デュエルビッツブックメーカー
デュエルビッツブックメーカー デュエルビッツブックメーカーL.,LTD
デュエルビッツブックメーカー
ECOWAY デュエルビッツブックメーカー
デュエルビッツブックメーカーl, Ltd.
Non-Consolidated Financial Review

Income Analysis

During fiscal 1997, non-consolidated net sales declined 2.3%, to 1,115.3 billion yen. Domestic sales decreased 3.7%, to 897.7 billion yen, but overseas sales grew 3.6%, to 217.6 billion yen.

Sales デュエルビッツブックメーカー Iron and Steel Sector, which includes Kobe Steel's welding operations, edged up 4.0%, to 526.0 billion yen, making up 47.1% of net sales, compared with 44.3%, デュエルビッツブックメーカー previous fiscal year. Sales デュエルビッツブックメーカー Aluminum and Copper Sector grew 0.6%, to 266.2 billion yen, accounting for 23.9% of total sales, up from 23.2% in fiscal 1996. デュエルビッツブックメーカー Machinery and Information Sector, sales declined 13.0%, to 323.0 billion yen, or 29.0% of net sales, compared with 32.5% デュエルビッツブックメーカー previous fiscal year.

Operating income was 80.0 billion yen, the same amount as the previous fiscal year. The operating profit margin, however, grew to 7.2%, from 7.0% in fiscal 1996.

Net other expenses totaled 68.3 billion yen, 30.5% higher than デュエルビッツブックメーカー previous fiscal year. Therefore, income before income taxes was 11.7 billion yen, and, after subtracting 4.3 billion yen in corporate taxes, net income デュエルビッツブックメーカーeriod was 7.4 billion yen, a 65.8% decline from the previous fiscal year. Net income per share was 2.62 yen. As a result, デュエルビッツブックメーカーl recorded 12.8 billion yen in unappropriated retained earnings at the end of the year and resumed cash dividends of 2.0 yen per share. A higher dividend was not paid because デュエルビッツブックメーカーl's financial condition has not strengthened sufficiently and forecasts are for the economic environment to get much worse.

Return on average assets was 0.4%, compared with 1.2% in fiscal 1996 and 3.7% in fiscal 1995. Return on average equity was 1.8%, compared with 5.4% and 19.6%, respectively, デュエルビッツブックメーカー two previous fiscal years.

Analysis of Cash Flow and Financial Position

The Company's operating, investing, and financing activities during the fiscal year resulted in a 215.0% increase in cash and cash equivalents at fiscal year-end, to 45.9 billion yen.

Net cash provided by operating activities amounted to 5.8 billion yen, down from 35.2 billion yen デュエルビッツブックメーカー previous year.

During the year, the Company spent 40.9 billion yen デュエルビッツブックメーカーurchase of plant and equipment, and 26.4 billion yen for the acquisition of marketable securities, investments, and other assets. On the other hand, the Company registered a 6.4 billion yen inflow from the sale of plant and equipment and a 5.4 billion yen inflow from the sale or collection of marketable securities, investments, and other assets. As a result, net cash used in investing activities amounted to 55.5 billion yen.

Net cash provided by financing activities was 81.1 billion yen, a 84.0 billion yen increase from the previous fiscal year. During the year, the Company procured 60.3 billion yen through an increase in short-term borrowings and 152.6 billion yen through the issuance of long-term debt and bonds. On the other hand, the repayment of long-term debt and the redemption of bonds totaled 131.8 billion yen.

Total assets at the end of fiscal 1997 amounted to 1,828.6 billion yen, an increase of 2.9% from the previous fiscal year-end. Total stockholders' equity at fiscal year-end was 416.6 billion yen, compared with 409.2 billion yen, at the end of fiscal 1996. As a result, the Company's net worth ratio was 22.8%.

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