|
 |
Financial Information:
Annual Report 2003
| Notes
to Consolidated Financial Statements |
NSK Ltd. and Subsidiaries
For the year ended March 31, 2003
| 16. Amounts
Per Share |
 |
| Yen |
U.S. dollars |
| For
the years ended March 31 |
2003 |
2002 |
2003 |
| Net loss: |
|
|
|
| Basic |
¥(5.22) |
¥(31.79) |
$(0.044) |
| Diluted |
- |
- |
- |
| Net assets |
316.27 |
378.03 |
2.636 |
| Cash dividends applicable to the year |
5.00 |
5.00 |
0.042 |
|
Until the year ended March 31, 2002, basic net income (loss)
per share was computed based on the net income (loss) reported
in the consolidated statements of operations and the weighted
average number of shares of common stock outstanding during each
year, and amounts per share of net assets were computed based
on the net assets reported in the consolidated balance sheets
and the number of shares of common stock outstanding at each balance
sheet date.
In accordance with a new accounting standard for earnings
per share which became effective April 1, 2002, basic net loss
per share for the year ended March 31, 2003 was computed based
on the net loss attributable to shareholders of common stock and
the weighted average number of shares of common stock outstanding
during the year, and amounts per share of net assets at March
31, 2003 was computed based on net assets available for distribution
to the shareholders and the number of shares of common stock outstanding
at the year end. If the previous method of computation had been
followed for the year ended March 31, 2003, basic net loss per
share and amounts per share of net assets would have been ¥(4.9)
and ¥315.9, respectively.
Under the new accounting standard, diluted net income per
share is computed based on the amount of net income available
for distribution to the shareholders and the weighted average
number of shares of common stock outstanding during each year
after giving effect to the dilutive potential of shares of common
stock to be issued upon the conversion of convertible bonds and
the exercise of stock options. However, no diluted net loss per
share is presented for the years ended March 31, 2003 and 2002
as the effect of any conversion and exercise would have been antidilutive.
Cash dividends per share represent the cash dividends proposed
by the Board of Directors as applicable to the respective years
together with the interim cash dividends paid.
| 17. Supplementary
Cash Flow Information |
|
(a) Summary of assets and liabilities
excluded from consolidation because of sales of subsidiaries’
stock
The following is a summary of the transferred assets and
liabilities, relevant selling prices and net cash inflows resulting
from the sales of subsidiaries‘ stock for the year ended
March 31, 2003:
| |
Millions
of yen |
Thousands
of
U.S. dollars |
| Current assets |
¥2,094 |
$17,450 |
| Non–current assets |
1,368 |
11,400 |
| Current liabilities |
(599) |
(4,992) |
| Minority interests |
(684) |
(5,700) |
| Translation adjustments |
(123) |
(1,025) |
| Loss on sales of subsidiaries’ stock |
(844) |
(7,033) |
|
| Proceeds from sales of stock |
1,210 |
10,083 |
| Cash and cash equivalents held by subsidiaries |
(164) |
(1,367) |
|
| Net proceeds |
¥1,046 |
$8,717 |
|
(b) Summary of assets and liabilities
of subsidiaries included in consolidation upon acquisition of
their stock
The following is a summary of the assets and liabilities
of subsidiaries which were included in consolidation upon acquisition
of their stock and a reconciliation of the related acquisition
cost and net cash inflows for the year ended March 31, 2002:
| |
Millions
of yen |
| Current assets |
¥1,763 |
| Non–current assets |
1,176 |
| Goodwill |
26 |
| Current liabilities |
(1,941) |
| Minority interests |
(215) |
| Carrying value on an equity basis |
(388) |
|
| Acquisition cost |
419 |
| Cash and cash equivalents held by subsidiaries |
(462) |
|
| Net cash inflows |
¥42 |
|
|
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