Eleven-year Summary
NSK Ltd. and Consolidated Subsidiaries
Millions of yen
(Unless otherwise specified)
(Unless otherwise specified)
| Year ended March 31 | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|
| Net sales | ¥717,225 | ¥628,474 | ¥580,989 | ¥522,217 | ¥522,820 |
| Cost of sales and SGA expenses | 654,842 | 585,922 | 542,706 | 496,245 | 504,972 |
| Operating income | 62,383 | 42,552 | 38,283 | 25,972 | 17,847 |
| Other income (expenses) | (5,346) | 516 | (3,251) | 479 | (19,974) |
| Income (loss) before income taxes and minority interests |
57,037 | 43,068 | 35,031 | 26,451 | (2,127) |
| Income taxes | 20,198 | 16,412 | 11,601 | 11,473 | 970 |
| Net income (loss) | 34,853 | 25,586 | 22,349 | 14,293 | (2,670) |
| Current assets | 389,067 | 313,569 | 278,678 | 295,491 | 285,749 |
| Non-current assets | 426,721 | 429,462 | 349,905 | 326,386 | 307,349 |
| Other assets | - | - | - | - | - |
| Total assets | 815,788 | 743,032 | 628,583 | 621,877 | 593,098 |
| Current liabilities | 297,489 | 266,834 | 234,300 | 245,588 | 227,314 |
| Long-term liabilities | 241,571 | 228,373 | 194,420 | 175,548 | 183,481 |
| Net assets | 276,727 | 247,823 | 199,861 | 200,739 | 182,302 |
| Total liabilities and net assets | 815,788 | 743,032 | 628,583 | 621,877 | 593,098 |
| Number of employees | 23,413 | 22,639 | 20,737 | 19,772 | 20,351 |
| (%) | |||||
| Gross profit margin | 23.2% | 22.4% | 22.5% | 21.5% | 19.6% |
| Operating income margin | 8.7 | 6.8 | 6.6 | 5.0 | 3.4 |
| SGA expenses/net sales | 14.5 | 15.6 | 15.9 | 16.5 | 16.2 |
| Net income margin | 4.9 | 4.1 | 3.8 | 2.7 | (0.5) |
| Return on average assets (ROA) | 4.5 | 3.7 | 3.6 | 2.4 | (0.4) |
| Return on average shareholders’ equity (ROE) | 14.0 | 12.1 | 11.9 | 8.0 | (1.4) |
| Ratio of net worth to total capital | 32.2 | 31.7 | 30.0 | 30.3 | 28.8 |
| Current ratio | 130.8 | 117.5 | 118.9 | 120.3 | 125.7 |
| Ratio of fixed assets to long-term capital | 84.7 | 92.5 | 91.4 | 89.6 | 86.8 |
| (Times) | |||||
| Asset turnover | 0.92 | 0.92 | 0.93 | 0.86 | 0.85 |
| Inventory turnover | 7.0 | 6.9 | 7.4 | 6.6 | 5.8 |
| (Millions of yen) | |||||
| R&D expenditures | ¥ 10,100 | ¥ 9,728 | ¥ 9,806 | ¥ 8,722 | ¥ 8,307 |
| Depreciation and amortization | 35,316 | 30,099 | 27,435 | 26,909 | 28,812 |
| Cash flow (A) | 62,878 | 49,750 | 44,609 | 38,296 | 23,249 |
| Capital expenditures (excluding intangible assets) (B) | 36,216 | 47,293 | 36,912 | 25,502 | 23,010 |
| Free cash flows (A)–(B) | 26,662 | 2,457 | 7,697 | 12,794 | 239 |
| (Yen) | |||||
| Net income (loss) per share | ¥ 64.53 | ¥ 47.28 | ¥ 41.35 | ¥ 26.12 | ¥ (5.22) |
| Cash flow per share | 116.42 | 92.24 | 82.73 | 71.01 | 42.71 |
| Net assets per share | 485.62 | 436.48 | 349.07 | 349.83 | 316.27 |
| (Times) | |||||
| Net D/E ratio | 0.69 | 0.73 | 0.89 | 0.99 | 1.22 |
| Interest coverage | 11.84 | 9.71 | 7.93 | 4.52 | 2.99 |
Millions of yen
(Unless otherwise specified)
(Unless otherwise specified)
| Year ended March 31 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|
