(Attachment)
1.Consolidated Balance Sheet (summary)
(Millions of yen)
     
  As of March 20, 2005 As of March 20, 2004 Change
 
 
% of Total 
 
% of Total 
 
Assets
         
Current assets
 
 
 
 
 
  Cash and time deposits
17,976 
 
16,194 
 
  Trade notes and accounts receivable
91,128 
 
84,186 
 
  Short-term investments
152 
 
1,142
 
 
  Inventories
52,681 
 
54,345 
 
 
  Deferred tax assets
5,689 
 
5,337 
 
 
  Other current assets
8,646 
 
9,235 
 
 
  Allowance for doubtful accounts
(770) 
 
(830) 
 
 
Total current assets
175,505 
69.0 
169,611 
67.9 
5,894 
 
         
Fixed assets
         
  Tangible fixed assets
         
    Buildings and structures
16,198 
 
16,335 
 
 
    Machines and transportation devices
7,812 
 
7,004 
 
 
    Land
9,040 
 
9,103 
 
 
    Other tangible fixed assets
4,407 
 
4,400 
 
 
    Total tangible fixed assets
37,459
14.7 
36,844 
14.7 
615 
 
 
 
 
 
 
  Intangible fixed assets
 
 
 
 
 
    Goodwill
1,658 
 
5,858 
 
 
    Software
7,064 
 
6,147 
 
 
    Other intangible fixed assets
605 
 
1,991 
 
 
    Total intangible fixed assets
9,328 
3.7 
13,997 
5.6 
(4,669) 
 
 
 
 
 
 
  Investments and other assets
 
 
 
 
 
    Investments
18,006 
 
14,857 
 
 
    Long-term loans
194 
 
265 
 
 
    Deferred tax assets
11,488 
 
10,784 
 
 
    Other investments
2,792 
 
3,763 
 
 
    Allowance for doubtful accounts
(337) 
 
(295) 
 
 
  Total investments and other assets
32,145 
12.6 
29,375 
11.8 
2,770 
 
 
 
 
 
 
Total fixed assets
78,933 
31.0 
80,217 
32.1 
(1,284) 
 
 
 
 
 
 
Total Assets
254,438 
100.0 
249,829 
100.0 
4,609 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
Current liabilities
 
 
 
 
 
    Trade notes and accounts payable
65,478 
 
63,382 
 
 
    Short-term bank loans
39,067 
 
40,372 
 
 
    Current portion of convertible notes
 
15,000 
 
 
    Accrued expenses
15,423 
 
14,812 
 
 
    Accrued income taxes
6,292 
 
2,791 
 
 
    Other current liabilities
12,575 
 
16,306 
 
 
Total current liabilities
138,837 
54.6 
152,664 
61.1 
(13,827) 
 
 
 
 
 
 
Long-term liabilities
 
 
 
 
 
    Corporate bonds
10,000 
 
10,000 
 
 
    Convertible bonds
15,000 
 
 
 
    Long-term debt
13,740 
 
14,590 
 
 
    Accrued retirement benefits for employees
32,423 
 
29,276 
 
 
    Other long-term liabilities
2,000 
 
2,320 
 
 
Total long-term liabilities
73,164 
28.7 
56,188 
22.5 
16,976 
 
 
 
 
 
 
Total liabilities
212,002 
83.3 
208,852 
83.6 
3,150 
 
 
 
 
 
 
Minority interests
4,069 
1.6 
4,261 
1.7 
(192) 
 
 
 
 
 
 
Shareholders' equity
 
 
 
 
 
    Common stock
15,541 
6.1 
15,540 
6.2 
    Additional paid-in capital
14,001 
5.5 
13,999 
5.6 
    Retained earnings
7,291 
2.9 
6,171 
2.5 
1,120 
    Net unrealized holding gain on securities
1,933 
0.7 
1,040 
0.4 
893 
    Foreign currency translation adjustments
(115) 
(0.0) 
154 
0.1 
(269) 
    Treasury stock, at cost
(286) 
(0.1) 
(191) 
(0.1) 
(95) 
Total shareholders' equity
38,366 
15.1 
36,715 
14.7 
1,651 
 
 
 
 
 
 
Total liabilities, shareholders' equity
254,438 
100.0 
249,829 
100.0 
4,609 
 
 
 
 
 
 

(Attachment)
2.Consolidated Statements of Income (summary)
(Millions of yen)
     
  Year ended
March 20, 2005
Year ended
March 20, 2004
Change
 
 
% of Total 
 
% of Total 
 
Net sales
309,615 
100 
263,045 
100 
46,570 
Cost of sales
229,498 
74.1 
192,786 
73.3 
36,712 
Gross profit
80,116 
25.9 
70,259 
26.7 
9,858 
 
 
 
 
 
