sanken electric co ltd annual report 2004 for the year ended march 31 dear fellow shareholders thousands of millions yen us dollars note 2003 net sales 147 176 146 070 1 392 525 operating income 11 687 9 970 110 578 5 784 4 002 54 726 per share and 47 07 96 0 44 cash dividends 10 00 09 at end total assets 144 383 148 745 366 098 equity 62 518 58 251 591 522 translation amounts into dollar is included solely convenience has been made as a matter arithmetic computation only 105 69 to approximate exchange rate prevailing on see 2 notes consolidated financial statements highlights profile subsidiaries years contents special feature environmental initiatives 12 section 13 management 36 reinforcing our compliance framework 37 directory 38 investor information 40 ince its foundation in 1946