100th interim financial statements · mecaflux s.a. plc direct by koyo, inc. koyo machinery u.s.a.,...

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Page 1: 100TH INTERIM FINANCIAL STATEMENTS · mecaflux s.a. plc direct by koyo, inc. koyo machinery u.s.a., inc. koyo finance (netherlands) b.v. (affiliates) trw koyo steering systems company

100TH INTERIM FINANCIAL STATEMENTSFrom April 1, 1999, to September 30, 1999

Page 2: 100TH INTERIM FINANCIAL STATEMENTS · mecaflux s.a. plc direct by koyo, inc. koyo machinery u.s.a., inc. koyo finance (netherlands) b.v. (affiliates) trw koyo steering systems company

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MESSAGE FROM THE PRESIDENT

It is my pleasure to report to you on Koyo Seiko's businessperformance for the fiscal half-year ended September 30, 1999.

In regard to Japan's economy during this six-month period, althoughincreased spending on public works, incentives for home purchasing andother government measures to stimulate the economy had a positive effectand the worst of Japan's recession appears to be over, levels of personalconsumption remained stagnant and the envisioned recovery based onrevitalized domestic demand did not materialize. Concerning exportmarkets, the U.S. economy continued to perform strongly during this perioddespite concerns about inflation and Asia continued on the road towardeconomic recovery. However, expectations of an economic recovery in

Japan led to a strengthened yen, which placed pressure on exports and further aggravated the overalleconomic climate in Japan.

In the midst of such economic circumstances, Koyo Seiko strove to improve the efficiency of itsproduction systems and strengthen its sales structure. Nonetheless, total sales fell 4.2% from the sameperiod last year to 125,338 million yen, a figure composed of 92,413 million yen in domestic sales, a0.8% increase, and 32,924 million yen in exports, a 15.9% decline.

Sales of bearings fell 6.6% from last year to 75,892 million yen. On the domestic front, although salesto the steel industry were sluggish, sales to the automotive industry were strong. Despite increasedbearing exports to Asia, overall bearing exports fell because of decreased exports to Europe and otherregions.

Steering division sales rose 2.7% from last year to 36,880 million yen, led by strong sales to domesticcustomers.

Sales in other product divisions fell 7.5% to 12,565 million yen because of decreased sales of machinetools and other products.

Regarding profit, as a result of improving cash flow conditions and other measures, an operatingincome of 492 million yen and net profit of 209 million yen--both nearly identical to last year's results--were achieved despite decreased sales and an extraordinary retirement-bonus expense.

Concerning the outlook for Japan's economy, although some believe Japan has begun to move in thedirection of economic recovery, the nation's ability to invigorate private-sector demand appears limited,investment in plants and equipment remains low, and unemployment is at record-high levels. On theoverseas front, although Asia is proceeding toward recovery, there are concerns that America's strongeconomic growth will taper off, and the direction of other important regional economies is unclear.

Given such a severe economic environment, Koyo Seiko will continue implementing structural

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improvements and changes, beginning with a reduction of indirect labor and other fixed costs, and alsoreview its production systems, etc. in order to improve profitability. In addition, we will work to upgradeR&D capability, particularly at our R&D center in Nara, and strengthen our network of overseas bearingand steering bases in North America, South America, Europe and Asia. Koyo Seiko will pursue long-termgrowth through these and other means and continue strengthening its management base in order torespond flexibly and appropriately to changes in the business environment as they occur.

Lastly, allow me to express my sincere gratitude to all our shareholders for their continual support.

Hiroshi Inoue

President

Page 4: 100TH INTERIM FINANCIAL STATEMENTS · mecaflux s.a. plc direct by koyo, inc. koyo machinery u.s.a., inc. koyo finance (netherlands) b.v. (affiliates) trw koyo steering systems company

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INTERIM BALANCE SHEETS(NON-CONSOLIDATED)as of September 30

ASSETSCurrent assets:

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Short-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Notes and accounts receivable:

Trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Subsidiaries and affiliates . . . . . . . . . . . . . . . . . . . . . . .Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Allowance for doubtful accounts . . . . . . . . . . . . . . . . .

Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Deferred income taxes and other current assets . . . . . . . . .

Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Investments and advances:Investments in securities . . . . . . . . . . . . . . . . . . . . . . . . . . . .Investments in and advances to subsidiaries

and affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Property, plant and equipment:Buildings and structures . . . . . . . . . . . . . . . . . . . . . . . . . . . .Machinery and equipment . . . . . . . . . . . . . . . . . . . . . . . . . .

