Annual Report 1997 ［ PDF：2.4MB ］ - Shiseido

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13. Unaudited Related Party Information Material transactions of the Company with its related companies and individuals, excluding transactions with consolidated subsidiaries which are eliminated in the consolidated financial SHISEIDO HONEYCAKE INDUSTRIES Co., Ltd. Paid-in capital ¥90 million Principal business Production of cosmetics and toiletries Equity ownership percentage 28.1% Description of the Company’s transactions Purchase of products Volume of transactions made in the year ended March 31 ...... Resulting account balances as at March 31 (Notes and accounts payable).......................... TAIWAN SHISEIDO Co., Ltd. Paid-in capital NT$724 million Principal business Production and wholesale of cosmetics Equity ownership percentage 50.0% Description of the Company’s transactions Sales of products Volume of transactions made in the year ended March 31 ...... Resulting account balances as at March 31 (Accounts receivable).............................. Pierre Fabre Japon Co., Ltd. Paid-in capital ¥100 million Principal business Sales and import of cosmetics Equity ownership percentage 50.0% Description of the Company’s transactions Purchase of products Volume of transactions made in the year ended March 31 .......................... Resulting account balances as at March 31 (Accounts payable) ................................................... The term and conditions on the above transactions are the same as those of the arm’s-length transactions. SHISEIDO / Annual Report 1997 34 statements and other than those disclosed elsewhere in these financial statements, for each of the three years in the period ended March 31, 1997, were as follows: Millions of yen 1997 1996 1995 ¥2,663 ¥0,732 ¥2,271 ¥0,332 ¥1,518 ¥1,532 Millions of yen 1997 1996 1995 ¥3,855 ¥0,373 ¥3,076 ¥0,046 ¥2,924 ¥0,514 Millions of yen 1997 ¥2,801 ¥0,273 Thousands of U.S. dollars 1997 $23,157 $06,365 Thousands of U.S. dollars 1997 $33,522 $03,243 Thousands of U.S. dollars 1997 $24,357 $02,374
To: The Board of Directors of Shiseido Company, Limited We have audited the accompanying consolidated balance sheets of Shiseido Company, Limited and its subsidiaries as at March 31, 1997 and 1996, and the related consolidated statements of income, shareholders’ equity and cash flows for each of the three years in the period ended March 31, 1997, all expressed in Japanese yen. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with the auditing standards generally accepted in Japan. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall consolidated financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Shiseido Company, Limited and its subsidiaries as at March 31, 1997 and 1996, and the consolidated results of its operations and its cash flows for each of the three years in the period ended March 31, 1997, in conformity with generally accepted accounting principles in Japan. As described in Note 2 (11) of the Notes to the Consolidated Financial Statements, the Company, during the year ended March 31, 1996, changed its accounting policy to account for the cost elements resulted from write-off of merchandise which was unsold and returned to the Company’s production plants from as a part of selling, general and administrative expenses to as a part of cost of sales. The change was made based on the general recognition that unsold merchandise returned became to be caused in the ordinary cause of sales cycles due to the diversification of sales channels and that it became to be necessary to enhance the control on the freshness of products and to collect merchandise to be returned from the viewpoint of quality control according to changes in the social and economic environment including the enforcement of the product liability law in Japan and, we concur the change as appropriate. As a result of the change, cost of sales for the year ended March 31, 1996 was increased by ¥3,982 million and selling, general and administrative expenses was decreased by ¥3,982 million as compared with the previous basis. Tokyo, Japan June 27, 1997 SHISEIDO / Annual Report 1997 35 Chuo Audit Corporation Independent Certified Public Accountants
Page 1 and 2: Annual Report 1997 For the year end
Page 3 and 4: For the Year: Net sales...... .....
Page 5 and 6: Akira Gemma, President and Chief Ex
Page 7 and 8: Our Global Strategy Making a World
Page 9 and 10: We maintain a diverse merchandising
Page 11 and 12: Review of Operations COSMETICS In f
Page 13 and 14: 40, and Pieds Nus, a makeup product
Page 15 and 16: Ceu’s packaging and ingredients r
Page 17 and 18: Gymrind diet foods help people main
Page 19 and 20: As a good corporate citizen, Shisei
Page 21 and 22: For the Year: Net sales ...........
Page 23 and 24: Financial Position and Liquidity As
Page 25 and 26: LIABILITIES AND SHAREHOLDERS’ EQU
Page 27 and 28: Consolidated Statements of Sharehol
Page 29 and 30: Notes to the Consolidated Financial
Page 31 and 32: substantially, and such impairments
Page 33 and 34: 7. Retirement Plans and Severance I
Page 35: As a result of the amendment to the
Page 39: Printed in Japan

Annual Report 1997 ［ PDF：2.4MB ］ - Shiseido

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