(All unconsolidated financial information has been prepared in accordance
with accounting principles generally accepted in Japan.)
Advantest Corporation - Unconsolidated (FY2004)
(Unconsolidated Financial Statements)
(Balance Sheets)
- --------------------------------------------------------------------------------------------------------------------
FY2003 FY2004
(As of March 31, 2004) (As of March 31, 2005)
- --------------------------------------------------------------------------------------------------------------------
Amount Percentage Amount Percentage
(in million yen) (%) (in million yen) (%)
- --------------------------------------------------------------------------------------------------------------------
(Assets)
I Current Assets
1. Cash and deposits 64,469 68,676
2. Trade notes receivables 4,978 12,418
3. Accounts receivable 67,042 43,564
4. Finished goods 8,154 4,371
5. Raw materials 6,134 3,627
6. Work in process 21,258 14,520
7. Supplies 42 67
8. Short-term loans receivable 7,061 6,876
9. Other receivable 1,744 1,168
10. Deferred tax assets 21,776 10,032
11. Other 735 727
12. Allowance for doubtful accounts (10) 0
--------------- ----------------
Total current assets 203,388 73.4 166,050 69.7
--------------- ----------------
II Noncurrent assets
(1) Property, plant and equipment
1. Buildings 43,205 43,495
Accumulated depreciation 27,021 16,183 28,122 15,372
--------------- ---------------
2. Structures 4,081 4,100
Accumulated depreciation 3,038 1,043 3,154 945
--------------- ---------------
3. Machinery and equipment 17,074 17,651
Accumulated depreciation 13,821 3,252 14,350 3,301
--------------- ---------------
4. Vehicles and delivery 2 30
equipment
Accumulated depreciation 1 0 7 22
--------------- ---------------
5. Tools and furniture 13,904 13,753
Accumulated depreciation 12,565 1,338 11,833 1,920
--------------- ---------------
6. Land 18,141 18,141
7. Construction in progress 94 74
--------------- ----------------
Total property, plant and equipment 40,054 14.5 39,778 16.7
--------------- ----------------
- --------------------------------------------------------------------------------------------------------------------
*Accumulated depreciation includes the accumulated impairment losses.
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(All unconsolidated financial information has been prepared in accordance
with accounting principles generally accepted in Japan.)
Advantest Corporation - Unconsolidated (FY2004)
- --------------------------------------------------------------------------------------------------------------------
FY2003 FY2004
(As of March 31, 2004) (As of March 31, 2005)
- --------------------------------------------------------------------------------------------------------------------
Amount Percentage Amount Percentage
(in million yen) (%) (in million yen) (%)
- --------------------------------------------------------------------------------------------------------------------
(2) Intangible fixed assets
1. Patent rights 62 187
2. Leasehold rights 173 173
3. Telephone rights 39 39
4. Utility rights 112 84
5. Software 1,367 914
6. Other 129 38
--------------- ----------------
Total Intangible fixed assets 1,884 0.7 1,437 0.6
--------------- ----------------
(3) Investments and other assets
1. Investment securities 6,713 7,430
2. Investment in associated companies 16,347 16,390
3. Long-term loans receivable 28 22
4. Long-term loans to associated companies 1,380 1,050
5. Long-term prepaid expenses 196 588
6. Deferred tax assets 5,707 4,137
7. Other 1,345 1,223
--------------- ----------------
Total Investment and other assets 31,718 11.4 30,842 13.0
--------------- ----------------
Total noncurrent assets 73,658 26.6 72,058 30.3
--------------- ----------------
Total assets 277,047 100.0 238,109 100.0
--------------- ----------------
(Liabilities)
I Current liabilities
1. Trade accounts payable 38,444 22,642
2. Current installments of bonds 4,500 20,000
3. Other accounts payable 1,173 2,037
4. Accrued expenses 6,647 10,230
5. Income tax payable 32 4,116
6. Advance received 196 284
7. Deposits received 3,293 5,660
8. Allowance for product warranty 1,771 4,345
9. Other 444 178
--------------- ----------------
Total current liabilities 56,504 20.4 69,495 29.2
--------------- ----------------
- --------------------------------------------------------------------------------------------------------------------
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(All unconsolidated financial information has been prepared in accordance
with accounting principles generally accepted in Japan.)
