First-Half & 2Q Financial Results Fiscal Year 2005 (Ending March … · 2016. 7. 19. · Fiscal...

FirstFirst--Half & 2Q Financial ResultsHalf & 2Q Financial ResultsFiscal Year 2005Fiscal Year 2005(Ending March 31, 2006)(Ending March 31, 2006)

October 26, 2005

1

DisclaimerDisclaimer

When reviewing this information, please note that the information was created as of the

date of the information, should be considered in the context of the circumstances

prevailing at that time and is only correct as of that date. The information contains

certain forward-looking statements that are subject to known and unknown risks and

uncertainties that could cause actual results to differ materially from those expressed or

implied by such statements. Such risks and uncertainties include, but are not limited to,

the competitive environment, market trends, general economic conditions, exchange rate

fluctuations and our ability to continue to timely introduce new products and services.

This report is a simple translation of the Japanese version of the explanatory presentation.

No reclassification nor rearrangement has been made.

Numerical valuesNumerical valuesAll numbers are rounded to the nearest unit.

All percentages are rounded off to one decimal place.

2

1. Overview1. Overview

2. Details

3

434.5 444.0 440.7

220.7258.0 257.9

43.843.0 42.917.916.0 16.2

-33.5 -37.7-35.0

-100

0

100

200

300

400

500

600

700

800

FY2004/1H FY2005/1H FY2005/1H

Half-Year Financial HighlightsNet sales (by business segment)

683.4683.4683.4 720.2720.2720.2726.0726.0726.0

+6.2+6.2––3.23.2

+37.2+37.2--00

--0.0.8--00

––1.71.7+0.2+0.2

InformationInformation--relatedrelatedequipmentequipment

Electronic devicesElectronic devices

Precision instrumentsPrecision instruments

OtherOther

EliminationsEliminations

+36.7+36.7––5.75.7

Consolidated totalConsolidated total

Actual 9/21 outlook ActualActual

(Billions of yen)(Billions of yen)

YearYear--onon--yearyearVs. 9/21 outlookVs. 9/21 outlook





4

30.9

14.5 15.0

37.1

-4.0 -3.0

2.7

1.0 1.0

-5.1-7.0 -7.3

-20

-10

0

10

20

30

40

50

60

70

80

FY2004/1H FY2005/1H FY2005/1H

65.865.865.8 6.06.06.04.54.54.5

Half-Year Financial HighlightsOperating income (by business segment)

YearYear--onon--yearyear --15.815.8Vs. 9/21 outlookVs. 9/21 outlook +0.5+0.5


YearYear--onon--yearyear --1.71.7Vs. 9/21 outlookVs. 9/21 outlook +0+0

YearYear--onon--yearyear --2.12.1Vs. 9/21 outlookVs. 9/21 outlook --0.30.3


Actual 9/21 outlook ActualActual



Precision instrumentsPrecision instruments

OtherOther

Consolidated totalConsolidated total(Billions of yen)(Billions of yen)

5

482.6555.0 555.0

85.0 85.034.5

33.0 33.0

-64.5 -65.0

946.0

81.1

-65.0

-200

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

FY2004 FY2005 FY2005

1,010.0 1,010.0

1,479.71,479.71,479.7

567.0 566.0 569.2

315.0 297.0 297.043.0 43.0 42.9

46.0 42.0 42.0

14.0 16.0 16.2

16.0 17.0 16.7

-33.0 -35.0 -37.7 -33.0 -30.0 -27.2

440.7444.0450.0

257.9258.0254.0

-100

0

100

200

300

400

500

600

700

800

900

1,000

1H 1H 1H 2H 2H 2H

728.0728.0728.01,618.01,618.01,618.0 892.0892.0892.01,618.01,618.01,618.0

9/21outlook

ActualActual

720.2720.2720.2 897.7897.7897.7

FullFull--Year Net SalesYear Net Sales HalfHalf--Year Net SalesYear Net Sales

InformationInformation--related equipmentrelated equipment


PrecisionPrecisionproductsproducts

OtherOther


726.0726.0726.0 911.0911.0911.0

7/277/27outlookoutlook


Actual 9/21outlook

CurrentCurrentoutlookoutlook


9/21outlook

FY2005 Business OutlookNet sales (by business segment)

(Billions(Billionsof yen)of yen)(Billions(Billionsof yen)of yen)

