net sales

2002
128,901

2001
126,446

EBIT

3,483

3,092

ROE=NI/EBT x EBT/EBIT x Sales/Tot

EBT

2,934

2,127
ROE

1.85%

net sales
cost of sales
Gross Profit

2002
128,901
82,938
45,963

2001
126,446
81,276
45,170

Selling ,general admin exp

other income

42,480
3,483

42,078
3,092

other income expenses

Interest and divident income
interest expenses
equity in earning of affiliates
settlement money of trade mark
loss on valuation
other, net

219
-1,256
98
111
-562
841

174
-1,391
207
-369
414

income before income taxes and minority interest

2,934

2,127

Net Income

2,123

1,740

total assets

114,741

113,914

common equity

23,972

23,972

NI/ EBT

0.723586 0.818054

EBT/EBIT

0.842377 0.687904

EBIT/ Sales

0.027021 0.024453

Sales/ Total Assets

1.123408 1.110013

Total Assets/ common equity

4.786459 4.751961

INCOME STATEMENT

Income taxes

current
deferred

759
-101
658
2,276

668
-422
246
1,881

minority interest

153

141

net income

2,123

1,740

2002

2001

Cash and cash equivalents

short term investment
Notes and account receivable:
trade
unconsolidated subsidaries
less allowance for doubtful
inventries
short term loans
deferred income taxes
other current assets

10,526
1,991

11,500
1,061

41,325
1,580
-1,188
26,598
63
1,052
3,943

41,499
1,137
-1,642
26,558
59
983
3,287

total current assets

85,890

84,442

5,623
23,383
11,633
-24,792
15,847

5,621
22,948
11,843
19
-24,213
16,218

4,448
5,472
1,006
246
3,206
-1,374
13,004

4,742
5,408
1,334
171
2,761
-1,162
13,254

income before minority interest

Balance Sheet

Current Assets

property , plant and equipment

land
building
machinery
construciton In progress
less accumulated depreciation
property, plant and equipment

investment and long term receiveble

investment in securitites:
unconsilidated subsidiaries
other
long term receivables
deferred income tax
other assets
less allowance for doubtful receivables

total investment and other assets

TOTAL ASSETS

114,741 113,914

Current liabilites
short term bank loans
current portion of long term debt
notes and accounts payable
trade
unconsolidated subsidiaries and affiliates
construction
accrued income tax
accrued expenses
other current liabilites

11,896
3,246

14,125
2,467

21,147
180
54
292
5,662
3,987
46,464

21,206
301
88
367
5,375
3,853
47,782

total long term liabilites

13,160
268
5,987
1,495
20,910

12,722
667
4,921
2,361
20,671

minority interest

1,855

1,595

common stock
issued
additional paid in capital
land revaluation reserve
retained earning
unrealized holding gain on securities
translation adjustments
less treasury stock at cost

23,972
21,066
-398
1,675
340
-1,141
-2

23,972
34,495
-13,856
971
-1,716
0

total equity

45,512

43,866

total libilites and equity

114,741

113,914

total current liabilites

long term liabilities
long term debt
deferred income tax
accrued retirement benefits
other long term liabilties

Contingent liabilites
Stock holders equity

EBT x EBT/EBIT x Sales/Total Assets x Total Assets/Common Equity

1.53%

Common Size Income statement

2002
2001
100.0%
100.0%
64.3%
64.3%
55.4%
35.7%

51.2%
4.2%

33.3%
2.4%

0.3%
-1.5%
337.9%
0.1%
-0.7%
1.0%

0.1%
-1.1%
0.2%
-0.3%
0.3%

3.5%

1.7%

0.9%
-0.1%
0.8%
2.7%

0.5%
-0.3%
0.2%
1.5%

0.2%

0.1%

2.6%

1.4%

2002

2001

9.17%
1.74%

10.10%
0.93%

36.02%
1.38%
-1.04%
23.18%
0.05%
0.92%
3.44%

36.43%
1.00%
-1.44%
23.31%
0.05%
0.86%
2.89%

74.86%

74.13%

4.90%
20.38%
10.14%
-21.61%
13.81%

4.93%
20.15%
10.40%
0.02%
-21.26%
14.24%

3.88%
4.77%
0.88%
0.21%
2.79%
-1.20%
11.33%

4.16%
4.75%
1.17%
0.15%
2.42%
-1.02%
11.64%

10.37%
2.83%

12.40%
2.17%

18.43%
0.16%
0.05%
0.25%
4.93%
3.47%
40.49%

18.62%
0.26%
0.08%
0.32%
4.72%
3.38%
41.95%

11.47%
0.23%
5.22%
1.30%
18.22%

11.17%
0.59%
4.32%
2.07%
18.15%

1.62%

1.40%

20.89%
18.36%
-0.35%
1.46%
0.30%
-0.99%
0.00%

21.04%
30.28%
-12.16%
0.85%
-1.51%

39.66%

38.51%