Casio 2010 Annual Report Download - page 46

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44 CASIO COMPUTER CO., LTD.
(2) Summary of accounting procedures
1) Transfer of gain (loss): ¥0 million
2) Proper book-value of assets and liabilities employed in the business transferred:
Millions of Yen
Current assets ......................................................................................................................................................... ¥1,506
Noncurrent assets ................................................................................................................................................... 5,258
Total assets ............................................................................................................................................................. ¥6,764
Current liabilities ..................................................................................................................................................... ¥ 562
Noncurrent liabilities ............................................................................................................................................... 211
Total liabilities ......................................................................................................................................................... ¥ 773
(3) Income generated from and expenses used for the operations transferred posted in the consolidated statement of operations of
the Company for the year ended March 31, 2009:
Millions of Yen
Net sales ............................................................................................................................................................ ¥1,416
Operating income .............................................................................................................................................. 0
2. Accounting procedures applied to intra-group transactions
Casio Micronics Co., Ltd. became a wholly-owned subsidiary of the Company through share exchange.
(1) Name of the company subject to intra-group transactions and the lines of the business carried out by the company; legal form
of the transaction, name of the company after transaction and outline of the transaction including the transaction purpose
1) Name of company subject to intra-group transaction
Casio Micronics Co., Ltd.
2) Lines of business
Research, development, manufacture and sale of electronics components
(2) Legal form
Share exchange with the purpose of making Casio Micronics a wholly-owned subsidiary of the Company
(3) Name of the company after transaction
Unchanged
(4) Outline of the transaction including the transaction purpose
1) Purpose of the intra-group transaction
The Company believed that the conversion of Casio Micronics into a wholly owned subsidiary through share exchange would create
a framework for rapid and flexible operational reform including possible alliances with other companies in the Bump-processing
business and would benefit the enterprise value of the entire group.
2) Summary of the intra-group transaction
Based on the share exchange contract signed on May 16, 2008, the Company, with August 1, 2008, as date of entry into effect,
arranged the transfer to the Company of all Casio Micronics shares held by Casio Micronics shareholders as of July 31 (excluding
the Company). In return, Casio Micronics’s shareholders (excluding the Company) received allocations of common shares in the
Company, and Casio Micronics became a wholly owned subsidiary of the Company.
3. Accounting procedures for the intra-group transaction
In line with the stipulations in the “Accounting Standard for Business Combinations” and the “Revised Guidance on Accounting
Standard for Business Combinations and Accounting Standard for Business Divestitures (regarding intra-group transactions),” the
Company carried out share exchanges with minority shareholders of Casio Micronics.
4. Additional investments in the subsidiary
(1) Acquisition cost
Millions of Yen
Ordinary shares of the Company ............................................................................................................................. ¥2,062
Acquisition cost ...................................................................................................................................................... 2,062
(2) Share exchange ratio
The Company has allocated 0.4 share of its common stock for every one share of Casio Micronics common stock. There was no
allocation of common stock in Casio Micronics held by the Company.
Notes to Consolidated Financial Statements Years ended March 31, 2010 and 2009 Casio Computer Co., Ltd. and Subsidiaries