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56 mitsubishi motors corporation annual report 2008
Proceeds from sales of other securities and the corresponding gross gains and losses that are included in other gain (loss), net in the
accompanying consolidated statements of operations for the years ended March 31, 2008 and 2007 were as follows:
In millions of yen
In thousands of
U.S. dollars
2008 2007 2008
Proceeds ¥482 ¥4,501 $4,819
Gross gains 183 2,040 1,827
Gross losses (0) 157 (3)
Significant declines in the value of securities with market value are recognized as impairment losses if the decline is not considered to
be recoverable. After the write down of the impaired amount, a new book value is established. Similarly, significant declines in the value
of securities without market value are recognized as impairment losses. Losses recognized on the impairment of securities without market
value totaled ¥45 million ($455 thousand) and ¥334 million for the years ended March 31, 2008 and 2007, respectively.
Investments in unconsolidated subsidiaries and affiliated companies, and investments in securities at March 31, 2008 and 2007 were
as follows:
In millions of yen
In thousands of
U.S. dollars
2008 2007 2008
Investments in unconsolidated subsidiaries and
affiliated companies ¥55,450 ¥41,894 $553,450
Investments in securities 37,570 48,244 374,996
¥93,021 ¥90,138 $928,446
6. Accrued Expenses, Accounts Payable and Deferred Income
Accrued expenses, accounts payable and deferred income at March 31, 2008 and 2007 were as follows:
In millions of yen
In thousands of
U.S. dollars
2008 2007 2008
Accrued expenses and accounts payable ¥178,508 ¥194,941 $1,781,702
Allowance for product warranties 50,320 53,213 502,253
Deferred income 1,921 2,567 19,176
¥230,750 ¥250,722 $2,303,132