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Foster 20080709 Business Report
Transcript of Foster 20080709 Business Report
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Foster Electric Company, Limited
From April 1, 2007,to March 31, 2008
Business Reportfor the 74th Fiscal Term
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Contents
Yasuo Higashi
President
To Our Shareholders 2
Review of Operations (Consolidated) ,
Changes in Operating Results and Total Assets 3, 4
Consolidated Balance Sheets (Condensed) ,
Consolidated Statements of Income (Condensed) 5
Consolidated Statement of Changes in Shareholders'
Equity 6
Consolidated Statements of Cash Flows (Condensed) 6
Nonconsolidated Balance Sheets (Condensed) ,
Nonconsolidated Statements of Income (Condensed)7
Topics 8
Company Profile, Directors and Corporate Auditors 9
Group Companies 10, 11, 12
Stock Information 13Introduction of Our Products 14
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To Our Shareholders
During the 74th fiscal term, the year ended March 31, 2008, thedigitalization of home appliances further advanced in theelectronics industry, accelerating the dissemination of flattelevisions, mobile phones, portable audio products and gamemachines in Japan. On the other hand, starting with the subprimeloan crisis in the United States that led to financial concernsworldwide, uncertainty increased in the markets especially in
Japan, the United States and Europe. Rising prices of crude oil andraw materials also became conspicuous.In this business circumstances, the Foster Group enhanced
aggressive proactive marketing activities to pursue orders andsales, as well as new structural reforms.
In Vietnam, second factory started operation during the year inBinh Duong province and management decided to construct a newfactory in Da Nang.
The Group has established a new production subsidiary inNanning, China, and its factory started partial operation during theyear. The Group endeavored to establish more efficient productionactivity by promoting Production Innovation Activity centered inthe factory at Panyu, China. As for marketing, a new sales officewas opened in Germany and it was determined to open offices inThailand and the United States to develop the group-widemarketing system to have closer contact with customers.
As a result, net sales and profit for the year under review eachreached a record high on a consolidated basis.
Management decided to distribute a year-end dividend of 20 pershare as a performance-based profit appropriation and inappreciation of the support of our shareholders. As a consequence,the annual dividend for the year under review has been 36 pershare, which has been an increase of 12 per share compared with
the previous fiscal year.For the 75th fiscal term, the year ending March 31, 2009, marketgrowth toward further digitalization is expected to continue in theelectronics industry although sluggishness will likely remain in theglobal economy.
The Companys annual management guideline for the 75th fiscalterm (FY2008) is To maximize corporate value, by increase both insales and profit through quality evolution. Based on the Medium-
Term Business Plan, we will conduct various policies to raise ourcorporate value in the pursuit of target achievement and endeavorto become a social ly appreciated company through thedevelopment of corporate activities with an emphasis on the CSR.
We deeply appreciate your ongoing support and encouragementand wish you all the best.
Yasuo Higashi, President
and Representative Director
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53,285
2,047
52,720
66,047
3,139
5,62375,705
86,666
4,650
6,883
70th 71st 72nd 73rd 74th(Fiscal term)
70th 71st 72nd 73rd 74th(Fiscal term)
(Millions of yen)
Net Sales(Millions of yen)
Ordinary Income
Consolidated
27,287
31,669
45,465
972
2,451
3,487
53,537
63,247
3,765
4,725
Nonconsolidated
70th 71st 72nd 73rd 74th(Fiscal term)
70th 71st 72nd 73rd 74th(Fiscal term)
(Millions of yen)
Net Sales(Millions of yen)
Ordinary Income
Review of Operations (Consolidated)
Changes in Operating Results and Total Assets
Consolidated net sales for the year ended March 31, 2008,amounted to 86,666 million, up 14.5% from 75,705 million for the
previous fiscal year. This sales increase was mainly attributable tofavorable shipments of headphones for portable audio products,headsets for mobile phones, speakers for flat televisions andautomotive speakers.
