Epson 2013 Annual Report Download - page 61

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60
6. Business transfer
The business transfer
As of November 16, 2012, the Company concluded an agreement with Hoya Corporation ("Hoya") about
the transfer of the optical products business of the Company and related subsidiaries to Hoya group. As a
result of this agreement, on February 1, 2013, the Company and related subsidiaries transferred their optical
products business to Hoya Group.
According to the terms of the deal, the two groups' related businesses will be merged and leveraged
worldwide.
Outline of business transfer
Transferred to
Business activities
Date of transfer
Loss on transfer of business
Hoya group
Development, manufacture and sales of eyeglass lenses
February 1, 2013
¥1,790 million ($19,032 thousand)
Transferred carrying amounts of assets and liabilities as of January 31, 2013, were as follows:
Thousands of
Millions of yen
U.S. dollars
Current assets ¥1,224 $13,014
Noncurrent assets 3,317 35,268
Total ¥4,541 $48,282
Current liabilities - -
Noncurrent liabilities - -
Total - -
Accounting treatment
Investments in the transferred optical products business of the Company and related subsidiaries are deemed
as liquidated, and the difference between the market value of proceeds received and the amount of
shareholders' equity corresponding to the transferred business is recognized as the loss on transfer.
Name of the reporting segment in which the business was included
Devices & precision products segment