Satisfaction, Speed and Sensibility energy & electric systems ed&c • drive systems electronics retail support equipment & systems 2000 2000 3 3 31 2000 1999 2000 ¥851,830 4,143 (948) (4,092) (7,423) ¥852,060 (4,127) (6,044) (11,665) (17,388) $8,036,132 39,085 (8,943) (38,604) (70,028) 153,945 937,233 157,425 994,761 1,452,311 8,841,821 ¥(10.38) ¥(24.31) $(0.098) 1 1 1923 106 80 21 2000 6 S21 1 S21 2 6 8 12 16 20 24 26 28 30 31 48 50 52 53 1 2 4 6 3 5 IC 8,800 60 3 2 2000 3 1999 6 21 S21 IC IT 8,518 IC 100 74 2001 3 2000 F U J I E L E C T R I C 1 Taking the Offensive T O O U R S H A R E H O L D E R S Q S21 S21 A S21 Speed * *S21 S Satisfaction Sensibility B to B B to B Most Valuable Service Provider Most Valuable Components Provider 4 5 IT 7 F U J I E L E C T R I C 2 Seven Challenging Program 2003 3 2006 3 2005 2003 ROE10% 2006 Q 3 1 3 2002 3 3 2 1 2,000 300 600 ROE15% Seven Challenging Program A Seven Challenging Program 7 Q A ~Most Valuable Service Provider ~ RDF 2003 3 1,200 2006 3 ~Most Valuable Service Provider 1,500 ~ IT F U J I E L E C T R I C 3 T O O U R S H A R E H O L D E R S Solution_MEISTER SE 2003 3 1,400 2006 3 ~Most Valuable Service Provider 2003 3 700 2006 3 2,000 ~ 1,000 ~Most Valuable Components Provider ~ Most Valuable Components Provider IC IC PC AV Audio Visual F U J I E L E C T R I C 4 2003 Q 3 2,000 2006 3 2,500 Seven Challenging Program A Seven Challenging Program 2001 2006 3 3 2000 ROE4% 2003 3 ROE 10% ROE 15% F U J I E L E C T R I C 5 1999 4 4 Energy & Electric Systems ◆ F U J I E L E C T R I C 6 ED&C • Drive Systems ◆ 3 5 Electronics ◆ Retail Support Equipment & Systems ◆ F U J I E L E C T R I C 7 Energy & Electric Systems Company RDF Solution_MEISTER 2000 3 SE 1999 5.3% main products 4 600MW 3,816 70 2000 3 2 FA 3 E L E C T R I C 8 16 1999 CS F U J I 61 Solution_MEISTER F U J I E L E C T R I C 9 5,000 50 44.4% 41.4% 4,000 38.9% 3,623 4,240 40 3,816 3,000 30 Energy & Electric Systems 1. 1999 3 3 31 2. 2001 5 1998 3 2000 2000 3 2,000 20 1,000 10 1999 왎 왎 2000 0 0 11 1999 3. 2000 2001 SE 10 5 3 ISO9001 1 9 IT 1999 IPP 4 Solution_MEISTER 24 F U J I E L E C T R I C 10 100 150 120 100 149 80 120 102 90 60 116 84 61 60 60 64 62 65 왎 20 30 0 왎 60 30 -9 -20 1999 2001 98 90 40 3 2000 0 0 2001 1999 2000 1999 2001 2000 2001 2000 Solution_MEISTER 2001 3 11.1% 4 SE 4,240 63.5% 100 2001 3 RDF & F U J I E L E C T R I C 11 ED & C • Drive Systems Company PLC UPS 2000 3 1999 2000 3 1999 2000 1999 3 1998 3 2000 NEO SC PLC 3 4 MICREX-SX main products 11 FALDICFA 2.0% 1,560 2000 24 78 F U J I E L E C T R I C 12 3 7 MICREX SX F U J I E L E C T R I C 13 2,000 18.8% 17.1% 20 16.9% 1,800 1,500 1,593 15 1,560 1,000 10 ED & C • Drive Systems 1. 1999 3 3 31 2. 2001 5 1998 3 2000 2000 3 1999 500 2000 5 0 0 11 왎 왎 1999 2000 2001 3. 2001 3 2000 SCM NEO SC SX PLC MICREX- CS 11 FALDIC- 6 ED&C 2001 3 FA ED&C PLC GE FA FRENIC5000VG7 F U J I E L E C T R I C 14 40 100 50 30 20 80 40 82 0 60 -20 -24 30 63 61 52 40 20 -61 -80 왎 20 왎 10 0 1999 2000 2001 28 28 2000 2001 49 -40 -60 31 55 0 1999 2000 2001 1999 2001 3 15.3% MICREX-SX SX 1,800 30 IT NEO SC 4 CS 16% F U J I E L E C T R I C 15 Electronics Systems Company CMOS IC IC PC AV 3 OPC 2000 3 1999 2000 3 1999 11 IC PC main products IC IC PC CMOS HDD 1 8.8% 1,165 75 F U J I E L E C T R I C 16 52 IC PC M-POWER F U J I E L E C T R I C 17 2,000 16 13.9% 13.7% 12.6% 1,500 12 1,330 1,277 1,165 1,000 8 Electronics 1. 1999 3 3 31 2. 2001 5 3 1998 2000 2000 3 1999 500 2000 11 왎 왎 4 0 0 1999 2000 2001 3. IGBT MOSFET 4 IGBT IC 1 IC 1 10 3.5 OPC 7 MOSFET MOSFET M-POWER F U J I E L E C T R I C 18 80 200 20 77 191 10 175 0 162 150 69 70 1999 2000 60 151 138 -20 100 40 106 -40 왎 -50 50 20 왎 -60 -75 0 0 -80 1999 2001 2000 3 2000 2001 2001 2000 2001 14.1% 1999 2001 3 QS-9000 1,330 10 1 20 PC AV Audio Visual HDD HDD 2 IC CMOS IC IC OPC 10 F U J I E L E C T R I C 19 Retail Support Equipment & Systems Company Most Valuable Service Provider 2000 3 1999 main products 500 6.1% 1,402 1.2% F U J I E L E C T R I C 20 62 46 F U J I E L E C T R I C 21 20 2,000 16.0% 15.2% 15.2% 15 1,500 1,493 1,402 1,450 Retail Support Equipment & Systems 10 1,000 1. 1999 3 3 31 2. 2001 5 1998 3 2000 2000 3 1999 5 500 2000 0 0 11 1999 3. 2000 3 왎 왎 1999 2000 2001 ~ R 1999 IT 2000 3 3 IT 2 CD CD50 50 1999 2 2 3 4 CAD ~ ERP 1999 F U J I E L E C T R I C 22 10 10 80 50 30 28 45 27 40 60 61 62 60 30 36 34 29 40 20 31 32 20 왎 20 10 왎 10 0 0 1999 2001 3 2000 2001 26 0 1999 2000 2001 1999 2000 2001 2000 3 2,000 500 TCD 80 80% 2001 3 1,450 60 F U J I E L E C T R I C 23 2,000 16 14.3% 13.9% 1,500 12 1,338 Others 1. 1999 3 3 31 2. 2001 5 1998 3 1,280 7.7% 1,000 2000 2000 3 1999 8 왎 왎 730 500 2000 4 0 11 0 1999 2000 2001 3. 