Adidas 2001 Annual Report Download - page 85

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80 Consolidated Accounts
17. Minority Interests
Minority interests are attributable to 12 subsidiaries as at December 31,
2001 and 2000, respectively (see Attachment II to these Notes).
These subsidiaries had been mainly set up together with former inde-
pendent distributors and licensees for the adidas brand. Salomon & Taylor
Made Co., Ltd., Tokyo (Japan) is a public company, which is listed on
the Tokyo Stock Exchange since 1995.
Minority interests evolved as follows in the years ended December 31,
2001 and 2000, respectively:
18. Shareholders’ Equity
The nominal capital amounts to €116,093,952 and is divided into
45,349,200 no-par-value shares.
By resolution of the Shareholders’ Meeting held on May 10, 2001,
the shareholders of adidas-Salomon AG approved a further contingent
capital increase pursuant to § 4 section 6 of the Articles of Association.
The former sections 6, 7, 8 and 9 of § 4 of the Articles of Association
thus became sections 7, 8, 9 and 10.
The corresponding changes to the Articles of Association were entered
into the Commercial Register on July 31, 2001.
Authorized Capital
Pursuant to § 4 sections 2 to 4 of the Articles of Association of adidas-
Salomon AG, the Executive Board shall be entitled, subject to Super-
visory Board approval, to increase the nominal capital
until July 26, 2005
• by issuing new shares against contributions in cash once or several
times by no more than €42,800,000 altogether and, subject to Super-
visory Board approval, to exclude fractional shares from shareholders’
subscription rights (authorized capital I); and
• by issuing new shares against contributions in cash once or several
times by no more than €8,000,000 altogether and, subject to Super-
visory Board approval, to exclude shareholders’ subscription rights as
far as fractional shares are concerned or when issuing new shares at a
value not essentially below stock exchange value (authorized capital II);
Dec. 31 Dec. 31
(euros in thousands) 2001 2000
Minority interests as at January 1 89,750 63,425
Translation differences (1,387) (1,505)
Effect of adopting IAS 39, net of tax 108 –
Changes in companies consolidated – 500
Capital injections – 344
Acquisition of minority interests – 225
Shares sold to third parties 129 4,126
Share in net profit 20,906 25,327
Dividends to third parties (51,349) (2,692)
Minority interests as at December 31 58,157 89,750