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55
No. 4 INVENTORIES
Inventories at March 31, 2007 and 2006 consisted of the following:
Millions of Yen Thousands of U.S. Dollars
2007 2006 2007
Finished products and merchandise ¥17,453 ¥15,646 $147,844
Semi-finished products and work in process 10,069 9,446 85,294
Raw materials 9,498 6,836 80,457
Supplies 12,702 9,250 107,599
Total ¥49,722 ¥41,178 $421,194
The Group reviewed its long-lived assets for impairment for the
years ended March 31, 2007, 2006 and 2005. As a result, the
Group recognized impairment losses of ¥88 million ($745 thou-
sand), ¥864 million and ¥92 million for the years ended March 31,
2007, 2006 and 2005, respectively, as other expense for a decline
in value, mainly from property of certain plants including the Tokyo
Studio (in Akishima Plant) of the Crystal division, due to a continu-
ous operating loss of that unit. The carrying amount of the relevant
machinery was written down to the recoverable amount, which
was measured at its value in use. The discount rate used for com-
putation of the present value of future cash flows was 5%.
The Group reviewed its long-lived assets for impairment for
the year ended March 31, 2006, and as a result recognized an
impairment loss of ¥369 million ($3,141 thousand) as other
expense for a decline in value of the leased land in Machida-city,
due to a fall of market land prices. The carrying amount of the
relevant land was written down to the recoverable amount, which
was measured at its declared value.
The Group reviewed its long-lived assets for impairment for
the year ended March 31, 2005 and as a result, recognized an
impairment loss of ¥767 million as other expense for a decline in
value, mainly from land of the Photonics division of the Maebashi
Plant due to a close of that unit. The carrying amount of the
relevant property, plant and equipment was written down to the
recoverable amount, which was measured upon consultation of
appraised value of land facing a thoroughfare and sales amount,
among others.
No. 5 IMPAIRMENT OF LONG-LIVED ASSETS
The components of net periodic benefit costs for the years ended March 31, 2007, 2006 and 2005 were as follows:
Millions of Yen Thousands of U.S. Dollars
2007 2006 2005 2007
Additional retirement benefits paid to employees ¥1,055 ¥1,689 ¥843 $8,937
Net periodic benefit costs ¥1,055 ¥1,689 ¥843 $8,937
No. 6 RETIREMENT BENEFITS AND PENSION PLANS