|
SANYO Electric Co., Ltd. Consolidated
Financial Results
for Fiscal Year 2005 |
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Note: This is a Summary of the Japanese original
Tokyo, May 18, 2006 --- SANYO Electric Co., Ltd. announced its consolidated
results for the Fiscal Year 2005 ended March 31, 2006. |
| 1. Consolidated Results (Unaudited) |
(Unit: Millions of Yen) |
| |
Fiscal Year 2005
From April 1, 2005
To March 31, 2006 |
Fiscal Year 2004
From April 1, 2004
To March 31, 2005 |
Change |
| Net Sales |
2,397,026 |
2,484,639 |
-3.5% |
| Operating income (loss) |
(17,154)
( -0.7%) |
35,236
( 1.4%) |
- |
Income (loss) before
income taxes and minority
interest for continuing
operations |
(165,696)
( -6.9%) |
(68,767)
( -2.8%) |
- |
| Net income (loss) |
(205,661)
( -8.6%) |
(171,544)
( -6.9%) |
- |
| Net income (loss)per share |
(194.96 yen) |
(92.48 yen) |
|
| 1. |
SANYO’s consolidated financial statements are prepared
based on U.S. accounting standards |
| 2. |
Operating income (loss) and business segments are prepared
based on Japanese accounting standards |
| 3. |
The number of consolidated companies 236. The number of unconsolidated
subsidiaries and affiliates accounted for by the equity method
73 |
| 4. |
Based on U.S. accounting standards, regarding discontinued
operations in FY 2005, reclassified some of FY 2004 consolidated
financial information |
| 5. |
( %) ratio compared to net sales |
|
| 2. Non-Consolidated Financial Results (Unaudited) |
(Unit: Millions of Yen) |
| |
Fiscal Year 2005
From April 1, 2005
To March 31, 2006 |
Fiscal Year 2004
From April 1, 2004
To March 31, 2005 |
Change |
| Net Sales |
1,353,445 |
1,458,981 |
-7.2% |
| Operating income (loss) |
(40,072)
( -3.0%) |
(4,107)
(-0.3 %) |
- |
Ordinary income
(loss) |
(48,275)
( -3.6%) |
482
(0.0 %) |
- |
| Net income (loss) |
(360,991)
( -26.7%) |
(87,800)
( -6.0 %) |
- |
Net income (loss)
per share |
(174.73 yen) |
(47.33 yen) |
|
| 1. |
( %) ratio compared to net sales |
|
| 3. Consolidated Sales by Business Group Category (Unaudited) |
(Unit: Millions of Yen) |
Product category |
Fiscal Year 2005
From April 1, 2005
To March 31, 2006 |
Fiscal Year 2004
From April 1, 2004
To March 31, 2005 |
Change |
Amount |
Ratio to
total |
Amount |
Ratio to
total |
Amount |
Ratio |
| Consumer |
1,146,765 |
47.8% |
1,228,169 |
49.4% |
-81,404 |
-6.6% |
| Commercial |
234,962 |
9.8% |
212,842 |
8.6% |
22,120 |
10.4% |
| Component |
911,750 |
38.0% |
946,433 |
38.1% |
-34,683 |
-3.7% |
| Others |
103,549 |
4.4% |
97,195 |
3.9% |
6,354 |
6.5% |
| Total |
2,397,026 |
100.0% |
2,484,639 |
100.0% |
-87,613 |
-3.5% |
| Breakdown |
Domestic
sales |
1,162,390 |
48.5% |
1,259,494 |
50.7% |
-97,104 |
-7.7% |
Overseas
sales |
1,234,636 |
51.5% |
1,225,145 |
49.3% |
9,491 |
0.8% |
|
| 4. Consolidated Statements of Income (Unaudited) |
(Unit: Millions of Yen) |
Items |
Fiscal Year 2005
From April 1, 2005
To March 31, 2006 |
Fiscal Year 2004
From April 1, 2004
To March 31, 2005 |
Change |
Amount |
Ratio to
net sales |
Amount |
Ratio to
net sales |
Amount |
Ratio |
Net sales
Operating revenue
Sales and operating
revenue
Cost of sales
Selling, general and
administrative expenses
Operating income (loss)
Other income
[Interest and Dividends]
[Other]
Other expenses
[Interest]
[Other]
Income (Loss) before
income taxes for
continuing operations
Income taxes |
2,397,026
87,279
2,484,305
2,102,734
398,725
|
100.0%
3.6%
103.6%
87.7%
16.6% |
2,484,639
76,746
2,561,385
2,125,637
400,512 |
100.0%
3.1%
103.1%
85.6%
16.1% |
-87,613
10,533
-77,080
-22,903
-1,787 |
-3.5%
13.7%
-3.0%
-1.1%
-0.4% |
(17,154)
66,840
[7,170]
[59,670]
215,382
[18,412]
[196,970]
|
-0.7%
2.8%
9.0%
|
35,236
31,119
[5,066]
[26,053]
135,122
[13,127]
[121,995]
|
1.4%
1.2%
5.4%
|
-52,390
35,721
[2,104]
[33,617]
80,260
[5,285]
[74,975]
|
-
114.8%
59.4%
|
(165,696)
38,309
|
-6.9%
1.6%
|
(68,767)
104,695
|
-2.8%
4.2%
