Consolidated Statements of Income and Retained Earnings
NEC CORPORATION AND CONSOLIDATED SUBSIDIARIES
For the years ended March 31, 1995, 1996 and 1997
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In thousands of
In millions of yen U.S. dollars (Note 3)
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1995 1996 1997 1997
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Sales and other income:
Net sales.................................................Y 3,769,357 Y 4,397,192 Y 4,948,437 $39,906,750
Interest, gain on securities sold, dividends and other
(Notes 5 and 14)........................................ 60,181 30,080 116,435 938,992
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3,829,538 4,427,272 5,064,872 40,845,742
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Costs and expenses:
Cost of sales............................................. 2,557,536 2,980,718 3,528,326 28,454,242
Selling, general and administrative (Notes 12 and 13)..... 1,056,052 1,168,672 1,236,330 9,970,403
Interest.................................................. 81,865 69,793 60,463 487,605
Other (Note 14)........................................... 59,361 56,771 118,531 955,895
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3,754,814 4,275,954 4,943,650 39,868,145
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Income before income taxes................................. 74,724 151,318 121,222 977,597
Income taxes (Note 9)...................................... 51,448 76,376 24,900 200,806
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Income before minority interest and equity
in earnings of affiliated companies...................... 23,276 74,942 96,322 776,791
Minority interest in consolidated subsidiary companies..... (214) 4,029 5,018 40,468
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Income before equity in earnings of affiliated companies... 23,490 70,913 91,304 736,323
Equity in earnings of affiliated companies (Note 4)........ 11,826 6,253 277 2,233
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Net income................................................. 35,316 77,166 91,581 738,556
Retained earnings:
Balance at beginning of year.............................. 306,467 324,704 382,901 3,087,911
Cash dividends applicable to earnings for the year........ (15,408) (17,000) (17,118) (138,048)
Transfer to legal reserve................................. (1,671) (1,969) (2,159) (17,411)
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Balance at end of year.................................... Y 324,704 Y 382,901 Y 455,205 $ 3,671,008
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Yen U.S. dollars (Note 3)
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1995 1996 1997 1997
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Net income per share of common stock....................... Y 22.92 Y 45.21 Y 51.78 $0.418
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Cash dividends per share................................... Y 10.00 Y 11.00 Y 11.00 $0.089
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The accompanying notes are an integral part of these statements.