2000 3 1999 318 2000 4.4% 559 144 3 2000 656 3 1,280 2.0% 20 2000 3 11 - 2000 3 - 2000 3 87.5% F U J I E L E C T R I C 24 20 120 20 80 19 90 10 69 100 60 60 10 40 57 30 1999 2000 90 8 1999 504 2000 70 2000 2000 2001 20 0 2001 1999 173 14 2000 2000 39 18 0 2001 왎 30 17 0 39 왎 38 3 3 3 CMS 1999 2000 3 7 68 37 1999 10 F U J I E L E C T R I C 25 2000 3 1999 R&D R&D 2000 3 1999 4 R&D R&D 2000 2000 3 1999 3 300MVA 2 R&D Research & GPS IC 0.5% IC F U J I E L E C T R I C 26 R&D 3% 2001 3 R&D R&D 3 IC 2001 2001 3 2000 3 GPS CPU 500 R&D Development R&D F U J I E L E C T R I C 27 1992 BS7750 1995 1998 10 ISO14001 ISO14031 CO 2 SF6 HFC PFC 24 2000 3 1999 11 CO2 ISO14001 2002 3 2001 Environment 1% 2000 F U J I E L E C T R I C 28 3 EcoPASSION EcoPASSION 2,952t-C CO2 8.93t-C/ 2.7% SF6 2 1999 2000 3 HFC PFC F U J I E L E C T R I C 29 2000 F U J I 6 29 E L E C T R I C 30 6 3 31 2000 ............................................................ ......................................................... ................................................. ................................... .............................................. ............................................ .......................................... ............................................ .......................................... .................. ................. ........................................ ...................................... .......................... .......................................... ............................................... 1999 1998 1997 1996 1995 2000 $8,036,132 6,529,547 ¥851,830 692,132 81.3 155,555 18.2 4,143 0.5 (948) (0.1) (4,092) (0.5) (7,423) (0.9) ¥852,060 692,309 81.3 163,878 19.2 (4,127) (0.5) (6,044) (0.7) (11,665) (1.4) (17,388) (2.0) ¥982,763 773,839 78.7 185,561 18.9 23,363 2.4 18,707 1.9 18,762 1.9 7,487 0.8 ¥945,382 733,690 77.6 186,075 19.7 25,616 2.7 21,480 2.3 21,440 2.3 8,189 0.9 ¥890,413 692,781 77.8 176,114 19.8 21,517 2.4 16,409 1.8 17,065 1.9 5,870 0.7 ¥856,305 667,628 78.0 170,462 19.9 18,214 2.1 12,962 1.5 12,809 1.5 3,820 0.4 ¥(10.38) 0.00 — ¥(24.31) 0.00 — ¥10.47 8.00 76.4 ¥11.45 8.00 69.8 ¥8.21 8.00 97.4 ¥ 5.37 8.00 149.2 ........................................ ¥ 35,851 34,393 28,252 — 937,233 0.88 447,697 47.8 ¥ 48,319 33,993 34,831 — 994,761 0.86 461,957 46.4 ¥ 54,446 31,808 36,003 4.2 981,332 1.02 390,807 39.8 ¥ 58,703 28,467 35,951 4.6 936,552 1.04 303,339 32.4 ............................................... 27,641 28,173 25,939 26,389 ............................. ..................................................... ..................................................... ..................................... ............................................................ ........................................ ..................................................... ¥ — 25,234 — 3.3 880,026 1.04 249,364 28.3 ¥ 27,127 F U J I — — — 2.2 826,715 1.04 229,450 27.8 1,467,500 39,085 (8,943) (38,604) (70,028) $(0.098) 0.000 $ 338,216 324,462 266,528 8,841,821 4,223,557 28,082 E L E C T R I C 31 (3 31 9,827 1999 851,830 8,518 9,453 2000 3 8,520 8,000 8,904 10,000 IC 6,000 51 4,000 13 64 1.6% 9.4% 2,000 717,093 134,737 14.5% 15.8% 0 1996 1996 1997 1998 1999 2000 5.3% 381,662 2.0% 156,090 8.8% 116,518 IC IC F U J I E L E C T R I C 32 (3 6.1% 31 140,215 300 3.0 4.4% 200 2.4 2.5 233 2.4 256 250 215 2.7 2.0 150 1.5 100 1 128,049 0.5 0.5 41 50 692,132 5.1% 0 -41 0 -0.5 -50 -0.5 1996 1996 1997 1998 1999 2000 155,555 8,270 왎 4,143 IC 954 (3 6,116 31 50 IC 0.7 7,552 1.2% 2.0% 0.9 0.8 0 6,246 -2.0 -50 2,011 -0.9 -74 5,071 58 81 2,478 74 100 6,101 -100 -173 835 -150 2,225 50,830 53,974 11,665 2,748 583 -200 1996 1997 1998 1999 2000 왎 7,573 4,092 7,423 F U J I E L E C T R I C 33 (3 31 500 4 3.7 3.3% 11,689 2,805 7,056 3.3 348 360 359 3.8 28,252 4.1% 4.1 400 18.9% 5 2,758 300 3 282 3,944 300MVA GPS 2 200 IC 100 IC 500 1 0 2 0 1997 1998 1999 2000 왎 35,851 25.8% 10,213 6,361 (3 31 587 600 544 10,605 483 2,961 5,711 1. 2. 200 0 1997 1998 1999 2000 왎 왎 F U J I E L E C T R I C 34,393 358 343 339 318 284 400 34 4,886 ( 8,000 50 9,947 41,976 9,813 47,459 10,000 9,372 57,528 9,365 937,233 8,800 2000 3 40 1,487 30 6,000 14,260 447,697 4,000 20.2 19.2 18.2 15.8 3,480 153,945 16.4 2,000 20 1,539 1,574 1,782 1,798 1,775 10 0 0 1996 1997 1998 1999 2000 2000 3 왎 왎 1,175 4,092 35,337 4,296 5,000 39.8 22,899 3,000 17,932 2,000 40 2,493 2000 3 28.3 50 3,033 32.4 47.8 3,908 20,000 4,000 4,619 46.4 4,476 ( 30 20 1,000 10 0 0 1996 1997 1998 1999 2000 왎 F U J I E L E C T R I C 35 3 2000 2 ................................................................................................. 2, 5, 11 ........................................................................................................ 2 ................................................................................................................... ................................................................................................................................ 2, 4 .............................................................................................................. 