6

FullFull--Year Operating IncomeYear Operating Income

61.5 65.0 65.0

38.5

-10.0 -10.0

2.4

3.0 3.0

-13.0

-14.0 -14.0

1.4

0.0 0.0

-40

-20

0

20

40

60

80

100

120

FY2004 FY2005 FY2005

90.990.990.9 44.044.044.0

19.0 14.5 15.0

55.0 50.5 49.9

-4.0 -3.0

24.0

-6.0 -6.9

1.01.0 1.0

4.0

2.0 1.9

-7.0 -7.3 -7.0 -6.6-5.0 -8.0-8.0

-20

0

20

40

60

80

100

1H 1H 1H 2H 2H 2H

4.54.54.5 39.539.539.544.044.044.0 6.06.06.0 37.937.937.9

HalfHalf--Year Operating IncomeYear Operating Income

InformationInformation--related equipmentrelated equipment


PrecisionPrecisioninstrumentsinstruments

OtherOther


7.07.07.0 75.075.075.0

FY2005 Business OutlookOperating income (by business segment)

9/21outlook

ActualActual7/277/27outlookoutlook


Actual 9/21outlook



9/21outlook

(Billions(Billionsof yen)of yen) (Billions(Billions

of yen)of yen)

7

Operating Income (Actual and Outlook)

3.4%

8.8%

-13.7%

-1.2%-2.3%

6.0%

7.1%3.6%

6.7%9.3%

8.2%

0.5%

16.8%

13.5%

4.5%

-3.0%

-30

-20

-10

0

10

20

30

40

50

FY02/1HFY02/2HFY03/1HFY03/2HFY04/1HFY04/2HFY05/1HFY05/2H-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

Operating income: Information-related equipment

Operating income: Electronic devices

Operating margin: Information-related equipment

Operating margin: Electronic devices

Operating income(Billions of yen)

Operatingmargin

ActualActual CurrentCurrentoutlookoutlook

8

Achieving the Second-Half OutlookInformation-related equipment

Key secondKey second--half actionshalf actions

Expand sales of new inkjet printer products

Smooth start & on-time launches in US, Europe & Japan

Roll out powerful sales promotions tailored to specific regions

Expand sales of ink cartridges

Bolster the European inkjet printer business

Drive a pan-European strategy in combination with

country-specific strategies

Improve model mix by accelerating the shift toward

all-in-ones and expanding sales of direct-print photo models

Increase the ratio of genuine Epson ink cartridges

Roll out color laser all-in-ones globally

Achieve low-cost, maintenance-free products &

penetrate the low-end office copier market

Expand sales of toner cartridges

Drive down costs and expensesColor Laser MFP

AcuLaser CX11N/LP-A500

Photo Direct MFPStylus Photo RX520

9

Achieving the Second-Half OutlookElectronic devices

Display business

C-STN, MD-TFD: Further streamline highly efficient operations

a-TFT, LTPS: Reduce costs ahead of market price trends and

create high added-value products by accelerating the

development of differentiated technology

HTPS: Strengthen cost competitiveness and introduce new

technologies (inorganic alignment layer, etc.) early

Semiconductor business

Pursue low-cost operations and capture potential orders

Quartz device business

Roll out "No. 1" strategy with October start of operations at

Epson Toyocom

Leverage synergies to overwhelm rivals in timing devices

Photo FineChromarich LCD

Key secondKey second--half actionshalf actions

10

Steps Toward Recovery

Keys to achieving the secondKeys to achieving the second--half planhalf plan

Reduce costs in pace with market price trendsReduce costs in pace with market price trends

Achieve planned volumes, esp. in IJPAchieve planned volumes, esp. in IJPInformationInformation--relatedrelated

equipmentequipment


Key strategies for the second half of FY2005Key strategies for the second half of FY2005

Implement measures to solidly improve profitabilityImplement measures to solidly improve profitability Drive cost reduction initiatives from all angles in each businesDrive cost reduction initiatives from all angles in each businesss Reduce fixed costs & carefully select investmentsReduce fixed costs & carefully select investments

Recovery & growth strategy for FY2006 and beyondRecovery & growth strategy for FY2006 and beyond

Review and revise the mediumReview and revise the medium--range business plan (Action07)range business plan (Action07) Implement structural changes to enhance resistance to changesImplement structural changes to enhance resistance to changes

in operating environment and maintain continuous profitability.in operating environment and maintain continuous profitability. Adhere to Action07 targets but rework plans to rebuild theAdhere to Action07 targets but rework plans to rebuild the

business and restart growth.business and restart growth.⇒⇒ Present plans when 3Q results are announced (in late January)Present plans when 3Q results are announced (in late January)⇒⇒ Present the mediumPresent the medium--range business plan in mid Marchrange business plan in mid March