 
Selling, general and administrative expenses
62,589 
20.2 
57,851 
22.0 
4,738 
Operating income
17,527 
5.7 
12,407 
4.7 
5,120 
 
 
 
 
 
 
Non-operating income
 
 
 
 
 
Interest and dividends received
328 
 
230 
 
 
 
 
 
 
 
 
Equity in earnings of associated companies
268 
 
1,032 
 
 
Miscellaneous income
837 
 
1,070 
 
 
Total non-operating income
1,433
0.4 
2,333 
0.9 
(900) 
 
 
 
 
 
 
Non-operating expenses
 
 
 
 
 
Interest expense
1,170 
 
1,506 
 
 
Miscellaneous expenses
376 
 
1,223 
 
 
Total non-operating expenses
1,546 
0.5 
2,730 
1.0 
(1,184) 
 
 
 
 
 
 
Ordinary income
17,414 
5.6 
12,010 
4.6 
5,404 
 
 
 
 
 
 
Extraordinary gains
 
 
 
 
 
Proceeds from sales of fixed assets
1,790 
 
1,055 
 
 
Proceeds from sales of investment securities
1,029 
 
1,883 
 
 
Other extraordinary gains
40 
 
2,542 
 
 
Total extraordinary gains
2,861 
0.9 
5,481 
2.0 
(2,620) 
 
 
 
 
 
 
Extraordinary losses
 
 
 
 
 
Loss from disposal of fixed assets
392 
 
678 
 
 
Loss on devaluation of investment securities
29 
 
33 
 
 
Loss from one-off alteration to pension accounts
3,576 
 
3.576 
 
 
Impairment of goodwill
4,055 
 
 
 
Other extraordinary losses
3,000 
 
2,114 
 
 
Total extraordinary losses
11,053 
3.6 
6,402 
2.4 
4,651 
 
 
 
 
 
 
Income before income taxes and minority interests
9,222 
2.9 
11,089 
4.2 
(1,867) 
 
 
 
 
 
 
Provision for income taxes- current
8,968 
2.9 
4,206 
1.6 
 
Provision for income taxes- deferred
(1,753) 
(0.6) 
796 
0.3 
 
Minority interests
147 
0.0 
265 
0.1 
 
Net income
1,860 
0.6 
5,819 
2,2 
(3,959) 
           

(Attachment)
3.Consolidated Statements of Cash Flows (summary)
(Millions of yen)
   
  Year ended
March 20, 2005
Year ended
March 20, 2004
     
Cash flows from operating activities
 
 
  Income before income taxes and minority interests
9,222 
11,089 
  Depreciation and amortization
6,499 
6,047 
  Provision for employees' retirement benefits, net of payments
3,140 
4,255 
  Gain on sales of investment securities
(1,029) 
(1,883) 
  Loss on devaluation of investment securities
29 
33 
  Impairment of goodwill
4,055 
  Gain on expropriation of property, plant and equipment
(2,420) 
  Interest and dividend income
(328) 
(230) 
  Interest expense
1,170 
1,506 
  (Increase) decrease in trade receivables
(6,859) 
(13,226) 
  (Increase) decrease in inventories
1,440 
(202) 
  Increase (decrease) in trade payables
2,255 
14,253 
  Increase (decrease) in accrued expenses
(3,159) 
1,088 
  Other, net
(4,376) 
3,447 
  Subtotal
12,059 
23,757 
     
  Interest and dividends received
355 
237 
  Interest paid
(1,178) 
(1,512) 
  Income taxes paid
(5,447) 
(3,978) 
Net cash provided by (used in) operating activities
5,789 
18,504 
     
Cash flows from investing activities
 
 
  Purchases of property, plant and equipment and intangible assets
(6,889) 
(6,178) 
  Proceeds from sales of property, plant and equipment
2,775 
1,359 
  Purchases of investment securities
(2,821) 
(1,404) 
  Proceeds from sales of investment securities
938 
3,254 
  Purchases of stock of affiliated companies
(133) 
  Proceeds from sales of stock of affiliated companies
870 
221 
  Proceeds from expropriation of property, plant and equipment
3,555 
3,555 
  Other, net
(548) 
309 
Net cash provided by (used in) investing activities
(2,242) 
1,118 
 
 
 
Cash flows from financing activities
 
 
  Increase (decrease) in short-term debt
(1,901) 
(14,071) 
  Proceeds from long-term debt
5,391 
7,846 
  Repayments of long-term debt
(5,356) 
(12,210) 
  Proceeds from issuance of convertible bonds, net
14,903 
  Redemption of bonds
(14,998) 
  Other, net
(861) 
(441) 
Net cash provided by (used in) financing activities
(2,823) 
(18,877) 
 
 
 
