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78 mitsubishi motors corporation annual report 2008
(2) Size and fluctuation of stock options
Outstanding stock options during the year ended March 31, 2007 converted to numbers of shares are as follows.
March 31, 2007
Non-vested(number of shares):
Outstanding at the beginning of the year: —
Granted during the year: —
Forfeited during the year: —
Vested during the year: —
Outstanding at the end of the year: —
Vested(number of shares):
Outstanding at the beginning of the year: 1,168,000
Vested during the year: —
Exercised during the year: 64,000
Forfeited during the year: 16,000
Outstanding at the end of the year: 1,088,000
Exercise price: ¥173
Weighted-average market price at exercise date: ¥240
Fair evaluation price: —
21. Business Combinations
During the year ended March 31, 2008, in order to achieve “customer’s of satisfaction to top level of the industry and the improvement of
profit rate” and “Realization of an early stage profitability turnaround of domestic business”, MMC reorganized its consolidated subsidiar-
ies as follows.
1. Business of the entities combined:
Sale of vehicles, etc
2. Description of business of the entities combined:
Sale of vehicles, etc
3. Legal form of business combination:
Absorption by surviving company
4. Corporate name before and after the business combinations on April 1, 2007:
April 1, 2007
Corporate name before the business combination Corporate name after the business combination
Surviving company: Hokkaido Mitsubishi Motors Sales Co., Ltd. Hokkaido Mitsubishi Motors Sales Co., Ltd.
Non-surviving companies: Sapporo Mitsubishi Motors Sales Co., Ltd.
Iwamizawa Mitsubishi Motors Sales Co., Ltd.
Sorachi Mitsubishi Motors Sales Co., Ltd.