11

1. Overview

2. Details2. Details

12

First Half Financial HighlightsFirst Half Financial Highlights

+1.5+33.4%

+1.8+26.8%

-5.7-0.8%

+2.6+54.0%

+0.8+42.0%

FY2005

Net sales

Operatingincome

Ordinaryincome

Net income

683.4

65.8

63.7

39.4

%Actual

9.6%

9.3%

5.8%

-

Net incomebefore income taxes

59.5 8.7%

Change(amount & %)FY2004

Actual %(Billions of yen)(Billions of yen)

EPS 201.02yen

0.8%

1.2%

-0.2%

-

6.0

8.8

△1.1

720.2

1.1%7.6

△5.91yen

726.0

4.5

7.0

△2.0

0.6%

1.0%

-0.3%

-

5.0 0.7%

9/21outlook %

-yen

-59.8-90.9%

-54.8-86.1%

+36.7+5.4%

-51.8-87.1%

-40.6-102.9%

Vs. yearago

Vs. 9/21outlook

Exchangerate

USD

EUR

109.86yen

133.32yen

109.48yen

135.65yen

-yen

-yen

13

Financial Highlights (2Q)Financial Highlights (2Q)

2.9%

3.1%

1.5%

-22.0

-20.4

-15.9

-66.7%

-63.7%

350.5

33.1

32.0

21.8

109.96yen

134.37yen

- +29.5 +8.4%

11.0

11.6

111.28yen

135.72yen

380.1

FY2005

%2Q

9.5%

9.1%

6.2%

-

3.0% -18.730.1 11.48.6% -62.1%

-73.1%

Change

Amount %

FY2004

2Q %

5.8

Net sales

Operatingincome

Ordinaryincome

Net income

Net incomebefore income taxes


Exchangerate

USD

EUR

14

Quarterly Net SalesBy business segment

113.6

137.9

123.9

22.8

20.4

16.820.4

22.58.2

7.5

9.07.9

8.3

-16.3 -15.7 -15.2 -17.3 -20.3

212.0232.0279.4

222.0 228.7

117.1140.8

-50

0

50

100

150

200

250

300

350

400

450

2004/2Q 2004/3Q 2004/4Q 2005/1Q 2005/2Q

380.1380.1380.1429.6429.6429.6

InformationInformation--relatedrelatedEquipmentEquipment

Electronic DevicesElectronic Devices

PrecisionPrecisionInstrumentsInstruments

OtherOther

+0+0


--0.30.3

+27.2+27.2

++6.6

350.5350.5350.5 366.6366.6366.6 340.1340.1340.1

Versus theVersus theyearyear--ago periodago period


Versus theVersus theyearyear--agoagoperiodperiod


(Billions(Billionsof yen)of yen)

15

Quarterly Net Sales ComparisonInformation related equipment

191.8 194.9

21.0 25.613.0 9.6

-3.8 -1.5

-20

0

20

40

60

80

100

120

140

160

180

200

220

240

260

2004/2Q 2005/2Q

222.0222.0222.0 228.7228.7228.7

Imaging &Imaging &informationinformation

Visual instrumentVisual instrument

PC and otherPC and other


--3.33.3

+4.6+4.6

＋＋3.03.0

••PRJ: Up on sharp rise inPRJ: Up on sharp rise inbusiness PRJ volume,business PRJ volume,despite lower prices.despite lower prices.••PTV: Up on higherPTV: Up on higher

volume in both finishedvolume in both finishedproducts & OEM opticalproducts & OEM opticalengines.engines.