8 ............................................................................................................ ..................................................................................................................... ......................................................................................................................... 1999 2000 ¥ 49,440 113,287 288,943 (2,049) 147,607 8,908 31,944 ¥ 67,191 100,387 292,526 (3,389) 189,583 4,024 35,217 $ 466,415 1,068,745 2,725,878 (19,330) 1,392,519 84,038 301,358 638,080 685,539 6,019,623 34,480 189,505 293,099 3,729 34,309 175,953 309,492 9,120 325,283 1,787,783 2,765,085 35,179 520,813 (300,540) 528,874 (307,114) 4,913,330 (2,835,283) 220,273 221,760 2,078,047 2, 5 ........................................................................................................................................... ......................................................................................................................... ................................................................................................... ................................................................................................................................ ......................................................................................................................... .................................................................................................................. 2, 5, 11 ............................................................................................ .................................................................................................................................... ................................................................................................................................ 8 ............................................................................................................ ................................................................................................ .............................................................................................................. ................................................................................................................................ ................................................................................................... F U J I E L E C T R I C 36 14,056 27,859 1,252 5,653 31,158 (539) (559) 22,556 24,562 1,596 4,092 36,345 (539) (1,150) 132,604 262,821 11,811 53,330 293,944 (5,085) (5,274) 78,880 87,462 744,151 ¥937,233 ¥994,761 $8,841,821 3 2000 1999 2000 ..................................................................................................................... ¥241,937 28,954 173,902 50,797 2,463 8 53,861 ¥252,141 28,974 179,494 78,322 3,093 9 53,670 $2,282,425 273,151 1,640,585 479,217 23,236 75 508,123 ......................................................................................................................... 551,922 595,703 5,206,812 5 .................................................................................................... 2 ............................................................................................................ ......................................................................................................................... 176,806 19,353 345 1,628 180,842 23,856 2,214 1,580 1,667,981 182,576 3,255 15,358 ................................................................................................................................ 750,054 804,195 7,075,982 ................................................................................................................................ 33,234 33,141 313,528 6 ............................................................................................................... 47,586 — 38,397 67,962 — 47,586 38,397 71,442 448,924 — 362,236 641,151 .......................................................................................................................... 153,945 0 157,425 0 1,452,311 0 ................................................................................................................................ 153,945 157,425 1,452,311 ¥937,233 ¥994,761 $8,841,821 5 ............................................................................................................... 5 ............................................................................... .................................................................................................................................... ........................................................................................................................................ 8 ............................................................................................................ 8 ............................................................................................................ 8 ............................................................................................................... 