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46 Nikon Annual Report 2008
17. Net Income Per Share
18. Business Spin-off
19. Subsequent Events
Reconciliation of the differences between basic and diluted net income per share (“EPS”) for the years ended March 31, 2008
and 2007 is as follows:
Millions of Yen Thousands of Shares Yen U.S. Dollars
Weighted Average
Net Income shares EPS
For the year ended March 31, 2008:
Basic EPS
Net income available to common shareholders ¥ 75,484 399,378 ¥ 189.00 $ 1.89
Effect of Dilutive Securities
Warrants (Stock option) 371
Convertible bonds 16,764
Diluted EPS
Net income for computation ¥ 75,484 416,513 ¥ 181.23 $ 1.81
For the year ended March 31, 2007:
Basic EPS
Net income available to common shareholders ¥ 54,825 374,585 ¥ 146.36
Effect of Dilutive Securities
Warrants (Stock option) 305
Convertible bonds 42,290
Diluted EPS
Net income for computation ¥ 54,825 417,180 ¥ 131.42
On April 2, 2007, Tochigi Nikon Precision Co., Ltd., a wholly owned consolidated subsidiary, was spun off from Tochigi
Nikon Corporation, and a new wholly owned consolidated subsidiary, was established to promote the Nikon Group’s in-
house company system firmly, respond to market changes more quickly and strengthen competitiveness and profitability.
The precision equipment business of Tochigi Nikon Corporation was transferred to Tochigi Nikon Precision Co., Ltd.
After this spin-off, Tochigi Nikon Precision Co., Ltd. belongs to the Precision Equipment segment and Tochigi Nikon
Corporation belongs to Imaging segment.
As this spin-off was a transaction under common control, all intercompany transactions were eliminated and there was
no effect of this accounting on the consolidated financial position as of March 31, 2008.
(a) Appropriations of Retained Earnings
The company’s shareholders meeting held on June 27, 2008.
Thousands of
Millions of Yen U.S. Dollars
Cash Dividends, ¥13.50 ($0.13) per share ¥ 5,392 $ 53,816
(b) Treasury Stock
The Company resolved at the meeting of its Board of Directors on May 12, 2008, to acquire its treasury stock under Article
156, as applied pursuant to paragraph 3, Article 165, of the Corporate Law. As a result, the Company acquired 3,713,000
shares valued at ¥11,998 million (¥119,750 thousand) from May 13 to May 21, 2008.
1. Reason for acquisition of treasury stock
The Company decided to acquire its treasury stock to benefit shareholders, improve capital efficiency and ensure a flexible
capital policy.
2. Details of acquisition
(1) Type of shares to be acquired: Common stock
(2) Total number of shares to be acquired: Up to 4 million shares
(3) Type cost of acquisition: Up to ¥12 billion
(4) Period of acquisition: From May 13, 2008 to June 30, 2008
(5) Method of acquisition: Acquired through the Tokyo Stock Exchange