サトー様

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あけなおあさぶき
5 years ago
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1 Shareholder information FINANCIAL REPORT

2 2 1 CONTENTS To Our Shareholders

3 4 3 Review of This Fiscal Term

4 6 5 Corporate Social Responsibility

5 7 8 Review of This Fiscal Term

7 11 12

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10 Balance Sheet (Consolidated) Statements of Income (Consolidated) (Assets) Current assets Fixed assets Tangible fixed assets Intangible fixed assets Investments and other assets Total assets (Liabilities) Current liabilities Fixed liabilities Total liabilities (Minority interest) Minority interest in consolidated subsidiaries (Shareholders equity) Common stock Capital reserve Retained earnings Other investment valuation expenses Foreign exchange adjustment account Treasury stock Total shareholders equity Total liabilities, minority interest and shareholders equity P O I N T P O I N T Ordinary income and expenses Operating revenues and expenses Net sales Gross profit on sales Operating income Non operating income and expenses Non operating income Non operating expenses Ordinary profit Extraordinary gain and loss Extraordinary gain Extraordinary loss Income before adjustments for income taxes Corporate, inhabitant and enterprise taxes Deferred taxes Minority interest in net income Net income P O I N T P O I N T Accumulated depreciation Consolidated Non Consolidated Consolidated Non Consolidated Consolidated Non Consolidated Consolidated Non Consolidated Net sales Operating income/operating income margin Ordinary profit/ordinary profit margin Net income/net income margin Total assets/return on assets Shareholders equity/return on equity 17 18

11 Statements of Retained Earnings (Consolidated) Balance Sheet (Non Consolidated) Capital reserve at beginning of year Increase in capital reserve Increase in conversion of convertible bonds Sales of treasury stock gain Capital reserve at end of year Retained earnings at beginning of year Increase in retained earnings Decrease in retained earnings Dividends Director's bonuses Retained earnings at end of year Assets Current assets Fixed assets Tangible fixed assets Intangible fixed assets Investments and other assets Total assets Liabilities Current liabilities Fixed liabilities Total liabilities Shareholders equity Common stock Capital reserve Retained earnings Other investment valuation expenses Treasury stock Total shareholders equity Total liabilities and shareholders equity P O I N T P O I N T Statements of Cash Flow (Consolidated) Net cash provided by operating activities Net cash used in investing activities Net cash used in financing activities Effect of exchange rate changes on cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of interim period P O I N T P O I N T Statements of Income (Non Consolidated) Ordinary income and expenses Operating revenues and expenses Net sales Gross profit on sales Operating income Non operating income and expenses Non operating income Non operating expenses Ordinary profit Extraordinary gain and loss Extraordinary gain Extraordinary loss Net income before taxes Net income Unappropriated retained earnings Statements of Retained Earnings Unappropriated retained earnings Dividends-total Special reserves Ratained earnings carried forward to next period 19 20

13 24 23 International Network

14 26 25 Domestic Network

15 Stock Information Corporate Data Principal shareholders Changes in price of common stock Shareholders by type Number of shares held 27 28