Accumulated depreciation . . . . . . . . . . . . . . . . . . . . . . . . . .

Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Construction in progress . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Deferred income taxes and other assets . . . . . . . . . . . . . . .

Millions of yenThousands ofU.S. dollars

199919981999

¥ 6,1545,500

11,573

40,30539,316

2,75182,372

(378)81,99430,732

2,277138,230

413

73,81974,232

54,961233,901288,862

(215,735)73,12717,3522,277

92,7563,070

¥ 308,288

$ 57,54251,426

108,209

376,856367,614

25,725770,195

(3,534)766,661287,345

21,2911,292,474

3,862

690,219694,081

513,8922,187,0182,700,910

(2,017,159)683,751162,24321,293

867,28728,703

$ 2,882,545

¥ 3,2599,5008,840

38,76944,714

2,38085,863

(513)85,35035,973

2,245145,167

536

67,87668,412

53,729227,403281,132

(206,227)74,90517,348

3,31695,569

1,994¥ 311,142

Page 5: 100TH INTERIM FINANCIAL STATEMENTS · mecaflux s.a. plc direct by koyo, inc. koyo machinery u.s.a., inc. koyo finance (netherlands) b.v. (affiliates) trw koyo steering systems company

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LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:

Short-term loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Current portion of long-term debt . . . . . . . . . . . . . . . . . . . .Notes and accounts payable:

Trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Subsidiaries and affiliates . . . . . . . . . . . . . . . . . . . . . . .Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Accrued employees' bonuses . . . . . . . . . . . . . . . . . . . . . . . .Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . .

Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Accrued severance indemnities . . . . . . . . . . . . . . . . . . . . . . .Accrued severance indemnities for members of the board of directors

and corporate auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Shareholders' equityCommon stock, ¥50 (US$0.47) par value

Authorized––500,000 thousand sharesIssued––196,175 thousand shares as ofSeptember 30, 1999, and 196,174 thousandshares as of September 30, 1998 . . . . . . . . . . . . . . . . . .

Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . .Legal reserve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Voluntary reserve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total shareholders' equity . . . . . . . . . . . . . . . . . . . . . . .

Conversion rate ¥106.95 per one U.S. dollar

Millions of yenThousands ofU.S. dollars

199919981999

¥ 36,850500

36,26219,0342,3104,755

62,361

1,3126,000

444107,467

61,49915,965

366185,297

25,89460,665

5,54826,1644,720

122,991¥ 308,288

$ 344,5544,675

339,058177,97421,59644,454

583,082

12,27156,1014,149

1,004,832

575,026149,280

3,4191,732,557

242,109567,22551,875

244,64344,136

1,149,988$ 2,882,545

¥ 36,850700

36,60318,2264,5865,341

64,756

1,5587,180

332111,376

62,00015,729

415189,520

25,89360,6645,389

27,4012,275

121,622¥ 311,142

Page 6: 100TH INTERIM FINANCIAL STATEMENTS · mecaflux s.a. plc direct by koyo, inc. koyo machinery u.s.a., inc. koyo finance (netherlands) b.v. (affiliates) trw koyo steering systems company

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INTERIM STATEMENTS OF INCOME(NON-CONSOLIDATED)

for the six months ended September 30

Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Selling, general and administrative expenses . . . . . . . . . .Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Other income (expense):Interest and dividend income . . . . . . . . . . . . . . . . . . . . . . . .Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Gain (loss) on sales or disposal of property,

plant and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . .Others net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Income before income taxes . . . . . . . . . . . . . . . . . . . . . . . . .Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Income taxes-deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Retained earnings at beginning of period . . . . . . . . . . . . .Prior period effect of deferred income taxes . . . . . . . . . . .Transfer from voluntary reserves-recognition ofdeferred income tax liabilities . . . . . . . . . . . . . . . . . . . . . . .

Retained earnings at end of period . . . . . . . . . . . . . . . . . . .

