2005 - Molex

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martin We still measure and reward local behavior, but we expect people to act globally. We have to make sure that our reward system supports actions that optimize results for us and our customers. For example, Molex Japan is an undisputed leader in microminiature technology, so it’s logical to design all new microminiature products there. But if volume is significant enough, we might choose to manufacture the products in China and then sell them worldwide. We need measurement and incentive systems that reward this type of global behavior. liam We experienced this situation in Europe. When cell phone production moved to China, we were still doing development work in Ireland, but not getting credit for any of the revenue or profit. We know we must change this and make our reward system match our philosophy of design anywhere, make anywhere, sell anywhere. dave Looking at our financial results this year, people would conclude that our two Asian regions had a good year and the Americas and Europe had a poor year. But our Far East South region, without fully supporting attendant costs, benefited from engineering and sales work performed in America and Europe, so profitability ends up being higher in one region and lower in others. The question remains, how do we set incentives to be a truly global company? I think the answer will involve a great deal of cultural change, but if we can implement the right structure, the results should be well worth the effort. martin It helps that the three of us have spent significant time in the Molex regions. We’ve all lived and worked overseas for extended periods. Many managers travel today, but it’s not the same as living and working in a country and really getting to know the people, culture and business practices. liam Respecting differences is important when applying best practices operationally. But I believe we can still leverage more standardization across the company without going against a country’s culture and the entrepreneurial spirit that has always been a strength of Molex. martin I think the functions that work best today are those with a strong global structure like finance and IT. With engineering, marketing and quality, we struggle to share best-in-class ideas. dave Within Molex, all finance personnel report on a direct-line basis up through the CFO. This structure has enabled us to establish outstanding financial systems, most notably, the global information system that is fundamental to every aspect of our business. In completing the assessment of our internal control environment required by Sarbanes-Oxley, we’ve developed even better processes and more efficient ways to manage our business. Molex 2005 Annual Report L E A D E R S H I P R O U N D T A B L E 2 0
Molex 2005 Annual Report L E A D E R S H I P R O U N D T A B L E 2 1 “In completing the assessment of our internal control environment required by Sarbanes-Oxley, we’ve developed even better processes and more efficient ways to manage our business.” Dave Johnson
Page 3 and 4: Molex 2005 Annual Report T O O U R
Page 5 and 6: Sales by Industry 27% Telecommunica
Page 7 and 8: these reasons, over the past few ye
Page 9 and 10: 29 Development Groups Design Center
Page 11 and 12: that keep pace with the ongoing mig
Page 13 and 14: Sales by Region Americas 27.5% Far
Page 15 and 16: L E A D E R S H I P R O U N D T A B
Page 17 and 18: Molex Molex 2005 2005 Annual Annual
Page 19 and 20: Molex 2005 Annual Report L E A D E
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Page 27: Fred A. Krehbiel (4)* is Co-Chairma
Page 30 and 31: Molex 2005 Annual Report T R A N S
Page 42 and 43: TABLE OF CONTENTS Page Part I Item
Page 44 and 45: Markets and Products below: The app
Page 46 and 47: The Company believes that its succe
Page 48 and 49: the technology industry to help dri
Page 50 and 51: Many of Molex’s worldwide manufac
Page 52 and 53: Item 2. Properties Molex owns and l
Page 54 and 55: The following table contains inform
Page 56 and 57: Item 7. Management’s Discussion a
Page 58 and 59: The Company anticipates that its gr
Page 60 and 61: Pension Plans The costs and obligat
Page 62 and 63: Results of Operations Year Ended Ju
Page 64 and 65: opportunities with its Molex counte
Page 66 and 67: Goodwill and Other Asset Impairment
Page 68 and 69: Far East South Region - Singapore,
Page 70 and 71: Financing Activities Cash was used
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existing and future competitors, wh
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offsets, as compared with offsets t
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Molex Incorporated Consolidated Bal
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Molex Incorporated Consolidated Sta
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1. Organization and Basis of Presen
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Revenue Recognition Revenue is real
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fiscal 2005 or 2006. The Company di
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Year ended June 30, 2005 The aggreg
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Year ended June 30, 2003 As a resul
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sold into the structured cabling ma
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The components of net deferred tax
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Benefit Obligations and Plan Assets
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The following provides a reconcilia
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certain events. Upon such conversio
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The option price per share for cert
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Corporate and Other assets include
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REPORT OF INDEPENDENT REGISTERED PU
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Item 9. Changes in and Disagreement
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absolute assurance that misstatemen
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Molex Incorporated Schedule II - Va
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10.14 Molex Cash Merit Bonus Plan (
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74 Exhibit 31.1 CERTIFICATION PURSU
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CERTIFICATION PURSUANT TO 18 U.S.C.
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2005 - Molex

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