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Financial Information:
Annual Report 2004
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Notes
to Consolidated Financial Statements |
| NSK Ltd. and Subsidiaries For the year ended March 31, 2004 |
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16. Amounts Per Share
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| Yen |
U.S. dollars |
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| For the years ended March 31 |
2004 |
2003 |
2004 |
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| Net income (loss): |
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Basic |
¥26.12 |
¥(5.22) |
$0.246 |
| Diluted |
25.83 |
- |
0.244 |
| Net assets |
349.83 |
316.27 |
3.300 |
| Cash dividends applicable to the year |
6.50 |
5.00 |
0.061 |
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Basic net income (loss) per share is computed based on the
net income (loss) available for distribution to shareholders of
common stock and the weighted average number of shares
of common stock outstanding during each year. Diluted net
income per share is computed based on the 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 as the effect of any conversion
and exercise would have been antidilutive.
Amounts per share of net assets are computed based on
net assets available for distribution to the shareholders and
the number of shares of common stock outstanding at the
year end.
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 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 outflows for the year ended March 31, 2004:
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| For the year ended March 31, 2004 |
Millions of yen |
Thousands of
U.S. dollars |
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| Current assets |
¥19,352 |
$182,566 |
| Non-current assets |
15,455 |
145,802 |
| Excess of cost over net assets acquired |
5,700 |
53,774 |
| Current liabilities |
(7,703) |
(72,670) |
| Non-current liabilities |
(2,823) |
(26,632) |
| Minority interests |
(471) |
(4,443) |
| Carrying value on an equity basis |
(12,212) |
(115,208) |
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| Acquisition cost |
17,298 |
163,189 |
| Cash and cash equivalents held by subsidiaries |
(7,958) |
(75,075) |
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| Net cash outflows |
¥9,339 |
$88,104 |
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(b) 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 years ended March 31, 2004 and
2003:
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Millions of yen |
Thousands of
U.S. dollars |
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| For the years ended March 31 |
2004 |
2003 |
2004 |
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| Current assets |
¥11,413 |
¥2,094 |
$107,669 |
| Non-current assets |
3,302 |
1,368 |
31,150 |
| Current liabilities |
(11,829) |
(599) |
(111,594) |
| Non-current liabilities |
(671) |
- |
(6,330) |
| Minority interest |
(686) |
(684) |
(6,471) |
| Translation adjustments |
90 |
(123) |
849 |
| Carrying value on an equity basis |
(729) |
- |
(6,877) |
| Gain (loss) on sales of subsidiaries’ stock |
460 |
(844) |
4,339 |
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| Proceeds from sales of stock |
1,351 |
1,210 |
12,745 |
| Cash and cash equivalents held by subsidiaries |
(1,706) |
(164) |
(16,094) |
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| Net cash (outflows) inflows |
¥(355) |
¥1,046 |
$(3,349) |
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