Annual report pursuant to Section 13 and 15(d)

Equity Method Investments (Tables)

v3.19.1
Equity Method Investments (Tables)
12 Months Ended
Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
Summarized financial information for TOKIN for fiscal years 2018 and 2017 are as follows (amounts in thousands):
 
19 Day Period Ended April 19, 2017
Fiscal Year March 31, 2017
Net sales
$
23,649

$
328,822

Gross profit
6,647

74,465

Net income
247,786

128,502


A reconciliation between TOKIN’s net income and KEMET’s equity investment income for fiscal years 2018 and 2017 are as follows (amounts in thousands):
 
19 Day Period Ended April 19, 2017
 
Fiscal Year March 31, 2017
TOKIN net income
$
247,786

 
$
128,502

KEMET’s equity ownership %
34
%
 
34
%
Equity income from TOKIN before Adjustments
$
84,247

 
$
43,691

 
 
 
 
Adjustments:
 
 
 
Amortization and depreciation
(113
)
 
(2,210
)
Removal of EMD memo accounts
(8,981
)
 

Inventory profit elimination
24

 
162

Equity income from TOKIN
75,177

 
41,643

 
 
 
 
Acquired equity method investment income
1,015

 

Equity income from equity method investments
$
76,192

 
$
41,643

The following table provides a reconciliation of equity method investments to the Company's Consolidated Balance Sheets (amounts in thousands):
 
 
March 31,
 
 
2019
 
2018
Nippon Yttrium Co., Ltd ("NYC")
 
$
8,215

 
$
8,148

NT Sales Co., Ltd ("NTS")
 
1,218

 
998

Novasentis
 
977

 
2,870

KEMET Jianghai Electronics Components Co., Ltd (“KEMET Jianghai”)
 
2,515

 

 
 
$
12,925

 
$
12,016

Schedule of Related Party Transactions
Summarized transactions between TOKIN and NTS are as follows (amounts in thousands):
 
 
Fiscal Year Ended March 31,
 
 
2019
 
2018
KEMET's sales to NTS
 
$
49,740

 
$
52,883

NTS' sales to KEMET
 
2,501

 
1,616

Summarized transactions between KEC and TOKIN are as follows (amounts in thousands):
 
19 Day Period Ended April 19, 2017
 
Fiscal Year March 31, 2017
KEC’s sales to TOKIN
$
727

 
$
17,100

TOKIN’s sales to KEMET
356

 
8,341