Consolidated Statements of Income and Retained Earnings
NEC CORPORATION AND CONSOLIDATED SUBSIDIARIES
For the years ended March 31, 1993, 1994 and 1995
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In thousands of
In millions of yen U.S. dollars (Note 2)
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1993 1994 1995 1995
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Sales and other income:
Net sales ..................................................Y 3,514,979 Y 3,579,787 Y 3,769,357 $43,325,943
Interest, gain on securities sold,
dividends and other (Note 4)................................ 68,573 72,714 60,181 691,736
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3,583,552 3,652,501 3,829,538 44,017,679
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Costs and expenses:
Cost of sales (Note 11) .................................... 2,394,247 2,463,607 2,557,536 29,396,966
Selling, general and administrative (Note 11) .............. 1,093,596 1,038,699 1,056,052 12,138,529
Interest ................................................... 98,891 88,009 81,865 940,977
Other (Note 12) ............................................ 34,510 37,076 59,361 682,310
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3,621,244 3,627,391 3,754,814 43,158,782
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Income (loss) before income taxes ........................... (37,692) 25,110 74,724 858,897
Income taxes (Note 8) ....................................... 22,019 25,531 51,448 591,357
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Income (loss) before minority interest, equity in earnings of
affiliated companies, extraordinary credit and cumulative
effect of change in accounting for income taxes ........... (59,711) (421) 23,276 267,540
Minority interest in consolidated subsidiary companies ...... (5,133) (1,718) (214) (2,460)
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Income (loss) before equity in earnings of affiliated
companies, extraordinary credit and cumulative
effect of change in accounting for income taxes ........... (54,578) 1,297 23,490 270,000
Equity in earnings of affiliated companies (Note 3) ......... 7,833 6,912 11,826 135,931
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Income (loss) before extraordinary credit and cumulative
effect of change in accounting for income taxes ........... (46,745) 8,209 35,316 405,931
Extraordinary credit禅ax benefit resulting from
utilization of loss carryforwards (Note 8) ................ 1,585 ----- ----- -----
Cumulative effect of change in accounting for
income taxes (Note 8) ..................................... ----- (1,603) ----- -----
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Net income (loss) ........................................... (45,160) 6,606 35,316 405,931
Retained earnings:
Balance at beginning of year ............................... 337,476 270,262 258,211 2,967,942
Cash dividends applicable to earnings for the year ......... (15,394) (15,399) (15,408) (177,103)
Transfer to legal reserve .................................. (1,658) (1,713) (1,671) (19,207)
Reversal of (appropriation for) special allowances,
net of taxes ............................................... (5,002) (1,545) 2,162 24,851
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Balance at end of year .....................................Y 270,262 Y 258,211 Y 278,610 $ 3,202,414
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yen U.S. dollars (Note 2)
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1993 1994 1995 1995
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Per share of common stock:
Income (loss) before extraordinary credit and cumulative
effect of change in accounting for income taxes .......... Y (30.37) Y 05.33 Y 22.92 $ 0.263
Extraordinary credit ....................................... 1.03 ----- ----- -----
Cumulative effect of change in accounting for
income taxes ............................................. ----- (1.04) ----- -----
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Net income (loss) .......................................... Y (29.34) Y 4.29 Y 22.92 $ 0.263
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Cash dividends per share .................................... Y 10.00 Y 10.00 Y 10.00 $ 0.115
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The accompanying notes are an integral part of these statements.