Advantest Corporation - Unconsolidated (FY2004)
- --------------------------------------------------------------------------------------------------------------------
FY2003 FY2004
(As of March 31, 2004) (As of March 31, 2005)
- --------------------------------------------------------------------------------------------------------------------
Amount Percentage Amount Percentage
(in million yen) (%) (in million yen) (%)
- --------------------------------------------------------------------------------------------------------------------
II Noncurrent liabilities
1. Bonds 20,000 -
2. Long-term borrowings 82 40
3. Allowance for retirement 9,386 7,100
benefits
4. Allowance for officers' 1,261 1,509
retirement benefits
5. Other 920 888
--------------- ----------------
Total noncurrent liabilities 31,651 11.4 9,539 4.0
--------------- ----------------
Total liabilities 88,155 31.8 79,034 33.2
--------------- ----------------
(Stockholders' equity)
I Common stock 32,362 11.7 32,362 13.6
II Capital surplus
1. Additional paid-in capital 32,973 32,973 32,973 32,973
----------------------------- ------------------------------
Total capital surplus 32,973 11.9 32,973 13.8
III Retained earnings
1. Legal reserve 3,083 3,083
2. Voluntary reserve
(1) Reserve for losses in foreign
investments 27,062 27,062
(2) General reserve 92,880 119,942 99,880 126,942
--------------- ---------------
3. Unappropriated earnings 12,647 28,538
at end of year
--------------- ----------------
Total retained earnings 135,672 49.0 158,563 66.6
IV Net unrealized holding
gains on other securities 793 0.3 1,294 0.5
V Treasury stock (12,910) (4.7) (66,119) (27.7)
--------------- ----------------
Total stockholders' equity 188,891 68.2 159,074 66.8
--------------- ----------------
Total liabilities and stockholders' equity 277,047 100.0 238,109 100.0
--------------- ----------------
- --------------------------------------------------------------------------------------------------------------------
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(All unconsolidated financial information has been prepared in accordance
with accounting principles generally accepted in Japan.)
Advantest Corporation - Unconsolidated (FY2004)
(Statements of Income)
- ----------------------------------------------------------------------------------------------------------------------
FY2003 FY2004
(April 1, 2003 through (April 1, 2004 through
March 31, 2004) March 31, 2005)
- ----------------------------------------------------------------------------------------------------------------------
Amount Percentage Amount Percentage
(in million yen) (%) (in million yen) (%)
- ----------------------------------------------------------------------------------------------------------------------
I Net sales
1. Net product sales 150,558 150,558 100.0 203,315 203,315 100.0
-------------- ---------------
II Cost of sales
1. Inventory of finished goods at 5,741 8,154
beginning of year
2. Cost of manufactured goods 89,247 104,942
-------------- ---------------
Total 94,988 113,097
3. Transfers to other accounts 825 1,658
4. Inventory of finished goods at 8,154 4,371
end of year
-------------- ---------------
Balance of cost of sales 86,008 86,008 57.1 107,067 107,067 52.7
--------------------------- ----------------------------
Gross profit 64,549 42.9 96,247 47.3
III Selling, general and 40,772 27.1 54,337 26.7
administrative expenses -------------- --------------
Operating income (loss) 23,776 15.8 41,910 20.6
IV Non-operating income
1. Interest income 128 116
2. Dividends income 1,486 1,824
3. Lease income 1,973 2,015
4. Miscellaneous income 479 4,067 2.7 666 4,622 2.3
-------------- ---------------
V Non-operating expenses
1. Interest expenses 31 29
2. Bond interests 434 409
3. Expenses related to leased 1,783 1,516
equipment
4. Miscellaneous expenses 1,561 3,811 2.5 1,211 3,167 1.6
--------------------------- ----------------------------
Ordinary income (loss) 24,033 16.0 43,365 21.3
VI Extraordinary gain
1. Gain on return of substitutional
portion of the Employees' Pension Fund - - - 2,503 2,503 1.3
-------------- ---------------
VII Extraordinary loss
1. Impairment loss on long-lived assets 2,996 2,996 2.0 - - -
--------------------------- ----------------------------
Income (loss) before income taxes 21,036 14.0 45,868 22.6
Income taxes 86 4,141
Income taxes - deferred 8,993 9,079 6.0 13,305 17,446 8.6
--------------------------- --------------
Net income (loss) 11,957 8.0 28,421 14.0
Retained earnings brought forward 2,180 3,020
Loss from disposition of 16 446
treasury stock
Interim dividend 1,473 2,457
-------------- --------------
Unappropriated earnings at end 12,647 28,538
of year
-------------- --------------
- ----------------------------------------------------------------------------------------------------------------------
- 26 -
(All unconsolidated financial information has been prepared in accordance
with accounting principles generally accepted in Japan.)
Advantest Corporation - Unconsolidated (FY2004)
(Proposed Appropriation of Retained Earnings)
- --------------------------------------------------------------------------------------------------------
FY2003 FY2004
(April 1, 2003 through (April 1, 2004 through
March 31, 2004) March 31, 2005)
- --------------------------------------------------------------------------------------------------------
Amount Percentage Amount Percentage
(in million yen) (%) (in million yen) (%)
- --------------------------------------------------------------------------------------------------------
I Unappropriated earnings at 12,647 28,538
end of year
II Appropriation of earnings
1. Dividends 2,456 2,310
((Y)25 per share) ((Y)25 per share)
2. Director's bonus 150 180
3. Corporate auditor's 20 23
bonus
4. General reserve 7,000 9,626 22,000 24,513
---------------------------------------------------------------------
III Unappropriated earnings
carried forward 3,020 4,024
------------------ -----------------
- --------------------------------------------------------------------------------------------------------
(Note) Interim dividends paid were as follows:
FY2003 FY2004
Date of dividend payment December 10, 2003 December 1, 2004
Interim dividend amount (Y)1,473 million (Y)2,457 million
((Y)15 per share) ((Y)25 per share)
(Important Accounting Policies)
There were no changes in accounting policies.
(Cautionary Statement Regarding the Presentation of Notes)
In order to enable timely disclosure of business results, certain notes
have been omitted. These notes will be presented as a "Supplement to the
Earnings Release" as soon as they become available.
- 27 -