Financial Information: Annual Report 2002

For the years ended March 31	2002	2001	2000	1999	1998
Net sales	¥480,902	¥533,144	¥486,539	¥472,614	¥493,151
Cost of sales and SGA expenses	476,954	507,303	471,837	459,622	470,380
Operating income	3,947	25,841	14,701	12,992	22,771
Other income (expenses)	(14,271)	(2,528)	(6,101)	(21,312)	(35,166)
Income (loss) before income taxes*	(10,324)	23,312	8,599	(8,319)	(12,395)
Income taxes	7,181	11,132	4,932	(3,696)	2,872
Net income (loss)	(17,696)	11,425	2,798	(4,094)	(15,173)
Current assets	291,490	321,575	392,459	389,091	417,188
Non-current assets	351,332	358,881	247,631	257,212	257,361
Other assets	-	-	-	-	-
Total assets	642,823	680,457	640,090	646,303	674,549
Current liabilities	239,378	261,952	282,719	243,544	289,045
Long-term liabilities	182,455	179,749	160,951	199,395	169,766
Minority liabilities	12,810	11,372	9,112	4,891	5,713
Shareholders' equity	208,179	227,383	187,307	198,471	210,023
Total liabilities and shareholders' equity	642,823	680,457	640,090	646,303	674,549
Number of employees	22,337	23,283	24,295	22,482	22,322
*Income (loss) before income taxes and minority interests
(%)
Gross profit margin	18.1	19.7	19.1	19.3	20.7
Operating income margin	0.8	4.8	3.0	2.7	4.6
SGA expenses / net sales	17.3	14.8	16.1	16.6	16.1
Net income margin	(3.7)	2.1	0.6	(0.9)	(3.1)
Return on average assets (ROA)	(2.7)	1.7	0.4	(0.6)	(2.2)
Return on average shareholders' equity (ROE)	(8.1)	5.5	1.5	(2.0)	(7.0)
Ratio of net worth to total capital	32.4	33.4	29.3	30.7	31.1
Current ratio	121.8	122.8	138.8	159.8	144.3
Ratio of fixed assets to long-term capital	89.9	88.1	71.1	64.6	67.8
D/E ratio	130.8	108.1	139.5	141.2	141.8
(Times)
Asset turnover	0.73	0.81	0.76	0.72	0.72
Inventory turnover	4.8	5.2	4.6	4.3	4.7
(Millions of yen)
R&D expenditure	8,036	9,268	8,777	13,800	12,700
Depreciation and Amortization	27,536	26,210	26,349	26,155	26,073
Cash flow (A)	6,699	34,349	26,181	18,863	25,021
Capital expenditure (B)	36,183	33,872	26,701	24,157	33,373
Free cash flow (A) - (B)	(29,484)	477	(520)	(5,294)	(8,352)
(Yen)
Net income (loss) per share	(31.79)	20.35	4.98	(7.27)	(26.92)
Cash flow per share	12.04	61.19	46.63	33.49	44.37
Shareholders' equity per share	378.03	405.12	333.57	353.29	387.18
(Times)
Interest coverage	0.78	3.01	1.71	1.47	2.15

For the years ended March 31	1997	1996	1995	1994	1993
Net sales	¥481,339	¥440,001	¥415,713	¥380,067	¥415,215
Cost of sales and SGA expenses	454,094	418,081	407,029	387,426	412,207
Operating income	27,243	21,919	12,524	(7,359)	3,008
Other income (expenses)	(8,187)	(5,479)	(4,552)	2,907	(4,083)
Income (loss) before income taxes*	19,056	16,441	7,973	(4,452)	(1,075)
Income taxes	10,241	9,348	4,452	1,547	1,659
Net income (loss)	8,810	6,870	4,282	(1,410)	705
Current assets	426,692	421,822	390,530	366,558	398,346
Non-current assets	247,306	232,347	249,119	223,305	225,544
Other assets	17,630	19,099	20,568	22,038	23,507
Total assets	691,629	673,270	660,219	611,902	647,398
Current liabilities	288,375	229,954	214,876	172,027	241,072
Long-term liabilities	173,592	224,994	223,006	218,775	178,222
Minority liabilities	4,271	4,028	3,837	542	527
Shareholders' equity	225,389	214,293	218,499	220,557	227,577
Total liabilities and shareholders' equity	691,629	673,270	660,219	611,902	647,398
Number of employees	18,286	17,568	17,905	17,866	-
*Income (loss) before income taxes and minority interests
($)
Gross profit margin	21.0	20.2	17.1	12.9	15.3
Operating income margin	5.7	5.0	3.0	(1.9)	0.7
SGA expenses / net sales	15.4	15.2	15.0	14.8	14.5
Net income margin	1.8	1.6	1.0	(0.4)	0.2
Return on average assets (ROA)	1.3	1.0	0.7	(0.2)	0.2
Return on average shareholders' equity (ROE)	4.0	3.2	2.0	(0.6)	0.6
Ratio of net worth to total capital	32.6	31.8	33.1	36.0	35.2
Curreent ratio	148.0	183.4	181.7	213.1	165.2
Ratio of fixed assets to long-term capital	62.0	52.9	56.4	50.8	55.6
D/E ratio	132.4	138.2	135.3	121.5	123.3
(Times)
Asset turnover	0.71	0.66	0.65	0.60	1.28
Inventory turnover	5.1	5.2	5.6	5.1	10.8
(Millions of yen)
R&D expenditure	12,000	11,100	10,100	10,700	11,200
Depreciation and Amortization	23,541	21,632	24,026	23,544	26,783
Cash flow (A)	28,470	25,004	24,767	18,690	23,466
Capital expenditure (B)	32,238	22,062	20,941	18,921	34,126
Free cash flow (A) - (B)	(3,768)	2,942	3,826	(231)	(10,660)
(Yen)
Net income (loss) per share	15.64	12.24	7.66	(2.53)	1.27
Cash flow per share	50.52	44.29	44.30	33.54	42.11
Shareholders' equity per share	421.34	413.22	406.48	407.09	419.33
(Times)
Interest coverage	2.62	2.22	1.34	-0.26	0.88

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