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Fiscal Year 2007

FY2007 4th Quarter Financial Results

Financial Results Presentations
Date
February 27，2007
Venue
Waseda University Nihonbashi Campus

Financial Results Overview

Sales of the Fourth Quarter of 2007 reduced 0.7% year-on-year to ¥17,035 million due to the decrease in Inverter and Legacy Companies and contraction of Vogt Component Company despite expansion in Automotive and Other Companies. The decline was also accounted for the appreciation of Japanese Yen which was up 3.9% from 117.6 to 113.0 Yen to a US dollar as compared with a year earlier. Operating income increased 2.2 times to ¥1,316 million as compared with the same term last year, attributable partly to the increased revenue leading to sustainable profit in Coil Business and growing profitability in Automotive and Other Companies, and partly to the gain in VOGT Component Company in contrast to a lump-sum amortization of goodwill accounted in the same term last year despite the inevitably operating loss in support of the aggressive restructuring steps in VOGT EMS Company. Ordinary income gained 2.1 times year-on-year to ¥1,032 million because of the unrealized exchange loss resulted from yen appreciation despite no investment loss from equity-method. Net income increased to ¥949 million from a loss of ¥55 million in the same term last year.

（Unit:Millions of yen）
  FY2007 FY2006 Change
4th quarter 4th quarter Amount %
Net sales 17,035 △0.7% 17,162 66.3% △127 △0.7
Operating income 1,316 116.3% 608 △34.3% 708 116.3
Ordinary income 1,032 109.8% 492 △50.7% 540 109.8
lncome before income tax 767 4.5% △94 △0.5% 861 -
Net income 949 - △55 △104.8% 1,004 -
Capital expenditure 1,330 1,149 181
Depreciation 835 1,315 △480
Foreign exchange rate (US$) ¥111 ¥119  

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

FY2007 3rd Quarter Financial Results

Financial Results Presentations
Date
November 1，2007
Venue
Waseda University Nihonbashi Campus

Financial Results Overview

Sales of the Third Quarter of 2007 climbed 7.8% year-on-year to ¥17,885 million due to the stable expansion in Power Solution and Signal and double-digit growth in Automotive and Other Companies and Vogt Business despite the decline in Inverter. Operating income grew 6.1% year-on-year to ¥1,439 million derived from the increased revenue in Automotive and Other Companies leading to improved profitability in Coil Business, although VOGT Component Company was under restructure and VOGT EMS Company recorded a decline in sales. Ordinary income reduced 35% year-on-year to ¥1,023 million in response to the rising interest payables and exchange loss despite decreased investment loss from the equity-method. Net income dropped only 5.6% year-on-year to ¥872 million, which was explained by the gain from disposal of the headquarters building and other profit from securities sales despite the extraordinary loss from the restructuring costs at VOGT, Panta and Mexico in addition to impairment loss in investment of securities in Arima.

（Unit:Millions of yen）
  FY2007 FY2006 Change
3rd quarter 3rd quarter Amount %
Net sales 17,885 100.0% 16,587 100.0% 1,298 7.8
Operating income 1,439 8.0% 1,356 8.2% 83 6.1
Ordinary income 1,023 5.7% 1,574 9.5% △551 △35.0
lncome before income tax 1,252 7.0% 1,493 9.0% △241 △16.1
Net income 872 4.9% 924 5.6% △52 △5.6
Capital expenditure 980 1,198 218
Depreciation 895 650 △245
Foreign exchange rate (US$) ¥115 ¥118  

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

FY2007 2nd Quarter Financial Results

Financial Results Presentations
Date
August 8，2007
Venue
Waseda University Nihonbashi Campus

Financial Results Overview

Sales of the Second Quarter of 2007 jumped 23.1% year-on-year to ¥18,402 million due to the strong expansion in Power Inductor, Power Solution, Signal, Automotive and Other Companies along with the improvement of Inverter which had declined for some recent months, in addition to the enlarged contribution from VOGT Component Company and VOGT EMS Company. Operating income gained 11.3% year-on-year to ¥1,253 million thanks to the contribution of Coil Business where sales revenue in Legacy and Automotive Companies increased and profit in Other Company improved significantly. The increased margin in the Coil Business was much enough to make up for the declined yield from the surging costs of raw materials in VOGT Component Company and for the forward investments on equipments and labors in VOGT EMS Company to cope with upturn of business environment. Ordinary income climbed 41.8% to ¥1,750 million by reason of additional exchange gain and reduced investment loss from the equity-method despite rising interest payables. Net income increased 16.0% year-on-year to ¥679 million. This was in response to the gain from sales of the fixed assets in Taiwan and decreased income tax resulting from larger deferred-tax-assets base in light of the extraordinary loss from the restructuring costs, the impairment loss and loss of sales of affiliated company stock.

（Unit:Millions of yen）
  FY2007 FY2006 Change
2nd quarter 2nd quarter Amount %
Net sales 18,402 100.0% 14,953 100.0% 3,449 23.1
Operating income 1,253 6.8% 1,125 7.5% 128 11.3
Ordinary income 1,750 9.5% 1,234 8.2% 516 41.8
lncome before income tax 1,001 5.4% 1,520 10.2% (519) (34.1)
Net income 679 3.7% 586 3.9% 93 16.0
Capital expenditure 1,369 1,060 309
Depreciation 1,022 711 311
Foreign exchange rate (US$) ¥121 ¥114  

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

FY2007 1st Quarter Financial Results

Financial Results Presentations
Date
May 8，2007
Venue
Waseda University Nihonbashi Campus

Financial Results Overview

Net sales of the First Quarter of 2007 added 14.1% to ¥16,888 million from the same term last year as a result of the keen expansion in Power Inductor, Power Solution and Signal, in addition to the increase of Automotive and Other Companies accompanied by the contribution of the VOGT Component Company and VOGT EMS Company despite the downturn in the sales of Inverter Company. Operating income fell 34.8% year-on-year to ¥705 million by reason partly of the dramatic sales reduction in Inverter Company and partly of the declined profit margin in Legacy Company followed by negative impact from the incomplete scale of production at our PRC plants during the Lunar New Year holidays, in addition to the decrease in the automotive-related-equipment sales of higher profit margin from VOGT EMS Company. Ordinary income reduced 53.3% to ¥563 million. This was explained by the additional interest payables, reduced exchange gain and increased investment loss stemmed from the equity method. Net income dropped 51.2% year-on-year to ¥355 million.

（Unit:Millions of yen）
  FY2007 FY2006 Change
1st quarter 1st quarter Amount %
Net sales 16,888 100.0% 14,806 100.0% 2,082 14.1
Operating income 705 4.2% 1,082 7.3% (377) (34.8)
Ordinary income 563 3.3% 1,206 8.1% (643) (53.3)
lncome before income tax 594 3.5% 1,206 8.1% (612) (50.7)
Net income 355 2.1% 727 4.9% (372) (51.2)
Capital expenditure 844 568 276
Depreciation 848 639 209
Foreign exchange rate (US$) ¥119 ¥118  

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

Links to related information

Financial Results
Fiscal Year 2007（Financial Results）
Annual General Meeting of Shareholders
53rd Annual General Meeting of Shareholders
Information regarding the 53rd Annual General Meeting of Shareholders