Consolidated ordinary income increased to 6,883 million, up48.0% from 4,650 million for the previous fiscal year, mainly due toan increase in net sales and the positive effect of cost-cuttingactivities despite the general trend of declining selling prices ofproducts in the electronics industry and the hike of raw material
prices. Consolidated net income increased 45.3% year over year to4,099 mil l ion from the previous years 2,821 mil l ion.Consequently, net sales and profit for the year under review allreached record highs.
Electronic Equipment Segment:Shipments of our mainstay speaker systems, principally for digitalconsumer appliances such as flat televisions, were favorable despitethe shift to lower selling prices of products in the market.
Sales continued to rise for automotive speakers and active speakerswith built-in amplifiers. Meanwhile, sales were stagnant in the domesticand overseas markets due to weak demand for commercial automotiveuse and hi-fi component stereo sets.
The FOSTEX-branded products suffered from intense marketcompetition not only in Japan but also in Western countries.
As a result, the segments overall consolidated net sales increased4.9% year over year to 22,970 million.
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1,775
27,912
16,0611,648
2,842 30,853
17,665
38,635
22,867 25,482
43,169
2,821
4,099
25,719
43,752
70th 71st 72nd 73rd 74th(Fiscal term)
70th 71st 72nd 73rd 74th(Fiscal term)
(Millions of yen)
Net Income
(Millions of yen)
Total Assets andNet Assets Total Assets
Net Assets
8121,291
17,857
13,377
21,122
14,446
26,084
17,098
1,283
28,476
19,083
32,295
20,710
2,402
2,785
70th 71st 72nd 73rd 74th(Fiscal term)
70th 71st 72nd 73rd 74th(Fiscal term)
(Millions of yen)
Net Income
(Millions of yen)
Total Assets andNet Assets
Total Assets
Net Assets
ElectronicComponents
70%
ElectronicEquipment
27%
Other3%
Other3%
North America16%
Europe24%
Asia42%
Japan15%
Net Sales byProduct Segment
Net Sales byGeographical Segment
Electronic Components Segment:Given the continued price declines in the AV (audiovisual)
equipment markets in Japan and overseas, sales of speakers forTV sets and automotive speaker units increased substantially,thereby contributing to a rise in overall sales. Sales of microspeakers increased primarily in the notebook computer market.Headphones for portable audio products and headsets for mobilephones continued to perform steadily.
Sales of microphones tended to recover in the telecommunicationsequipment market following the previous fiscal year.
As a consequence, the segments overall consolidated net sales
advanced 19.9% year over year to 61,020 million.Other Segment:The segments consolidated net sales of dies and other items toour customers decreased 8.7% year over year to 2,675 million.
Net Sales
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Consolidated Balance Sheets (Condensed)
(Millions of yen)
74th Fiscal TermAs of March 31, 2008
73rd Fiscal TermAs of March 31, 2007
(Assets)
Current Assets 28,262 28,679
Fixed Assets 14,907 15,073
Total Assets 43,169 43,752
(Liabilities)
Current Liabilities 15,927 15,632
Long-term Liabilities 1,522 2,637Total Liabilities 17,450 18,270
(Net Assets)
Shareholders' Equity
Common stock 3,770 3,770
Capital surplus 4,564 4,564
Retained earnings 21,552 18,199
Treasury stock (2) (0)Total Shareholders' Equity 29,884 26,533
Valuation, Translation Adjustments and Others
Net unrealized gain on securities 94 544
Foreign currency translation adjustments (4,260) (1,595)
Total Translation Adjustments and Others (4,165) (1,050)
Total Net Assets 25,719 25,482
Total Liabilities and Net Assets 43,169 43,752
Note: All amounts less than 1 million are truncated.
Consolidated Statements of Income (Condensed)
74th Fiscal TermFrom April 1, 2007,to March 31, 2008
73rd Fiscal TermFrom April 1, 2006,to March 31, 2007
Net sales 86,666 75,705Cost of goods sold 70,677 62,889
Gross profit 15,988 12,816
Selling, general and administrative expenses 8,859 8,068
Operating income7,129 4,747Nonoperating income 472 258
Nonoperating expenses 719 355
Ordinary income 6,883 4,650
Extraordinary gains 307 202
Extraordinary losses 951 164
Income before income taxes 6,239 4,688
Income taxescurrent 1,769 1,702Income taxes for prior periods 1,497 -
Refund of income taxes for prior periods (209) -Income taxesdeferred (917) 165Net income 4,099 2,821
(Millions of yen)
Note: All amounts less than 1 million are truncated.
