Nikon 2010 Annual Report Download - page 44

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42
9. Stock Option
The stock options outstanding as of March 31, 2010 and 2009 were as follows:
Stock Options
Persons
Granted
Number of
Options Granted
Date of
Grant
Exercise
Price Exercise Period
2001 Stock Options 9 directors 99,000 shares 2001.6.28 ¥1,321 From June 29, 2003
13 offi cers To June 28, 2011
2003 Stock Options 11 directors 203,000 shares 2003.6.27 ¥1,048 From June 28, 2005
11 offi cers To June 27, 2013
2004 Stock Options 12 directors 210,000 shares 2004.6.29 ¥1,225 From June 30, 2006
10 offi cers To June 29, 2014
2005 Stock Options 11 directors 178,000 shares 2005.6.29 ¥1,273 From June 30, 2007
10 offi cers To June 29, 2015
2007 Stock Options 12 directors 99,000 shares 2007.3.14 ¥2,902 From February 28, 2009
12 offi cers To February 27, 2017
2007 Stock Options 8 directors 26,100 shares 2007.8.27 ¥ 1 From August 28, 2007
15 offi cers To August 27, 2037
2008 Stock Options 8 directors 117,900 shares 2008.11.25 ¥ 1 From November 26, 2008
16 offi cers To November 25, 2038
2009 Stock Options 9 directors 68,100 shares 2009.8.10 ¥ 1 From August 11, 2009
15 offi cers To August 10, 2039
(b) Increases/Decreases and Transfer of Common Stock, Reserve
and Surplus
The Companies Act requires that an amount equal to 10% of dividends
must be appropriated as a legal reserve (a component of retained
earnings) or as additional paid-in capital (a component of capital surplus)
depending on the equity account charged upon the payment of such
dividends until the total of aggregate amount of legal reserve and
additional paid-in capital equals 25% of the common stock. Under the
Companies Act, the total amount of additional paid-in capital and legal
reserve may be reversed without limitation. The Companies Act also
provides that common stock, legal reserve, additional paid-in capital,
other capital surplus and retained earnings can be transferred among the
accounts under certain conditions upon resolution of the shareholders.
(c) Treasury Stock and Treasury Stock Acquisition Rights
The Companies Act also provides for companies to purchase treasury
stock and dispose of such treasury stock by resolution of the Board
of Directors. The amount of treasury stock purchased cannot exceed
the amount available for distribution to the shareholders which is
determined by specifi c formula.
Under the Companies Act, stock acquisition rights are presented as
a separate component of equity.
The Companies Act also provides that companies can purchase both
treasury stock acquisition rights and treasury stock. Such treasury
stock acquisition rights are presented as a separate component of
equity or deducted directly from stock acquisition rights.