|
-96,929
-66,386
|
-
-63.4%
|
Income (Loss) before
minority interests for
continuing operations
Minority interests |
(204,005)
(3,675) |
-8.5%
-0.1% |
(173,462)
(556) |
-7.0%
-0.0% |
-30,543
-3,119 |
-
- |
Net income (loss) for
continuing operations
Discontinued operations
Income (loss) from
discontinued operations
Income taxes |
(200,330)
(1,882)
3,449 |
-8.4%
-0.1%
0.1% |
(172,906)
3,372
2,010 |
-7.0%
0.2%
0.1% |
(27,424)
(5,254)
1,439 |
-
-
71.6% |
Net income (loss) for
discontinued operations |
(5,331) |
-0.2% |
1,362 |
0.1% |
(6,693) |
- |
| Net income (loss) |
(205,661) |
-8.6% |
(171,544) |
-6.9% |
-34,117 |
- |
|
| 5. Consolidated Balance Sheet (Unaudited) |
(Unit: Millions of Yen) |
| Items |
As of
March 31, 2006 |
As of
March 31, 2005 |
Increase
(Decrease) |
Current Assets
Cash
Time Deposits
Money Trust
Valuable Securities
Receivables:
Notes and accounts receivables
Finance
receivables
Affiliates and unconsolidated subsidiaries
Allowance for doubtful accounts
Inventories
Deferred income taxes
Other
Investment and advances:
Affiliates and unconsolidated
subsidiaries
Other
Property, plant & equipment:
Buildings
Machinery and equipment
Accumulated depreciation
Land
Construction in progress
Deferred income taxes
Other assets |
196,784
100,716
264,800
1,109
461,613
-
19,182
(10,509)
317,894
8,287
60,441
1,420,317
48,000
112,988
160,988
409,581
919,154
(941,303)
101,664
11,590
500,686
10,935
61,911
|
124,053
170,929
-
9,542
448,281
261,639
29,406
(30,046)
383,976
17,911
77,675
1,493,366
56,066
194,925
250,991
457,225
944,543
(941,762)
130,906
20,319
611,231
32,512
212,577
|
72,731
(70,213)
264,800
(8,433)
13,332
(261,639)
(10,224)
19,537
(66,082)
(9,624)
(17,234)
(73,049)
(8,066)
(81,937)
(90,003)
(47,644)
(25,389)
459
(29,242)
(8,729)
(110,545)
(21,577)
(150,666)
|
Total Assets |
2,154,837 |
2,600,677 |
(445,840) |
Current liabilities
Short-term borrowings
Current portion of long term debt
Notes and accounts payable:
Trade
Affiliates and unconsolidated subsidiaries
Construction
Accrued income tax
Employees’ savings deposits
Other
Total current liabilities |
Long-term debt
Accrued pension and severance costs
Minority interests in
Consolidated subsidiaries
Common stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Treasury stock
Total stockholders’ equity |
|
264,441
74,297
402,638
20,392
13,334
11,638
13,647
245,856
1,046,243
500,434
186,969
1,733,646
18,299
261,328
721,828
(466,951)
(105,885)
410,320
(7,428)
402,892
|
408,531
139,101
453,554
50,235
33,108
11,301
21,888
248,810
1,366,528
679,728
216,190
2,262,446
49,963
172,242
336,035
(84,342)
(128,310)
295,625
(7,357)
288,268
|
(144,090)
(64,804)
(50,916)
(29,843)
(19,774)
337
(8,241)
(2,954)
(320,285)
(179,294)
(29,221)
(528,800)
(31,664)
89,086
385,793
(382,609)
22,425
114,695
(71)
114,624
|
Total liabilities,
minority interests and stockholders’ equity |
2,154,837 |
2,600,677 |
(445,840) |
|
| 6. Consolidated Statement of Cash Flows (Unaudited) |
(Unit: Millions of Yen) |
| Items |
Fiscal Year 2005
From April 1, 2005
To March 31, 2006
|
Fiscal Year 2004
From April 1, 2004
To March 31, 2005 |
| 1. Cash flows from operating activities |
| |
Net income (loss)
Depreciation and amortization
Impairment loss for fixed assets
(Increase) decrease in receivables
(Increase) decrease in inventories
Increase (decrease) in notes & accounts payable
Other, net |
|
(205,661)
129,712
107,702
21,281
78,552
(105,520)
(26,730)
|
(171,544)
123,540
-
100,359
(24,872)
(67,385)
43,597
|
| Net cash provided (used) in operating activities |
(664) |
3,695 |
| 2. Cash flows from investing activities |
| |
Decrease (Increase) in short term
& long term
investments
Purchase of tangible fixed assets
Proceeds from fixed assets
Proceeds on business transfer
Other, net |
|
96,924
(86,564)
46,760
-
(23,119)
|
(13,210)
(96,633)
39,711
19,153
(31,255)
|
| Net cash provided (used) in investing activities |