Millions of yenThousands ofU.S. dollars

199919981999¥ 125,338

111,93913,399

13,223176

647(594)

(133)9919

195370

(384)209

1,8781,432

1,201¥ 4,720

$ 1,171,9321,046,653

125,279

123,6351,644

6,048(5,555)

(1,246)937184

1,8283,460

(3,588)1,956

17,55513,391

11 ,234$ 44,136

¥ 130,787115,18415,603

13,6981,905

708(1,109)

(176)(976)

(1,553)352140

---212

2,063---

---¥ 2,275

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Profile March 1999

Members of the Board and Officers

Foundation: January, 1921Capital: 25,893 million yenNumber of Employees: 7,217Products: Ball & Roller Bearings Drive Shafts

Ball Bearing Units Oil SealsBearing Relating Products Machine ToolsSteering Gear Systems Industrial Heat Treatment Furnaces etc.

Shareholders' Information September 1999

PresidentExecutive Vice-PresidentExecutive Vice-PresidentSenior Executive DirectorSenior Executive DirectorSenior Executive Director

Executive DirectorExecutive DirectorExecutive DirectorExecutive Director

DirectorDirectorDirectorDirectorDirectorDirector

Hiroshi InoueTakatoyo UematsuAkinobu MatsudaKohshi YoshidaFumio MorishitaYasuro SuzukiTsuneyoshi UsuiKatsuhiko KitaHajime HoriKeiji MoritaTadaaki JagawaHajime AraiKiyoshi TakedaYoshikiyo YukawaSouichi FujinoKiyotsugu Inui

DirectorDirectorDirectorDirectorDirectorDirectorDirectorDirectorDirector

Statutory AuditorStatutory Auditor

AuditorAuditor

Hiroshi KawasakiKohji HashiguchiKunihiko KatoMitsuhiro IkedaMichiro KajiwaraMasahiko NoguchiMasaomi SouTaisuke SenooShuji MiyawakiNobutoshi MaedaKazuo TakedaFujio ChoAkio Kugai

Among 500,000,000 authorized shares of Koyo Seiko Co., Ltd. 196,175,184 shares are issued. The number ofshareholders is 7,385 as of September 30, 1999.

A total of 101,671,498 shares (51.8 %) of issued shares are held by financial organizations, 62,955,408 shares (32.1%) by other Japanese corporations, 13,852,093 shares (7.1%)by individuals, 389,573 shares (0.2 %) by securitycompanies, and 17,306,612 (8.8 %) by foreign companiesand individuals.

Major shareholders and their owned shares in thousandsare as follows:Toyota Motor Co., Ltd. (42,874)Nippon Life Insurance Co. (15,100)The Asahi Bank, Ltd. (9,784)The Sumitomo Trust & Banking Co., Ltd. (9,729)The Sakura Bank, Ltd. (9,451)The Sumitomo Bank, Ltd. (6,051)The Bank of Tokyo-Mitsubishi, Ltd. (6,032)Tokai Bank, Ltd. (4,000)Toyota Tsusho Co., Ltd. (3,745)The Chuo Trust and Banking Co., Ltd. (3,648)

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INTERIM BALANCE SHEETS(CONSOLIDATED)as of September 30

KOYO SEIKO CO., LTD. AND CONSOLIDATED SUBSIDIARIES

ASSETSCurrent assets:

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Time deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Short-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Notes and accounts receivable:

Trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Unconsolidated subsidiaries and affiliates . . . . . . . . . .Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Allowance for doubtful accounts . . . . . . . . . . . . . . . . .

Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Deferred income taxes and other current assets . . . . . . . . .

Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Investments and advances:Investments in securities . . . . . . . . . . . . . . . . . . . . . . . . . . . .Investments in and advances to unconsolidated

subsidiaries and affiliates . . . . . . . . . . . . . . . . . . . . . . . .

Property, plant and equipment:Buildings and structures . . . . . . . . . . . . . . . . . . . . . . . . . . . .Machinery and equipment . . . . . . . . . . . . . . . . . . . . . . . . . .

Accumulated depreciation . . . . . . . . . . . . . . . . . . . . . . . . . .

Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Construction in progress . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Deferred income taxes and other assets . . . . . . . . . . . . . . .

