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Financial Information:
Annual Report 2005
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Consolidated
Balance Sheets |
| NSK Ltd. and Subsidiaries |
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Millions of yen |
Thousands of
U.S. dollars
(Note 2) |
|
| As of March 31, |
2005 |
2004 |
2005 |
|
| Assets |
| Current assets: |
| |
Cash and cash equivalents |
¥39,387 |
¥58,993 |
$368,103 |
| Short-term investments (Note 3) |
944 |
1,726 |
8,822 |
| Notes and accounts receivable: |
| |
Affiliated companies |
1,369 |
1,143 |
12,794 |
| Trade |
110,452 |
120,064 |
1,032,262 |
| Less allowance for doubtful receivables |
(1,402) |
(1,252) |
(13,103) |
| Inventories (Note 4) |
81,730 |
75,905 |
763,832 |
| Deferred tax assets (Note 7) |
14,347 |
11,447 |
134,084 |
| Other current assets |
31,847 |
27,463 |
297,636 |
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| Total current assets |
278,678 |
295,491 |
2,604,467 |
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| Non-current assets: |
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Property, plant and equipment, at cost (Notes 5
and 9): |
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Land |
26,570 |
26,426 |
248,318 |
| Buildings |
152,656 |
150,426 |
1,426,692 |
| Machinery and equipment |
446,611 |
430,884 |
4,173,935 |
| Construction in progress |
13,546 |
9,108 |
126,598 |
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|
639,384 |
616,845 |
5,975,551 |
| Less accumulated depreciation |
(434,779) |
(420,034) |
(4,063,355) |
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Property, plant and equipment, net |
204,604 |
196,810 |
1,912,187 |
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| Excess of cost over net assets acquired |
4,702 |
5,272 |
43,944 |
| Investments in and advances to affiliated companies |
35,487 |
33,579 |
331,654 |
| Investment securities (Notes 3 and 9) |
57,240 |
54,903 |
534,953 |
| Deferred tax assets (Note 7) |
2,593 |
3,619 |
24,234 |
| Prepaid pension cost (Note 10) |
35,454 |
22,223 |
331,346 |
| Other non-current assets |
9,821 |
9,975 |
91,785 |
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| Total non-current assets |
349,905 |
326,386 |
3,270,140 |
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| Total assets |
¥628,583 |
¥621,877 |
$5,874,607 |
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Millions of yen |
Thousands of
U.S. dollars
(Note 2) |
|
| As of March 31, |
2005 |
2004 |
2005 |
|
| Liabilities and shareholders’ equity |
| Current liabilities: |
| |
Short-term debt (Notes 6 and 9) |
¥63,884 |
¥75,249 |
$597,047 |
| Current portion of long-term debt (Note 9) |
21,770 |
39,157 |
203,458 |
| Notes and accounts payable (Note 9): |
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Affiliated companies |
16,013 |
15,414 |
149,654 |
| Trade |
81,610 |
68,299 |
762,710 |
| Accrued income taxes (Note 7) |
5,753 |
6,708 |
53,766 |
| Accrued expenses and other current liabilities
(Note 8) |
45,268 |
40,759 |
423,065 |
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| Total current liabilities |
234,300 |
245,588 |
2,189,720 |
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| Long-term liabilities: |
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Long-term debt (Note 9) |
121,529 |
132,141 |
1,135,785 |
| Accrued employees’ retirement benefits (Note
10) |
34,281 |
17,316 |
320,383 |
| Accrued officers’ retirement benefits |
414 |
1,729 |
3,869 |
| Deferred tax liabilities (Note 7) |
22,484 |
16,722 |
210,131 |
| Other long-term liabilities |
15,710 |
7,638 |
146,822 |
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| Total long-term liabilities |
194,420 |
175,548 |
1,817,009 |
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| Minority interests |
11,596 |
12,077 |
108,374 |
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| Shareholders’ equity (Notes 11 and 16): |
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Common stock, without par value: |
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Authorized: |
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2005 – 987,244,000 shares |
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2004 – 987,244,000 shares |
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Issued: |
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2005 – 551,268,104 shares |
67,176 |
- |
627,813 |
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|
2004 – 551,268,104 shares |
- |
67,176 |
- |
| Additional paid-in capital |
77,925 |
77,923 |
728,271 |
| Retained earnings |
55,783 |
58,856 |
521,336 |
| Unrealized holding gain on securities |
21,244 |
19,127 |
198,542 |
| Translation adjustments |
(29,447) |
(30,061) |
(275,206) |
| Less NSK treasury stock, at cost |
(4,417) |
(4,361) |
(41,280) |
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| Total shareholders’ equity |
188,265 |
188,662 |
1,759,486 |
| Commitments and contingencies (Note 13) |
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| Total liabilities and shareholders’ equity |
¥628,583 |
¥621,877 |
$5,874,607 |
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| The accompanying notes are an integral
part of these statements. |
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