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O LYMPUS 20 05 37
Revenues and expenses denominated in foreign functional currencies are translated at average exchange rates for each corresponding fiscal
year. Differences resulting from translation are presented as “Foreign currency translation adjustments” in shareholders’ equity of the accom-
panying consolidated balance sheets.
2. MARKETABLE AND INVESTMENT SECURITIES
The following tables summarize acquisition costs, book values and fair value of securities with fair value as of March 31, 2 005 and 2004:
Available-for-sale securities
Securities with book value (fair value) exceeding acquisition cost.
Millions of yen Thousands of U.S. dollars
2005 2004 2005
Acquisition Book Acquisition Book Acquisition Book
cost value Difference cost value Difference cost value Difference
Equity securities ................. ¥17,660 ¥2 6 ,419 ¥8,759 ¥11,406 ¥19,255 ¥7,849 $ 160,545 $ 240,173 $79,628
Bonds .............................. 10 10 0 990 91 91 0
O thers .............................. 9 7,2 08 98,532 1,324 36,078 36,599 521 883,7 10 895,7 45 12,035
Total .............................. ¥114,8 78 ¥124,96 1 ¥10,083 ¥4 7,493 ¥55,863 ¥8,370 $ 1,044,3 4 6 $1,136,009 $ 91,663
Securities with book value (fair value) under acquisition co st.
Millions of yen Thousands of U.S. dollars
2005 2004 2005
Acquisition Book Acquisition Book Acquisition Book
cost value Difference cost value Difference cost value Difference
Equity securities ................. ¥ 554 ¥ 51 2 ¥ (42) ¥ 48 ¥ 47 ¥ (1) $ 5,0 36 $ 4,65 5 $ (38 1)
Bonds .............................. 1,200 1,200 —35,0 00 34,997 (3) 1 0,909 10,9 09 —
O thers .............................. 3,171 2,743 (428) 4,183 3,64 7 (5 36) 28,8 28 24,93 6 (3,892)
Total .............................. ¥4,925 ¥4,455 ¥(470) ¥39,2 31 ¥38,691 ¥(540) $44,7 73 $40,500 $ (4,273)
No te: The Company recognizes impairment loss when the fair market value of marketable and investment securities comes down to less than 5 0% of the acquisition cost at
the end of the period. In addition, the loss is also recognized when the fair market value declines more than 30 % but less than 50%, unless the recovery of the fair
market value is reasonably expected under the market conditions, trends of earnings and other key measures.
The following table summarizes book values o f securities not stated at fair value as of March 3 1 , 2005 and 2004:
Available-for-sale securities
Book value
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
Non-listed equity securities ....................................................................................... ¥15,082 ¥ 7,7 14 $137,109
Non-listed foreign bonds.......................................................................................... 5,603 3,684 5 0,936
Others .................................................................................................................. 24,061 10,008 218,737
Total .................................................................................................................. ¥44,746 ¥21,406 $406,782
No te: The preferred securities of ¥6,000 million ($5 4,545 thousand) issued by a specific purpose company, which is based on the scheme for securitization of real estate,
carry the risk of fluctuations in redemption price caused by changes in the utilization value of real estate.
Maturities of available-for-sale securities are as fo llo ws:
Millions of yen
2005
O ver a year O ver five years
but within but within
W ithin a year five years ten years Total
Equity securities ..................................................................................... ¥ —¥ 3,500 ¥ —¥ 3,500
Government bonds.................................................................................. 1,200 13 —1,213
Corporate bonds.................................................................................... —4,048 3,100 7,148
Others.................................................................................................. —2 3,985 66 2 4,051
Total .................................................................................................. ¥1,200 ¥31,546 ¥3,166 ¥35,912