Olympus 2012 Annual Report Download - page 84

The discount rates used by the Company were mainly 2.0% for the years ended March 31, 2012 and 2011. The rate of expected return on plan assets used by the Company is
mainly 4.0% for the years ended March 31, 2012 and 2011. The estimated amount of all retirement benefits to be paid at the future retirement date is allocated equally to each
period over the estimated years of total service. Prior service costs were amortized by straight-line method for mainly five years for the years ended March 31, 2012 and 2011, and
actuarial gains or losses were amortized by straight-line method for mainly five years for the years ended March 31, 2012 and 2011.
11. ALLOWANCE FOR DOUBTFUL ACCOUNTS
The allowance for doubtful accounts includes ¥7,211 million ($90,138 thousand) representing the provision for the estimated unrecoverable amount in excess of reasonable
commission fees recorded as a long-term receivable in relation to the funds described in Note 1(a). Although these fees were paid to the outside collaborators of multiple funds, the
Company plans to request reimbursement from these outside collaborators because the Company did not agree to the fees.
12. STOCK OPTION PLANS
A summary of information regarding the consolidated subsidiaries’ stock option plans for the year ended March 31, 2012 was as follows:
Consolidated subsidiaries
Qualified beneficiaries ............................................................................................................................................................................... 13 directors
2 corporate auditors
144 employees
Class and number of shares for which new subscription rights were offered ................................................................................................. Common stock
10,844
Date of rights granted ............................................................................................................................................................................... From August 30, 2005
to July 31, 2008
Period of exercise of rights ........................................................................................................................................................................ From January 1, 2007
to June 26, 2018
Number of stock options before vested
As of March 31, 2011 ........................................................................................................................................................................... —
Granted ................................................................................................................................................................................................ —
Lapsed ................................................................................................................................................................................................. —
Vested .................................................................................................................................................................................................. —
As of March 31, 2012 ........................................................................................................................................................................... —
Number of stock options vested .................................................................................................................................................................
As of March 31, 2011 ........................................................................................................................................................................... 7,931
Vested .................................................................................................................................................................................................. —
Exercised .............................................................................................................................................................................................. —
Lapsed ................................................................................................................................................................................................. 930
As of March 31, 2012 ........................................................................................................................................................................... 7,001
For stock options exercised during the year:
Exercise price (yen) ............................................................................................................................................................................... ¥ —
Average price of common stock at the date of exercise (yen) .................................................................................................................... ¥ —
For stock options outstanding at the end of the year:
Exercise price (yen) ............................................................................................................................................................................... ¥ 26,067
No stock options were exercised for the year ended March 31, 2012.
The total intrinsic value of the stock options was nil as of March 31, 2012.
Conditions for the exercise of stock options are as follows:
Individuals to whom the stock options are granted must continue their service with the Company or its subsidiaries and affiliates in the state of being employed or entrusted until the
stock options become exercisable.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
OLYMPUS 󱚈 Annual Report 2012
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