Page
No.
|
|
2
|
|
3
|
|
4-5
|
|
6-8
|
|
9-13
|
|
14
|
|
15
|
|
Exhibit:
|
|
16
|
|
17
|
Total
|
AVX
Stock Fund
|
Kyocera
Stock Fund
|
Seligman
Large Cap Value Fund
|
T.
Rowe Price Spectrum Income Fund
|
MainStay
Cash Reserves Fund
|
Templeton
Foreign Fund
|
MainStay
S&P 500 Index Fund
|
Janus
Balanced Fund
|
Janus
Fund
|
Lord
Abbett Mid Cap Value Fund
|
PIMCO
Total Return Fund
|
American
Funds - EuroPacific Growth Fund
|
|||||||||||||
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Investments
at fair value:
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Other
investments (cost $5,278,905)
|
$5,839,909
|
$24,248
|
$22,957
|
$897,913
|
$700,232
|
$2,702,188
|
$267,198
|
$303,293
|
$254,469
|
$219,465
|
$305,819
|
$142,127
|
$---
|
||||||||||||
AVX
Corporation Common Stock (cost $938,327)
|
1,029,621
|
1,029,621
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
||||||||||||
Kyocera
Corporation American Depositary Shares (cost $651,445)
|
872,703
|
---
|
872,703
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
||||||||||||
Total
investments
|
7,742,233
|
1,053,869
|
895,660
|
897,913
|
700,232
|
2,702,188
|
267,198
|
303,293
|
254,469
|
219,465
|
305,819
|
142,127
|
---
|
||||||||||||
Receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Employer
contribution
|
92,268
|
9,354
|
6,480
|
|
12,463
|
|
---
|
|
30,556
|
|
---
|
|
5,127
|
|
7,115
|
|
7,036
|
|
2,822
|
|
5,705
|
5,610
|
|||
Plan
equity
|
$7,834,501
|
$1,063,223
|
$902,140
|
$910,376
|
$700,232
|
$2,732,744
|
$267,198
|
$308,420
|
$261,584
|
$226,501
|
$308,641
|
$147,832
|
$5,610
|
Total
|
AVX
Stock Fund
|
Kyocera
Stock Fund
|
Seligman
Large Cap Value Fund
|
T.
Rowe Price Spectrum Income Fund
|
MainStay
Cash Reserves Fund
|
Templeton
Foreign Fund
|
MainStay
S&P 500 Index Fund
|
Janus
Balanced Fund
|
Janus
Fund
|
Lord
Abbett Mid Cap Value Fund
|
PIMCO
Total Return Fund
|
||||||||||||
ASSETS:
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Investments
at fair value:
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Other
investments (cost $4,775,931)
|
$5,138,644
|
$19,000
|
$12,796
|
$1,113,560
|
$646,096
|
$578,270
|
$684,800
|
$408,935
|
$420,032
|
$196,787
|
$378,598
|
$679,770
|
|||||||||||
AVX
Corporation Common Stock (cost $813,314)
|
885,973
|
885,973
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
|||||||||||
Kyocera
Corporation American Depositary Shares (cost $578,788)
|
606,442
|
---
|
606,442
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
|||||||||||
Total
investments
|
6,631,059
|
904,973
|
619,238
|
1,113,560
|
646,096
|
578,270
|
684,800
|
408,935
|
420,032
|
196,787
|
378,598
|
679,770
|
|||||||||||
Receivable:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Employer
contribution
|
58,370
|
6,702
|
5,595
|
6,186
|
---
|
18,123
|
1,230
|
3,477
|
5,082
|
3,230
|
2,275
|
6,470
|
|||||||||||
Plan
equity
|
$6,689,429
|
$911,675
|
$624,833
|
$1,119,746
|
$646,096
|
$596,393
|
$686,030
|
$412,412
|
$425,114
|
$200,017
|
$380,873
|
$686,240
|
|
Total
|
AVX
Stock Fund
|
Kyocera
Stock Fund
|
Seligman
Large Cap Value Fund
|
T.
