Nikon 2011 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2011 Nikon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

54
19. Business Combinations
(a) Reorganization of Precision Equipment Company’s
Production Subsidiaries
1. Objective and Measures
The Company has been implementing various structural
reforms of its Precision Equipment Company to cope with
deterioration of the IC steppers and scanners market as well
as the future outlook of the IC/LCD steppers and scanners
markets. As a part of this reform, the Precision Equipment
Company’s currently operating four production subsidiaries
in Japan were reorganized and integrated into two subsidiar-
ies for establishment of a production structure to substan-
tially reduce fixed costs and enhance both operational
efficiency and the capability to cope with the drastic change
in the business environment. Production of IC steppers and
scanners was integrated into Tochigi Nikon Precision Co., Ltd.
Major devices of LCD steppers and scanners production were
integrated into Zao Nikon Co., Ltd.
2. Outline of Reorganization
(Date of enforcement)
October 1, 2009
(Schema)
The IC stepper and scanner business of Sendai Nikon Preci-
sion Corporation was transferred to Tochigi Nikon Precision
Co., Ltd. via split by absorption. The LCD stepper and scanner
business of Mito Nikon Precision Corporation was transferred
to Zao Nikon Co., Ltd. via split by absorption. After split by
absorption, merger by absorption proceeded with Tochigi
Nikon Precision Co., Ltd. as the continuing concern and Mito
Nikon Precision Corporation as the discontinued concern. In
the same manner, merger by absorption proceeded with Zao
Nikon Co., Ltd. as the continuing concern and Sendai Nikon
Precision Corporation as the discontinued concern. Further,
Zao Nikon Co., Ltd. changed its trade name to Miyagi Nikon
Precision Co., Ltd. on the same day.
(Allocation related to these splits and mergers)
There was neither a new equity issue nor a capital increase,
since these splits and mergers were implemented among
100% subsidiaries of the Company.
3. Outline of New Subsidiaries
(Tochigi Nikon Precision Co., Ltd.)
Main business: Manufacture of devices for IC Steppers &
Scanners and lenses for IC/LCD Steppers
& Scanners
(Miyagi Nikon Precision Co., Ltd.)
Main business: Manufacture of devices for LCD Steppers
& Scanners
As these were transactions 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, 2010.
18. Net Income per Share
Reconciliation of the differences between basic and diluted net income (loss) per share (EPS) for the years ended March 31, 2010
and 2011 was as follows. Diluted net loss (income) per share for the year ended March 31, 2010 is not disclosed because of the
Company’s net loss position.
Millions of Yen
Thousands
of Shares Yen U.S. Dollars
Loss
Weighted
Average Shares EPS
For the year ended March 31, 2010
Basic EPS
Net loss available to common shareholders ¥(12,615) 396,398 ¥(31.82) $(0.34)
Millions of Yen
Thousands
of Shares Yen U.S. Dollars
Net Income
Weighted
Average Shares EPS
For the year ended March 31, 2011
Basic EPS
Net income available to common shareholders ¥ 27,313 396,435 ¥ 68.90 $ 0.83
Effect of dilutive securities
Warrants (stock option) 355
Diluted EPS
Net income for computation ¥ 27,313 396,790 ¥ 68.83 $ 0.83