% sales% sales‘‘04/2Q04/2Q '05/2Q'05/2Q

IJPIJP 64%64% 62%62%LPLP 13%13% 15%15%BSBS 17%17% 18%18%SCN, otherSCN, other 6%6% 5%5%

% sales% sales‘‘04/2Q04/2Q '05/2Q'05/2Q

PRJPRJ 79%79% 71%71%PTVPTV 1%1% 13%13%OtherOther 20%20% 16%16%

••IJP: Down on lower allIJP: Down on lower all--inin--one ASPs & lower SFPone ASPs & lower SFPvolume, despite volumevolume, despite volumerise in MFPs & consumablesrise in MFPs & consumables••LP: Up on higher volume inLP: Up on higher volume in

printers & consumablesprinters & consumables••BS: Up on improved SIDMBS: Up on improved SIDM

model mix & higher volumemodel mix & higher volume


IJP:IJP: Inkjet printerInkjet printerSFP:SFP: SingleSingle--function printerfunction printerMFP:MFP: Multifunction printer (allMultifunction printer (all--inin--one)one)LP:LP: Laser printerLaser printerBS:BS: Business systemsBusiness systemsSIDM:SIDM: SerialSerial--impact dot matrix printerimpact dot matrix printerSCN:SCN: ScannerScannerPRJ:PRJ: ProjectorProjectorPTV:PTV: Projection TVProjection TVAU:AU: Amusement unitAmusement unit

VVersusersus thetheyearyear--ago periodago period



16

Quarterly Net Sales ComparisonElectronic devices

71.2

104.5

34.8

26.913.4

13.7

-5.9 -4.3

-20

0

20

40

60

80

100

120

140

160

2004/2Q 2005/2Q

113.6113.6113.6 140.8140.8140.8

DisplayDisplay

SemiconductorSemiconductor

Quartz DeviceQuartz Device

+0.3+0.3

--7.97.9

+33.2+33.2

%sales%sales‘‘04/2Q04/2Q '05/2Q'05/2Q

CC--STNSTN 31%31% 13%13%MDMD--TFDTFD 45%45% 29%29%aa--TFTTFT -- %% 33%33%LTPSLTPS -- %% 13%13%HTPSHTPS 24%24% 12%12%

%sales%sales‘‘04/2Q04/2Q '05/2Q'05/2Q

LCDLCD--Dr.Dr. 31%31% 32%32%SS--LSILSI 38%38% 31%31%OtherOther 31%31% 37%37%

••LCDLCD--Dr & SDr & S--LSI: Down onLSI: Down onlower volume and lower ASPslower volume and lower ASPs

••CC--STN: Down on lower ASPsSTN: Down on lower ASPs& lower volume& lower volume••MDMD--TFD: Down on lower ASPs,TFD: Down on lower ASPs,

despite higher volumedespite higher volume••aa--TFT & LTPS: Net gain fromTFT & LTPS: Net gain from

new operationsnew operations••HTPS: Recovering fromHTPS: Recovering from

inventory adjustment cycle,inventory adjustment cycle,but down on lower volume &but down on lower volume &ASPsASPs

••Up on improved model mixUp on improved model mixdue to higher volume in highdue to higher volume in highaddedadded--value productsvalue products






MM--STN:STN: Monochrome STNMonochrome STNCC--STN:STN: Color STNColor STNDD--TFD:TFD: Digital thinDigital thin--film diodefilm diodeHTPS:HTPS: HighHigh--temperature polysilicon TFTtemperature polysilicon TFTLCDLCD--Dr:Dr: LCD driverLCD driverSS--LSI:LSI: System LSISystem LSIMGE:MGE: Mobile Graphic EngineMobile Graphic EnginePRJ:PRJ: ProjectorProjectorPTV:PTV: Projection TVProjection TV

17

Quarterly Selling, General and Administrative Expenses

19.3 20.8 20.1 20.0 20.1

7.19.9 8.6 6.0 7.1

5.8

11.78.9

5.9 5.7

42.6

46.447.5

41.5 44.7

21.7%20.7%

23.3%

20.5%21.4%

0

20

40

60

80

100

2004/2Q 2004/3Q 2004/4Q 2005/1Q 2005/2Q

77.877.877.8

(%sales)(%sales)

75.075.075.0 89.089.089.0 85.485.485.4

Salaries andSalaries andwageswages

Sales promotionSales promotionexpensesexpenses

AdvertisingAdvertisingexpensesexpenses

OtherOther

+2.1+2.1

--0.10.1

+0+0

+0.7+0.7

73.673.673.6(Billions(Billionsof yen)of yen)

