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70
Notes to Consolidated Financial Statements
Omron Corporation and Subsidiaries
In August 2006, the Company acquired 100% of the issued
common stock of Pioneer Precision Machinery Corporation
(now Omron Precision Technology Co., Ltd., “OPT”) for
cash in the aggregate amount of ¥7,721 million.
This acquisition was to expand and strengthen LCD
backlights business from small-size to large-size.
The consolidated financial statements for the year
ended March 31, 2007 include the operating results of
OPT from the date of acquisition. The estimated fair values
of the assets acquired and liabilities assumed at the date
of acquisition were as follows:
Maturities of debt securities classified as available-for-sale and held-to-maturity securities at March 31 were as follows:
20092009 2008
Fair value
Due after one year through five years
Due over five years
Millions of yen Thousands of U.S. dollars
$ 1,214
$ 1,020
Cost
$ 1,214
$ 1,020
Fair value
¥ 41
¥ 1,500
Cost
¥ 41
¥ 1,500
Fair value
¥ 119
¥ 100
Cost
¥ 119
¥ 100
Gross unrealized holding losses and fair value of certain available-for-sale, equity securities, aggregated by length of time
that such securities have been in a continuous unrealized loss position at March 31 were as follows:
20092009 2008
Gross
unrealized
holding losses
Less than 12 months
Equity securities
Millions of yen Thousands of U.S. dollars
$ (12,622)
Fair value
$ 38,163
Gross
unrealized
holding losses
¥ (662)
Fair value
¥ 6,270
Gross
unrealized
holding losses
¥ (1,237)
Fair value
¥ 3,740
(*) Investments and other assets include acquired goodwill of ¥2,179
million.
(*) Investments and other assets include acquired goodwill of ¥7,044
million.
5. Acquisition
Current assets
Property, plant and equipment
Investments and other assets (*)
Current liabilities
Long term liabilities
Net assets acquired
Millions of yen
¥ 18,299
3,788
3,855
(16,284)
(1,937)
¥ 7,721
Current assets
Property, plant and equipment
Investments and other assets (*)
Current liabilities
Long term liabilities
Net assets acquired
Millions of yen
¥ 2,463
458
11,360
(795)
(1,819)
¥ 11,667
Proceeds from sales of available-for-sale securities were
¥26 million ($265 thousand), ¥3,403 million and ¥976 mil-
lion for the years ended March 31, 2009, 2008 and 2007,
respectively.
Gross realized gains on sales were ¥7 million ($71
thousand), ¥1,534 million and ¥805 million for the years
ended March 31, 2009, 2008 and 2007, respectively.
Realized losses on sales were ¥1 million ($10 thou-
sand) for the years ended March 31, 2009, and there were
no gross realized losses on sales for the years ended
March 31, 2008 and 2007.
Losses on impairment of available-for-sale securities
recognized to reflect declines in market value considered
to be other than temporary were ¥5,062 million ($51,653
thousand), ¥2,228 million and ¥144 million for the years
ended March 31, 2009, 2008 and 2007, respectively.
Aggregate cost of non-marketable equity securities
accounted for under the cost method totaled ¥5,256 mil-
lion ($53,633 thousand) and ¥4,526 million at March 31,
2009 and 2008, respectively. Investments with an aggre-
gate cost of ¥5,105 million ($52,092 thousand) were not
evaluated for impairment because (a) the Companies did
not estimate the fair value of those investments as it was
not practicable to do so and (b) the Companies did not
identify any events or changes in circumstances that might
have had a significant adverse effect on the fair value of
those investments.
In September 2006, Omron Management Center of
America, Inc., a subsidiary of the Company, acquired
100% of the issued common stock of Scientific
Technologies Incorporated (now Omron Scientific
Technologies Incorporated, “OSTI”) for cash in the aggre-
gate amount of ¥11,667 million.
This acquisition was to fulfill line-up of safety equip-
ment, expand safety business and create cutting-edge
equipment.
The consolidated financial statements for the year
ended March 31, 2007 include the operating results of
OSTI from the date of acquisition. The estimated fair val-
ues of the assets acquired and liabilities assumed at the
date of acquisition were as follows: