Olympus 2009 Annual Report Download
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Table of contents
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Page 31
... Section
Financial Review 30 Ten-Year Summary 32 Consolidated Balance Sheets 34 Consolidated Statements of Operations 36 Consolidated Statements of Changes in Net Assets 37 Consolidated Statements of Cash Flows 38 Notes to the Consolidated Financial Statements 39 Independent Auditors' Report 62...
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Page 32
...saw expanded sales. Overseas, sales of operation room integration and therapeutic devices for sampling, including biopsy forceps, were favorable mainly in North America. In addition, sales recorded by Gyrus Group Limited, a U.K. medical equipment company acquired and included in the Group's scope of...
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Page 33
...283,575 million compared with the corresponding period of the previous fiscal year to ¥20,728 million (US$ 218 million). The principal cash outflows were purchases of property, plant and equipment of ¥43,829 million (US$461 million) and payments for acquisition of subsidiaries of ¥40,390 million...
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Page 34
...2000-2006: Equity = Total shareholders' equity
Fiscal 2009 Sales by Geographic Area
(%)
Fiscal 2009 Sales by Business Segment
(%)
Other areas 2.4
Others 6.6
Asia
11.6 35.4 Europe 26.4 Japan Information and Communication Business Life Science Business 19.3 22.9 Imaging Systems Business
12.1 39...
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Page 35
Millions of yen (except per share amounts)
2007
2006
2005
2004
2003
2002
2001
2000
414,746 647,040 1,061,786 108.6 47,799 4.5 55,531 44,696 30,404 176....
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Page 36
...,684 387,821 385,410 4,997,547
Property, Plant and Equipment: Land (Note 16)...Buildings and structures (Note 16) ...Machinery and equipment (Note 16)...Leased assets ...Construction in progress ...Less-Accumulated depreciation ...Net property, plant and equipment ...
19,856 144,413 222,623 6,819...
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Page 37
... 14): Common stock: Authorized-1,000,000,000 shares Issued-271,283,608 shares as of March 31, 2009 ...Capital surplus...Retained earnings ...Treasury stock, at cost ...Total shareholders' equity ...Net unrealized holding gains (losses) on available-for-sale securities, net of taxes .. Net unrealized...
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Page 38
...currency exchange gain (loss), net ...Net loss of investment in affiliated companies carried on the equity method (Note 3g)...Loss on investment in partnership (Notes 3d and 3e) ...Gain on sales of investment securities in subsidiaries and affiliates ...Gain on sales of property, plant and equipment...
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Page 39
Consolidated Statements of Changes in Net Assets
Olympus Corporation and Consolidated Subsidiaries For the years ended March 31, 2009, 2008 and 2007
Millions of yen
Net unrealized holding gains (losses) on availableTotal for-sale Treasury shareholders' securities, stock, at cost equity net of taxes...
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Page 40
... taxes to net cash provided by operating activities: Depreciation and amortization ...Impairment loss on fixed assets (Note 17)...Amortization of goodwill ...Increase in severance and retirement allowance...Increase (decrease) in prepaid pension cost ...Increase in provision for product warranties...
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Page 41
... or existence of certain conditions. Gyrus Group Limited and other subsidiaries, whose accounting settlement date had been December 31, changed their settlement date to March 31 for the year ended March 31, 2009. Consequently, their statements of operations were consolidated for 14 months (from...
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Page 42
... Annual Shareholders' Meeting on June 29, 2006, the Company terminated the policy relating to retirement benefits to directors and corporate auditors of the Company. The amounts of pension payments and retirement allowances are generally determined on the basis of length of service and basic salary...
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Page 43
... plans recognized outside profit or loss (3) Capitalized expenditures for research and development activities (4) Fair value measurement of investment properties, and revaluation of property, plant and equipment and intangible assets (5) Retrospective treatment of a change in accounting policies...
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Page 44
... for Lease Contracts (Corporate Accounting Standards Application Guidelines No. 16, issued by the Accounting Committee of the Japanese Institute of Certified Public Accountants on January 18, 1994 and revised on March 30, 2007). Before the application, the accounting treatment for finance lease...
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Page 45
... item. The amount of "Payments for purchase of treasury stock" included in "Other" of Cash Flows from Financing Activities in fiscal 2008 was ¥370 million.
4. SECURITIES
The following tables summarize acquisition costs, book values and fair value of securities with fair value as of March 31, 2009...
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Page 46
... as of March 31, 2009 and 2008: Available-for-sale securities
Book value Millions of yen Thousands of U.S. dollars
2009
2008
2009
Non-listed equity securities ...Non-listed foreign bonds ...Others ...Total ...Maturities of available-for-sale securities were as follows:
¥ 10,839 393 1,732 ¥ 12...
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Page 47
... ¥2,012 million, respectively.
6. NOTES AND ACCOUNTS RECEIVABLE
Notes and accounts receivable as of March 31, 2009 and 2008, consisted of the following:
Millions of yen Thousands of U.S. dollars
2009
2008
2009
Unconsolidated subsidiaries and affiliates ...Trade ...Total ...
Â¥
1,841 158,417...
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Page 48
... Japanese bank, due December 2013...1.98% loan from a Japanese bank, due December 2017...4.59% loan from a Japanese bank, due May 2013 ...Other bonds ...Others from foreign banks ...Others from Japanese banks ...(Secured long-term debt) Others from foreign banks ...Others from Japanese banks ...Less...
