Toyota 2015 Annual Report Download - page 162

TOYOTA MOTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Public and corporate bonds included in available-for-sale represent 43% of Japanese bonds, and 57% of
U.S., European and other bonds as of March 31, 2015, and 37% of Japanese bonds, and 63% of U.S., European
and other bonds as of March 31, 2016. Listed stocks on the Japanese stock markets represent 88% and 90% of
common stocks which are included in available-for-sale as of March 31, 2015 and 2016, respectively. Public and
corporate bonds include government bonds, and “Other” includes investment trusts.
Unrealized losses continuing over a 12 month period or more in the aggregate were not material as of
March 31, 2015 and 2016.
As of March 31, 2015 and 2016, maturities of public and corporate bonds included in available-for-sale are
mainly from 1 to 10 years.
Proceeds from sales of available-for-sale securities were ¥538,894 million, ¥113,348 million and
¥108,708 million for the years ended March 31, 2014, 2015 and 2016, respectively. On those sales, gross realized
gains were ¥25,099 million, ¥17,912 million and ¥9,500 million and gross realized losses were ¥404 million,
¥161 million and ¥365 million, respectively.
During the years ended March 31, 2014, 2015 and 2016, Toyota recognized impairment losses on available-
for-sale securities of ¥6,197 million, ¥2,578 million and ¥9,272 million, respectively, which are included in
“Other income (loss), net” and other in the accompanying consolidated statements of income.
In the ordinary course of business, Toyota maintains long-term investment securities, included in
“Marketable securities and other securities investments” and issued by a number of non-public companies which
are recorded at cost, as their fair values were not readily determinable. Management employs a systematic
methodology to assess the recoverability of such investments by reviewing the financial viability of the
underlying companies and the prevailing market conditions in which these companies operate to determine if
Toyota’s investment in each individual company is impaired and whether the impairment is other-than-
temporary. Toyota periodically performs this impairment test for significant investments recorded at cost. If the
impairment is determined to be other-than-temporary, the carrying value of the investment is written-down by the
impaired amount and the losses are recognized currently in operations.
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