Nikon 2009 Annual Report Download - page 48

46 Nikon Annual Report 2009
16. NET INCOME PER SHARE
Reconciliation of the differences between basic and diluted net income per share (“EPS”) for the years ended March 31, 2009 and 2008
were as follows:
Millions of Yen
Thousands
of shares Yen U.S. Dollars
Net Income
Weighted
Average Shares EPS
For the year ended March 31, 2009:
Basic EPS
Net income available to common shareholders ¥28,056 396,520 ¥70.76 $0.72
Effect of Dilutive Securities
Warrants (Stock Option) 258
Convertible bonds 16,361
Diluted EPS
Net income for computation ¥28,056 413,139 ¥67.91 $0.69
For the year ended March 31, 2008:
Basic EPS
Net income available to common shareholders ¥75,484 399,378 ¥189.00
Effect of Dilutive Securities
Warrants (Stock Option) 371
Convertible bonds 16,764
Diluted EPS
Net income for computation ¥75,484 416,513 ¥181.23
18. SUBSEQUENT EVENTS
(a) Reorganization of Business Locations And Structural
Reform of Nikon’s Precision Equipment Company
Nikon Corporation will implement global business locations
reorganization and structural reform to enhance profit and
competitiveness of their Precision Equipment Company.
Nikon has been implementing, from the beginning of the last
year, various measures such as business expense reduction, capital
expenditure revision with anticipation of deteriorating manage-
ment environment.
The Precision Equipment Company, with IC/LCD Steppers
and Scanners businesses, is facing further severe business condi-
tions amid abrupt and sharp economic decline since the latter half
of the last year. To cope with this environment, it has endeavored
to improve product competitiveness, adjust production, adjust
workforce to an appropriate level, reduce business expense, and
lower fixed cost.
However, judging that further enhancement of business struc-
ture is indispensable under the expected market condition of both
17. BUSINESS SPIN-OFF
On April 2, 2007, Tochigi Nikon Precision Co., Ltd., a wholly
owned consolidated subsidiary, was spun off from Tochigi Nikon
Corporation, a wholly owned consolidated subsidiary. The new
subsidiary was established to promote the Nikon Group’s in-
house company system firmly, respond to market changes quickly
and strengthen competitiveness and profitability. The precision
equipment business of Tochigi Nikon Corporation was trans-
ferred to Tochigi Nikon Precision Co., Ltd.
After this spin-off, Tochigi Nikon Precision Co., Ltd. belongs
to the Precision Equipment Company and Tochigi Nikon Corpo-
ration belongs to the Imaging Company.
As this spin-off was a transaction under common control, all
intercompany transactions were eliminated and there was no
accounting effect of this transaction on the consolidated financial
statements for the year ended March 31, 2008.
On April 1, 2008, Sendai Nikon Precision Co., Ltd., a wholly
owned consolidated subsidiary, was spun off from Sendai Nikon
Corporation, a wholly owned consolidated subsidiary. The new
subsidiary was established to promote the Nikon Group’s in-house
company system firmly, respond to market changes more quickly
and strengthen competitiveness and profitability. The precision
equipment business of Sendai Nikon Corporation was transferred
to Sendai Nikon Precision Co., Ltd.
After this spin-off, Sendai Nikon Precision Co., Ltd. belongs
to the Precision Equipment Company and Sendai Nikon Corpo-
ration belongs to the Imaging Company.
As this spin-off was a transaction under common control, all
intercompany transactions were eliminated and there was no
accounting effect of this transaction on the consolidated financial
statements for the year ended March 31, 2009.