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IR EVENTS Fiscal Year 2004

FY2004 4th Quarter Financial Results

Financial Results Presentations
Date
February 3，2005
Venue
Tokyo Stock Exchange

Financial Results Overview

Net sales of the fourth quarter of 2004 were up 15% from the same term last year to ¥9,361 million. Although sales in businesses of magnetics and optical electronics reduced, the expanding sales in coils for information technology and communication equipment plus the sharply growing sales in automotive electronics parts, coils for audiovisual equipment and others have come to push up the overall sales.
Operating profit increased to ¥832 million, slightly up by 2.3% over the year-before figure. The sustainable profit was accredited to the increase in coil sales coupled with the effective cost control on labor wages and manufacturing cost. Operating loss for electromagnetics business improved following the downsizing directive despite the sharp decline of the optical business. Likewise, the drop in exchange loss resulted in an increase in ordinary income to ¥652 million, up 16.8% compared with the corresponding period of last year although the investment loss brought by the equity method remained unfavorable to the result.
Net Income before tax amounted to ¥220 million, 2.3 times over the figure of the same term last year. The extraordinary loss was eased this year despite all associated costs for removing Malaysia production and closing down of Mexico magnetics factory in comparison with the big losses in 2003 relating to the sales of the subsidiary and unrealized investment loss in securities.

（Unit:Millions of yen）
  FY2004 FY2003 Change
4th quarterr 4th quarterr Amount %
Net sales 9,361 100.0% 8,140 100.0% 1,221 15.0
Operating income 832 8.9% 813 10.0% 19 2.3
Ordinary income 652 7.0% 559 6.9% 93 16.8
lncome before income tax 220 2.3% 95 1.2% 125 132.9
Net income 56 0.6% 374 4.6% (318) (85.0)
Capital expenditure 444 586 (142)
Depreciation 424 385 39
Foreign exchange rate (US$) ¥102 ¥107  

Financial Results Materials (Click on a report title to download (PDF format).)

FY2004 3rd Quarter Financial Results

Financial Results Presentations
Date
October 27, 2004
Venue
Tokyo Stock Exchange

Financial Results　Overview

Net sales of the third quarter of 2004 were up 18.5% from the same term last year to ¥9,518 million. Sales in businesses of magnetics and optical electronics diminished in line with the decision of the downsizing. Sales in automotive electronics parts recorded a mild growth whereas coils for audiovisual equipment and for information technology and communication equipment increased substantially by almost 30%.
Operating profit increased to ¥1,036 million, up 41.6% over the year-before figure. The sustainable profit was attributed to the increase of sales and decline of manufacturing cost. Operating loss for optical electronics business was improved because of the downsizing of electromagnetics in addition to stringent control over labor costs and manufacturing expenses. Meanwhile, ordinary income achieved ¥934 million, up 53.9% over the year-before figure, even though the investment loss brought about by the equity method remained unfavorable to the result. The down scale of the electromagnetics brought up a restructuring cost amounted to ¥58 million. Net income of the current term maintained at ¥631 million, 57.4% up from the last term.

（Unit:Millions of yen）
  FY2004 FY2003 Change
3rd quarterr 3rd quarterr Amount %
Net sales 9,519 100.0% 8,033 100.0% 1,486 18.5
Operating income 1,036 10.9% 709 8.8% 327 46.2
Ordinary income 934 9.8% 607 7.6% 327 53.7
lncome before income tax 876 9.2% 472 5.9% 404 85.7
Net income 631 6.6% 402 5.0% 229 57.1
Capital expenditure 564 306 258
Depreciation 405 389 16
Foreign exchange rate (US$) ¥110 ¥111  

Financial Results Materials (Click on a report title to download (PDF format).)

FY2004 2nd Quarter Financial Results

Financial Results Presentations
Date
August 3，2004
Venue
Tokyo Stock Exchange

Financial Results Overview

Overall sales of the second quarter of 2004 were up 28.2% from the same term last year to ¥9,179 million. Sales in businesses of magnetics and optical electronics rose slightly to meet demand of customers. Sales in automotive electronics parts recorded a mild growth whereas coils for audiovisual equipment and for information technology and communication equipment increased substantially by almost 30%.
Operating income increased to ¥979 million, up 71.3% over the year-before figure, despite increased loss at electromagnetics division as a result of downsizing and severance payable. The sustainable profit was attributed to declining manufacturing expenses over both ABS and general coils businesses in addition to stringent control over labor costs and manufacturing expenses for optical electronics business. Meanwhile, ordinary income achieved ¥917 million, up 88.0% over the year-before figure, even though the investment loss brought about by the equity method remained unfavorable to the result. Net income of the current term maintained at ¥645 million, 33.9% up from the last term.

（Unit:Millions of yen）
  FY2004 FY2003 Change
2nd quarterr 2nd quarterr Amount %
Net sales 9,179 100.0% 7,162 100.0% 2,017 28.2
Operating income 979 10.7% 571 8.0% 408 71.3
Ordinary income 917 10.0% 488 6.8% 429 88.0
lncome before income tax 904 9.8% 440 6.2% 464 105.1
Net income 645 7.0% 481 6.7% 164 33.9
Capital expenditure 391 442 (51)
Depreciation 382 385 (3)
Foreign exchange rate (US$) ¥109 ¥120  

Financial Results Materials (Click on a report title to download (PDF format).)

FY2004 1st Quarter Financial Results

Financial Results Presentations
Date
April 22，2004
Venue
Tokyo Stock Exchange

Financial Results Overview

Net sales of the 1st quarter of 2004 were up 13.7% from the same term last year to ¥8,188 million. Sales of the unprofitable businesses like magnetics and optical electronics declined as planned whereas sales in automotive electronics parts, coils for audio visual equipment and for information technology and communication equipment considerably increased by 18.8%.
Operating income increased to ¥764 million, up 154.2% over the year-before figure, on account of sustainable growth of sales and substantial improvement on gross profit due to slash on raw material costs and manufacturing expenses for general coils, decreased operating loss in the declining magnetics business by reduction of manufacturing and development expenses, and constant operating income in our optical electronic business resulting from improved manufacturing efficiency despite the drop in sales. Meanwhile, ordinary income reached ¥625 million, up 104.3% over the year-before figure, though the unrealized exchange loss arising from valuation of foreign currency deposits and trade account receivables at overseas subsidiaries caused by the strong Japanese yen in addition to the loss through the equity method remained unfavorable to the result. The dramatic loss imputed to the disposal of components division in last term caused to reflect a remarkable growth on earnings. Net income of the current term maintained at ¥475 million.

（Unit:Millions of yen）
  FY2004 FY2003 Change
1st quarterr 1st quarterr Amount %
Net sales 8,187 100.0% 7,202 100.0% 985 13.7
Operating income 764 9.3% 301 4.2% 463 154.2
Ordinary income 625 7.6% 306 4.2% 319 104.3
lncome before income tax 625 7.6% (934) (13.0%) 1,559 －
Net income 475 5.8% (942) (13.1%) 1,417 －
Capital expenditure 304 232 72
Depreciation 353 349 4
Foreign exchange rate (US$) ¥104 ¥118  

Financial Results Materials (Click on a report title to download (PDF format).)

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