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Business Forms Toppan Forms Co., Ltd., is responsible for the business forms operations of the Toppan Group. The main activities of Toppan Forms are the production of vouchers, invoices, and other business forms, as well as Data Print Services (DPS), which involve the receipt of data from customers for printing, processing, and delivery. Furthermore, Toppan Forms is making full use of the database technology acquired through DPS as it develops our operations in customer information strategy consulting and information management services (IMS), which take full advantage of the Internet and electronic media. During the year under review, Toppan Forms‘ sales increased 0.9%, to ¥163.7 billion (US$1,352.9 million). Toppan Forms‘ flagship business forms operations recorded a decrease in sales due to declines in both sales volumes and prices for its principal products, ordinary continuous slips. Moreover, the pace of growth in DPS operations slowed due to sluggish demand for direct mail services. On the other hand, favorable growth was recorded by mailing services for invoices and other business forms, which benefited from the strengthening of quality assurance systems and the growing use of outsourcing. In the future, Toppan Forms will expand its DPS businesses to include new services for financial institutions, which are increasingly providing a better level of service to individual customers in the wake of Japan’s financial deregulation. Sales of equipment were favorable due to expanded sales of high-speed collation systems to the distribution industry as well as envelope insertion and sealing equipment to financial institutions. Sales of supplies were also favorable, as we acquired new customers for such products as computer printer supplies and office paper. In addition, revenues from services increased, thanks to steady progress in developing new operations in the field of multimedia. In the future, Toppan Forms will continue to aggressively promote its proposal-based sales activities by speeding up its development of products that meet market needs and by differentiating its products and services from those of its competitors. We will thoroughly reduce materials and other costs and emphasize laborsaving, rationalization, and greater efficiency in production and distribution. By providing the market with IMS-related products, Toppan Forms is aiming to establish itself as an Integrated Information Management Services (IIMS) that responds appropriately to the business strategies of its customers. 180 120 60 0 SALES (Billion ¥) ’95 ’96 ’97 ’98 ’99 Note to Review of Operations As explained in Note 9 of the Notes to Consolidated Financial Statements, our consolidated segment information is presented for the Printing and Other segments. The Review of Operations section of this annual report, however, presents sales information for the Company’s internal operational areas and for Toppan Forms Co., Ltd., the consolidated subsidiary that handles business forms operations. The information is presented in this manner so that readers can more easily understand the performance trends for each of the Company’s areas of operations. In the Review of Operations section, the sales figures for the business forms field represent sales by Toppan Forms Co., Ltd., and the combined totals of the sales figures for the other six fields represent the nonconsolidated sales of Toppan Printing Co., Ltd. 18
Management’s Discussion and Analysis 20 Consolidated Five-Year Financial Summary 23 Consolidated Balance Sheets 24 Consolidated Statements of Income 26 Financial Section Consolidated Statements of Shareholders’ Investment 27 Consolidated Statements of Cash Flows 28 Notes to Consolidated Financial Statements 29 Report of Independent Public Accountants 36
Page 1 and 2: A N N U A L R E P O R T 1 9 9 9 Top
Page 3 and 4: FINANCIAL HIGHLIGHTS Toppan Printin
Page 5 and 6: Toppan is working to establish a fo
Page 7 and 8: With only one year remaining until
Page 9 and 10: ? Japan’s printing industry has a
Page 11 and 12: ? A large number of companies offer
Page 13 and 14: ? Electronics operations already ac
Page 15 and 16: Eco- Creativity To enable us to ful
Page 17 and 18: Securities and Cards In this field,
Page 19: Industrial Materials Toppan has use
Page 23 and 24: Cash Dividends per Share (¥) 15 10
Page 25 and 26: Toppan Printing Co., Ltd. and Subsi
Page 27 and 28: Liabilities and Shareholders’ Inv
Page 29 and 30: CONSOLIDATED STATEMENTS OF SHAREHOL
Page 31 and 32: NOTES TO CONSOLIDATED FINANCIAL STA
Page 33 and 34: Cash and Cash Equivalents For purpo
Page 35 and 36: The aggregate annual maturities of
Page 37 and 38: 1997 Millions of yen Printing Other
Page 39 and 40: Board of Directors and Auditors 38
Page 41 and 42: Hiromichi Fujita Kenji Ejima Naoki
Page 43 and 44: D INDUSTRIAL MATERIALS Toppan Kenza
Page 45 and 46: D Siam Printing and Packaging Co.,
Page 47 and 48: Produced and printed in Japan by To

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