niec in power management leadership position technology leader sbd fred system integration market positioning number 1 share key partner with industry leaders major player consumer electronics 3 trillion yen growing to 7 within a decade 1st half 2004 consolidated results 74 385903518net income 34 6 3961 5411 145ordinary 25 5 3611 7751 414operating 2502 0201 770operating expenses 4 p 10 2 8 merchandise 0 29 product 21 22 gm 45 2967 3815 085merchandise 11 04610 4459 399product 23 34217 82614 484total revenues y2004 1h2003 1h record up ordinary net millions of except financial 512 008 cash flow 582 147investments 1701 201 operating 2003 from operations is investing inch wafer facility which doubles capacity and significantly reduces cost 47 lt debt as total 9