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Consolidated Statement of Changes in Shareholders' Equity
74th Fiscal Term (From April 1, 2007, to March 31, 2008) (Millions of yen)
Consolidated Statements of Cash Flows (Condensed)
Shareholders' equity
Commonstock
Capitalsurplus
Retainedearnings
Treasurystock
Totalshareholders'equity
Balance as of March 31, 2007 3,770 4,564 18,199 (0) 26,533Changes in the period of74th Fiscal Term
Cash dividends paid (747) (747)Net income for the period 4,099 4,099Purchases of treasury stock (1) (1)Net changes in items other thanthose in shareholders' equity
Total of changes in theperiod of 74th Fiscal Term - - 3,352 (1) 3,351
Balance as of March 31, 2008 3,770 4,564 21,552 (2) 29,884
Valuation, translation adjustments and others
Total netassetsNet unrealizedholding gain
on securities
Foreigncurrency
translationadjustments
Total valuation,translation
adjustments andothers
Balance as of March 31, 2007 544 (1,595) (1,050) 25,482Changes in the period of74th Fiscal Term
Cash dividends paid (747)Net income for the period 4,099
Purchases of treasury stock (1)Net changes in items other thanthose in shareholders' equity (449) (2,664) (3,114) (3,114)
Total of changes in theperiod of 74th Fiscal Term (449) (2,664) (3,114) 236
Balance as of March 31, 2008 94 (4,260) (4,165) 25,719
Note: All amounts less than 1 million are truncated.
(Millions of yen)
74th Fiscal TermFrom April 1, 2007,
to March 31, 2008
73rd Fiscal TermFrom April 1, 2006,
to March 31, 2007Net cash used in operating activities 3,696 2,680Net cash used in investing activities (4,835) (4,838)Free cash flows (1,138) (2,157)Net cash used in financing activities 1,345 (196)Effect of exchange rate changes on cash and cash equivalents (429) 208Net (decrease) increase in cash and cash equivalents (221) (2,145)
Cash and cash equivalents at the beginning of the period 3,036 5,182Cash and cash equivalents at the end of the per iod 2,813 3,036
Note: All amounts less than 1 million are truncated.
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(Millions of yen)
Nonconsolidated Balance Sheets (Condensed)
74th Fiscal TermAs of March 31, 2008
73rd Fiscal TermAs of March 31, 2007
(Assets)
Current Assets 15,754 15,598Fixed Assets 16,541 12,878Tangible fixed assets 1,226 1,657Intangible assets 815 185Investments and other 14,498 11,035
Total Assets 32,295 28,476
(Liabilities)Current Liabilities 11,486 8,791Long-term Liabilities 98 601Total Liabilities 11,585 9,393
(Net Assets)
Shareholders' EquityCommon stock 3,770 3,770
Capital surplus 4,564 4,564Retained earnings 12,297 10,258Treasury stock (2) (0)
Total Shareholders' Equity 20,629 18,592Valuation, Translation Adjustments and Others
Net unrealized holding gain on securities 80 490Total Valuation, Translation Adjustments and Others 80 490Total Net Assets 20,710 19,083
Total Liabilities and Net Assets 32,295 28,476Note: All amounts less than 1 million are truncated.
(Millions of yen)
Nonconsolidated Statements of Income (Condensed)
74th Fiscal TermFrom April 1, 2007,to March 31, 2008
73rd Fiscal TermFrom April 1, 2006,to March 31, 2007
Net sales 63,247 53,537Cost of goods sold 55,546 46,955Gross profit 7,701 6,582Selling, general and administrative expenses 4,625 4,096Operating income 3,076 2,485
Nonoperating income 2,190 1,359Nonoperating expenses 541 79Ordinary income 4,725 3,765Extraordinary gains 266 197Extraordinary losses 590 86Income before income taxes 4,401 3,876Income taxescurrent 1,511 1,587Income taxes for prior periods 1,497 -Refund of income taxes for prior periods (209) -Income taxesdeferred (1,183) (114)Net income 2,785 2,402
Note: All amounts less than 1 million are truncated.
