Olympus 2013 Annual Report Download - page 51

98 OLYMPUS Annual Report 2013 99OLYMPUS Annual Report 2013
The “Medical Business” manufactures and sells medical endoscopes, surgical endoscopes, endotherapy devices and other products.
The “Life Science and Industrial Business” manufactures and sells biological microscopes, industrial microscopes, industrial endoscopes,
non-destructive testing equipment and other products. The “Imaging Business” manufactures and sells digital cameras, voice recorders and
other products. The “Information and Communication Business” sells mobile terminals including mobile handsets. The “Others” business
manufactures and sells biomedical materials, conducts system development and other business activities.
On September 28, 2012, the Company transferred its Information & Communication Business of ITX Corporation, which was previously
classifi ed in the Information and Communication segment, to a newly established company, and on the same day, the newly established
company was sold to IJ Holdings Inc., a wholly owned subsidiary of a partnership operated and managed by Japan Industrial Partners, Inc.
As a result, this newly established company was excluded from the scope of consolidation.
(2) Method of calculating amounts of net sales, profi t/loss, assets, and other items
The accounting policies of the segments are basically the same as those described in the signifi cant accounting policies in Note 1 “Summary
of signifi cant accounting policies.” Segment profi t or loss corresponds to operating income on the consolidated statements of operations.
The internal sales or transfer among segments are based on actual market prices.
(3) Information concerning net sales and profi t (loss), assets and other items by reportable segment
Millions of yen
For the year ended March 31, 2011
Medical
LifeScience
andIndustrial Imaging
Informationand
Communication Others Total Adjustments
Consolidated
Total
Net sales:
Third parties ......................................... ¥355,322 ¥100,808 ¥131,417 ¥209,520 ¥50,038 ¥847,105 ¥ — ¥ 847,105
Intersegment ........................................ 135 170 91 — 43 439 (439) —
Total ............................................................ ¥355,457 ¥100,978 ¥131,508 ¥209,520 ¥50,081 ¥847,544 ¥ (439) ¥ 847,105
Segment profi t (loss) .................................... ¥ 71,682 ¥ 8,553 ¥ (15,019) ¥ 5,242 ¥ (3,606) ¥ 66,852 ¥ (28,472) ¥ 38,379
Assets ......................................................... 436,586 84,773 107,679 93,261 76,967 799,266 219,894 1,019,160
Depreciation and amortization ..................... 16,913 4,395 6,021 577 2,057 29,963 4,225 34,188
Amortization of goodwill ............................... 6,935 922 — 2,448 1,944 12,249 — 12,249
Capital expenditures .................................... 15,525 3,913 4,838 738 3,685 28,699 4,000 32,699
Millions of yen
For the year ended March 31, 2012
Medical
LifeScience
andIndustrial Imaging
Informationand
Communication Others Total Adjustments
Consolidated
Total
Net sales:
Third parties ......................................... ¥349,246 ¥92,432 ¥128,561 ¥229,399 ¥48,910 ¥848,548 ¥ — ¥848,548
Intersegment ........................................ 158 16 84 — 142 400 (400) —
Total ............................................................ ¥349,404 ¥92,448 ¥128,645 ¥229,399 ¥49,052 ¥848,948 ¥ (400) ¥848,548
Segment profi t (loss) .................................... ¥ 68,188 ¥ 5,439 ¥ (10,760) ¥ 5,277 ¥ (7,992) ¥ 60,152 ¥ (24,634) ¥ 35,518
Assets ......................................................... 462,317 79,251 88,928 98,842 73,207 802,545 163,981 966,526
Depreciation and amortization ..................... 17,935 3,606 4,696 1,029 1,891 29,157 4,630 33,787
Amortization of goodwill ............................... 6,695 664 — 2,890 2,034 12,283 — 12,283
Capital expenditures .................................... 15,588 4,292 5,211 666 5,735 31,492 6,469 37,961
Derivatives for which the hedge accounting is applied
As of March 31, 2012 Millions of yen
Notional amount Fair value
Foreign exchange forward contracts,
accounted for by deferral hedge accounting:
To buy U.S. dollars ........................................................................................... ¥ 1,302 ¥ (1)
To buy other currencies .................................................................................... 328 (5)
To sell U.S. dollars ............................................................................................ 12,732 (485)
To sell other currencies ..................................................................................... 14,438 (640)
Foreign exchange forward contracts,
accounted for by special hedge accounting:
To buy U.S. dollars ........................................................................................... 20,011 *
To buy other currencies .................................................................................... 2 *
To sell U.S. dollars ............................................................................................ 7,496 *
To sell other currencies ..................................................................................... 579 *
Interest rate swap contracts, accounted for by deferral hedge accounting:
Receive fl oating / pay fi xed ............................................................................... 14,940 (310)
Interest rate swap contracts, accounted for by
special hedge accounting short-cut method:
Receive fl oating / pay fi xed ............................................................................... 374,879 **
As of March 31, 2013 Millions of yen Thousands of U.S. dollars
Notional amount Fair value Notional amount Fair value
Foreign exchange forward contracts,
accounted for by deferral hedge accounting:
To buy U.S. dollars ........................................................................................... ¥ 294 ¥21 $ 3,128 $223
To buy other currencies .................................................................................... 6 (0) 64 (0)
To sell U.S. dollars ............................................................................................ 286 (4) 3,043 (43)
To sell other currencies ...................................................................................... 122 1 1,298 11
Foreign exchange forward contracts,
accounted for by special hedge accounting:
To buy U.S. dollars ........................................................................................... 9,530 * 101,383 *
To buy other currencies .................................................................................... 25 * 266 *
To sell U.S. dollars ............................................................................................ 23,834 * 253,553 *
To sell other currencies ..................................................................................... 7,531 * 80,117 *
Interest rate swap contracts, accounted for by deferral hedge accounting:
Receive fl oating / pay fi xed ............................................................................... — — — —
Interest rate swap contracts, accounted for by special
hedge accounting short-cut method:
Receive fl oating / pay fi xed .............................................................................. 347,295 ** 3,694,628 **
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 is estimated by obtaining quotes from fi nancial institutions.
* Foreign exchange forward contracts are accounted for as part of accounts receivable and accounts payable. Therefore, the fair value of the contracts is included in the fair value of
underlying accounts receivable and accounts payable.
** Interest rate swap contracts are accounted for as part of long-term debt. Therefore, the fair value of the contracts is included in the fair value of underlying long-term debt.
35. Segment Information
(1) Overview of reportable segments
The reportable segments of the Olympus Group are components of the Company whose separate fi nancial information is available. These
segments are periodically evaluated by the Board of Directors in deciding how to allocate management resources and in assessing the
performance.
The Olympus Group has established business divisions at the Company, Olympus Medical Systems Corporation, Olympus Imaging
Corporation, and ITX Corporation. Each business division formulates comprehensive strategies for Japan and abroad with respect to
products and services handled and deploys business activities.
Accordingly, being composed of segments that are categorized according to products and services, the Olympus Group has the
following fi ve reportable segments based on these business divisions: Medical Business, Life Science and Industrial Business, Imaging
Business, Information and Communication Business, and Others.