|
Years ended March 31, 1999 and 1998
Kawasaki Kisen Kaisha, Ltd. and
Consolidated Subsidiaries.
| |
(Millions of yen) |
(Thousands of U.S.dollars) |
| |
1998 |
1999 |
1999 |
Revenues : |
|
|
|
Freight and charter of vessels |
¥ 411,893 |
¥ 416,309 |
$ 3,453,411 |
Operating revenues other
than shipping |
105,862 |
96,791 |
802,916 |
|
Other |
6,322 |
12,298 |
102,019 |
Total revenues |
524,077 |
525,398 |
4,358,346 |
| |
|
|
|
Expenses : |
|
|
|
Expenses, other than depreciation, for
vessels |
291,991 |
313,972 |
2,604,494 |
Depreciation of vessels |
30,704 |
24,866 |
206,270 |
Cost of incidental revenues |
116,962 |
103,006 |
854,468 |
Selling, general and administrative
expenses |
51,176 |
49,749 |
412,682 |
Interest expense |
16,816 |
15,129 |
125,500 |
Other |
10,685 |
13,036 |
108,141 |
Total expenses |
518, 334 |
519,758 |
4,311,555 |
| |
|
|
|
Income before income taxes |
5,743 |
5,640 |
46,791 |
Income taxes |
4,075 |
4,044 |
33,548 |
Net
income |
¥ 1,668 |
¥ 1,596 |
$ 13,243 |
| |
|
|
|
Retained earnings at beginning of the year |
23,783 |
25,417 |
210,836 |
Adjustments to retained earnings
at beginning of the year for inclusion in or exclusion from consolidation or equity method
of accounting for subsidiaries and affiliates
|
68 |
407 |
3,381 |
Dividend |
- |
(1,756) |
(14,571) |
Bonuses to directors and
statutory
auditors |
(67) |
(76) |
(630) |
Transfer to legal reserve |
(35) |
- |
- |
| |
|
|
|
Retained earnings at end of the year |
¥ 25,417 |
¥ 25,588 |
$ 212,259 |
Consolidated Balance Sheets
March 31, 1999 and 1998
Kawasaki Kisen Kaisha, Ltd. and
Consolidated Subsidiaries
| |
(Millions of yen) |
(Thousands of U.S.dollars) |
| ASSETS- |
1998 |
1999 |
1999 |
Current assets : |
|
|
|
Cash and time deposits |
¥ 34,387 |
¥ 29,727 |
$ 246,592 |
Marketable securities |
56,125 |
48,895 |
405,598 |
Accounts and notes receivable -trade |
58,127 |
46,902 |
389,064 |
Allowance for doubtful receivables |
(536) |
(457) |
(3,789) |
Fuel and supplies |
4,638 |
3,893 |
32,295 |
Prepaid expenses and deferred charges |
14,944 |
11,992 |
99,478 |
Other current assets |
14,885 |
15,403 |
127,772 |
Total current assets |
182,570 |
156,355 |
1,297,010 |
| |
|
|
|
Investments and long-term receivables : |
|
|
|
Investments in and advances to
unconsolidated subsidiaries
and affiliates |
14,677 |
10,080 |
83,615 |
Investments in other securities |
11,126 |
13,793 |
114,422 |
Long-term loans receivable |
4,353 |
4,747 |
39,377 |
Other investments |
13,574 |
14,610 |
121,196 |
Allowance for doubtful receivables |
(286) |
(563) |
(4,670) |
Total investments and
long-term receivables |
43,444 |
42,667 |
353,940 |
| |
|
|
|
Vessels, property and equipment : |
|
|
|
Vessels |
438,261 |
418,832 |
3,474,344 |
Buildings and equipment |
98,729 |
92,278 |
765,477 |
Accumulated depreciation |
(236,083) |
(242,412) |
( 2,010,883) |
| |
300,907 |
268,698 |
2,228,938 |
Land |
31,191 |
30,977 |
256,959 |
Construction in progress |
13,393 |
15,938 |
132,208 |
Vessels, property and
equipment, net |
345,491 |
315,613 |
2,618,105 |
| |
|
|
|
Other assets |
2,425 |
2,679 |
22,224 |
Translation adjustments |
2,179 |
5,185 |
43,014 |
Total assets |
¥ 576,109 |
¥ 522,499 |
$ 4,334,293 |
Consolidated Balance Sheets
March 31, 1999 and 1998
Kawasaki Kisen Kaisha, Ltd. and
Consolidated Subsidiaries
| |
(Millions of yen) |
(Thousands of U.S.dollars) |
| LIABILITIES AND
SHAREHOLDERS' EQUITY- |
1998 |
1999 |
1999 |
Current liabilities : |
|
|
|
Short-term loans |
¥ 103,554 |
¥ 89,359 |
$ 741,261 |
Current portion of long-term debt |
32,848 |
23,294 |
193,231 |
Accounts and notes payable - trade |
44,580 |
35,056 |
290,798 |
Deferred income |
18,302 |
11,157 |
92,553 |
Current portion of obligations under
finance leases |
8,099 |
6,622 |
54,931 |
Other current liabilities |
16,188 |
17,900 |
148,489 |
Total current liabilities |
223,571 |
183,388 |
1,521,263 |
| |
|
|
|
Long-term liabilities : |
|
|
|
Long-term debt, less current
portion |
200,592 |
202,783 |
1,682,142 |
Accrued employees' retirement benefits |
9,314 |
8,136 |
67,488 |
Accrued expenses for overhaul of
vessels |
2,173 |
2,486 |
20,624 |
Obligations under finance leases |
64,619 |
49,392 |
409,725 |
Total long-term liabilities |
276,698 |
262,797 |
2,179,979 |
| |
|
|
|
Minority interests in consolidated subsidiaries |
7,404 |
7,707 |
63,935 |
| |
|
|
|
Shareholders' equity : |
|
|
|
Common stock, ¥50 par value : |
|
|
|
Authorized - 1,080,000,000 shares |
|
|
|
Issued - 585,501,874 shares |
29,275 |
29,275 |
242,846 |
Capital surplus |
13,744 |
13,744 |
114,012 |
Retained earnings |
25,417 |
25,588 |
212,259 |
| |
68,436 |
68,607 |
569,117 |
Treasury stock, at cost |
- |
- |
(1) |
Total shareholders' equity |
68,436 |
68,607 |
569,116 |
Total liabilities and shareholders'
equity |
¥ 576,109 |
¥ 522,499 |
$ 4,334,293 |
|