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Cash dividends increased
The Company achieved record highs in net sales and profit for the74th fiscal term. Management highly appreciates the continuedsupport of shareholders for this excellent operating performance.
The Company therefore decided to distribute a year-enddividend of 20 per share as a performance-based profitappropriation for the 74th fiscal term and in appreciation of thesupport of our shareholders. As a consequence, the annualdividend for the year under review was 36 per share, which wasan increase of 12 per share compared with the previous fiscalyears annual dividend of 24.
The Company will strive to continuously maintain the targeted20% consolidated payout ratio to meet the expectations ofshareholders.
Factory established in Nanning, ChinaIn November 2007, FOSTER ELECTRIC CO. (HONG KONG),LTD., one of the Companys subsidiaries, established FOSTERELECTRIC CO. (NANNING) LTD. as its wholly owned production
subsidiary in the Guangxi Zhuang Autonomous Region of China.This p lant startedproduction in February2008 in anticipation ofa fu ture product ionincrease for headphonesand headsets.
The construction of asecond bui ld ing forproduction is scheduledto be completed on thepremises in July 2008,and production will beexpanded to a maximumcapacity of 10 millionun i ts , the in tendedmonthly peak productionduring the year.
Monthly production of headphones and headsets reached a record highIn November 2007, the Groups monthly total production ofheadphones and headsets reached a record high of 22.5 million.The increased production capacity at the Vietnam Factory ofFOSTER ELECTRIC (VIETNAM) CO., LTD. much contributed tothis achievement, in addition to the mainstay GUANGZHOUPANYU JIU SHUI KENG FOSTER ELECTRIC FACTORY in China.The factory facilities will be further improved to prepare forbusiness development in the future.
Sales offices opened overseasTo promote a more customer-oriented marketing system, theCompany decided to establish an IPO office in Thailand inDecember 2007, and the office is scheduled to open in June 2008.Meanwhile, the MUENCHEN OFFICE opened in Germany inFebruary 2008. Similarly, the Company decided to establish asales office in Boston, Massachusetts, in the United States, and
the BOSTON OFFICE was opened in April 2008.We will strive to improve efficiency and expand the scale ofbusiness operations through aggressive activities and mutualcollaboration among our sales offices.
Topics
The NANNING No. 1 Factory in China
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Company Profile
Directors and Corporate Auditors
(As of March 31, 2008)
Trade Name Foster Electric Company, LimitedFounded June 20, 1949
Capital Stock 3,770,360,135Listed on the First Section of the TokyoStock Exchange
Head Office 512, Miyazawa-cho, Akishima, Tokyo196-8550, JapanPhone: +81-42-546-2311 (switchboard)FAX: +81-42-546-2317
FOSTEX COMPANY 2-35, Musashino 3-chome, Akishima,Tokyo 196-0021, Japan
Phone: +81-42-545-6111FAX: +81-42-546-9222
Kansai Sales Office 7-18, Nishinakajima 4-chome, Yodogawa-ku, Osaka, Osaka 532-0011, JapanPhone: +81-6-6100-0718FAX: +81-6-6885-6718
Chubu Sales Office Sungreen Building 2F, 7-17, Toei-cho 2-chome, Anjo, Aichi 446-0007, JapanPhone: +81-566-97-6180FAX: +81-566-97-6183
Iga Warehouse 310 Kitada, Kawahigashi, Iga, Mie 519-1424, JapanPhone: +81-595-45-3222FAX: +81-595-45-6808
Tachikawa Warehouse 100-1, Takamatsu-cho 1-chome,Tachikawa, Tokyo 190-0011, JapanPhone: +81-42-524-1471
FAX: +81-42-524-1478Number of Employees 430 (Foster Electric Company, Limited,only); total of group companies: 32,266(Total number of employees of group companiesincludes the employees of GUANGZHOU PANYU JIUSHUI KENG FOSTER ELECTRIC FACTORY,outsourcee of Panyu in China)
(As of June 24, 2008)
President andRepresentative Director
Yasuo Higashi
Senior Managing Director Assistant to the President,General Manager, HP Business Division
Yukio Miyata
Senior Managing Director General Manager, SP Business Division Rintaro KoharaManaging Director Deputy General Manager,
SP Business DivisionYoichi Takahashi
Director General Manager, Administration Division,Management Planning Division
Hiromi Yoshizawa
Director President, FOSTER ELECTRIC CO.,(HONG KONG) Ltd.