9 50 :1,600,000,000 2000 1999 3 3 31 31 -715,080,369 -715,080,369 ................................................................................ ................................................................................ ................................................................................................................................ : F U J I E L E C T R I C 37 3 3 31 2000 1999 2000 ¥851,830 692,132 ¥852,060 692,309 $8,036,132 6,529,547 .................................................................................................................. 159,698 155,555 159,751 163,878 1,506,585 1,467,500 .................................................................................................................... 4,143 (4,127) 39,085 .................................................................................................................. 4,508 (6,733) (2,866) 5,896 (6,731) (1,082) 42,529 (63,519) (27,038) (5,091) (1,917) (48,028) (948) (3,144) (6,044) (5,621) (8,943) (29,661) (4,092) 2,748 (11,665) 5,813 (38,604) 25,924 (6,840) (583) (17,478) 90 (64,528) (5,500) (7,423) ¥ (17,388) 2 .......................................................................................................................... ........................................................................................................................................ ............................................................................................................................. .................................................................................................................................... .................................................................................................................. ................................................................................................................................ 7 ............................................................................................................ ....................................................................................................... 2, 8 ........................................................................................................... ............................................................................................ .......................................................................................................... ............................................................................................................................. ¥ $ (70,028) 3 2 ................................................................................................. F U J I E L E C T R I C 38 2000 1999 2000 ¥(10.38) ¥(24.31) $(0.098) 3 31 1998 6 3 31 715,080 — — — — ¥ 47,586 — — — — ¥ 38,397 — — — — ¥ 92,259 (17,388) (2,860) (232) (337) ........................................................................................... 715,080 — — — — — ¥ 47,586 — — — — — ¥ 38,397 — — — — — ¥ 71,442 (7,423) 7,023 (65) (2,935) (80) ........................................................................................................ 715,080 ¥ 47,586 ¥ 38,397 ¥ 67,962 ........................................................................................................ ............................................................................................................................ ................................................................................................................................... ........................................................................................................................ ........................................................................................... 1999 3 31 ........................................................................................................ ............................................................................................................................ ............................................................................................................. ........................................................................................................................ ........................................................................................... 2000 3 31 3 1999 3 31 ................................................................................................................. $448,924 — — — — — $362,236 — — — — — $673,981 (70,028) 66,255 (613) (27,689) (755) .............................................................................................................................. $448,924 $362,236 $641,151 .............................................................................................................................. .................................................................................................................................................. ................................................................................................................................... .............................................................................................................................................. ................................................................................................................. 