Epson 2011 Annual Report Download - page 60

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59
assets of the small- and medium-sized display front-end process manufacturing-related business operated by its
subsidiary, Epson Imaging Devices Corporation ("Epson Imaging"). Epson has now determined that it would
also be beneficial to transfer Suzhou Epson, which undertook the back-end and touch panel assembly processes
of Epson Imaging's display business, to the Sony Group.
Outline of transfer
Transferred to: Sony (China) Limited
Outline of Suzhou Epson:
Company name Suzhou Epson Co., Ltd.
Business activities Production of small-and medium-sized TFT LCD displays
Net sales ¥59,913 million ($720,541 thousand) (fiscal year ended March 31, 2011)
Total assets ¥19,443 million ($233,830 thousand) (as of March 31, 2011)
Total liabilities ¥8,034 million ($96,620 thousand) (as of March 31, 2011)
Ownership before transfer Seiko Epson Corporation 100% (including indirect ownership)
Agreed-upon purchase price and date of transfer:
Agreed-upon purchase price CNY 775 million (¥9,827 million, calculated at the foreign exchange
rate as of March 31, 2011; $118,184 thousand)
Ownership after transfer -%
Date of transfer Planned for the first half of the fiscal year ending March 31, 2012
The business transferred was included in the electronic devices segment.
6. Inventories
Losses recognized and charged to cost of sales as a result of valuations as of March 31, 2010 and 2011, were
¥30,115 million and ¥30,654 million ($368,659 thousand), respectively.
7. Investments in debt and equity securities
Epson classifies all investments in debt and equity securities as either held-to-maturity debt securities or other
securities.
The market value (carrying value) of held-to-maturity debt securities, which was recognized at amortized cost
and included in the short-term investments and investment securities accounts at March 31, 2011, comprised the
following:
Held-to-maturity debt securities
March 31, 2011
Millions of yen Thousands of U.S. dollars
Commercial paper ¥9,999 $120,253