Fujitsu 2003 Annual Report Download - page 39

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37
2. Differences with International Accounting Standards
The differences between the accounting principles and practices adopted by the Group and those prescribed by
International Accounting Standards (“IAS”) are summarized as follows. This information is out of scope of the audit.
Inventories
Under IAS No.2, inventories should be stated at the lower of their historical cost or net realizable value.
Inventories are valued as indicated in the section(h) of “Significant Accounting Policies.” Had IAS No.2 been applied,
the difference in the aggregate value of inventories would not have been significant.
Impairment of Property, plant and equipment
Under IAS No.36, upon impairment of property, plant and equipment, the book value should be devalued to the
recoverable amount.
The impairment rule has not been applied in Japan and therefore the effects on the aggregate value of property, plant
and equipment based on IAS No.36 are not calculated. However, the Group takes into consideration the recoverability of
property, plant and equipment based on future business activities.
Retirement benefits (Note 10)
Under IAS No.19, the period of amortizing the unrecognized net obligation upon application of a new accounting
standard should be less than five years. The accounting procedure for this amortization is indicated in Note 10.
Please refer the corresponding notes for details.
3. U.S. Dollar Amounts
The Company and its consolidated subsidiaries in Japan maintain their books of account in yen. The U.S. dollar amounts
included in the accompanying consolidated financial statements and the notes thereto represent the arithmetic results of
translating yen into U.S. dollars at ¥120 = US$1, the approximate rate of exchange prevailing on March 31, 2003.
The U.S. dollar amounts are presented solely for the convenience of the reader and the translation is not intended to
imply that the assets and liabilities which originated in yen have been or could readily be converted, realized or settled in
U.S. dollars at the above or any other rate.
Yen U.S. Dollars
(millions) (thousands)
2002 2003 2003
Held-to-maturity investments
Carrying value (Amortized cost) ¥1,062 ¥1,509 $ 12,575
Market value 1,006 1,506 12,550
Net unrealized gain (loss) ¥(56) ¥(3) $ (25)
Available-for-sale-securities
Acquisition costs ¥97,991 ¥79,214 $660,117
Carrying value (Market value) 115,616 82,981 691,508
Net unrealized gain ¥17,625 ¥3,767 $ 31,391
4. Marketable Securities
At March 31, 2002 and 2003, marketable securities included in short-term investments and other investments and long-
term loans are as follows: