Konica Minolta 2002 Annual Report Download - page 28
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Please find page 28 of the 2002 Konica Minolta annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.26 Konica 2002
In cases where the fair value of equity securities issued by
unconsolidated subsidiaries and affiliates, or other securities has
declined significantly and such impairment of the value is not
deemed temporary, those securities are written down to the fair
value and the resulting losses are included in net profit or loss for
the period.
Hedge Accounting
Gains or losses arising from changes in fair value of the derivatives
designated as “hedging instruments” are deferred as an asset or lia-
bility and included in net profit or loss in the same period during
which the gains and losses on the hedged items or transactions are
recognized.
The derivatives designated as hedging instruments by the
Company are principally interest swaps, commodity swaps and
forward exchange contracts. The related hedged items are trade
accounts receivable and payable, raw materials, long-term bank
loans, and debt securities issued by the Company.
The Company has a policy to utilize the above hedging instru-
ments in order to reduce the Company’s exposure to the risk of
interest rate fluctuation. Thus, the Company’s purchases of the
hedging instruments are limited to, at maximum, the amounts of
the hedged items.
The Company evaluates effectiveness of its hedging activities
by reference to the accumulated gains or losses on the hedging
instruments and the related hedged items from the commencement
of the hedges.
(i) Accrued Retirement Benefits
Effective from the year ended March 31, 2001, the Company and
its subsidiaries adopted the new Japanese accounting standard for
retirement benefits, which was effective for periods beginning on
or after April 1, 2000. In accordance with the new standard, the
reserve for retirement benefits as of March 31, 2001 represented the
estimated present value of projected benefit obligations in excess of
the fair value of the plan assets except that, as permitted under the
new standard, the unrecognized transition amount arising from
adopting the new standard of ¥27,929 million (US$225,416 thou-
sand) included the amount of ¥22,096 million (US$178,337 thou-
sand) that was fully amortized on the establishment of the trust for
retirement benefit at April 1, 2000.
The remaining amount of ¥5,833 million (US$47,079 thou-
sand) is being amortized on a straight-line basis over 5 years. The
unrecognized actuarial differences are being amortized on a
straight-line basis mainly over the period of 10 years from the next
year in which they arise.
(j) Per Share Data
Net income per share of common stock has been computed based
on the weighted average number of shares outstanding during the
year.
Cash dividends per share shown for each year in the accompa-
nying consolidated statements are dividends declared as applicable
to the respective years.
3. U.S. Dollar Amounts
Amounts in U.S. dollars are included solely for the convenience of
readers outside Japan. The rate of ¥133.20=US$1, the rate of
exchange on March 29, 2002, has been used in translation. The
inclusion of such amounts is not intended to imply that Japanese
yen have been or could be readily converted, realized or settled in
U.S. dollars at this rate or any other rate.
4. Cash and Cash Equivalents
Cash and cash equivalents consisted of:
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
Cash and bank deposits ¥47,359 ¥55,492 $355,548
Money management funds 300 1,081 2,252
Cash and cash equivalents ¥47,659 ¥56,573 $357,800
5. Securities
As of March 31, 2002
(a) Other Securities with Quoted Market Values
Millions of yen
Market value
Original at the con- Unrealized
purchase solidated balance gains or
value sheet date losses
Securities for which the amounts in the consolidated balance sheets exceed
the original purchase value
(1) Shares ¥5,319 ¥ 7,620 ¥2,301
(2) Other — — —
Subtotal 5,319 7,620 2,301
Securities for which the amounts in the consolidated balance sheets do not
exceed the original purchase value
(1) Shares 3,697 2,876 (820)
(2) Other 98 91 (6)
Subtotal 3,796 2,968 (827)
Total ¥9,116 ¥10,589 ¥1,473
Thousands of U.S. dollars
Total $68,438 $79,497 $11,059
(b) Other Securities Sold During the Fiscal Year Under Review
Millions of yen
Sale value Total profit Total loss
Other securities ¥1,182 ¥278 ¥6
Thousands of U.S. dollars
Other securities $8,874 $2,087 $45
(c) Composition and Amounts on the Consolidated Balance
Sheets of Other Securities Without Market Quotes
Amounts on consolidated balance sheets
Thousands of
Millions of yen U.S. dollars
Money management funds ¥300 $2,252
Unlisted stocks 615 4,617
Unlisted foreign bonds 586 4,399
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