Panasonic 2008 Annual Report Download - page 83

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Gross unrealized holding losses on investment securities and the fair value of the related securities, aggregated by
investment category and length of time that individual securities have been in a continuous unrealized loss position,
at March 31, 2008 and 2007, are as follows:
2008
Millions of yen
Less than 12 months 12 months or more Total
Fair value
Unrealized
losses Fair value
Unrealized
losses Fair value
Unrealized
losses
Equity securities ......................................... ¥82,481 ¥15,560 ¥ — ¥ — ¥82,481 ¥15,560
Convertible and straight bonds ................... 1,824 28 — — 1,824 28
Other debt securities .................................. 5,407 93 — — 5,407 93
¥89,712 ¥15,681 ¥ — ¥ — ¥89,712 ¥15,681
2007
Millions of yen
Less than 12 months 12 months or more Total
Fair value
Unrealized
losses Fair value
Unrealized
losses Fair value
Unrealized
losses
Equity securities ......................................... ¥ 9,229 ¥ 531 ¥ — ¥ — ¥ 9,229 ¥ 531
Japanese and foreign government bonds ... 19,977 6 — — 19,977 6
Convertible and straight bonds ................... 1,839 13 — — 1,839 13
¥31,045 ¥ 550 ¥ — ¥ — ¥31,045 ¥ 550
The gross unrealized loss position has been continuing for a relatively short period of time. Based on this and
other relevant factors, management has determined that these investments are not considered other-than-temporarily
impaired. The Company has not held unrealized losses for twelve months or more at March 31, 2008 and 2007.
The carrying amounts of the Company’s cost method
investments totaled 29,837 million yen and 31,465
million yen at March 31, 2008 and 2007. For invest-
ments with an aggregate cost of 29,814 million yen
and 29,639 million yen at March 31, 2008 and 2007,
respectively, the Company estimated that the fair value
exceeded the carrying amounts of investments (that is,
the investments were not impaired). For the years ended
March 31, 2008, 2007 and 2006, the remaining invest-
ments were considered other-than-temporarily impaired,
resulting in a write-down of 172 million yen, 2,209
million yen and 4,153 million yen, respectively.
At March 31, 2008, equity securities with a book
value of 19,880 million yen was pledged as collateral for
the deferred payments of certain taxes based on the
Japanese Custom Act and Consumption Tax Law.
Matsushita Electric Industrial Co., Ltd. 2008 81