16 Summary of Fiscal Operations Years ended March 31, 2004 For the term: Net sales... Operating income... Ordinary profit... Income before adjustment for income taxes... Corporate, inhabitant and enterprise taxes... Deferred taxes... Minority interest in net income... Net income... Per share data (yen): Net income... Interim dividends... At term s end: Shareholders equity... Total assets... Number of employees... Results of operation unit: Millions of yen Consolidated Non-Consolidated 58,862 5,506 5,200 5,511 2, , ,785 49,676 2,349 51,230 5,898 5,849 6,377 2, , ,136 52,147 Demand for printers and supply products in Japan was extremely buoyant in the first quarter of the year ended March 31, 2004 after the Container and Packaging Recycling Law came into force on April 1, The Company's results received a particular boost in the early part of the year as a result. Demand also rose as concerns over traceability mounted within the meat, food processing and fresh produce sectors of the Japanese food industry in the wake of concerns over the U.S. outbreak of BSE (bovine spongiform encephalopathy) and the avian influenza in Asia. The Company's sales also benefited from strong demand in other sectors, including hospitals (error prevention), volume retailers, department stores, the Japan Automobile Manufacturers Association (Electronic Data Interchange (EDI) projects), and various other parts of the manufacturing and distribution sectors (warehouse inventory management). Demand also rose sharply on a year-on-year basis in the second half of the year as retailers prepared for the implementation of new rules on April 1, 2004 mandating the labeling of all products to show the total value of consumption tax per item. This change generated a substantial jump in the Company's sales due to fresh demand for printers, hand labelers and supply products. The Company responded to rapidly changing market conditions with the introduction of new types of printer for the food industry boasting superb operability as well as the launch of printers specially designed to be compatible with IC tags and labels. The Company also further expanded its lineup of products tailored to specific operational site requirements. In overseas markets, the Company continued to develop and promote its "DCS & Labeling" concept. The Company actively expanded workforces at local overseas sales subsidiaries and implemented a range of other measures to support ongoing growth. In the U.S., the Company increased the size of market-specific sales teams and undertook regional road shows across the country to provide technical training and to support the product promotion efforts of local business partners. In Europe, the Company sales 1,338 teams from Japan provided direct operational support to promotional efforts in European markets. The Company also organized a symposium on RFID technology to promote its products based on IC tags and labels. In Asia, local production of labels, tags and supply products commenced at a subsidiary in Thailand. The Company also organized a number of exhibitions designed to showcase the application of its products and technology in areas such as medical care and RFID. During the year, the Company successfully negotiated various large contracts in countries around the world. These major deals resulted in new customers as varied as a U.S. drugstore chain, a leading British supermarket chain (price-discount management system), the German postal service Deutsche Post, and a Chinese tobacco company (automatic label-affixing equipment). Consolidated net sales in the year ended March 31, 2004 amounted to 58,862 million (up 10.1% year-on-year). Operating income, ordinary profit and net income totaled 5,506 million (+14.1%), 5,200 million (+12.0%) and 2,790 million (+38.1%), respectively. Segment results were as follows: (a) Mechatronics products The segment posted operating income of 3,010 million (+17.7%) on net sales of 26,670 million (+10.5%). (b) Supply products The segment posted operating income of 2,495 million (+9.9%) on net sales of 32,192 million (+9.7%). Forecast for the year to March 2005 (Fiscal 2004) In Japan, the Company plans to continue to focus on expanding sales in areas where demand is growing such as the food, medical and distribution sectors. Efforts will also continue to develop new market segments and to launch new products. While striving to raise further the value added by its employees, who count as one of the Company's major strengths, the Company plans to continue working to develop products that fulfill the diverse needs of a society being gradually transformed by ubiquitous computing. Besides ongoing programs to broaden the lineup and to differentiate products from those of competitors by means of improved designs, these efforts will also include a renewed focus on reaching smaller customers and attaining higher levels of customer service. The Company remains committed to realizing its strategy for the medium and long term and striving to achieve related performance objectives. In overseas markets, efforts will continue to rebuild sales infrastructure, establish new operating bases and expand local sales. Based on the "DCS & Labeling" concept, the Company plans to promote further development around the world by tailoring sales strategies to local conditions. The Company Group forecasts consolidated results in fiscal 2004 (the year ending March 2005) as follows: net sales: 62,100 million (+5.5%); operating income: 6,060 million (+10.0%); ordinary profit: 6,060 million (+16.5%); net income: 3,500 million (+25.4%). (Reference data) Consolidated Forecasts for Fiscal 2004 (April 1, 2004-March 31, 2005) Net sales Operating income Ordinary profit Net income Interim Millions of yen Change (%) 30, , , , Segment sales forecasts are given below. [Product Segment Forecasts] (a) Mechatronics products: full-term net sales of 27,400 million (+2.7%). (b) Supply products: full-term net sales of 34,700 million (+7.8%). Full-Term Millions of yen Change (%) 62, , , ,

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$Ł\”ƒ.eps$ P1 P4 P2 P7 P8 Consolidated balance sheet Consolidated statement of income Consolidated statement of shareholders' equity Consolidated statement of cash flows 1 $5,644,73 262,387 146,72.27 8.2 11,436,433