Results of Operations Efficiency Per Share Data Profitability Capital Investment and R&D Expenditure Safety Stock Information

Transcription

1 Results of Operations Net Sales 4 Net Income 4 Industry Segments 5 Geographic Segments 6 Sales by Market 6 Profitability Return on Sales 7 Return on Equity 7 Cost Composition 8 Operating Income to Net Sales 8 Safety Interest Expense 9 Interest Coverage 9 Stockholders Equity to Total Assets 1 Current Ratio 1 Total Debt and Stockholders Equity 11 Debt/Equity Ratio 11 Efficiency Asset Turnover 12 Fixed Asset Turnover 12 Per Share Data Net Income per Share 13 Stockholders Equity per Share 13 Capital Investment and R&D Expenditure Capital Investment 14 Retained Cash Flow and Depreciation 14 R&D Expenditure 15 R&D Expenditure to Net Sales 15 Stock Information Common Stock Price (Tokyo Stock Exchange) 16 PER (Price Earnings Ratio) 16 PBR (Price Book Value Ratio) 17 PCFR (Price Cash Flow Ratio) 17

2 RESULTS OF OPERATIONS Net Sales Net Income 8, 7, 2 6, 5, 15 4, 1 3, 2, 5 1, Net Sales Net Income ,717 6,41 7,78 7,737 7,766 7,536 7,4 7,592 8,124 8, RESULTS OF OPERATIONS 4

3 Industry Segments (Million ) Sales Information Systems & Electronics 2,688,976 3,25,63 3,289,337 28% 29% 3% Power & Industrial Systems 2,411,117 2,523,58 2,719,775 25% 25% 25% Consumer Products 923, ,751 99,895 1% 9% 9% Materials 1,3,282 1,372,263 1,413,174 14% 13% 13% Services & Other 2,225,161 2,472,154 2,424,41 23% 24% 23% Subtotal 9,549,7 1,345,739 1,837,591 1% 1% 1% Eliminations (1,956,84%) (2,221,929%) (2,314,491) Total 7,592,266 8,123,81 8,523,1 Operating Income Information Systems & Electronics 143, ,849 13,682 (Loss) 43% 47% 31% Power & Industrial Systems 117, ,8 116,67 35% 29% 35% Consumer Products (27,589%) (14,786%) 7,372 (8%) (4%) 2% Materials 62,461 75,193 63,532 19% 19% 19% Services & Other 36,54 36,974 41,1 11% 9% 13% Subtotal 331, ,31 331,753 1% 1% 1% Eliminations & Corporate items (27,389%) (63,728%) (34,587) Total 34,59 332, ,166 Notes: 1. Net sales by segment include intersegment transactions. 2. This information is disclosed in accordance with a ministerial ordinance under the Securities and Exchange Law of Japan. 3. From fiscal 1995, the Ministry of Finance is requiring the disclosure of Eliminations & Corporate items for Operating Income as part of the Industry Segments and Geographic Segments. Figures for the previous fiscal years have been adjusted to reflect the change. RESULTS OF OPERATIONS 5

4 Geographic Segments (Million ) Sales Japan Outside customer sales 6,349,766 6,656,251 6,948,21 76% 73% 72% Intersegment transactions 698, , ,496 8% 9% 9% Total 7,48,548 7,497,664 7,841,517 84% 82% 81% Other Areas Outside customer sales 1,242,5 1,467,559 1,575,79 15% 16% 16% Intersegment transactions 133,83 212, ,751 1% 2% 3% Total 1,376,33 1,68,533 1,83,83 16% 18% 19% Subtotal 8,424,851 9,178,197 9,672,347 1% 1% 1% Eliminations (832,585%) (1,54,387%) (1,149,247%) Total 7,592,266 8,123,81 8,523,1 Operating Income Japan 32, , ,998 88% 9% 94% Other Areas 42,228 41,615 21,597 12% 1% 6% Subtotal 345, ,463 34,595 1% 1% 1% Eliminations & Corporate items (4,579%) (78,881%) (43,429%) Total 34,59 332, ,166 Sales by Market (Million ) Domestic sales 5,768,963 6,2,922 6,7,552 76% 74% 71% Overseas sales 1,823,33 2,12,888 2,452,548 24% 26% 29% Total 7,592,266 8,123,81 8,523,1 Note: As for Eliminations & Corporate items for Operating Income as part of the Geographic Segments, see note 3 on page 5. RESULTS OF OPERATIONS 6

5 PROFITABILITY Return on Sales (%) Return on Equity (%) Net Income Return on Sales Return on Equity (%) (%) PROFITABILITY 7

6 Cost Composition 8, 7, 6, Operating Income Selling, General and Administrative Expenses Cost of Sales Operating Income to Net Sales (%) 8 7 5, 6 4, 5 3, 2, 4 1, Net Sales 5,717 6,41 7,78 7,737 7,766 7,536 7,4 7,592 8,124 8,523 Cost of Sales 4,123 4,552 5,24 5,417 5,489 5,438 5,312 5,394 5,829 6,251 Cost of Sales to Net Sales (%) Selling, General and Administrative (SG&A) Expenses 1,275 1,416 1,553 1,813 1,925 1,876 1,875 1,894 1,962 1,975 SG&A Expenses to Net Sales (%) Operating Income Operating Income to Net Sales (%) Note: Figures may not agree due to rounding. PROFITABILITY 8

