PIONEER CORPORATION | ||||
(Registrant) | ||||
Date: May 11, 2006 |
||||
By | /s/ Tamihiko Sudo | |||
Tamihiko Sudo | ||||
President and Representative Director |
1. | The announcement released by the Company to the press in Japan dated May 11, 2006, concerning partial amendments to its consolidated business results for fiscal 2006, ended March 31, 2006, which were announced on April 27, 2006. |
Note: | The U.S. dollar amounts in this release represent translation of Japanese yen, for convenience only, at the rate of ¥117=US$1.00, the approximate rate prevailing on March 31, 2006. |
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(In millions of yen) | ||||||||||||
March 31 | Increase/ | |||||||||||
2006 | 2005 | (Decrease) | ||||||||||
ASSETS |
||||||||||||
Current assets: |
||||||||||||
Cash and cash equivalents |
¥ | 121,680 | ¥ | 116,681 | ¥ | 4,999 | ||||||
Trade receivables, less allowance |
107,563 | * | 132,176 | (24,613 | )* | |||||||
Inventories |
104,226 | 109,015 | (4,789 | ) | ||||||||
Assets held for sale |
25,577 | | 25,577 | |||||||||
Others |
69,626 | 69,024 | 602 | |||||||||
Total current assets |
428,672 | * | 426,896 | 1,776 | * | |||||||
Investments and long-term receivables |
29,772 | 28,828 | 944 | |||||||||
Property, plant and equipment, less depreciation |
160,231 | 210,145 | (49,914 | ) | ||||||||
Intangible assets |
20,576 | 24,052 | (3,476 | ) | ||||||||
Other assets |
38,795 | 35,246 | 3,549 | |||||||||
Total assets |
¥ | 678,046 | * | ¥ | 725,167 | ¥ | (47,121 | )* | ||||
LIABILITIES AND SHAREHOLDERS EQUITY |
||||||||||||
Current liabilities: |
||||||||||||
Short-term borrowings and current portion
of long-term debt |
¥ | 30,370 | ¥ | 52,428 | ¥ | (22,058 | ) | |||||
Trade payables |
102,082 | 96,335 | 5,747 | |||||||||
Liabilities held for sale |
17,863 | | 17,863 | |||||||||
Others |
121,977 | * | 102,407 | 19,570 | * | |||||||
Total current liabilities |
272,292 | * | 251,170 | 21,122 | * | |||||||
Long-term debt |
92,970 | 81,219 | 11,751 | |||||||||
Other long-term liabilities |
25,425 | 42,371 | (16,946 | ) | ||||||||
Minority interests |
14,109 | 18,168 | (4,059 | ) | ||||||||
Shareholders equity: |
||||||||||||
Common stock |
49,049 | 49,049 | | |||||||||
Capital surplus |
82,910 | 82,735 | 175 | |||||||||
Retained earnings |
173,826 | 260,556 | (86,730 | ) | ||||||||
Accumulated other comprehensive income (loss) |
(20,092 | ) | (47,669 | ) | 27,577 | |||||||
Treasury stock |
(12,443 | ) | (12,432 | ) | (11 | ) | ||||||
Total shareholders equity |
273,250 | 332,239 | (58,989 | ) | ||||||||
Total liabilities and shareholders equity |
¥ | 678,046 | * | ¥ | 725,167 | ¥ | (47,121 | )* | ||||
Breakdown of accumulated other comprehensive income (loss): |
||||||||||||
Minimum pension liability adjustments |
¥ | (3,680 | ) | ¥ | (11,186 | ) | ¥ | 7,506 | ||||
Net unrealized holding gain on securities |
10,352 | 8,250 | 2,102 | |||||||||
Cumulative foreign currency translation adjustments |
(26,764 | ) | (44,733 | ) | 17,969 | |||||||
Total accumulated other comprehensive income (loss) |
¥ | (20,092 | ) | ¥ | (47,669 | ) | ¥ | 27,577 | ||||
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(In millions of yen) | ||||||||
Year ended March 31 | ||||||||
2006 | 2005 | |||||||
I. Operating activities: |
||||||||
Net loss |
¥ | (84,986 | ) | ¥ | (8,789 | ) | ||
Depreciation and amortization |
46,703 | 46,990 | ||||||
Decrease (increase) in trade receivables |
19,329 | * | (12,322 | ) | ||||
Decrease in inventories |
9,530 | 6,317 | ||||||
Increase in trade payables |
13,941 | 4,405 | ||||||
Increase (decrease) in other accrued liabilities |
24,114 | * | (10,371 | ) | ||||
Other |
39,698 | (6,284 | ) | |||||
Net cash provided by operating activities |
68,329 | 19,946 | ||||||
II. Investing activities: |
||||||||
Payment for purchase of fixed assets |
(40,325 | ) | (63,866 | ) | ||||
Payment for purchase of subsidiary |
| (34,015 | ) | |||||
Other |
10,566 | 4,365 | ||||||
Net cash used in investing activities |
(29,759 | ) | (93,516 | ) | ||||
III. Financing activities: |
||||||||
Increase (decrease) in short-term borrowings
and long-term debt |
(31,204 | ) | 4,549 | |||||
Dividends paid |
(3,499 | ) | (4,386 | ) | ||||
Purchase and sales of treasury stock, net |
(11 | ) | (1,967 | ) | ||||
Decrease in capital-lease obligations |
(3,535 | ) | (1,770 | ) | ||||
Other |
(302 | ) | (445 | ) | ||||
Net cash used in financing activities |
(38,551 | ) | (4,019 | ) | ||||
Effect of exchange rate changes on cash
and cash equivalents |
4,980 | 1,851 | ||||||
Net increase (decrease) in cash and cash equivalents |
4,999 | (75,738 | ) | |||||
Cash and cash equivalents, beginning of year |
116,681 | 192,419 | ||||||
Cash and cash equivalents, end of year |
¥ | 121,680 | ¥ | 116,681 | ||||
Free cash flow (I + II) |
¥ | 38,570 | ¥ | (73,570 | ) | |||
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