Rowe Price Spectrum Income Fund
|
MainStay
Cash Reserves Fund
|
Templeton
Foreign Fund
|
MainStay
S&P 500 Index Fund
|
Janus
Balanced Fund
|
Janus
Fund
|
Lord
Abbett Mid Cap Value Fund
|
PIMCO
Total Return Fund
|
American
Funds - EuroPacific Growth Fund
|
|||||||||||||
Net
investment income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Dividends
|
76,631
|
10,525
|
7,856
|
743
|
30,400
|
---
|
5,348
|
4,844
|
5,085
|
734
|
1,593
|
9,503
|
---
|
|||||||||||||
Interest
|
102,514
|
---
|
---
|
---
|
---
|
102,514
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
|||||||||||||
Net
appreciation (depreciation) in fair value of investments
|
538,984
|
19,688
|
|
196,884
|
|
109,214
|
|
23,736
|
|
---
|
|
57,623
|
|
40,816
|
|
29,666
|
|
21,042
|
|
43,619
|
(3,304)
|
---
|
||||
Total
income (loss)
|
718,129
|
30,213
|
204,740
|
109,957
|
54,136
|
102,514
|
62,971
|
45,660
|
34,751
|
21,776
|
45,212
|
6,199
|
---
|
|||||||||||||
Contributions:
|
||||||||||||||||||||||||||
Employer
|
207,777
|
77,171
|
16,330
|
18,822
|
---
|
43,536
|
1,302
|
8,604
|
12,197
|
10,439
|
5,098
|
8,668
|
5,610
|
|||||||||||||
Employee
|
623,923
|
89,707
|
80,819
|
61,749
|
|
---
|
|
272,844
|
|
17,007
|
|
24,373
|
|
17,508
|
|
23,227
|
|
12,443
|
24,246
|
|
---
|
|||||
Total
contributions
|
831,700
|
166,878
|
97,149
|
80,571
|
---
|
316,380
|
18,309
|
32,977
|
29,705
|
33,666
|
17,541
|
32,914
|
5,610
|
|||||||||||||
Deductions:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Benefit
payments
|
(404,757)
|
(45,543)
|
(24,582)
|
---
|
---
|
|
---
|
|
(44,777)
|
|
(39,248)
|
|
(86,664)
|
|
(28,958)
|
|
(134,985)
|
---
|
---
|
|||||||
Income
(loss) and change in plan equity
|
1,145,072
|
151,548
|
277,307
|
190,528
|
54,136
|
418,894
|
36,503
|
39,389
|
(22,208)
|
26,484
|
(72,232)
|
39,113
|
5,610
|
|||||||||||||
Transfer
of funds from employee investment elections, net
|
---
|
---
|
---
|
(399,898)
|
---
|
1,717,457
|
(455,335)
|
(143,381)
|
(141,322)
|
---
|
---
|
(577,521)
|
---
|
|||||||||||||
Plan
equity at beginning of year
|
6,689,429
|
911,675
|
|
624,833
|
|
1,119,746
|
|
646,096
|
|
596,393
|
|
686,030
|
|
412,412
|
|
425,114
|
|
200,017
|
|
380,873
|
|
686,240
|
---
|
|||
Plan
equity at end of year
|
$7,834,501
|
$1,063,223
|
$902,140
|
$910,376
|
$700,232
|
$2,732,744
|
$267,198
|
$308,420
|
$261,584
|
$226,501
|
$308,641
|
$147,832
|
$5,610
|
|
Total
|
AVX
Stock Fund
|
Kyocera
Stock Fund
|
Seligman
Large Cap Value Fund
|
T.
Rowe Price Spectrum Income Fund
|
Vanguard
Treasury Money Market Fund
|
MainStay
Cash Reserves Fund
|
Templeton
Foreign Fund
|
Vanguard
500 Index Fund
|
MainStay
S&P 500 Index Fund
|
Janus
Balanced Fund
|
Janus
Fund
|
Lord
Abbett Mid Cap Value Fund
|
PIMCO
Total Return Fund
|
||||||||||||||
Net
investment income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dividends
|
$95,933
|
$
9,315
|
$
7,025
|
$
70
|
$
26,530
|
$
---
|
$
---
|
$
10,703
|
$
3,362
|
$
6,282
|
$
7,577
|
$
138
|
$
1,554
|
$
23,377
|
||||||||||||||
Interest
|
16,402
|
---
|
---
|
---
|
---
|
9,184
|
7,218
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
||||||||||||||
Net
appreciation (depreciation) in fair value of investments
|
