Nikon 2011 Annual Report Download - page 42

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swaps which qualify for hedge accounting and meet specific
matching criteria are not remeasured at market value, but
the differential paid or received under the swap agreements
are recognized and included in interest expense or income.
(u) Per Share Information
Basic net income per share is computed by dividing net
income available to common shareholders by the weighted-
average number of common shares outstanding for the
period, retroactively adjusted for stock splits.
Diluted net income per share reflects the potential dilution
that could occur if securities were exercised or converted into
common stock. Diluted net income per share of common
stock assumes full conversion of the outstanding convertible
notes and bonds at the beginning of the year (or at the time of
issuance) with an applicable adjustment for related interest
expense, net of tax, and full exercise of outstanding warrants.
Cash dividends per share presented in the accompanying
consolidated statements of operations are dividends appli-
cable to the respective years including dividends to be paid
after the end of the year.
(v) New Accounting Pronouncements
Accounting Changes and Error Corrections —In December
2009, ASBJ issued ASBJ Statement No. 24, “Accounting Stan-
dard for Accounting Changes and Error Corrections,” and
ASBJ Guidance No. 24, “Guidance on Accounting Standard for
Accounting Changes and Error Corrections.” Accounting
treatments under this standard and guidance are as follows:
(1) Changes in Accounting Policies
When a new accounting policy is applied with revision of
accounting standards, a new policy is applied retrospec-
tively unless the revised accounting standards include
specific transitional provisions. When the revised account-
ing standards include specific transitional provisions, an
entity shall comply with the specific transitional provisions.
(2) Changes in Presentations
When the presentation of financial statements is changed,
prior period financial statements are reclassified in accor-
dance with the new presentation.
(3) Changes in Accounting Estimates
A change in an accounting estimate is accounted for in the
period of the change if the change affects that period only,
and is accounted for prospectively if the change affects both
the period of the change and future periods.
(4) Corrections of Prior Period Errors
When an error in prior period financial statements is dis-
covered, those statements are restated.
This accounting standard and the guidance are applicable to
accounting changes and corrections of prior period errors
which are made from the beginning of the fiscal year that
begins on or after April 1, 2011.
3. Investment Securities
Investment securities at March 31, 2010 and 2011 consisted of the following:
Millions of Yen
Thousands of
U.S. Dollars
2010 2011 2011
Non-Current:
Equity securities ¥52,974 ¥45,903 $552,044
Debt securities 0 0 4
Investment in a limited liability investment partnership 926 876 10,532
Total ¥53,900 ¥46,779 $562,580
The carrying amounts and aggregate fair values of investment securities at March 31, 2010 and 2011 were as follows:
Millions of Yen
Cost
Unrealized
Gains
Unrealized
Losses Fair Value
March 31, 2010
Securities classified as:
Available-for-sale:
Equity securities ¥44,905 ¥13,593 ¥5,748 ¥52,750
Total ¥44,905 ¥13,593 ¥5,748 ¥52,750