Volvo 2009 Annual Report Download - page 92

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Notes to consolidated financial statements
Note 15 Shares and participations
Group holdings of shares and
participations in non-Group companies Registration
number Percentage
holding Dec 31, 2008
Carrying value Dec 31, 2009
Carrying value
Shares in associated companies, equity method of accounting
Blue Chip Jet II HB, Sweden 969717-2105 50 286 284
UD Trucks Doto Corporation, Japan –38 88 83
UD Trucks Niigata Corporation, Japan –34 82 54
Merkavim Metal Works Ltd, Israel –27 54 41
JV Fonderie Venissieux, France –49 38 38
PK-UD Axle Co.,Ltd. (HangZhou), China –45 21 18
Diamond Finance Ltd, Great Britain –40 18 19
Blue Chip Jet HB, Sweden 9 6 96 3 9 -1011 45 17 17
Thomas Hardie Commercials Ltd, Great Britain – – 13 –
Quingdao Sunwin Bus Corp, China –43 9 9
Arabian Vehicle & Truck Industry Ltd, Saudi Arabia –25 9 9
Other holdings – – 17 16
Total shares and participations in associated companies1 652 588
Shares and participations in other companies
Deutz AG, Germany – 7 212 286
Nippon Express Co.,Ltd., Japan – – 138 128
Nishi-Nippon Railroad Co Ltd, Japan – – 57 47
Sankyu Inc., Japan – 1 48 64
Iron Planet.com Inc., USA – 4 34 34
TBK Co.,Ltd., Japan – 7 25 26
Vantage Equipment. LLC, USA –50 19 18
Scott Van Keppel, USA –40 16 14
Other holdings – – 752 839
Total shares and participations in other companies1 1,301 1,456
Total value of Group holdings of shares and participations in
non-Group companies 1,953 2,044
1 Volvo’s share of shareholders’ equity in associated companies (incl. equity in untaxed reserves) amounted to 588 (652).
The carrying value of Volvo’s holdings of shares and participations in listed companies as of December 31, 2009 are shown in the table below.
The carrying value is equal to the market value for holdings in listed companies.
Carrying value
Deutz AG 286
Nippon Express Co.,Ltd., Japan 128
TBK Co.,Ltd., Japan 26
Sankyu Inc., Japan 64
Nishi-Nippon Railroad Co.,Ltd., Japan 47
Nippon Konpo Unyu Soko Co.,Ltd. 23
Fukuyama Transporting Co.,Ltd., Japan 14
Senko Co.,Ltd, Japan 31
Tonami Holdings Co.,Ltd., Japan 16
Yamato Holdings Co.,Ltd., Japan 22
Holdings in other listed companies 50
Total holdings in listed companies 707
Holdings in non-listed companies1749
Total shares and participations in other companies 1,456
1 Unlisted shares, for which a reliable fair value cannot be determined, are
reported at the acquisition value reduced in appropriate cases by write-downs.
Dong Feng Nissan Diesel Motor Co., Ltd
The company is consolidated in the Volvo Group according to the
proportionate method as from July 1, 2008.
FINANCIAL INFORMATION 2009
88