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Financial Information:
Annual Report 2002
| Consolidated
Statements of Shareholders' Equity |
NSK Ltd. and Subsidiaries
| Millions of
yen |
Thousands of
U.S. dollars
(Note 2) |
| For the years
ended March 31 |
2002 |
2001 |
2002 |
| Operating activities |
|
|
|
| (Loss) income before income taxes and minority
interests |
¥(10,324) |
¥23,312 |
$(77,624) |
| Depreciation and amortization |
27,536 |
26,210 |
207,038 |
| Provision for retirement benefits |
(1,463) |
(4,439) |
(11,000) |
| Amortization of excess of cost over net assets
acquired |
400 |
- |
3,008 |
| 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) |
(855) |
(69,744) |
| Gain on sales of securities |
(313) |
(4,516) |
(2,353) |
| Decrease (increase) in notes and accounts
receivable |
34,813 |
(16,251) |
261,752 |
| Decrease in inventories |
10,292 |
732 |
77,383 |
| (Decrease) increase in notes
and accounts payable |
(19,753) |
4,660 |
(148,519) |
| Other, net |
(5,690) |
4,544 |
(42,782) |
 |
| Subtotal |
46,875 |
42,827 |
352,444 |
| Interest paid |
(7,139) |
(9,717) |
(53,677) |
| Income taxes paid |
(9,404) |
(8,665) |
(70,707) |
|
| Net cash provided by operating activities |
30,331 |
24,444 |
228,053 |
|
| |
|
|
|
| Investing activities |
|
|
|
| Additions to property, plant and equipment |
(42,393) |
(33,872) |
(318,744) |
| Proceeds from sales of property, plant and
equipment |
11,039 |
4,292 |
83,000 |
| Increase in investments in affiliated companies |
(75) |
(1,356) |
(564) |
| Acquisition of subsidiaries' stock resulting
in changes in scope of consolidation (Note 17) |
42 |
- |
316 |
| Proceeds from sales of subsidiaries' stock
resulting in changes in scope of consolidation (Note 17) |
- |
956 |
- |
| (Increase) decrease in investment securities |
(2,093) |
10,084 |
(15,737) |
| Other, net |
(892) |
181 |
(6,707) |
|
| Net cash used in investing activities |
(34,372) |
(19,714) |
(258,436) |
|
| |
|
|
|
| Financing activities |
|
|
|
| (Decrease) increase in short-term debt |
(9,898) |
1,485 |
(74,421) |
| Proceeds from issuance of bonds |
- |
20,000 |
- |
| Increase (decrease) in long-term debt |
30,594 |
(38,750) |
230,030 |
| Cash dividends paid |
(3,085) |
(3,088) |
(23,195) |
| Acquisition of NSK treasury stock |
(4,462) |
(438) |
(33,549) |
| Other, net |
(228) |
654 |
(1,714) |
|
| Net cash provided by (used in) financing activities |
12,919 |
(20,140) |
97,135 |
|
| |
|
|
|
| Effect of exchange rate changes on cash and cash equivalents |
967 |
508 |
7,271 |
|
| Net increase (decrease) in cash and cash equivalents |
9,846 |
(14,901) |
74,030 |
| Cash and cash equivalents at beginning of the year |
46,712 |
61,613 |
351,218 |
|
| Cash and cash equivalents at end of the year |
¥56,558 |
¥46,712 |
$425,248 |
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The accompanying notes are an integral part of these statements.
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