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74
14. Per Share Data
The Company accounts for its net income per share in accor-
dance with SFAS No. 128, “Earnings per Share.” Basic net
income per share has been computed by dividing net income
available to common shareholders by the weighted-average num-
ber of common shares outstanding during each year. Diluted
net income per share reflects the potential dilution of convertible
bonds and stock options, and has been computed by the if-con-
verted method for convertible bonds and by the treasury stock
method for stock options.
A reconciliation of the numerators and denominators of the
basic and diluted net income per share computations is as follows:
Income before cumulative effect of accounting change
Effect of dilutive securities:
Convertible bonds, due September 2004
Diluted income before cumulative effect of accounting change
2006
2007 2005 2007
Millions of yen Thousands of
U.S. dollars
¥30,176
165
¥30,341
$ 324,407
—
$ 324,407
¥36,964
—
¥36,964
¥38,280
—
¥38,280
Net income
Effect of dilutive securities:
Convertible bonds, due September 2004
Diluted income
2006
2007 2005 2007
Millions of yen Thousands of
U.S. dollars
¥30,176
165
¥30,341
$ 324,407
—
$ 324,407
¥35,763
—
¥35,763
¥38,280
—
¥38,280
Weighted average common shares outstanding
Dilutive effect of:
Convertible bonds, due September 2004
Stock options
Diluted common shares outstanding
2006
2007 2005
238,505,304
4,623,997
76,574
243,205,875
236,625,818
—
131,711
236,757,529
232,059,070
—
153,918
232,212,988
The total valuation allowance increased by ¥1,623 million ($13,754
thousand) in 2007 and decreased by ¥65 million in 2006.
As of March 31, 2007, certain subsidiaries had operating loss
carryforwards approximating ¥9,776 million ($82,847 thousand)
available for reduction of future taxable income, the majority of
which expire by 2014.
The Company has not provided for Japanese income taxes on
unremitted earnings of certain foreign subsidiaries to the extent
that they are believed to be indefinitely reinvested. The accu-
mulated unremitted earnings of the foreign subsidiaries which are
considered to be indefinitely reinvested and for which Japanese
income taxes have not been provided were ¥55,211 million
($467,890 thousand) and ¥55,311 million at March 31, 2007 and
2006, respectively. Dividends received from domestic subsidiaries
are expected to be substantially free of tax.
Net sales and total assets of foreign subsidiaries for the years ended March 31, 2007, 2006 and 2005 were as follows:
13. Foreign Operations
Net sales
Total assets
20062007 2005 2007
Millions of yen Thousands of
U.S. dollars
¥ 220,961
¥ 178,038
$ 2,750,076
$ 2,236,441
¥ 256,116
¥ 209,038
¥ 324,509
¥ 263,900