VVs. the years. the year--ago periodago period




18

Quarterly Operating IncomeBy business segment

16.0

20.4

10.0

4.2

18.0

13.5

-12.1

-5.6

1.60.3

-0.6

-0.1

-2.6-3.7 -4.1 -3.4 -3.8

10.8

2.61.1

-15

-10

-5

0

5

10

15

20

25

2004/2Q 2004/3Q 2004/4Q 2005/1Q 2005/2Q

33.133.133.1 30.930.930.9 -5.8--5.85.8 11.011.011.0


ElectronicElectronicdevicesdevices

PrecisionPrecisioninstrumentsinstruments

OtherOther

--1.11.1

--0.40.4

--15.415.4

--5.15.1

-5.0--5.05.0(Billions(Billionsof yen)of yen)





19

Operating Income Fluctuation Cause Analysis

0

2004/2Q

Operatingincome

(Billions of yen)

2005/2Q

OperatingincomeIncome decreased by 22 billion yen

33.133.1++1.21.2

--2.12.1

--38.938.9

++9.29.2

11.011.0++9.99.9

--1.31.3

Pricefluctuation

Change insales volumeImpact of

exchange ratefluctuations

S.G.A.increase

Costfluctuations

Other

20

Statistics of Balance Sheet Items

1,241.6 1,197.6 1,207.0 1,298.2 1,374.5

0

500

1,000

1,500

End of March2002

End of March2003

End of March2004

End of March2005

End ofSeptember 2005

173.0 167.4 155.8 176.6223.4

0

100

200

End of March2002

End of March2003

End of March2004

End of March2005

End of September2005

Total Assets

Inventories



21

Statistics of Balance Sheet Items

280.3 281.3414.3 472.8 479.4

22.6% 23.5%34.3% 36.4% 34.9%

0

200

400

600

End of March2002

End of March2003

End of March2004

End of March2005


603.3 610.9 457.5 395.2 449.0

48.6% 51.0%37.9%

30.4% 32.7%

0

400

800

End of March2002

End of March2003

End of March2004

End of March2005


Interest-bearing liabilities & ratio of interest-bearing liabilities

Shareholder’s equity & equity ratio



22

FY2005

FY2005 Business Outlook

Net Sales

OperatingIncome

OrdinaryIncome

Net Income

1,479.7

90.9

85.3

55.6

%Currentoutlook

6.1%

5.8%

3.8%

-

Net IncomeBefore income taxes 73.6 5.0%

FY2004

Actual %(Billions of yen)(Billions of yen)

EPS 283.60yen

2.7 %

2.8 %

1.4 %

-

-

- -

44.0

45.0

22.0

1,618.0

2.3 %38.0 -

-

112.04yen

1,618.0

44.0

45.0

22.0

2.7%

2.8%

1.4%

-

38.0 2.3%

9/21outlook %

112.04yen

-46.9-51.6%

-40.3-47.3%

+138.2+9.3%

-35.6-48.4%

-33.6-60.5%

Exch

ange

rate

USD

EUR

107.55yen

135.19yen

109.00yen

134.00yen

-yen

-yen

Change(amount & %)

Vs. yearago

Vs. 9/21outlook

23

Sales Outlook by Business Information related equipment segment

HalfHalf--Year Net SalesYear Net Sales

820.3

90.7108.0 108.039.0 39.0

870.0870.0

48.5

-7.0-13.6 -7.0-100

0

100

200

300

400

500

600

700

800

900

1,000

1,100

FY2004actual

FY20059/21

outlook

FY2005CurrentCurrentoutlookoutlook

946.0946.0946.0 1,010.01,010.01,010.0 1,010.01,010.01,010.0

FullFull--Year Net SalesYear Net Sales(Billions(Billionsof yen)of yen)

378.5

491.4

18.5

20.4

46.6

61.3

-4.0-2.9-50

0

50

100

150

200

250

300

350

400

450

500

550

600

FY2005 FY2005

440.7440.7440.7 569.2569.2569.2((BillionsBillionsof yenof yen))

1Hactual

2H2Houtlookoutlook

Imaging &Imaging &InformationInformation

+49.6+49.600

Visual instrumentsVisual instruments

+17.2+17.200

PC, otherPC, other

--9.59.500





241H

actual2H2H

outlookoutlook

0

100

200

300

400

500

600

700

800

900

FY2004 FY2005 FY2005

820.3820.3820.3

0

50

100

150

200

250

300

350

400

450

500

FY2005 FY2005

378.5378.5378.5870.0870.0870.0 491.4491.4491.4

Net Sales Outlook by BusinessImage & information business

Inkjet printersInkjet printers

Laser printersLaser printers

Business systemsBusiness systems

65%

15%

15%

65%

14%

16%

5%5%

63%

67%

15%

15%

17%

14%

5%

4%

65%

15%

15%

5%

870.0870.0870.0

Actual 9/21 outlook CurrentCurrentoutlookoutlook

Scanner, otherScanner, other((BillionsBillionsof yenof yen))

