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| Oliver Corporation Non-Consolidated Balance Sheet October 20, 2004 |
| ASSETS |
Thousands of yen |
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| Current assets: |
2003 |
2004 |
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| Cash and Cash equivalents | 5,342407 | 4,944,817 | ||
| Trade notes receivable | 2,250,933 | 2,229,397 | ||
| Trade accounts receivable | 3,075,600 | 3,150,906 | ||
| Inventories | 918,579 | 874,885 | ||
| Other | 367,979 | 362,527 | ||
| Less, allowance for doubtful accounts | (26,000) | (22,000) | ||
| Total current assets | 11,939,501 | 48.3% | 11,540,534 | 46.5% |
| Fixed
assets Tangible fixed assets: |
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| Buildings | 2,796,755 | 2,642,333 | ||
| Land | 2,785,613 | 2,785,613 | ||
| Other | 181,058 | 173,321 | ||
| Total tangible fixed assets | 5,763,427 | 23.3% | 5,601,269 | 22.6% |
| Intangible fixed assets | 22,019 | 0.1% | 22,138 | 0.1% |
| Investments and other assets: | ||||
| Investment securities | 5,350,545 | 5,565,690 | ||
| Other | 1,706,479 | 2,178,977 | ||
| Less, allowance for doubtful accounts | (68,270) | (82,353) | ||
| Total investments and other assets | 6,988,754 | 28.3% | 7,662,314 | 30.8% |
| Total fixed assets | 12,774,200 | 51.7% | 13,285,722 | 53.5% |
| Total assets | 24,713,702 | 100.0% | 24,826,257 | 100.0% |
| LIABILITIES |
Thousands of yen |
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| Current liabilities: |
2003 |
2004 |
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| Trade notes payable | 3,370,524 | 3,437,954 | ||
| Trade accounts payable | 1,254,953 | 1,241,394 | ||
| Short-term loans payable | 1,800,000 | 1,700,000 | ||
| Current portion of long-term loans payable | 267,600 | 33,600 | ||
| Income taxes payable | 626,091 | 312,601 | ||
| Provision for bonuses | 240,000 | 252,200 | ||
| Other | 507,331 | 542,548 | ||
| Total current liabilities | 8,066,500 | 32.6% | 7,520,299 | 30.3% |
| Non-current liabilities | ||||
| Long-term loans payable | 41,200 | 207,600 | ||
| Provision for severance benefits | 138,910 | 113,841 | ||
| Other | 10,690 | 74,151 | ||
| Total non-current liabilities | 190,800 | 0.8% | 395,592 | 1.6% |
| Total liabilities | 8,257,300 | 33.4% | 7,915,891 | 31.9% |
| SHAREHOLDERS' EQUITY |
Thousands of yen |
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| Capital stock | 6,362,498 | 25.7% | 6,362,498 | 25.6% |
| Capital reserve | 5,401,276 | 21.9% | 5,401,276 | 21.8% |
| Retained earnings | 4,197,213 | 17.0% | 4,614,515 | 18.6% |
| Unrealized holding gains (losses) on securities | 704,760 | 2.9% | 785,321 | 3.1% |
| Treasury stock, at cost | (209,348) | (0.9%) | (253,246) | (1.0%) |
| Total shareholders' equity | 16,456,401 | 66.6% | 16,910,365 | 68.1% |
| Total liabilities and shareholders' equity | 24,713,702 | 100.0% | 24,826,257 | 100.0% |
| Oliver
Corporation Non-Consolidated Statement of Operations For the Years Ended October 20, 2004 |
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|
Thousands of yen |
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| Sales | 18,367,810 | 100.0% | 18,416,183 | 100.0% |
| Cost of sales | 13,198,487 | 71.8% | 13,110,650 | 71.2% |
| Gross income on sales | 5,169,323 | 28.2% | 5,305,532 | 28.8% |
| Selling, general and administrative expenses | 3,797,442 | 20.7% | 3,758,989 | 20.4% |
| Operating income | 1,371,880 | 7.5% | 1,546,542 | 8.4% |
| Non-operating income: | ||||
| Interest income | 1,111 | 553 | ||
| Interest on securities | 4,502 | 5,384 | ||
| Other | 101,721 | 117,493 | ||
| Total non-operating income | 107,336 | 0.6% | 123,431 | 0.6% |
| Non-operating expenses: | ||||
| Interest and discounted charges | 53,104 | 42,984 | ||
| Other | 59,993 | 18,213 | ||
| Total non-operating expenses | 113,097 | 0.6% | 61,198 | 0.3% |
| Ordinary Income | 1,366,119 | 7.5% | 1,608,776 | 8.7% |
| Extraordinary gains | 39,880 | 0.2% | 31,798 | 0.2% |
| Extraordinary losses | 122,475 | 0.7% | 27,135 | 0.1% |
| Income before income taxes | 1,283,523 | 7.0% | 1,613,438 | 8.8% |
| Income taxes | 714,274 | 3.9% | 664,328 | 3.6% |
| Deferred tax | (98,293) | (0.5%) | 48,227 | 0.3% |
| Net income | 667,541 | 3.6% | 900,882 | 4.9% |