Lu San Tie
Director President, FOSTER ELECTRONICS LTD. Shigeki OsawaDirector Outside Director Kaoru MatsumotoStanding Corporate Auditor Outside Corporate Auditor Masashi IkeuchiCorporate Auditor Outside Corporate Auditor Osamu NakamotoCorporate Auditor Takeshi ShiobaraSenior Executive Officer General Manager, Production Division
Chairman, FOSTER ELECTRIC CO.,(HONG KONG) Ltd.
Yoshimi Hamana
Executive OfficerIn Charge of Vietnam Project
Akira ToExecutive Officer President, FOSTEX COMPANY Hiroyuki MakiuraExecutive Officer General Manager, R&D Division, In
Charge of Quality AssuranceYuji Izumi
Executive Officer Deputy General Manager,HP Business Division
Kazuhiro Kishi
Executive Officer Deputy General Manager,SP Business Division Deputy GeneralManager, Engineering Dept. 1 and 2 Manager
Terushige Nagasawa
Executive Officer International Dept. ManagerAdministration Division
Haruo Shirasu
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Group Companies
North America
FOSTER ELECTRIC (U.S.A.), INC.Sale of various types of speakers, speaker systems,
microphones, headphones and electronic equipment and
components
1000 E. State Parkway, Suite G, Schaumburg, IL. 60173 U.S.A.
Phone 1-847-310-8200 FAX 1-847-310-8212
EL PASO OPERATIONS
1216 Don Haskins Drive, El Paso, TX. 79936 U.S.A.
Phone 1-915-872-9160 FAX 1-915-872-9165
DETROIT OFFICE
47689 Avante Drive, Wixom, Ml. 48393 U.S.A.
Phone 1-248-449-3076 FAX 1-248-449-3176
LOS ANGELS OFFICE
28338 Constellation Road, Unit910,Valencia, CA. 91355 U.S.A.Phone 1-661-295-2200 FAX 1-661-295-5900
SAN JOSE OFFICE
19925 Steavens Creek Blvd., Cupertino,
CA.95014 U.S.A.
Phone 1-408-973-7853 FAX 1-408-973-7854
BOSTON OFFICE
1661 Worcester Road, Suite 202 Framingham,
M.A. 01701 U.S.A.
Phone 1-508-405-2810 FAX 1-508-405-2812
FOSTER ELECTRIC (MEXICO), S.A. DE C.V.
Manufacture of various types of speakers and speaker
systems
Henry Dunant #6340 Parque Industrial Omega
Cd. Juarez, Chih. Mexico C.P. 32419
Phone 52-656-627-0170 FAX 52-656-627-0426
EuropeFOSTER ELECTRIC (EUROPE) GmbH
Sale of various types of speakers, speaker systems,
headphones, microphones and electronic components Gotenstrae 19, D-20097 Hamburg, Germany
Phone 49-40-239120 FAX 49-40-23912-222
STUTTGART OFFICE
lm Hgleskies 7, D-72666 Neckartailfingen, Germany
Phone 49-(0)7127-973820 FAX 49-(0)7127-973829
SWEDEN OFFICE
Hantverksvgen 15 SE-43633 Askim Sweden
Phone 46-(0)31-7484343 FAX 46-(0)31-7484377
MUENCHEN OFFICE
Schtzweg 11. D-80935 Mnchen. Germany
Phone 49-(0)89-35466844 FAX 49-(0)89-35466951
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Asia
FOSTER ELECTRIC CO., (HONG KONG) LTD.Manufacture and sale of various types of speakers, speaker
systems, headphones, microphones and electronic
components
Block"D", 12th Floor, Kaiser Estate, 41 Man Yue
Street, Hung Hom, Kowloon, Hong Kong
Phone 852-2362-6233 FAX 852-2764-2466
GUANGZHOU PANYU JIU SHUI KENG
FOSTER ELECTRIC FACTORY *outsourcee
Jiu Shui Keng Xiang, Shi Ji Zhen, Pan Yu Qu,
Guangzhou, Guangdong, 511450 China
Phone 86-(0)20-8462-1172 FAX 86-(0)20-8462-0158
FOSTER ELECTRIC CO., (GUANGZHOU) LTD.
