The statements are subject to year-end adjustments and audit. In thousands of
In millions of yen U.S. dollars
--------------------------------------- -----------------------
1994 1995 1996 1996
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Sales and other income:
Net sales ............................................... Y1,741,490 Y1,921,737 Y2,242,541 $ 20,022,688
Interest, gain on securities sold, dividends and other .. 24,291 15,758 35,170 314,017
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1,765,781 1,937,495 2,277,711 20,336,705
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Costs and expenses:
Cost of sales .......................................... 1,151,215 1,267,220 1,547,410 13,816,161
Selling, general and administrative .................... 520,536 549,806 602,760 5,381,786
Interest ............................................... 40,075 35,308 30,848 275,428
Other .................................................. 23,271 35,477 35,747 319,169
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1,735,097 1,887,811 2,216,765 19,792,544
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Income before income taxes
.............................. 30,684 49,684 60,946 544,161
Income taxes
.............................................. 24,121 34,180 29,862 266,625
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Income before minority interests,
equity in earnings of affiliated companies
and cumulative effect of accounting change
........... 6,563 15,504 31,084 277,536
Minority interest in consolidated
subsidiary companies
.................................... (294) 158 597 5,330
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Income before equity in earnings of
affiliated companies and cumulative effect
of accounting change
.................................... 6,857 15,346 30,487 272,206
Equity in earnings of affiliated companies
............ 4,485 4,891 724 6,464
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Net income
................................................. 11,342 20,237 31,211 278,670
Retained earnings:
Balance at beginning of year ........................... 306,467 324,704 382,901 3,418,759
Cash dividends ......................................... (7,702) (7,723) (8,508) (75,964)
Transfer to legal reserve .............................. (873) (907) (905) (8,081)
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Balance at end of period Y 309,234 Y 336,311 Y 404,699 $ 3,613,384
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Note: Effective April 1, 1993, the Company adopted SFAS No. 109, "Accounting for Income Taxes," on a prospective basis without restating the prior years' financial statements.