324,235
|
144,682
|
(30,789)
|
101,759
|
(13,240)
|
---
|
---
|
54,286
|
3,880
|
4,479
|
23,728
|
4,610
|
36,391
|
(5,551)
|
||||||||||||||
Total
income (loss)
|
436,570
|
153,997
|
(23,764)
|
101,829
|
13,290
|
9,184
|
7,218
|
64,989
|
7,242
|
10,761
|
31,305
|
4,748
|
37,945
|
17,826
|
||||||||||||||
Contributions:
|
||||||||||||||||||||||||||||
Employer
|
120,878
|
42,965
|
9,605
|
8,455
|
---
|
6,731
|
18,428
|
1,875
|
3,356
|
3,597
|
8,528
|
4,168
|
2,513
|
10,657
|
||||||||||||||
Employee
|
486,258
|
72,228
|
63,019
|
48,238
|
|
---
|
|
71,595
|
|
21,659
|
|
12,327
|
|
40,784
|
|
13,156
|
|
50,420
|
|
16,738
|
|
10,370
|
|
65,724
|
||||
Total
contributions
|
607,136
|
115,193
|
72,624
|
56,693
|
---
|
78,326
|
40,087
|
14,202
|
44,140
|
16,753
|
58,948
|
20,906
|
12,883
|
76,381
|
||||||||||||||
Deductions:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Benefit
payments
|
(791,698)
|
(93,475)
|
(20,142)
|
(15,639)
|
(1,914)
|
(102,673)
|
---
|
(70,852)
|
(121,775)
|
---
|
(79,899)
|
(83,783)
|
(201,546)
|
---
|
||||||||||||||
Income
(loss) and change in plan equity
|
252,008
|
175,715
|
28,718
|
142,883
|
11,376
|
(15,163)
|
47,305
|
8,339
|
(70,393)
|
27,514
|
10,354
|
(58,129)
|
(150,718)
|
94,207
|
||||||||||||||
Transfer
of funds from employee investment elections, net
|
---
|
1,990
|
(91)
|
33,950
|
(4)
|
(542,848)
|
549,088
|
(36,154)
|
(399,022)
|
384,898
|
(467)
|
(84,645)
|
28,101
|
65,204
|
||||||||||||||
Transfer
of funds from AVX SERP Plan
|
3,757,246
|
255,540
|
403,137
|
532,931
|
301,380
|
381,383
|
---
|
467,346
|
302,620
|
---
|
311,938
|
258,683
|
172,512
|
369,776
|
||||||||||||||
Plan
equity at beginning of year
|
2,680,175
|
478,430
|
193,069
|
409,982
|
333,344
|
176,628
|
---
|
246,499
|
166,795
|
---
|
103,289
|
84,108
|
330,978
|
157,053
|
||||||||||||||
Plan
equity at end of year
|
$6,689,429
|
$911,675
|
$624,833
|
$1,119,746
|
$646,096
|
$
---
|
$596,393
|
$686,030
|
$
---
|
$412,412
|
$425,114
|
$200,017
|
380,873
|
$686,240
|
|
Total
|
AVX
Stock Fund
|
Kyocera
Stock Fund
|
Seligman
Equity Value Portfolio
|
T.
Rowe Price Spectrum Income Fund
|
Vanguard
Treasury Money Market Fund
|
Templeton
Foreign Equity Fund
|
Vanguard
500 Index Fund
|
Janus
Balanced Fund
|
Janus
Fund
|
MFS
Emerging Growth Fund
|
Lord
Abbett Mid Cap Value Fund
|
PIMCO
Total Return Fund
|
|||||||||||||
Net
investment income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Dividends
|
$37,777
|
$6,109
|
$1,271
|
$2,091
|
$13,140
|
$
---
|
$5,218
|
$3,463
|
$2,006
|
$
---
|
$53
|
$958
|
$3,468
|
|||||||||||||
Interest
|
2,148
|
---
|
---
|
---
|
---
|
2,148
|
---
|
---
|
---
|
---
|
---
|
---
|
---
|
|||||||||||||
Net
appreciation (depreciation) in fair value of investments
|
(21,223)
|
(201,338)
|
22,224
|
58,274
|
11,726
|
(309)
|
33,193
|
12,793
|
5,995
|
448
|
474
|
31,406
|
3,891
|
|||||||||||||
Total
income (loss)
|
18,702
|
(195,229)
|
23,495
|
60,365
|
24,866
|
1,839
|
38,411
|
16,256
|
8,001
|
448
|
527
|
32,364
|
7,359
|
|||||||||||||
Contributions:
|
||||||||||||||||||||||||||
Employer
|
113,632
|
26,098
|
12,310
|
13,243
|
---
|
20,377
|
3,330
|
11,110
|
11,329
|
2,396
|
---
|
1,973
|
11,466
|
|||||||||||||
