Pioneer 2007 Annual Report Download - page 48

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PIONEER CORPORATION47
8. Investments in and advances to affiliated companies:
Investments in and advances to affiliated companies principally
represent the Company’s equity in the underlying assets of 20%
to 50% owned companies. Dividends received from companies
accounted for by the equity method of accounting were ¥4
million, ¥4 million and ¥14 million ($119 thousand), respectively,
for the years ended March 31, 2005, 2006 and 2007.
Retained earnings include the parent company’s and its
consolidated subsidiaries’ equity in the undistributed earnings
of 20% to 50% owned companies accounted for by the
equity method of accounting in the amount of ¥339 million
and ¥840 million ($7,119 thousand) at March 31, 2006 and
2007, respectively.
Summarized financial information of companies owned
20% to 50%, including ELDis, Inc., which was 47.5% owned
by Tohoku Pioneer Corporation (itself, a 67.1% owned subsid-
iary of the parent company) and was liquidated in March, 2006
(See Note 17), accounted for by the equity method of account-
ing is as follows:
Thousands of
Millions of Yen U.S. Dollars
2006 2007 2007
Current assets ¥2,528 ¥5,418 $45,915
Property, plant and equipment 638 1,812 15,356
Other assets 210 556 4,712
Total assets ¥3,376 ¥7,786 $65,983
Current liabilities ¥1,110 ¥2,507 $21,246
Long-term liabilities 294 429 3,635
Shareholders’ equity 1,972 4,850 41,102
Total liabilities and shareholders’ equity ¥3,376 ¥7,786 $65,983
Thousands of
Millions of Yen U.S. Dollars
Years ended March 31 2005 2006 2007 2007
Net sales ¥ 9,229 ¥ 6,974 ¥22,809 $193,297
Gross profit (loss) (1,932) 941 1,856 15,729
Net income (loss) (5,801) (24,720) 314 2,661