Nissan 2007 Annual Report Download - page 63

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FINANCIAL SECTION»
Nissan Annual Report 2006-2007 61
10. NET ASSETS (SHAREHOLDERS’ EQUITY)
The new Company Law of Japan (the “Law”), which superseded most of the provisions of the Commercial Code of Japan, went into effect on
May 1, 2006. The Law provides that an amount equal to 10% of the amount to be distributed as distributions of capital surplus (other than the
capital reserve) and retained earnings (other than the legal reserve) be transferred to the capital reserve and the legal reserve. respectively, until
the sum of the capital reserve and the legal reserve equals 25% of the common stock account. Such distributions can be made at any time by
resolution of the shareholders, or by the Board of Directors if certain conditions are met, but neither the capital reserve nor the legal reserve is
available for distributions.
(1) Information regarding changes in net assets for the year ended March 31, 2007 is as follows:
a. Shares issued and outstanding / Treasury stock
Thousands of shares
Number of shares Number of shares
Types of share at March 31, 2006 Increase Decrease at March 31, 2007
Shares issued:
Common stock.................................................................................................................................... 4,520,715 — — 4,520,715
Treasury stock:
Common stock (Notes 1 and 2) ........................................................................................................ 422,763 16,193 29,659 409,297
(Thousands of shares)
Notes: 1. Details of the increase are as follows:
Increase in stocks held by affiliates accounted for by the equity method 8,337
Increase due to purchase of the stocks 7,810
Increase due to purchase of the stocks of less than standard unit 46
2. Details of the decrease are as follows:
Decrease due to exercising share subscription rights 29,657
Decrease in stocks held by affiliates accounted for by the equity method 2
b. Share subscription rights
Number of shares to be issued (in thousands)
Common stock
15,937 — 15,937 — — —
Parent company Common stock
44,703 — 11,625 33,078 ¥1,674 $14,187
— 1,037 8,788
Total — ¥2,711 $22,975
Notes: 1. The decrease of Euro-yen bonds with warrants due 2007 reflects the exercise of the warrants.
2. The decrease of Euro-yen bonds with warrants due 2008 reflects the exercise of part of the warrants.
DescriptionCompany
Type of
shares to be
issued
Number of
shares at
March 31,
2006 Increase Decrease
Number of
shares at
March 31,
2007
Balance at
March 31,
2007
(Millions of
yen)
Balance at
the end of
the current
fiscal year
(Thousands of
U.S. dollars)
Euro-yen bonds
with warrants
due 2007 (Note 1)
Euro-yen bonds
with warrants
due 2008 (Note 2)
Share subscrip-
tion rights as
stock options