Millions of yenThousands ofU.S. dollars

19991999

¥ 13,0748,243

11,844

89,6182,3375,579

97,534(756)

96,77875,2477,404

212,590

10,295

5,61215,907

92,567347,423439,990

(309,629)130,36126,8574,774

161,99218,683

¥ 409,172

$ 122,24577,076

110,744

837,94221,85252,161

911,955(7,069)

904,886703,572

69,2251,987,748

96,262

52,476148,738

865,5133,248,4664,113,979

(2,895,084)1,218,895

251,11644,640

1,514,651174,691

$ 3,825,828

The consolidated financial statements include the accounts of Koyo Seiko Co., Ltd. and these of its major subsidiaries and affiliates. These forty subsidiaries and three affiliates are as listed below:

KOYO ELECTRONICS INDUSTRIES CO., LTD.KOYO MACHINE INDUSTRIES CO., LTD.DAIBEA CO., LTD.KOYO THERMO SYSTEMS CO., LTD.ISE SEIKI CO., LTD.KOYO SEIATSU CO., LTD.TOKYO KOYO BEARING CO., LTD.NIPPON NEEDLE ROLLER MANUFACTURING CO., LTD.KOYO SALES CO., LTD.UTSUNOMIYA KIKI CO., LTD.KOYO NETSUSHORI CO., LTD.KOYO SEALING TECHNO CO., LTD.KYUEI YOUKO CO., LTD.MEIWA SHOKO CO., LTD.EIKO SEIMITSU CO., LTD.

COPARTNERSHIP KJKKOYO CORPORATION OF U.S.A.SOCIETE DE MECANIQUE D'IRIGNY S.A.KOYO BEARINGS (EUROPE) LTD.KOYO DELAWARE INC.HYDROPERFECT INTERNATIONAL S.A.WUXI KOYO BEARING CO., LTD.KOYO STEERING (THAILAND) CO., LTD.KOYO MANUFACTURING (THAILAND) CO.,LTD.THAI KOYO CO., LTD.KOYO NIDEC (DALIAN) PRECISION BEARINGS CO., LTD.EUROPA-KOYO B.V.KOYO FRANCE S.A.KOYO (U.K.) LTD.KOYO DEUTSCHLAND GMBH.

KOYO LATIN AMERICA, S.A.KOYO AUSTRALIA PTY. LTD.KOYO CANADA INC.KOYO ESPANOLA, S.A.KOYO SINGAPORE BEARING PTE. LTD.ENERFLUX INDUSTRIE S.A.MECAFLUX S.A.PLC DIRECT BY KOYO, INC.KOYO MACHINERY U.S.A., INC.KOYO FINANCE (NETHERLANDS) B.V.(AFFILIATES)TRW KOYO STEERING SYSTEMS COMPANYKOYO ITALIA S.R.L.SONA KOYO STEERING SYSTEMS LTD.

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LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:

Short-term loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Current portion of long-term debt . . . . . . . . . . . . . . . . . . . .Notes and accounts payable:

Trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Unconsolidated subsidiaries and affiliates . . . . . . . . . .Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Accrued employees' bonuses . . . . . . . . . . . . . . . . . . . . . . . .Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . .

Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Accrued severance indemnities . . . . . . . . . . . . . . . . . . . . . . .Accrued severance indemnities for members of the board of directors

and corporate auditors . . . . . . . . . . . . . . . . . . . . . . . . . . . .Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Minority interests in consolidated subsidiaries . . . . . . . .

Shareholders' equity:Common stock, ¥50 ($0.47) par value

Authorized––500,000 thousand sharesIssued––196,175 thousand shares as of September 30,1999 . . .

Additional paid-in capital . . . . . . . . . . . . . . . . . . . . . . . . . . .Consolidate retained earnings. . . . . . . . . . . . . . . . . . . . . . . .

Less: treasury share . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total shareholders' equity . . . . . . . . . . . . . . . . . . . . . . .

Conversion rate ¥106.95 per one U.S. dollar

Millions of yenThousands ofU.S. dollars

19991999

¥ 74,0557,193

62,9253,2644,4306,202

76,821

10,0627,8904,931

180,952

72,01623,086

1,140994

278,188

8,670

25,89460,66535,757

(2)122,314

¥ 409,172

$ 692,42367,261

588,36030,51641,42157,987

718,284

94,08673,77046,105

1,691,929

673,366215,863

10,6589,290

2,601,106

81,066

242,109567,225334,340

(18)1,143,656

$3,825,828

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INTERIM STATEMENTS OF INCOMEAND RETAINED EARNINGS(CONSOLIDATED)

For the six months ended September 30

Net sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Cost of sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Selling, general and administrative expenses . . . . . . . . . .

