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46 Annual Report 2009
Thousands of U.S. dollars
Year ended March 31, 2009
Japan North America Europe Asia Subtotal
Corporate and
eliminations Consolidated
Sales to third parties $3,932,173 $421,377 $901,561 $ 313,030 $5,568,163 $ — $5,568,163
Inter-area sales 829,448 1,928 11,367 728,775 1,571,530 (1,571,530) —
Net sales 4,761,632 423,316 912,938 1,041,806 7,139,704 (1,571,530) 5,568,163
Operating expenses 4,728,204 446,693 887,867 1,025,102 7,087,887 (1,523,897) 5,563,979
Operating income (loss) $ 33,428 $ (23,367) $ 25,061 $ 16,693 $ 51,816 $ (47,632) $ 4,183
Total assets $2,819,428 $148,357 $425,367 $ 266,785 $3,659,959 $ 390,683 $4,050,642
(1) Overseas sales, which include export sales of the Company and its domestic consolidated subsidiaries and sales of the overseas consolidated sub-
sidiaries (other than exports to Japan), totaled ¥181,536 million ($1,852,408 thousand), ¥242,240 million and ¥259,952 million or 33.3%, 33.7%
and 36.2% of consolidated net sales for the years ended March 31, 2009, 2008 and 2007, respectively.
(2) Effective the year ended March 31, 2009, the company adopted the “Accounting Standard for Measurement of Inventories (Statement No.9,
issued by the Accounting Standards Board of Japan on July 5, 2006)”. As a result of this change, operating income decreased by ¥3,670 million
($37,448 thousand) (while operating income decreased by ¥3,670 million ($37,448 thousand) in Japan) for the year ended March 31, 2009 from
the corresponding amounts which would have been recorded under the previous method.
(3) Effective the year ended March 31, 2008, certain domestic consolidated subsidiaries have changed their method of depreciation for property,
plant and equipment acquired on or after April 1, 2007 to reflect the revision to the Corporation Tax Law which went into effect on April 1,
2007. As a result of this change, both operating income and income before income taxes, minority interests and equity in earnings of affiliates
decreased by ¥127 million (while operating income decreased by ¥127 million in Japan) for the year ended March 31, 2008 from the correspond-
ing amounts which would have been recorded under the previous method.
Property, plant and equipment acquired on or before March 31, 2007 are depreciated to their respective memorandum value by the straight-
line method over a period of 5 years from the year following the year in which they have been depreciated down to 5% of acquisition cost. As a
result of this change, both operating income and income before income taxes, minority interests and equity in earnings of affiliates decreased by
¥165 million (while operating income decreased by ¥165 million in Japan) for the year ended March 31, 2008 from the corresponding amounts
which would have been recorded under the previous method.
24.
SUBSEQUENT EVENTS
The Company redeemed the “Zero coupon convertible bonds with stock acquisition rights due 2011” before maturity as resolved by the Board of
Directors of the Company on April 28, 2009.