Sale of various types of speakers, speaker systems,headphones, microphones and electronic components
Jiu Shui Keng Xiang, Shi Ji Zhen, Pan Yu Qu,
Guangzhou, Guangdong, 511450 China
Phone 86-(0)20-3456-9181 FAX 86-(0)20-3456-9280
SHANGHAI OFFICE
Room B, 11th Floor, Golden Bridge Plaza,
585 Xizang Middle Road, Shanghai, 200003, China
Phone 86-(0)21-6358-6170 FAX 86-(0)21-6358-6173
FOSTER ELECTRIC CO., (CHANGZHOU) LTD.
Manufacture of various types of dies
No.8 Xi Hu Road, (JINTON International Industrial Park)
Wu Jin, Changzhou, Jiangsu, 213164, China
Phone 86-(0)519-8619-1602 FAX 86-(0)519-8622-6156
FOSTER ELECTRIC CO., (NANNING) LTD.
Manufacture of various types of headphones and headsets
Workshop No.7 1 ZongBu Rd. Nanning New&High-tech
Industrial Development Zone Nanning,
Guang Xi, 530007. China
Phone 86-(0)771-3210002 FAX 86-(0)771-3212391
FOSTER ELECTRIC CO., (TAIWAN) LTD.Sale of various types of speakers and speaker systems
6 East 12th Street Kaohsiung Export Processing
Zone, Kaohsiung, 806-81, Taiwan
Phone 886-(0)7-831-9101 FAX 886-(0)7-841-4810
TAIPEI OFFICE
No.119, Sec.1, Hsin Nan Rd. Nan Kang Village,
Lu Chu Hsiang, Tao Yuan Hsien, 338-58, Taiwan
Phone 886-(0)3-212-3334 FAX 886-(0)3-321-1897
Group Companies
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FOSTER ELECTRIC (SINGAPORE) PTE. LTD.
Sale of various types of speakers, speaker systems,headphones, microphones and electronic components
159 Kampong Ampat #03-01/02 KA Place Singapore 368328
Phone 65-67478811 FAX 65-67460062
P.T. FOSTER ELECTRIC INDONESIA
Manufacture of various types of speakers, speaker
systems and microphones
Kawasan Industri Batamindo, Lot 3, Jalan Beringin
Mukakuning, Batam 29433 Indonesia
Phone 62-(0)770-611635 FAX 62-(0)770-611258
FOSTER ELECTRIC IPO (THAILAND) LTD.
Sale of various types of speakers and speaker systems
and procurement of electronic components
31/11 Moo 3 Bangna-Trad Road KM23, T. Bangsaothong. A. Bangsaothong, Samutprakarn 10540 Thailand
Phone 66-(0)2-740-0853 FAX 66-(0)2-740-0855
FOSTER ELECTRIC (VIETNAM) CO., LTD.
