|
 |
Financial Information:
Annual Report 2002
| Consolidated
Statements of Operations |
NSK Ltd. and Subsidiaries
| Millions of
yen |
Thousands of
U.S. dollars
(Note 2) |
| For the years
ended March 31 |
2002 |
2001 |
2002 |
| Net sales |
¥480,902 |
¥533,144 |
$3,615,805 |
| Cost of sales (Note 12) |
393,636 |
428,291 |
2,959,669 |
 |
| Gross profit |
87,265 |
104,852 |
656,128 |
| |
|
|
|
| Selling, general and administrative expenses
(Note 12) |
83,318 |
79,011 |
626,451 |
|
| Operating income |
3,947 |
25,841 |
29,677 |
|
| |
|
|
|
| Other income (expenses): |
|
|
|
| Interest and dividend income |
2,127 |
2,558 |
15,992 |
| Interest expense |
(7,757) |
(9,430) |
(58,323) |
| Loss on devaluation of investment securities |
(12,898) |
- |
(96,977) |
| Gain on sales of property, plant and equipment |
9,276 |
- |
69,744 |
| Costs related to business restructuring |
(3,850) |
(2,606) |
(28,947) |
| Equity in earnings of affiliated companies |
2,564 |
3,228 |
19,278 |
| Gain on contribution of securities to employees'
retirement benefit trust |
- |
20,241 |
- |
| Gain on sales of investment securities |
313 |
3,620 |
2,353 |
| Gain on sales of investments in affiliated
companies |
- |
895 |
- |
| Amortization of net retirement benefit obligation
at transition |
- |
(17,907) |
- |
| Other, net |
(4,046) |
(3,128) |
(30,421) |
|
| |
(14,271) |
(2,528) |
(107,301) |
|
| |
|
|
|
| (Loss) income before income taxes and minority interests |
(10,324) |
23,312 |
(77,624) |
| Income taxes (Note 7): |
|
|
|
| Current |
3,481 |
8,271 |
26,173 |
| Deferred |
3,699 |
2,861 |
27,812 |
|
| |
7,181 |
11,132 |
53,992 |
|
| |
|
|
|
| Minority interests in earnings of consolidated subsidiaries |
190 |
753 |
1,429 |
|
| Net (loss) income (Note 16) |
¥(17,696) |
¥11,425 |
$(133,053) |
The accompanying notes are an integral part of these statements.
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