Employee
|
8,756
|
8,756
|
---
|
---
|
|
---
|
|
---
|
|
---
|
|
---
|
|
---
|
|
---
|
|
---
|
|
---
|
|
---
|
||||
Total
contributions
|
122,388
|
34,854
|
12,310
|
13,243
|
---
|
20,377
|
3,330
|
11,110
|
11,329
|
2,396
|
---
|
1,973
|
11,466
|
|||||||||||||
Deductions:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Benefit
payments
|
(286,221)
|
(59,692)
|
(155)
|
(13,106)
|
---
|
(41,333)
|
(16,409)
|
(53,743)
|
(14,446)
|
(78,393)
|
---
|
(8,944)
|
---
|
|||||||||||||
Income
(loss) and change in plan equity
|
(145,131)
|
(220,067)
|
35,650
|
60,502
|
24,866
|
(19,117)
|
25,332
|
(26,377)
|
4,884
|
(75,549)
|
527
|
25,393
|
18,825
|
|||||||||||||
Transfer
of funds from employee investment elections, net
|
---
|
---
|
---
|
(36,783)
|
---
|
---
|
881
|
---
|
---
|
(216,624)
|
(10,093)
|
262,619
|
---
|
|||||||||||||
Plan
equity at beginning of year
|
2,825,306
|
698,497
|
157,381
|
386,301
|
308,478
|
195,745
|
220,286
|
193,172
|
98,405
|
376,281
|
9,566
|
42,966
|
138,228
|
|||||||||||||
Plan
equity at end of year
|
$2,680,175
|
$478,430
|
$193,031
|
$410,020
|
$333,344
|
$176,628
|
$246,499
|
$166,795
|
$103,289
|
$84,108
|
$
---
|
$330,978
|
$157,053
|
1. |
Description
of Plan
|
2. |
Significant
Accounting Policies
|
3. |
Investment
Programs
|
2006
|
2005
|
2004
|
|||
Proceeds
|
$
2,502,750
|
$
4,786,460
|
$1,530,197
|
||
Aggregate
cost
|
2,374,296
|
4,806,648
|
1,786,634
|
||
Realized
gains (losses)
|
128,454
|
(20,188)
|
(256,437)
|
||
Unrealized
appreciation
|
410,530
|
344,423
|
235,214
|
||
Net
appreciation (depreciation) in fair value of investments
|
$
538,984
|
$
324,235
|
$
(21,223)
|
4. |
Nonparticipant-Directed
Investments:
|
December
31,
|
||||
2006
|
2005
|
|||
Net
Assets:
|
||||
MainStay
Cash Reserves Fund
|
$
|
7,428
|
$
|
6,574
|
AVX Corporation Common Stock
|
315,416
|
276,097
|
||
Total
Assets
|
$
|
322,844
|
$
|
282,671
|
Year
Ended
|
|||
December
31, 2006
|
|||
Changes
in Net Assets:
|
|||
Contributions
|
$
|
54,686
|
|
Dividends
|
3,224
|
||
Net appreciation
|
7,359
|
||
Benefits paid to participants
|
(25,096)
|
||
Total
|
$
|
40,173
|
5. |
Plan
Termination
|
2006
|
2005
|
||
Shares
|
9,197
|
8,287
|
|
Market
value per share
|
$94.89
|
$73.18
|
|
Market
value
|
$872,703
|
$606,442
|
2006
|
2005
|
||
Shares
|
69,616
|
61,186
|
|
Market
value per share
|
$14.79
|
$14.48
|
|
Market
value
|
$1,029,621
|
$885,973
|
BY:
|
/s/ Kurt P. Cummings |
Kurt
P. Cummings
|
|
Member
of Administrative Committee
|
|
|
Date:
March 27, 2007
|
Description
|
Number
of shares/units
|
Market
Value
|
Percentage
of Net Assets
|
MainStay
Cash Reserves Fund
|
2,749,394
|
2,749,393
|
35.5%
|
AVX
Stock
|
69,616
|
1,029,621
|
13.3%
|
Seligman
Large Cap Value Fund
|
62,225
|
897,913
|
11.6%
|
Kyocera
Stock
|
9,197
|
872,703
|
11.3%
|
T.
Rowe Price Spectrum Income Fund
|
57,443
|
700,232
|
9.0%
|
Lord
Abbett Mid Cap Value Fund
|
13,653
|
305,819
|
4.0%
|
MainStay
S&P 500 Index Fund
|
9,278
|
303,293
|
3.9%
|
Templeton
Foreign Fund
|
19,589
|
267,198
|
3.5%
|
Janus
Balanced Fund
|
10,425
|
254,469
|
3.3%
|
Janus
Fund
|
7,799
|
219,465
|
2.8%
|
PIMCO
Total Return Fund
|
13,692
|
142,127
|
1.8%
|
Total
Investments
|
|
$7,742,233
|
|