Manufacture of various types of headphones
No.6A,VSIP Street.6, Vietnam Singapore Industrial Park,
Thuan An District, Bihn Duong Province, Vietnam
Phone 84-(0)650-767-547 FAX 84-(0)650-767-548
VIETNAM FACTORY 2
Manufacture of various types of headphones
No. 20, VSIP II Street 5,Vietnam Singapore Industrial Park II,
Binh Duong Industry Service-Urban Complex,
Ben Cat District, Binh Duong Province, Vietnam
Phone 84-(0)650-635-060 FAX 84-(0)650-635051
JapanFOSTER ELECTRONICS LIMITED
Sale of various types of speakers, speaker systems,
headphones, microphones and electronic components
Noguchi Bldg 6F., 7-1, Nakano 4-chome, Nakano-ku
Tokyo 164-0001, Japan Phone: +81-3-5345-9383, Fax: +81-3-5345-9352
FOSTER TRANSPORTATIONS LIMITED
Transportation, vehicle maintenance, sheet metal coating,
warehouse management and non-life insurance agency
business
35-1, Inadaira 2-chome, Musashi-Murayama, Tokyo 208-0023, Japan
Phone: +81-42-560-6631, Fax: +81-42-560-5371
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Stock Information
(As of March 31, 2008)
Financial institutions 48.2% Foreign entities, etc. 28.0%
Individuals and other 17.5%
Securities companies 2.7%
Domestic corporations, etc. 3.6%
3,600
3,200
2,400
2,000
1,600
1,200
2,800
3
2007
4 5 6 7 8 9 10 11 12 2 3
(Month)
1
2008
(Yen)
Major Shareholders
Stock Price Range
Total number of shares authorizedto be issued by the Company: 80,000,000 Shares
Total number of shares issued: 24,106,015 SharesNumber of shareholders: 5,691
Distribution of Shareholders by Shareholder Type
Status of Shares
Shareholder's NameNumber of
Shares Held(thousand)
Ratio ofShares Held
(%)
Japan Trustee Services Bank, Ltd. (trust account) 2,480 10.28
The Master Trust Bank of Japan, Ltd.(Retirement Benefit Trust Hitachi Metals Account)
1,685 6.98
The Master Trust Bank of Japan, Ltd. (trust account) 1,214 5.03
Mizuho Bank, Ltd. 1,016 4.21
The Bank of Tokyo-Mitsubishi UFJ, Ltd. 945 3.92
Trust & Custody Services Bank, Ltd.
(Securities investment trust account)659 2.73
Morgan Stanley and Company, Inc. 655 2.72
The Nomura Trust and Banking Co., Ltd. (trust account) 644 2.67Japan Trustee Services Bank, Ltd. (Portion re-trusted to Mitsui
Asset Trust and Banking Company, Limited, and the trust account
for the TDK Corporation's retirement benefit fund)
587 2.43
Goldman Sachs International 560 2.32
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Introduction of Our Products
G 1302speaker systems
Headphones Speakers
Speaker systems
PD606location recorder
Micro speakers
As a sound specialist, Foster Electric delivers a variety of sound-
related products for customers around the world. In addition to themainstay OEM and ODM products, the Company deliverscommercial FOSTEX-brand products that have gained highappraisal in the music and broadcasting equipment markets.
OEM and ODM products
FOSTEX-brand products
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Closing of accounts March 31
Ordinary general meeting
of shareholders June
Record date March 31
If necessary, another day can be designated
with public notice.
Fixed date to determine shareholders who can
receive dividends
Year-end dividends: March 31 Interim dividends: September 30
Number of unit (tangen)
shares 100
Transfer agent Mizuho Trust & Banking Co., Ltd.
2-1, Yaesu 1-chome, Chuo-ku, Tokyo
Transfer agent branch Stock Transfer Agency Department,
Head Office
Mizuho Trust & Banking Co., Ltd.
2-1, Yaesu 1-chome, Chuo-ku, Tokyo
Agencies Mizuho Trust & Banking Co., Ltd., all branches
nationwide
Mizuho Investors Securities Co., Ltd., head
office and all branches nationwide
Media for Public Notice Nihon Keizai Shimbun(daily newspaper)
issued in the Metropolis of TokyoSecurities code 6794
(Share Handling Affairs, Inquiries and Mailing Address)
Stock Transfer Agency Department,
Mizuho Trust & Banking Co., Ltd.
17-7, Saga 1-chome, Koto-ku, Tokyo 135-8722
+81-0120-288-324 (toll-free)Dedicated Web site: Some of the notification forms can be output
from the Otetsuzuki Naiyo (Procedure)
http://www.mizuho-tb.co.jp/daikou/
http://www. foster.co.jp/
Foster Electric Company, Limited
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