Epson 2011 Annual Report Download - page 28

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27
total net assets decreased by ¥12,056 million compared to the end of the previous period, mainly because of a
-¥63,812 million foreign currency translation adjustment, a decline of ¥16,106 million, due to the appreciation of
the yen versus the euro and US dollar.
Working capital, defined as current assets less current liabilities, was ¥228,108 million, a decrease of ¥39,450
million compared with March 31, 2011.
The ratio of interest-bearing liabilities to total assets declined to 34.1% from 35.8% at the end of the previous
fiscal year.