| Net sales | ¥480,902 | ¥533,144 | ¥486,539 | ¥472,614 | ¥493,151 | ¥481,339 |
| Cost of sales and SGA expenses | 476,954 | 507,303 | 471,837 | 459,622 | 470,380 | 454,094 |
| Operating income | 3,947 | 25,841 | 14,701 | 12,992 | 22,771 | 27,243 |
| Other income (expenses) | (14,271) | (2,528) | (6,101) | (21,312) | (35,166) | (8,187) |
| Income (loss) before income taxes and minority interests |
(10,324) | 23,312 | 8,599 | (8,319) | (12,395) | 19,056 |
| Income taxes | 7,181 | 11,132 | 4,932 | (3,696) | 2,872 | 10,241 |
| Net income (loss) | (17,696) | 11,425 | 2,798 | (4,094) | (15,173) | 8,810 |
| Current assets | 291,490 | 321,575 | 392,459 | 389,091 | 417,188 |
426,692 |
| Non-current assets | 351,332 | 358,881 | 247,631 | 257,212 | 257,361 | 247,306 |
| Other assets | - | - | - | - | - | 17,630 |
| Total assets | 642,823 | 680,457 | 640,090 | 646,303 | 674,549 | 691,629 |
| Current liabilities | 239,378 | 261,952 | 282,719 | 243,544 | 289,045 |
288,375 |
| Long-term liabilities | 182,455 | 179,749 | 160,951 | 199,395 | 169,766 | 173,592 |
| Net assets | 220,989 | 238,755 | 196,419 | 203,362 | 215,736 | 229,660 |
| Total liabilities and net assets | 642,823 | 680,457 | 640,090 | 646,303 | 674,549 | 691,629 |
| Number of employees | 22,337 | 23,283 | 24,295 | 22,482 | 22,322 | 18,286 |
| (%) | ||||||
| Gross profit margin | 18.1% | 19.7% | 19.1% | 19.3% | 20.7% | 21.0% |
| Operating income margin | 0.8 | 4.8 | 3.0 | 2.7 | 4.6 | 5.7 |
| SGA expenses/net sales | 17.3 | 14.8 | 16.1 | 16.6 | 16.1 | 15.4 |
| Net income margin | (3.7) | 2.1 | 0.6 | (0.9) | (3.1) | 1.8 |
| Return on average assets (ROA) | (2.7) | 1.7 | 0.4 | (0.6) | (2.2) | 1.3 |
| Return on average shareholders’ equity (ROE) | (8.1) | 5.5 | 1.5 | (2.0) | (7.0) | 4.0 |
| Ratio of net worth to total capital | 32.4 | 33.4 | 29.3 | 30.7 | 31.1 | 32.6 |
| Current ratio | 121.8 | 122.8 | 138.8 | 159.8 | 144.3 | 148.0 |
| Ratio of fixed assets to long-term capital | 89.9 | 88.1 | 71.1 | 64.6 | 67.8 | 62.0 |
| (Times) | ||||||
| Asset turnover | 0.73 | 0.81 | 0.76 | 0.72 | 0.72 |
0.71 |
| Inventory turnover | 4.8 | 5.2 | 4.6 | 4.3 | 4.7 | 5.1 |
| (Millions of yen) | ||||||
| R&D expenditures | ¥ 8,036 | ¥ 9,268 | ¥ 8,777 | ¥ 13,800 | ¥ 12,700 | ¥ 12,000 |
| Depreciation and amortization | 27,536 | 26,210 | 26,349 | 26,155 | 26,073 | 23,541 |
| Cash flow (A) | 6,699 | 34,349 | 26,181 | 18,863 | 25,021 | 28,470 |
| Capital expenditures (excluding intangible assets) (B) |
36,183 | 33,872 | 26,701 | 24,157 | 33,373 | 32,238 |
| Free cash flows (A)–(B) | (29,484) | 477 | (520) | (5,294) | (8,352) | (3,768) |
| (Yen) | ||||||
| Net income (loss) per share | ¥ (31.79) | ¥ 20.35 | ¥ 4.98 | ¥ (7.27) |
¥ (26.92) |
¥ 15.64 |
| Cash flow per share | 12.04 | 61.19 | 46.63 | 33.49 | 44.37 |
50.52 |
| Net assets per share | 378.03 | 405.12 | 333.57 | 353.29 | 387.18 | 421.34 |
| (Times) | ||||||
| Net D/E ratio | 1.04 | 0.88 | 1.07 | 1.20 |
1.29 |
1.13 |
| Interest coverage | 0.78 | 3.01 | 1.71 | 1.47 | 2.15 | 2.62 |