2000 3 31 F U J I E L E C T R I C 39 3 2000 3 31 2000 .............................................................................................................................. ....................................................................................................... ...................................................................................................................................... .............................................................................................................................. ...................................................................................................................................... ........................................................................................................................................................ ........................................................................................................................................................ ...................................................................................................................................... ............................................................................................................................................. ............................................................................................................................................. .................................................................................................................................. ............................................................................................................................................. ......................................................................................................................................... ......................................................................................................................................... ......................................................................................................................................... ............................................................................................................................................. ............................................................................................................................................................ $ (38,604) 332,991 (18,321) (42,660) (42,529) 63,519 2,481 (201,047) (188,698) (96,576) 70,321 57,264 22,896 426,274 (36,255) (259,632) 24,378 8,035 75,802 4,485 (6,720) (4,625) 42,311 (63,396) (43,632) 1,175 11,085 (32,908) 33,796 (35,337) 18,414 (2,276) 21,891 (14,876) 14,278 1,314 (310,453) 318,830 (333,368) 173,717 (21,472) 206,519 (140,340) 134,698 12,397 4,296 40,528 ...................................................................................... .................................................................................................................................. ..................................................................................................... ....................................................................................................................... ............................................................................................................................................................ (9,757) 17,598 (30,304) (437) 1 (92,047) 166,019 (285,887) (4,123) 9 ......................................................................................................... (22,899) (216,029) ............................................................................................................ (504) (4,754) ........................................................................................................................... ....................................................................................................................... ........................................................................................................................... (17,932) 67,191 181 (169,170) 633,877 1,708 ¥49,440 $466,415 ............................................................................................................................................................ .............................................................................................................................. ................................................................................................................................................. ......................................................................................................................................... ......................................................................................................... ........................................................................................................................... ........................................................................................................................... .................................................................................................................... .................................................................................................................... .................................................................................................................... .................................................................................................................... ............................................................................................................................................. .............................................................................................................................. ............................................................................................................................................................ ......................................................................................................... ....................................................................................................................... F U J I ¥ (4,092) 35,297 (1,942) (4,522) (4,508) 6,733 263 (21,311) (20,002) (10,237) 7,454 6,070 2,427 45,185 (3,843) (27,521) 2,584 2000 E L E C T R I C 40 1 1999 2 2000 a. b. 3 c. d. e. f. 1998 F U J I 4 1 E L E C T R I C 41 g. 40% h. i. j. k. 3 2000 3 31 1 106 4 3 ..................................................................................................... ................................................................................................. ................................................................................................. 2000 1999 2000 ¥ 75,138 58,717 13,752 ¥100,363 76,205 13,015 $ 708,849 553,934 129,736 ¥147,607 ¥189,583 $1,392,519 2000 1999 2000 ¥179,937 62,000 ¥174,641 77,500 $1,697,519 584,906 ¥241,937 ¥252,141 $2,282,425 5 3 ................................................................................... ........................................................................ 2000 F U J I E L E C T R I C 42 1999 3 31 0.49%,0.80% 3 2000 2000 2001 2002 2002 2003 2003 2004 2000 2.5% 2.7% 2.95% 2.0% 2.05% 2.15% 2.25% 2.35% 1999 3 2000 1999 2000 .................................................. ¥ 65,760 ¥ 49,816 $ 620,379 .............................................................. .............................................................. ............................................................ .............................................................. ............................................................ ............................................................ ............................................................ ............................................................ — 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 — 188,679 188,679 188,679 188,679 188,679 188,679 188,679 .................................................................... 205,760 28,954 209,816 28,974 1,941,132 273,151 ¥176,806 ¥180,842 $1,667,981 31 3.06% 2.73% 3 2000 .............................................. ............... ...................................................................................... ¥ 330 5,429 22,632 ¥28,391 1999 ¥ — 4,434 11,293 ¥15,727 2000 $ 3,113 51,217 213,510 $267,840 3 2001 2002 2003 2004 2005 ¥ 28,954 55,597 51,224 49,467 20,518 $ 273,151 524,500 483,245 466,670 193,566 ¥205,760 $1,941,132 1999 2000 ¥19,280 — 21,311 10,237 (6,070) — (5,242) (42,475) (185) ¥10,176 627 — 4,421 — (180) (5,314) (15,351) — $181,887 — 201,047 96,576 (57,264) — (49,453) (400,708) (1,746) ¥ (3,144) ¥ (5,621) $ (29,661) ........................................................................................................................ ........................................................................................................................ ........................................................................................................................ ........................................................................................................................ ................................................................................................................ 6 7 3 2000 ...................................................................................... .............................................................................. .............................................................................. ...................................................................................... ...................................................................................... ...................................................................................... ........................................................ ........................................................................... .................................................................................................... F U J I E L E C T R I C 43 8 3 ................................................................... ...................................................................................... 2000 1999 2000 ¥3,994 (1,246) ¥4,891 922 $37,679 (11,755) ¥2,748 ¥5,813 $25,924 3 ........................................................................................................ ................................................................................................................... ............................................................................................................ ............................................................................................................... ............................................................................................................... ...................................................................................................................... ........................................................................................................ ............................................................................................................ 2000 2000 ¥ 4,103 3,513 3,459 2,947 4,559 2,059 $ 38,708 33,142 32,632 27,802 43,009 19,424 20,640 (2,802) 194,717 (26,434) ........................................................................................................ ¥17,838 $168,283 ........................................................................................................ ...................................................................................................................... ¥ (3,010) (620) $ (28,396) (5,849) ........................................................................................................ (3,630) (34,245) .................................................................................................... ¥14,208 $134,038 2000 ................................................................................................................................................... .................................................................................................... ................................................................................................................................................ .......................................................................................................................................................... ........................................................................................................... 42.1% (22.4) (47.7) (39.1) (67.1) 9 3 ....................................................................... ................................................................................................ F U J I E L E C T R I C 44 2000 1999 2000 ¥ 2,017 19,883 ¥ 2,624 33,884 $ 19,028 187,575 10 1 2 3 4 5 2000 ¥377,424 ......................... ¥138,392 ¥114,790 ¥139,583 ¥ 81,641 ¥851,830 ¥ — ¥851,830 ....... 4,238 17,698 1,728 632 46,408 70,704 (70,704) — ........................ 381,662 156,090 116,518 140,215 128,049 922,534 (70,704) 851,830 375,546 158,568 124,070 ¥ (2,478) ¥ (7,552) ¥ ¥324,795 ¥132,474 ¥149,584 ¥110,947 ¥103,420 ¥821,220 ¥116,013 ¥937,233 ... ¥ 6,748 ¥ 5,017 ¥ 16,476 ¥ 3,763 ¥ 3,192 ¥ 35,196 ¥ 101 ¥ 35,297 ...................... ¥ 9,905 ¥ 5,568 ¥ ¥ 2,944 ¥ 5,310 ¥ 32,043 ¥ 91 ¥ 32,134 ¥ — ¥852,060 ......................... ¥ .............. ................................. 6,116 133,969 8,316 126,038 6,246 ¥ 918,191 2,011 ¥ 4,343 (70,504) ¥ 847,687 (200) ¥ 4,143 1999 ......................... ¥359,732 ¥135,040 ¥126,797 ¥148,554 ¥ 81,937 ¥852,060 ....... 2,656 24,288 941 830 51,961 80,676 (80,676) — ........................ 362,388 159,328 127,738 149,384 133,898 932,736 (80,676) 852,060 ......................... 363,342 165,429 132,809 143,214 131,925 936,721 (80,533) 856,187 ¥ (954) ¥ (6,101) ¥ (5,071) ¥ 1,972 ¥ (3,985) ¥ (142) ¥ (4,127) ¥365,532 ¥133,820 ¥159,542 ¥112,578 ¥106,883 ¥878,356 ¥116,404 ¥994,761 ... ¥ 6,070 ¥ 5,243 ¥ 17,494 ¥ 3,429 ¥ 1,717 ¥ 33,955 ¥ 104 ¥ 34,059 ...................... ¥ 7,607 ¥ 5,914 ¥ 11,956 ¥ 4,463 ¥ 9,977 ¥ 39,920 ¥ 3 ¥ 39,923 .............. ................................. 6,169 ¥ 3 2000 ......................... $3,560,607 $1,305,578 $1,082,927 $1,316,824 $ 770,196 $8,036,132 $ — $8,036,132 ....... 39,985 166,966 16,296 5,957 437,815 667,019 ........................ 3,600,592 1,472,544 1,099,223 1,322,781 1,208,011 8,703,151 (667,019) 8,036,132 ......................... 