((BillionsBillionsof yenof yen))


PM-A950

LP-M5500multifunction color

laser printer

TM-L90label printer

252H2H

outlookoutlook

0

20

40

60

80

100

120

FY2004 FY2005 FY2005

90.790.790.7

0

10

20

30

40

50

60

70

FY2005 FY2005

46.646.646.6108.0108.0108.0 61.361.361.3

Net Sales Outlook by BusinessVisual Instrument business

ProjectorsProjectors

Projection TVsProjection TVs

OtherOther

70%

12%

18%

72%

3%

25%

72%

68%

12%

11%16%

20%

70%

12%

18%

108.0108.0108.0

Actual CurrentCurrentoutlookoutlook

1Hactual

9/21 outlook




LIVINGSTATIONELS-57S2

EMP-755 mobile projector

EMP-TWD1 home projectorwith built-in

DVD player and speaker system

26

Net Sales Outlook by BusinessElectronic device segment

189.1 203.8

25.6

42.3

-8.0 -6.9

51.257.7

-50

0

50

100

150

200

250

300

350

FY2005 FY2005

257.9257.9257.9 297.0297.0297.0

316.8

139.4

109.0 109.0

68.0 68.0

-23.4 -15.0

393.0393.0

49.8

-15.0

-50

0

50

100

150

200

250

300

350

400

450

500

550

600

FY2004 FY2005 FY2005

482.6482.6482.6 555.0555.0555.0 555.0555.0555.0

DisplaysDisplays

+76.1+76.100

SemiconductorsSemiconductors

--30.430.400

Quartz devicesQuartz devices

+18.1+18.100



2H2Houtlookoutlook


Actual 1Hactual

9/21outlook




((BillionsBillionsof yenof yen)) ((BillionsBillions

of yenof yen))

27

0

20

40

60

80

100

120

140

160

180

200

220

FY2005 FY2005

Net Sales Outlook by BusinessDisplay business

0

50

100

150

200

250

300

350

400

FY2004 FY2005 FY2005

316.8316.8316.8

13%

27%

13%

189.1189.1189.1 203.8203.8203.8

19%

37%

25%

14% 35%5%

12%

12% 13%

29% 26%

14% 12%

32% 37%

12%13%

HTPSHTPS--TFTTFT

MDMD--TFDTFD

CC--STNSTN

αα--TFTTFT

393.0393.0393.0

2H2Houtlookoutlook


393.0393.0393.0

13%

27%

13%

35%

12%

Actual

LTPSLTPS--TFTTFT

1Hactual

9/21outlook

FullFull--Year Net SalesYear Net Sales HalfHalf--Year Net SalesYear Net Sales((BillionsBillionsof yenof yen)) ((BillionsBillions

of yenof yen))

28

Outlook for Capital Expenditure andDepreciation & Amortization Expenses

129.1 125.8 110.3 104.2 113.5

0

100

200

FY2001 FY2002 FY2003 FY2004 FY2005

162.874.4 68.7

151.2 136.9

0

100

200

FY2001 FY2002 FY2003 FY2004 FY2005

Capital Expenditures

Depreciation and amortization expensesCurrent outlookCurrent outlook

Current outlookCurrent outlook



29

151.2 159.5182.6

162.4

121.4

-278.3

-107.9

-65.3

-99.3-117.4-127.0

51.5 117.3

4.0

63.0

-300

-200

-100

0

100

200

FY2001 FY2002 FY2003 FY2004 FY2005

Cash flow frominvestment activitiesCash flow fromoperations activitiesFree cash flow

Free Cash Flows Outlook



30

3.2

5.2 5.8

-6.5

4.5

10.9

12.6

6.86.1

3.41.5 3.3

1.52.8

4.6

-10.0

-5.0

0.0

5.0

10.0

15.0

FY2001 FY2002 FY2003 FY2004 FY2005

ROA: Ordinary income/Total assets (avg.balance)ROS: Ordinary income/net sales

ROE: Net income/Shareholder's equity(avg. balance)

Main Management Metrics

(%)(%)


First-Half & 2Q Financial Results Fiscal Year 2005 (Ending March … · 2016. 7. 19. · Fiscal...

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