Operating income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Other income (expenses):

Interest and dividend income . . . . . . . . . . . . . . . . . . . . . . . .Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Gain (loss) on sales or disposal of property,

plant and equipment, net . . . . . . . . . . . . . . . . . . . . . . . .Equity in earnings of unconsolidated

subsidiaries and affiliates . . . . . . . . . . . . . . . . . . . . . . . .Other net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Income before income taxes anditems listed below . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Income taxes-deferred . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Minority interests in net income of

consolidated subsidiaries . . . . . . . . . . . . . . . . . . . . .Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Consolidated retained earnings:Balance at beginning of the year

Consolidated retained earnings . . . . . . . . . . . . . . . . . . .Prior period effect of deferred income taxes . . . . . . . . . . .Consolidation of additional subsidiaries

and affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Cash dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Bonuses to directors and statutory auditors. . . . . . . . . . . . .Balance at end of the year

Consolidated retained earnings . . . . . . . . . . . . . . . . . . .

Millions of yenThousands ofU.S. dollars

19991999¥ 180,265

150,73429,53126,756

2,775

511(1,734)

(150)

761102

(510)

2,2651,374

(29)

(123)797

29,8846,060

(163)(589)(231)

¥ 35,758

$ 1,685,5091,409,387

276,122250,17725,945

4,780(16,210)

(1,401)

7,115950

(4,766)

21,17912,849

(274)

(1,154)7,450

279,41756,663

(1,526)(5,503)(2,161)

$ 334,340

KOYO SEIKO CO., LTD. AND CONSOLIDATED SUBSIDIARIES

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INTERNATIONAL NETWORK

HEAD OFFICE

KOYO SEIKO CO., LTD.No.5-8,Minamisemba3-chome,Chuo-ku,Osaka542-8502,JAPAN

BEARING PLANTS

KOYO CORPORATION OF U.S.A. (MANUFACTURING DIV.)―Orangeburg Plant―P.O. Drawer 967, Highway 601 North, Orangeburg, SC 29115U.S.A.― Richland Plant―1006 Northpoint Blvd, Blythewood, SC 29016, U.S.A.WUXI KOYO BEARING CO., LTD.3-6 Li Yuan Economic Development District, Wuxi, Jiangsu,CHINAKOYO NIDEC (DALIAN) PRECISION BEARINGS CO., LTD.No. 30 Industrial District Daikei, Dalian Economic & TechnicalDevelopment Zone, Dalian, CHINADALIAN KOYO WAZHOU AUTOMOBILE BEARING CO., LTD.No.1 Gongji North Street, Wafangdian City, Liaoning Province,CHINAKOYO MANUFACTURING (THAILAND) CO., LTD.172 Moo 12, Tambol Bangwua, Amphur Bangpakong,Chachoengsao 24130, THAILANDKOYO BEARINGS (EUROPE) LTD.P.O. Box 101, Elmhirst Lane, Dodworth, Barnsley, SouthYorkshire S75 3TA, UNITED KINGDOMKOYO ROMANIA S.A.1, Tr. Magurele Street, 0700 Alexandoria ROMANIA

STEERING SYSTEM PLANTS

TRW KOYO STEERING SYSTEMS CO.55 Excellence Way, Vonore, TN 37885, U.S.A.KOYO STEERING SYSTEMS OF USA INC.Greenfield in Botetourt County, Virginia U.S.A.KOYO STEERING ARGENTINA S.A.Perdriel 1859 1279-Buenos Aires, ARGENTINAKOYO STEERING BRASIL LTDA.Rua Sete de Setembro, 4698 Cj.101/102-Batel-Curitiba PR-Brasil-CEP 80240-000T&K AUTOPARTS SDN. BHD.Lot 24, Jaldn Delima (1/3), Subang Hi-Tech Industrial Park, BatuTiga, 40000 Shah Alam, Selangor Darul Ehsan, MALAYSIAYUBEI KOYO STEERING SYSTEM CO., LTD.No.322. Heping Road, Xinxiang City, Henan Province CHINA453003FAW KOYO STEERING SYSTEMS CO., LTD.No.122 Dongfeng Street, Changchun City, CHINAKOYO STEERING (THAILAND) CO., LTD.172 Moo 12, Tambol Bangwua, Amphur Bangpakong,Chachoengsao 24130, THAILANDSONA KOYO STEERING SYSTEMS LTD.12th Floor Indra prakash Building 21, Barakhamba Road, NewDelhi-110 001, INDIASOCIETE DE MECANIQUE D'IRIGNY S.A.Zone Industrielle du Broteau, B.P.1, 69540 Irigny, FRANCE HYDROPERFECT INTERNATIONAL S.A.Z.l.-26, Rue Condorcet B.P.87,94432Chennevieres-Sur-Marne Cedex, FRANCEENERFLUX INDUSTRIE S.A.41, Route de Chateaurenault BP.P.705-41007 Blois Cedex,FRANCE

