Pentax 2004 Annual Report Download - page 61

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59
No»16 DERIVATIVES
The Group enters into foreign currency forward contracts to hedge foreign currency exchange risk associated with certain assets and
liabilities denominated in foreign currencies.
All derivative transactions are entered into to hedge foreign currency exposures incorporated within its business. Accordingly, market
risk in these derivatives is basically offset by opposite movements in the value of hedged assets or liabilities.
Because the counterparties to these derivatives are limited to major international financial institutions, the Group does not anticipate
any losses arising from credit risk.
Derivative transactions entered into by the Group have been made in accordance with internal policies which regulate the authorization
and credit limit amount.
Foreign currency forward contracts which qualify for hedge accounting for the years ended March 31, 2004 and 2003 and such
amounts which are assigned to the associated assets or liabilities and are recorded on the balance sheets at March 31, 2004 and 2003, are
not subject to disclosure of market value information.
No»17 NET INCOME PER SHARE
Reconciliation of the differences between basic and diluted net income per share ("EPS") for the years ended March 31, 2004, 2003 and
2002 is as follows:
Thousands of
Millions of Yen Shares Yen U.S. Dollars
Weighted-Average
Net Income Shares EPS
Year ended March 31, 2004:
Basic EPS
Net income available to common shareholders ¥39,500 112,545 ¥350.96 $3.31
Effect of dilutive securities
Stock options 129
Diluted EPS
Net income for computation ¥39,500 112,674 ¥350.56 $3.31
Year ended March 31, 2003:
Basic EPS
Net income available to common shareholders ¥19,851 116,014 ¥171.10
Effect of dilutive securities
Stock options 14
Diluted EPS
Net income for computation ¥19,851 116,028 ¥171.08
Year ended March 31, 2002:
Basic EPS
Net income available to common shareholders ¥23,591 116,123 ¥203.15