Effect of exchange rate changes on cash and cash equivalents
84 
(31) 
Net increase (decrease) in cash and cash equivalents
808 
714 
Cash and cash equivalents at beginning of year
17,098 
16,267 
Increase due to inclusion of subsidiaries in consolidation
148 
Decrease due to exclusion of subsidiaries from consolidation
(32) 
Cash and cash equivalents at end of year
17,906 
17,098 

(Attachment)
4.Segment Information
(Business Segments)
(Millions of yen)
 
  Year ended March 20, 2005
 
Motion Control 
Robotics Automation 
System Engineering 
Information Technologies 
Other 
Total 
Eliminations & Corporate 
Consolidated 
                 
Net sales
 
 
 
 
 
     
  Sales to third parties
122,944 
105,164 
44,930 
25,412 
11,154 
309,615 
309,615 
  Intersegment sales and transfers
15,918 
2,666 
1,969 
3,460 
21,431 
45,446 
(45,446) 
Total sales
138,863 
107,830 
46,900
28,881 
32,585 
355,062 
(45,446) 
309,615 
Operating costs and expenses
129,741 
100,548 
48,992 
27,381 
30,846 
337,511 
(45,423) 
292,087 
Operating income (loss)
9,121 
7,282 
(2,092) 
1,500 
1,739 
17,550 
(23) 
17,527 
 
 
 
 
 
 
     
  Year ended March 20, 2004
 
Motion Control 
Robotics Automation 
System Engineering 
Information Technologies 
Other 
Total 
Eliminations & Corporate 
Consolidated 
Net sales
 
 
 
 
 
     
  Sales to third parties
105,069 
80,478 
40,373 
24,414 
12,709 
263,045 
263,045 
  Intersegment sales and transfers
11,195 
4,669 
2,007 
2,933 
15,274 
36,079 
(36,079) 
Total sales
116,265 
85,147 
42,380
27,347 
27,983 
299,124 
(36,079) 
263,045 
Operating costs and expenses
112,227 
79,881 
41,421 
26,175 
26,911 
286,618 
(35,980) 
250,637 
Operating income (loss)
4,037 
5,266 
958 
1,172 
1,071 
12,506 
(98) 
12,407 
 
 
 
 
 
 
     
(Geographical Areas)
 
 
 
 
 
     
(Millions of yen)
 
 
 
 
 
     
  Year ended March 20, 2005
 
Japan
North America
Europe
Asia
Total
Eliminations & Corporate
Consolidated
Net sales
 
 
 
 
     
  Sales to third parties
214,809 
41,785 
34,306 
18,633 
309,615 
309,615 
  Intersegment sales and transfers
42,471 
175 
514 
5,178 
48,340 
(48,340) 
Total sales
257,362 
41,960
34,821 
23,811 
357,955 
(48,340) 
309,615 
Operating costs and expenses
247,636 
38,648 
31,719 
21,955 
339,959 
(47,871) 
292,087 
Operating income (loss)
9,725 
3,312 
3,101 
1,856 
17,996 
(468) 
17,527 
 
 
 
 
 
     
  Year ended March 20, 2004
 
Japan
North America
Europe
Asia
Total
Eliminations & Corporate
Consolidated
Net sales
 
 
 
 
     
  Sales to third parties
184,113 
34,915 
31,300 
12,715 
263,045 
263,045 
  Intersegment sales and transfers
34,990 
239 
1,189 
4,127 
40,547 
(40,547) 
Total sales
219,104 
35,154 
32,490 
16,843 
303,593 
(40,547) 
263,045 
Operating costs and expenses
211,705 
33,762 
30,145 
15,650 
291,264 
(40,626) 
250,637 
Operating income (loss)
7,398 
1,392 
2,344 
1,192 
12,328 
79 
12,407 
 
 
 
 
 
     
(Overseas sales)              
(Millions of yen)              
  Year ended March 20, 2005
 
North America
Europe
Asia
Other
Total
Overseas sales
40,725 
34,588 
51,538 
3,402 
130,254 
Consolidated net sales
309,615 
Overseas sales as a percentage
  of consolidated net sales
13% 
11% 
17% 
1% 
42% 
 
 
 
 
   
  Year ended March 20, 2004
 
North America
Europe
Asia
Other
Total
Overseas sales
34,456 
31,233 
30,356 
2,437 
98,483 
Consolidated net sales
263,045 
  Overseas sales as a percentage
  of consolidated net sales
13% 
12% 
11% 
1% 
37% 

Notes:
1) Geographical areas are divided into categories based on their geographical proximity.
2) Major nations or regions included in each geographical area are as follows:
  (1) North America - U.S.A.
  (2) Europe - Germany, Sweden, The United Kingdom
  (3) Asia - Singapore, Korea, The People's Republic of China
3) Overseas sales consist of all sales in countries and regions outside of Japan.


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