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Page 49
... 2008. The rate of expected return on plan assets used by the Company was mainly 4.0% in fiscal 2009 and 2008. The estimated amount of all retirement benefits to be paid at the future retirement date is allocated equally to each service year using the estimated number of total service years. Prior...
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Page 50
...auditor 91 employees 6 directors of subsidiaries of ITX Corporation Common stock 5,795 From October 6, 2005 to April 28, 2006 From June 24, 2007 to June 23, 2010 - - - - - 4,470 - - 740 3,730 ¥ ¥ - -
Class and number of shares of common stock for which new subscription rights were offered ...Date...
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Page 51
... recorded.
2009 2008 2007
Japanese statutory tax rate ...Non-deductible expenses ...Effect of foreign tax rate differences...Increase (decrease) of allowance for evaluation ...Tax deduction for research and development ...Amortization of consolidated adjustment accounts ...Amortization of goodwill...
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Page 52
... non-consolidated financial statements of the Company in accordance with Japanese laws and regulations. A summary of information regarding the Consolidated Statement of Changes in Net Assets for the year ended March 31, 2009 is as follows: Total number and class of shares issued and treasury stock...
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Page 53
... that will be effective after the period-end
Amount of Dividends dividends paid per share (Millions of yen) Funds of distribution (Yen)
Resolution
Class of shares
Record Date
Effective date
General Shareholders' Meeting (June 27, 2008)
Common Stock
Â¥5,405
Retained earnings ¥20.00 March...
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Page 54
... ¥ 1,093
Type of assets
Location
Millions of yen
Assets used for Life Science Business Assets used for Information and Communication Business Assets used for Others Business Idle properties Total
Goodwill Goodwill Buildings Goodwill Machinery and Equipment Land Buildings
Munich, Germany Tokyo...
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Page 55
... were consolidated, acquisition costs of shares, and payments for acquisition of Gyrus Group PLC for the year ended March 31, 2008 were as follows:
Millions of yen
Notes and accounts receivable...Inventories ...Other current assets ...Property, plant and equipment ...Goodwill ...Other assets...
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Page 56
... terms assuming no residual value. Equivalent of interest expense is computed using the interest rate method over the lease terms for the difference between acquisition cost and total lease payments. Future minimum lease payments under the non-cancelable operating leases having remaining terms in...
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Page 57
...purposes within a limited amount. Stockprice swap contracts are exposed to stock-price fluctuation risk. The following table summarizes the underlying notional transaction amounts, book values and fair values for outstanding derivative financial instruments by risk category and instrument type as of...
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Page 58
... value of currency option agreements is estimated by obtaining quotes from financial institutions. The fair value of foreign exchange forward contracts is estimated based on market prices for contracts with similar terms. The fair value of interest rate swap contracts and stock-price swap contracts...
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Page 59
...Communication Business: Mobile terminals, Mobile solutions, Mobile content services, Network infrastructure systems, Development and sales of business package software, Semiconductor devices, Electric equipment Others: Industrial endoscopes, Non-destructive testing equipment, Printers, Bar code data...
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Page 60
... Germany, the United Kingdom, France and other countries. Asia includes Singapore, Hong Kong, China, South Korea, Australia and other countries.
(c) Overseas sales information
Millions of yen 2009 2008 2007 Thousands of U.S. dollars 2009
Export sales (A) ...to North America ...to Europe ...to Asia...
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Page 61
... financial statements. (c) From the fiscal year started April 1, 2009, the Company transferred the product categories of mobile solutions, mobile content services, network infrastructure systems, development and sales of business package software, semiconductor devices and electric equipments...
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Page 62
... business: Sales and Distribution of mobile phone devices (3) Succeeding assets and liabilities: Assets and rights and obligations relating to this business (4) Effective date of divestiture: August 1, 2009 2. Form of company split Absorption-type company split in which ITX Corporation is to...
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Page 63
... Price (plan): ¥77,500 million (US$816 million) 3. Overview of Beckman Coulter Group (1) Trading name: Beckman Coulter, Inc. (2) Representative: Scott Garrett (CEO) (3) Address: California, U.S.A. (4) Common stock: US$6.9 million (5) Principal activities: Manufacture and sale of biomedical testing...
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Page 64
...balance sheets of Olympus Corporation and consolidated subsidiaries as of March 31, 2009 and 2008, and the related consolidated statements of operations, changes in net assets and cash flows for each of the three years in the period ended March 31, 2009, expressed in Japanese yen. These consolidated...
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Page 65
...) Information services and system development
Gyrus AMCI, Inc.
136 Turnpike Road, Southborough, MA 01772-2104, U.S.A. http://gyrusacmi.com/
Olympus Software Technology Corp.
(Tokyo) Information services and system development
Olympus Logitex Co., Ltd.
(Kanagawa) Transportation
ITX Corporation...
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Page 66
... and sale of electronic products
Olympus Winter & Ibe GmbH
(Hamburg, Germany) Manufacture, import and sale of medical equipment
Olympus Australia Pty Ltd.
(Victoria, Australia) Import and sale of optical equipment and medical equipment
Olympus KeyMed Group Limited
(London, U.K.) Holding company...
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