Nikon 2009 Annual Report Download - page 53

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Nikon Annual Report 2009 51
Notes: 1. Prior to April 1, 2008, inventories of the Company and its domestic subsidiaries were stated at cost, determined principally using the average method. In July 2006,
the ASBJ issued ASBJ Statement No. 9, “Accounting Standard for Measurement of Inventories”. This standard requires that inventories held for sale in the ordinary
course of business be measured at the lower of cost or net selling value, which is defined as the selling price less additional estimated manufacturing costs and esti-
mated direct selling expenses. The replacement cost may be used in place of the net selling value, if appropriate. The standard was effective for fiscal years beginning
on or after April 1, 2008.
The Company and its domestic subsidiaries applied this new accounting standard for measurement of inventories effective April 1, 2008. The effect of this change
was to decrease operating income of Japan by ¥11,060 million ($112,592 thousand).
In addition, loss on disposals of inventory and write-down of inventory, which were previously included in non-operating expenses, is included in cost of sales.
The effect of this change was to decrease operating income of Japan by ¥4,230 million ($43,066 thousand), Asia/Oceania by ¥346 million ($3,518 thousand), and
increase operating income of Europe by ¥149 million ($1,518 thousand) respectively.
2. As discussed in Note 2 (b), effective April 1, 2008, the Company applied PITF No. 18, “Practical Solution on Unification of Accounting Policies Applied to Foreign
Subsidiaries for the Consolidated Financial Statements”. The effect of this change was to increase operating income of North America by ¥6,044 million ($61,532
thousand), Asia/Oceania by ¥92 million ($934 thousand), and decrease operating income of Europe by ¥107 million ($1,094 thousand).
(c) Export Sales
For the years ended March 31, 2009 and 2008
Millions of Yen, %
Thousands of
U.S. Dollars
2009 (A)/(B) 2008 (A)/(B) 2009
Export sales (A)
North America ¥261,369 29.7% ¥229,827 24.1% $2,660,783
Europe 208,958 23.7 208,916 21.9 2,127,228
Asia/Oceania 232,034 26.4 244,737 25.5 2,362,152
Other Area 13,677 1.6 13,318 1.4 139,237
Total ¥716,038 81.4% ¥696,798 72.9% $7,289,400
Net sales (B) ¥879,719 ¥955,792 $8,955,707
North America ...................... U.S.A., Canada
Europe ................................... The Netherlands, Germany, United Kingdom, etc.
Asia/Oceania ......................... China, South Korea, Taiwan, Singapore, Australia, etc.
Other Area ............................ Middle & South America, Africa, etc.