36,001 |
(82,234) |
| 3. Cash flows from financing activities |
| |
Decrease in short term borrowing
Increase (Decrease) in long term debt
Cash provided by newly issued shares
Expenditures for money trust
Income from money trust
Dividends paid
Other, net |
|
(20,432)
(84,115)
299,238
(300,000)
35,200
(1,606)
1,735
|
(20,737)
104,096
-
-
-
(12,632)
(147)
|
| Net cash provided (used) in financing activities |
(69,980) |
70,580 |
| 4. Effect of exchange rate changes on cash & cash equivalents |
8,182 |
1,145 |
| 5. Net decrease in cash & cash equivalents |
(26,461) |
(6,814) |
6. Cash & cash equivalents of newly
consolidated subsidiaries
7. Cash & cash equivalents at beginning
8. Cash & cash equivalents at end |
28,979
294,982
297,500 |
24,334
277,462
294,982 |
|
| 7. Consolidated Segment Information (Unaudited) |
(Unit: Millions of Yen) |
Items |
Fiscal Year 2005
From April 1, 2005
To March 31, 2006 |
Fiscal Year 2004
From April 1, 2004
To March 31, 2005 |
Change |
Amount |
Component
proportion
ratio |
Amount |
Component
proportion
ratio |
Amount |
Ratio |
Net sales
&
operating
revenue |
Consumer |
1,154,395 |
45.5% |
1,248,312 |
47.4% |
-93,917 |
-7.5% |
| Commercial |
236,272 |
9.3% |
216,121 |
8.2% |
20,151 |
9.3% |
| Component |
948,448 |
37.4% |
984,387 |
37.4% |
-35,939 |
-3.7% |
| Others |
198,937 |
7.8% |
183,651 |
7.0% |
15,286 |
8.3% |
| Sub-total |
2,538,052 |
100.0% |
2,632,471 |
100.0% |
-94,419 |
-3.6% |
Corporate &
eliminations |
(53,747) |
- |
(71,086) |
- |
17,339 |
- |
Total |
2,484,305 |
- |
2,561,385 |
- |
-77,080 |
-3.0% |
Operating
income |
Consumer |
(9,889) |
-62.3% |
28,875 |
49.2% |
-38,764 |
- |
| Commercial |
7,471 |
47.1% |
6,176 |
10.5% |
1,295 |
21.0% |
| Component |
11,632 |
73.3% |
18,196 |
31.0% |
-6,564 |
-36.1% |
| Others |
6,655 |
41.9% |
5,442 |
9.3% |
1,213 |
22.3% |
| Sub-total |
15,869 |
100.0% |
58,689 |
100.0% |
-42,820 |
-73.0% |
Corporate &
eliminations |
(33,023) |
- |
(23,453) |
- |
-9,570 |
- |
Total |
(17,154) |
- |
35,236 |
- |
-52,390 |
- |
|
(Notes)
| 1. Main Contents of Business Segment |
| Consumer: |
TVs, VCRs, DVD Players, LCD Projectors, Digital Cameras and
Telephones, Refrigerators, Air Conditioners, Washing Machines
and Microwave Ovens. |
| Commercial: |
Showcases, Package-Type Air Conditioners and Absorption-Type
Chiller / Heaters. |
| Component: |
Semiconductors, LCDs and Electronic Components, Primary batteries,
Rechargeable batteries and Solar batteries. |
| Others: |
Leasing, Credit, Distribution, Maintenance and Housing. |
| 2. |
Basic R&D expenses and corporate office expenses are
included in the item of "Corporate and eliminations"
as unallocated expenses. |
| 3. |
Reclassified some of FY 2004 consolidated financial information
due to discontinued operations in FY 2005. |
|
| 8. Forecast of consolidated results for fiscal 2006 (April
1, 2006 to March 31, 2007) |
| Consolidated Forecast |
FY 2006 |
FY 2005 |
| Net Sales: |
2,400 billion yen |
100.1% compared to FY2005 |
| Operating Profit: |
65 billion yen |
-17.2 billion yen |
Income before income taxes
and minority interests: |
40 billion yen |
-165.7 billion yen |
| Net Income: |
20 billion yen |
-205.7 billion yen |
Non-Consolidated Forecast |
FY 2006
|
FY 2005
|
| Net Sales: |
1,410 billion yen |
104.2% compared to FY 2005 |
| Operating Profit: |
12 billion yen |
-40 billion yen |
| Ordinary Profit: |
5 billion yen |
-48.2 billion yen |
| Net income (loss): |
(10 billion yen) |
-360.9 billion yen |
| |
|
|
| *The forecasts above are based on assumptions deemed reasonably
at the time they were prepared, actual results may differ significantly
from forecasts. Actual results may be influenced but not limited
to the following, changes in political and economic regions,
increased material costs and fluctuations in the foreign exchange
markets. |
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