TECHNICAL CENTERS

OFFICES

KOYO CANADA INC.5324 South Service Road, Burlington, Ontario L7L 5H5,CANADAKOYO CORPORATION OF U.S.A. (SALES DIV.)― Cleveland Office―29570 Clemens Road, P.O. Box 45028, Westlake, OH 44145,U.S.A.―Detroit Office―47771 Halyard Drive, Plymouth, MI 48170, U.S.A.KOYO DE MEXICO, S.A.Av. Primero de Mayo No. 153, 53500 Naucalpan Edo. de Mexico,MEXICOKOYO LATIN AMERICA, S.A.Edificio Banco del Pacifico Planta Baja, Calle Aquilino de LaGuardia y Calle 52, Panama, REPUBLICA DE PANAMAKOYO ROLAMENTOS DO BRASIL LTDA.Av. Paulista, 1439, 7 And. Conj. 71, Sao Paulo-SP, BRASIL CEP01311-926THAI KOYO CO., LTD.193/53 Lake Rajada Office Complex, 14th Floor Unit B,Rachadapisek Road, Klongtoey, Bangkok 10110, THAILANDKOYO SINGAPORE BEARING (PTE.) LTD.38 Tuas West Road, Singapore 638385, SINGAPOREPHILIPPINE KOYO BEARING CORPORATIONRoom 504, Comfoods Building Cor., Gil Puyat Ave., and PasongTamo, Makati city, PHILIPPINESKOYO SEIKO CO., LTD. SEOUL BRANCHInwoo Building 6F, 539-11, Shinsa-Dong, Kangnam-Ku, Seoul,KOREAKOYO SEIKO CO., LTD. BEIJING LIAISON OFFICEPeace Hotel Room 2804, No.3 Jin Yu Hu Tong Beijing, CHINAKOYO AUSTRALIA PTY. LTD.Unit 7, 175-179 James Ruse Drive, Rosehill, 2142 N.S.W.,Sydney AUSTRALIAKOYO SEIKO CO., LTD. EUROPEAN CENTRAL OFFICEMarkerkant 13-01, 1314 AL Almere, THE NETHERLANDSKOYO KULLAGER SCANDINAVIA A.B.Kanalvagen 1B, 194 61 Upplands-Vasby, SWEDENKOYO (U.K.) LTD.Whitehall Avenue, Kingston, Milton Keynes, MK 10 OAX,UNITED KINGDOMEUROPA-KOYO B.V.Lekdijk 187-2867 GJ Langerak, NIEUWPOORT, THENETHERLANDSEUROPA-KOYO B.V. (EXPORT DIV.)Lekdijk 187, 2965 EG, Nieuwpoort, THE NETHERLANDSKOYO DEUTSCHLAND GMBH.Bargkoppelweg 4, D-22145 Hamburg, GERMANYKOYO FRANCE S.A.8 Rue Guy Moquet, B.P. 189 Z.I., 95105 Argenteuil Cedex,FRANCEKOYO ESPANOLA, S.A.Calle Aramayona, S/N,Naves 1 y 2,Pol ıgono Industrial “LasMercedes”, 28022 Madrid, SPAINKOYO ITALIA S.R.L.Via Bronzino 9, 20133 Milano, ITALY KOYO CORPORATION OF U.S.A.

Technical Center47771 Halyard Drive, Plymouth, MI 48170, U.S.A.KOYO SEIKO CO., LTD.EUROPEAN TECHNICAL CENTREMarkerkant 13-02, 1314 AL Almere, THE NETHERLANDS

Page 12: 100TH INTERIM FINANCIAL STATEMENTS · mecaflux s.a. plc direct by koyo, inc. koyo machinery u.s.a., inc. koyo finance (netherlands) b.v. (affiliates) trw koyo steering systems company

Head Office: No.5-8, Minamisemba 3-Chome, Chuo-ku, Osaka 542-8502, JAPANPHONE: 81-6-6245-6087 FAX: 81-6-6244-0814

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