Summarized financial information for TOKIN follows (in thousands):



	March 31, 2017		March 31, 2016
Current assets continuing operations	$	204,654	$	199,527
Assets held for sale (current) (1)	118,983		43,146
Noncurrent assets continuing operations	285,952		188,925
Assets held for sale (noncurrent) (1)	—		72,360
Current liabilities continuing operations	375,433		146,207
Liabilities held for sale (current) (1)	50,008		36,078
Noncurrent liabilities continuing operations	65,657		313,768
Liabilities held for sale (noncurrent) (1)	—		21,720

(1) As discussed in Note 19, “Subsequent Events,” TOKIN sold its EMD business on April 14, 2017.



	Fiscal Year March 31, 2017		Fiscal Year March 31, 2016			Fiscal Year March 31, 2015
Net sales	$	328,822	$	301,898		$	321,540
Gross profit	74,465		67,409			66,722
Net income (loss) from continuing operations	106,103		(54,575		)	(43,085		)
Net income (loss) from discontinued operations (1)	22,399		11,580			18,994
Net income (loss)	128,502		(42,995		)	(24,091		)

(1) As discussed in Note 19, “Subsequent Events,” TOKIN sold its EMD business on April 14, 2017.

A reconciliation between TOKIN’s net loss and KEMET’s equity investment income (loss) follows (in thousands):



	Fiscal Year March 31, 2017			Fiscal Year March 31, 2016			Fiscal Year March 31, 2015
TOKIN net income (loss)	$	128,502		$	(42,995	)	$	(24,091	)
KEMET’s equity ownership %	34		%	34		%	34		%
Equity income (loss) from TOKIN before Adjustments	$	43,691		$	(14,618	)	$	(8,191	)

Adjustments:
Amortization and depreciation	(2,210		)	(1,625		)	(2,270		)
Indemnity asset	—			—			8,500
Inventory profit elimination	162			(163		)	(208		)
Equity income (loss) from TOKIN	$	41,643		$	(16,406	)	$	(2,169	)

A reconciliation between TOKIN’s net assets and KEMET’s equity investment balance follows (amounts in thousands):



	March 31, 2017			March 31, 2016
Investment in TOKIN	$	63,416		$	20,334
Purchase price accounting basis adjustment:
Property, plant and equipment (1)	3,080			3,365
Technology (1)	(8,691		)	(10,134		)
Long-term debt (1)	(1,067		)	(1,975		)
Goodwill	(7,590		)	(7,555		)
Indemnity asset for legal investigation	(8,500		)	(8,500		)
Inventory profit elimination (2)	208			371
Other	(569		)	(603		)
KEMET’s 34% interest of TOKIN’s equity	$	40,287		$	(4,697	)


(1)	Depreciated or amortized over the estimated lives.


(2)	Adjusted each period for any activity.