Casio 2012 Annual Report Download - page 39

For 2011:
The Company and its consolidated subsidiaries post impairment loss.
Use Type of assets Location
Business assets used in
the other businesses of
some Group companies
Land, buildings and structures,
machinery, equipment and vehicles, tools,
furniture and fixtures, lease assets, etc.
Chuo City and Fuefuki City,
Yamanashi Pref.
Idle assets Land, buildings and structures, etc. Fujinomiya City and Fuji City,
Shizuoka Pref., and others
With respect to business assets, the Company and its consolidated subsidiaries carry out asset
grouping principally according to its management accounting categories, which are employed to enable
continuous monitoring of the Group’s earnings situation. Idle assets are managed on an individual basis.
The Company and its consolidated subsidiaries have applied impairment accounting to business assets
whose values are deemed to have significantly declined due to deteriorating business environment and
idle assets to make optimal use of these assets in the future. Book value of these assets has been reduced
to recoverable amounts and the reduced amounts (¥646 million) are recognized as “impairment loss.”
The breakdown of the losses is: ¥314 million for land, ¥155 million for buildings and structures, ¥90
million for machinery, equipment and vehicles, and ¥87 million for others.
Recoverable amounts are estimated using net selling prices which are reasonably estimated.
Recoverable amounts for land are calculated based on real estate appraisal values or roadside land prices
and those for other assets are based on estimated disposal values.
18. Business Divestiture
For 2012:
On October 1, 2011 the wafer level package (“WLP”)-related business of the Company and of its consoli-
dated subsidiary Casio Micronics Co., Ltd. was spun off and transferred to Teramikros. Inc., a subsidiary
newly-established for that purpose by the Company. All issued shares in Teramikros. Inc. were then sold
and transferred to Tera Probe, Inc.
Summary of business divestiture
1) Name of the company to which the business in being divested
Tera Probe, Inc.
2) Details of the business divested
WLP-related business
3) Principal reason for business divestiture
As the pursuit of this business by the Casio Group on its own faces constraints on fund procurement,
marketing and other aspects, it has been deemed necessary to pursue this business in collaboration with
other companies, including the transfer of certain business operations, in order to strengthen the Group’s
operational base in this field.
4) Date of business divestiture
October 1, 2011
Summary of accounting procedures
1) Transfer of gain (loss)
¥(1,640) million [$(20,000) thousand]
2) Proper book-value of assets and liabilities employed in the business transferred:
Millions of Yen
Thousands of
U.S. Dollars
Current assets ....................................................................................................... ¥2,006 $24,463
Noncurrent assets ................................................................................................. 2,546 31,049
Total assets ........................................................................................................... 4,552 55,512
Current liabilities ................................................................................................... 1,985 24,208
Noncurrent liabilities ............................................................................................. 345 4,207
Total liabilities ....................................................................................................... 2,330 28,415
3) Reportable segment in which the business divested is included
Others
4) Estimated total income of the business divested in the consolidated income statement for the year
ended March 31, 2012
Net sales ¥3,257 million ($39,720 thousand)
19. Subsequent Events
At the annual shareholders’ meeting held on June 28, 2012, the Company’s shareholders approved the
payment of a cash dividend of ¥17.00 ($0.21) per share aggregating ¥4,571 million ($55,744 thousand)
to registered shareholders as of March 31, 2012.
Profile / Contents To Our
Stakeholders
History Core CompetenceAt a Glance Special Feature CSR Activities
Corporate
Governance Financial Section Corporate Data
Search FReturn Page 38 Next E
CASIO Annual Report 2012
38