Epson 2012 Annual Report Download - page 59

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58
(19) Dividends
Dividends are charged to retained earnings in the fiscal year in which they are paid after approval by
shareholders. In addition to year-end dividends, the board of directors may declare interim cash dividends by
resolution to the registered shareholders as of September 30 of each year.
(20) Accounting Standard for Accounting Changes and Error Corrections
Effective from the year ended March 31, 2012, Epson adapted the Accounting Standards Board of Japan
(“ASBJ”) Statement No. 24, “the Accounting Standard for Accounting Changes and Error Corrections” and its
Guidance No.24, “the Guidance on Accounting Standard for Accounting Changes and Error Corrections” which
was issued on December 4, 2009.
4. U.S. dollar amounts
U.S. dollar amounts presented in the accompanying consolidated financial statements and in these notes are
included solely for the convenience of readers. These translations should not be construed as representations that
the yen amounts actually represent, or have been or could be converted into U.S. dollars at that or any other rate.
As the amounts shown in U.S. dollars are for convenience only, a rate of ¥82.19 = U.S.$1, the exchange rate
prevailing as of March 31, 2012, has been used.
5. Business transfer
The subsidiary’s equity transfer
As of February 2, 2011, the Company and Sony Corporation executed an agreement for transferring all of the
equity of its subsidiary, Suzhou Epson Co., Ltd. (“Suzhou Epson”), to the Sony Group. The Company, as of July
1, 2011, transferred Suzhou Epson to the Sony Group. As part of its SE15 long-range corporate vision and
mid-range business plan, Epson is completing business structure reforms in its small- and medium-sized TFT
LCD business. In implementing these reforms, in April 2010, Epson transferred to the Sony Group certain assets
of the small- and medium-sized display front-end process manufacturing-related business operated by its
subsidiary, Epson Imaging Devices Corporation (“Epson Imaging”). Epson has determined that it would also be
beneficial to transfer Suzhou Epson, which undertook the back-end and touch panel assembly processes of
Epson Imaging's display business, to the Sony Group.