7 SAFETY Interest Expense Interest Coverage (Times) Interest Expense Interest Coverage Note: Interest coverage= (Times) Income before income taxes + Interest expense Interest expense SAFETY 9

8 Stockholders Equity to Total Assets (%) Current Ratio (%) Current Assets 4,33 4,87 5,391 5,751 5,85 5,675 5,796 5,976 6,442 6,348 Current Liabilities 2,851 3,184 3,315 3,694 3,742 3,555 3,576 3,69 3,965 3,936 Stockholders Equity 2,19 2,282 2,561 2,811 2,918 2,94 2,959 3,33 3,2 3,284 Stockholders Equity to Total Assets (%) Current Ratio (%) SAFETY 1

9 Total Debt and Stockholders Equity Debt / Equity Ratio (Times) 3, Stockholders Equity 2,5.8 2, Total Debt (Long-term and Short-term).7 1,5 1, Short-term Debt Long-term Debt Total Debt Stockholders Equity Debt/Equity Ratio , ,33 1, ,25 1,12 1,23 1,245 1,316 1,385 1,715 1,86 1,996 1,918 1,927 1,919 2,237 2,426 2,19 2,282 2,561 2,811 2,918 2,94 2,959 3,33 3,2 3,284 (Times) SAFETY 11

10 EFFICIENCY Asset Turnover (Times) Fixed Asset Turnover (Times) Total Assets 6,188 6,938 7,85 8,526 8,858 8,748 8,931 9,142 9,83 9,965 Fixed Assets 1,354 1,474 1,79 1,986 2,169 2,24 2,293 2,311 2,422 2,559 Asset Turnover (Times) Fixed Asset Turnover (Times) Note: Fixed Assets represents the net carrying amounts of property, plant and equipment. EFFICIENCY 12

11 PER SHARE DATA Net Income per Share ( ) Stockholders Equity per Share ( ) Net Income per Share ( ) Stockholders Equity per Share ( ) Cash Dividends per Share ( ) Notes: 1. Net income per share is based on common stock and common stock equivalents of Hitachi, Ltd. Stockholders equity per share is based on common stock of Hitachi, Ltd. 2. Figures for net income per share are after retroactive adjustment for the free distribution. See note 4 on page 1. PER SHARE DATA 13

12 CAPITAL INVESTMENT AND R&D EXPENDITURE Capital Investment 7 Retained Cash Flow and Depreciation Retained Cash Flow 5 5 Depreciation Capital Investment (Property, plant and equipment) Retained Cash Flow Depreciation (Property, plant and equipment) Note: Retained cash flow = Net income + Depreciation + Minority interests - Dividends paid - Gain on equity method shareholdings + Dividend received from equity method shareholdings CAPITAL INVESTMENT AND R&D EXPENDITURE 14

13 R&D Expenditure R&D Expenditure to Net Sales (%) Net Sales 5,717 6,41 7,78 7,737 7,766 7,536 7,4 7,592 8,124 8,523 R&D Expenditure R&D Expenditure to Net Sales (%) CAPITAL INVESTMENT AND R&D EXPENDITURE 15

14 STOCK INFORMATION Common Stock Price (Tokyo Stock Exchange) ( ) ( ) PER (Price Earnings Ratio) (Times) 3,5 35, 4 3, 3, 2,5 Adjusted Average for 225 Stocks at Fiscal Year-End (right scale) 25, 3 2, 2, 1,5 15, 2 1, 1, 5 Hitachi, Ltd. s Common Stock Price at Fiscal Year-End (left scale) 5, Price Range 1,67* ( ) High 1,61 2,4 1,74 1,72 1, ,12 1,14 1,18 1,49* ( ) Low 844 1,35 1,25 1, Price at Fiscal Year-End ( ) 1,41 1,51 1,59 1, ,4 1,1 Net Income per Share ( ) PER (Times) Notes: 1. Figures marked * are the highest and lowest prices during the ex rights period accompanying the Company s free distribution of new shares. 2. Common stock prices are those of Hitachi, Ltd. 3. Net income per share is based on common stock and common stock equivalents of Hitachi, Ltd. STOCK INFORMATION 16

15 PBR (Price Book Value Ratio) (Times) PCFR (Price Cash Flow Ratio) (Times) Stockholders Equity per Share ( ) Retained Cash Flow per Share ( ) Price at Fiscal Year-End ( ) 1,41 1,51 1,59 1, ,4 1,1 PBR (Times) PCFR (Times) Note: Stockholders equity per share is based on common stock of Hitachi, Ltd. Retained cash flow per share is based on common stock and common stock equivalents of Hitachi, Ltd. STOCK INFORMATION 17