3,542,891 1,495,929 1,170,475 1,263,853 1,189,031 8,662,179 (665,132) 7,997,047 .............. $ 57,701 $ (23,385) $ (71,252) $ 58,928 $ 18,980 $ 40,972 $ (667,019) — (1,887) $ 39,085 ................................. $3,064,110 $1,249,760 $1,411,176 $1,046,675 $ 975,637 $7,747,358 $1,094,463 $8,841,821 ... $ 63,664 $ 47,334 $ 155,438 $ 35,504 $ 30,098 $ 332,038 $ 953 $ 332,991 ...................... $ 93,446 $ 52,532 $ 27,777 $ 50,080 $ 302,292 $ 859 $ 303,151 78,457 $ 1999 2000 1999 134,737 1,271,103 123,206 15.8% 14.5 F U J I E L E C T R I C 45 11 2000 ............................................................................................... ............................................................................................... ........................................................................................... ............................................................................................... ............................................................................................... ........................................................................................... ¥106,941 877 293 ¥213,046 909 284 ¥106,105 32 (9) ¥108,111 ¥214,239 ¥106,128 ¥ 17,699 — — ¥728,945 — — ¥711,245 — — ¥ 17,699 ¥728,945 ¥711,245 3 2000 ............................................................................................... ............................................................................................... ........................................................................................... ............................................................................................... ............................................................................................... ........................................................................................... $1,008,877 8,274 2,764 $2,009,868 8,575 2,680 $1,000,991 301 (84) $1,019,915 $2,021,123 $1,001,208 $ 166,972 — — $6,876,840 — — $6,709,858 — — $ 166,972 $6,876,840 $6,709,858 12 3 ............................................................................... ............................................................................... F U J I E L E C T R I C 46 3 2000 2000 2000 2000 ¥1,360 3,665 $12,830 34,575 ¥1,308 3,228 $12,340 30,453 Certified Public Accountants Hibiya Kokusai Bldg. 2-2-3, Uchisaiwai-cho Chiyoda-ku, Tokyo 100-0011 C.P.O. Box 1196, Tokyo 100-8641 To the Board of Directors Fuji Electric Co., Ltd. Phone: 03 3503-1100 Fax: 03 3503-1197 We have audited the consolidated balance sheets of Fuji Electric Co., Ltd. and its consolidated subsidiaries as of March 31, 2000 and 1999, and the related consolidated statements of operations, shareholders’ equity, and cash flows for the years then ended, expressed in Japanese yen. Our audits were made in accordance with auditing standards, procedures and practices generally accepted and applied in Japan and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the accompanying consolidated financial statements, expressed in yen, present fairly the consolidated financial position of Fuji Electric Co., Ltd. and its consolidated subsidiaries at March 31, 2000 and 1999, and the consolidated results of their operations and their cash flows for the years then ended, in conformity with accounting principles and practices generally accepted in Japan and applied on a consistent basis. As described in Note 2 to the consolidated financial statements, Fuji Electric Co., Ltd. and consolidated subsidiaries have adopted new accounting standards for consolidation, research and development costs and tax-effect accounting standards in the preparation of their consolidated financial statements. The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31, 2000 are presented solely for convenience. Our audit also included the translation of yen amounts into U.S. Dollar amounts and, in our opinion, such translation has been made on the basis described in Note 3 to the consolidated financial statements. Tokyo Japan June 29, 2000 See note 1 to the consolidated financial statements which explains the basis of preparing the consolidated financial statements of Fuji Electric Co., Ltd. under Japanese accounting principles and practices. 2000 1999 3 31 2000 3 31 2 3 2000 6 29 1 F U J I E L E C T R I C 47 2000 F U J I 7 1 E L E C T R I C 48 F U J I E L E C T R I C 49 9,453 9,827 8,904 8,520 8,518 5.3% 12.2% 8.0% 5.3% 9.0% 15.8% 14.3% 14.8% 14.5% 1,160 1,354 1,452 1,232 1,347 1996 1997 1998 1999 2000 13.0% 9.3% 1999 77.7% 957 1999 F U J I E L E C T R I C 50 986 2000 2000 73.2% 125 111 1999 2000 98 71 1999 2000 163 64 1999 2000 F U J I E L E C T R I C 51 2000 7 1 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 쐽 F U J I E L E C T R I C 52 쐽 2000 3 31 : 141-0032 11 : 1923 8 2 29 : 6504 : 715,080,369 : ¥47,586,067,310 : 59,712 : 27,641 9,963 : 10.40% 6.45% 4.60% 4.39% 3.75% 3.58% 2.83% 2.17% 1.71% 1.54% Tel: 03-5435-7206 Fax: 03-5435-7486 E-mail:[email protected] F U J I E L E C T R I C 53 http://www.fujielectric.co.jp Printed in Japan