Fujitsu 2012 Annual Report Download - page 115

* The Company’s consolidated subsidiaries outside of Japan have to date applied the corridor approach for recognizing a portion of actuarial gains and losses as an
expense. Under the corridor approach, when the net cumulative unrecognized actuarial gains and losses at the end of the previous fiscal year exceed the greater
of 10% of the present value of the defined benefit obligation or 10% of the fair value of plan assets, the excess amount is recognized as an expense over the
expected average remaining service lives of employees.
The amendment to IAS 19 does not allow recycling of actuarial gains and losses held by the Company’s consolidated subsidiaries outside of Japan to the income
statement. However, in the process of the Group’s consolidation, these are periodically recognized as an expense over the expected average remaining service lives
of employees, in line with the “Practical Solution on Unification of Accounting Policies Applied to Foreign Subsidiaries for Consolidated Financial Statements.” The
accounting standard requires retrospective application. The Group will therefore restate the corresponding financial statement for the year ending March 31, 2013
incorporating adjustments for the impact of the adoption of this standard.
2. U.S. Dollar Amounts
The Company and its consolidated subsidiaries in Japan maintain their books of account in yen. The U.S. dollar amounts included in the
accompanying consolidated financial statements and the notes thereto represent the arithmetic results of translating yen into U.S.
dollars at ¥82 = US$1, the approximate exchange rate at March 31, 2012.
The U.S. dollar amounts are presented solely for the convenience of readers and the translation is not intended to imply that the
assets and liabilities which originated in yen have been or could readily be converted, realized or settled in U.S. dollars at the above or
any other rate.
3. Inventories
Inventories at March 31, 2011 and 2012 consist of the following:
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2011 2012 2012
Finished goods ¥150,685 ¥139,162 $1,697,098
Work in process 112,995 106,268 1,295,951
Raw materials and supplies 77,758 88,686 1,081,537
Total inventories ¥341,438 ¥334,116 $4,074,585
Amounts above are net of write-downs.
The amounts of write-downs recognized as cost of sales for the years ended March 31, 2011 and 2012 were ¥22,545 million and
¥17,730 million ($216,220 thousand) respectively.
4. Property, Plant and Equipment
Changes in property, plant and equipment, net of accumulated depreciation (including lease assets) are as follows:
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2011 2012 2012
Land
Balance at beginning of year ¥119,530 ¥117,481 $1,432,695
Additions 1,505 601 7,329
Impairment loss 1,255 1,477 18,012
Translation differences (525) (269) (3,280)
Other, net (1,774) (722) (8,805)
Balance at end of year ¥117,481 ¥115,614 $1,409,927
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FUJITSU LIMITED ANNUAL REPORT 2012
Facts & Figures