | 0 | ||||||||||||||
Cameras |
38 | 31 | +7 | ||||||||||||||
Optical and other products |
173 | 169 | +4 | ||||||||||||||
Total |
47 | 44 | +3 | ||||||||||||||
2008 | 2007 | Difference | |||||||||||||||
Mar.31 | Dec.31 | ||||||||||||||||
Total debt / Total assets |
0.6 | % | 0.6 | % | 0.0 | % | |||||||||||
2008 | 2007 | |||||||||||
1st quarter | Year | |||||||||||
Overseas production ratio |
41 | % | 40 | % | ||||||||
2008 | 2007 | Difference | |||||||||||||||
Mar.31 | Dec.31 | ||||||||||||||||
Japan |
55,641 | 55,227 | +414 | ||||||||||||||
Overseas |
76,543 | 76,125 | +418 | ||||||||||||||
Total |
132,184 | 131,352 | +832 | ||||||||||||||
- S5 -