JVC 2007 Annual Report Download - page 45

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43
Thousands of U.S. dollars
Acquisition
cost Book value Difference
2007:
Securities with available fair values exceeding acquisition costs:
Equity securities $8,483 $46,483 $38,000
Securities with available fair values not exceeding acquisition costs:
Equity securities 3,373 3,178 (195)
Total $11,856 $49,661 $37,805
The following tables summarize book values as of March 31, 2007 and 2006 of securities with no available fair values.
(2) Securities with no available fair values
Thousands of
Millions of yen U.S. dollars
2007 2006 2007
Book value Book value Book value
1. Available-for-sale securities
Unlisted equity securities ¥0,947 ¥1,195 $08,025
Unlisted foreign debt securities 7759
2. Subsidiaries and affiliated companies 347 285 2,941
Total ¥1,301 ¥1,487 $11,025
(3) Available-for-sale securities sold in each of the years ended March 31, 2007, 2006 and 2005 are as follows:
Thousands of
Millions of yen U.S. dollars
2007 2006 2005 2007
Sales ¥5,242 ¥36 ¥5,541 $44,424
Gains 3,620 23,911 30,678
Losses 12 07 102
7OTHER EXPENSES
In the fiscal year ended March 31, 2006, subsidiaries with the fiscal year-end of December 31 closed their books and
prepared their financial statements for consolidation purposes as of the consolidated fiscal year-end of March 31.
While the consolidated results of operations for the year ended March 31, 2006 include 15 months of operations from
January 1, 2005 to March 31, 2006 for these subsidiaries, net loss for the stub period from January 1, 2005 to March
31, 2005 for these subsidiaries amounting to ¥1,451 million is included in “Other, net” as a lump-sum loss amount.
8INCOME TAXES
Income taxes in Japan consist of corporation, enterprise and inhabitants’ taxes which, in the aggregate, result in the
statutory tax rates of approximately 40.6% for the years ended March 31, 2007, 2006 and 2005. Consolidated over-
seas subsidiaries are subject to income taxes regulation of the countries in which they domicile.
The following table summarizes the significant differences between the statutory tax rate and the Companies’
effective tax rate for financial statement purposes for the years ended March 31, 2007 and 2005.