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net unrealized holding gains (losses) on available-for-sales securities, net of taxes by ¥77 million ($963 thousand) as of and for the year ended March 31, 2012.
14. NET ASSETS
Under the Japanese Corporate Law (the “Law”), the entire amount paid for new shares is required to be designated as common stock. However, a company may, by a resolution of its
board of directors, designate an amount not exceeding one-half of the prices of the new shares as additional paid-in capital, which is included in capital surplus.
Under the Law, in cases where a dividend distribution of surplus is made, the smaller of an amount equal to 10% of the dividend or the excess, if any, of 25% of common stock
over the total of additional paid-in capital and legal earnings reserve must be set aside as additional paid-in capital or legal earnings reserve. Legal earnings reserve is included in
retained earnings in the accompanying consolidated balance sheets.
Under the Law, all additional paid-in capital and legal earnings reserve may be transferred to other capital surplus and other retained earnings, respectively, which are potentially
available for dividends.
The maximum amount that the Company can distribute as dividends is calculated based on the non-consolidated financial statements of the Company in accordance with the Laws.
A summary of information regarding the Consolidated Statement of Changes in Net Assets for the year ended March 31, 2012 was as follows:
Total number and class of shares issued and treasury stock
Class of shares
As of
March 31, 2011
(Number of shares)
Increase
(Number of shares)
Decrease
(Number of shares)
As of
March 31, 2012
(Number of shares)
Shares issued:
Common stock ................................................................................................ 271,283,608 — — 271,283,608
Treasury stock:
Common stock (Note) ...................................................................................... 4,348,948 72,930 —4,421,878
Note : The increase in the number of shares of common stock in treasury includes 22,000 shares through the purchase from dissenting shareholders opposed to the exchange of shares in which ITX Corporation became a wholly owned subsid-
iary of the Company, 40,000 shares through the purchase from dissenting shareholders opposed to the absorption-type company split with Olympus Imaging Corporation and 10,930 shares through the purchases of stock of less than
one trading unit.
Dividends paid
Resolution Class of shares
Amount of
dividends paid
(Millions of yen)
Dividends
per share
(Yen) Record date Effective date
General Shareholders' Meeting (June 29, 2011) ................................................... Common Stock ¥ 4,004 ¥ 15.00 March 31, 2011 June 30, 2011
(Thousands of
U.S. dollars) (U.S. dollars)
$ 50,050 $ 0.19
There were no dividends whose record date is in the year ended March 31, 2012 but whose effective date is in the year ending March 31, 2013.
A summary of information regarding the Consolidated Statement of Changes in Net Assets for the year ended March 31, 2011 was as follows:
Total number and class of shares issued and treasury stock
Class of shares
As of
March 31, 2010
(Number of shares)
Increase
(Number of shares)
Decrease
(Number of shares)
As of
March 31, 2011
(Number of shares)
Shares issued
Common stock ................................................................................................ 271,283,608 — — 271,283,608
Treasury Stock
Common stock (Notes 1 and 2) ........................................................................ 1,315,105 4,227,268 1,193,425 4,348,948
Notes : 1. The increase in the number of shares of common stock in treasury includes 4,222,700 shares through the purchase of common stock and 4,568 shares through the purchase of stock less than one trading unit.
2. The decrease in the number of shares of common stock in treasury includes 1,193,425 shares through the exchange of shares with shareholders of ITX Corporation. As a result of this transaction, ITX Corporation became a wholly
owned subsidiary of the Company.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
OLYMPUS 󱚈 Annual Report 2012
84