|
 |
Financial Information:
Annual Report 2003
| Consolidated
Statements of Operations |
NSK Ltd. and Subsidiaries
| Millions of
yen |
Thousands
of
U.S. dollars
(Note 2) |
| For the years
ended March 31 |
2003 |
2002 |
2003 |
| Net sales |
¥522,820 |
¥480,902 |
$4,356,833 |
| Cost of sales (Note 12) |
420,104 |
393,636 |
3,500,867 |
|
| Gross profit |
102,715 |
87,265 |
855,958 |
| |
|
|
|
| Selling, general and administrative expenses (Note 12) |
84,867 |
83,318 |
707,225 |
|
| Operating income |
17,847 |
3,947 |
148,725 |
|
| |
|
|
|
| Other income (expenses): |
|
|
|
| Interest and dividend income |
1,815 |
2,127 |
15,125 |
| Interest expense |
(6,567) |
(7,757) |
(54,725) |
| Loss on devaluation of investment securities |
(12,899) |
(12,898) |
(107,492) |
| Gain on sales of property, plant and equipment |
881 |
9,276 |
7,342 |
| Costs related to business restructuring |
(15,030) |
(3,850) |
(125,250) |
| Equity in earnings of affiliated companies |
3,378 |
2,564 |
28,150 |
Gain on contribution of securities to employees’
retirement
benefit trust |
11,891 |
- |
99,092 |
| Gain on sales of investment securities |
3,203 |
313 |
26,692 |
| Loss on sales of investments in affiliated
companies |
(844) |
- |
(7,033) |
| Other, net |
(5,804) |
(4,046) |
(48,367) |
|
| |
(19,974) |
(14,271) |
(166,450) |
|
| |
|
|
|
| Income (loss) before income taxes and minority interests |
(2,127) |
(10,324) |
(17,725) |
| Income taxes (Note 7): |
|
|
|
| Current |
5,164 |
3,481 |
43,033 |
| Deferred |
(4,193) |
3,699 |
(34,942) |
|
| |
970 |
7,181 |
8,083 |
|
| |
|
|
|
| Minority interests in (losses) earnings of consolidated
subsidiaries |
(426) |
190 |
(3,550) |
|
| Net income (loss) (Note 16) |
¥(2,670) |
¥(17,696) |
$(22,250) |
|
The accompanying notes are an integral part
of these statements.
 |
|
