Pioneer 2008 Annual Report Download - page 61

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Annual Report 2008 59
A summary of the status of the Company’s stock options at March 31, 2008, and the changes during the year then ended is
as follows:
Number of Shares
(Thousands)
Weighted-Average
Remaining Life
(Years)
Weighted-Average Exercise
Price per Share
Aggregate
Intrinsic Value
Yen U.S. Dollars Millions of Yen
Thousands of
U.S. Dollars
Outstanding at March 31, 2007 1,504 1.5 ¥2,538
Expired (560) 2,477 $24.77
Outstanding at March 31, 2008 944 1.3 ¥2,574 $25.74 – –
Exercisable at March 31, 2007 1,189 ¥2,726
Exercisable at March 31, 2008 944 1.3 ¥2,574 $25.74 – –
Remuneration costs recognized for stock option plans for
the years ended March 31, 2006, 2007 and 2008 were ¥175
million, ¥73 million and ¥12 million ($120 thousand),
respectively.
The weighted-average fair value per share on the date of
grant of the stock option issued during the years ended
March 31, 2006 was ¥306. The fair value of the stock option on
the date of grant, which is amortized to expense over the period
from the granting through the commencement of the exercisable
period, is estimated using the Black-Scholes option-valuation
model with the following weighted-average assumptions:
2006
Risk-free interest rate 0.23%
Expected lives 3.48 years
Expected volatility 31.98%
Expected dividends 0.90%
17. Other comprehensive income (loss):
Changes in accumulated other comprehensive income (loss) are as follows:
Millions of Yen
Minimum Pension
Liability Adjustments
Pension Liability
Adjustments
Net Unrealized
Gains on Securities
Foreign Currency
Translation
Adjustments
Total Accumulated
Other Comprehensive
Income (Loss)
Balance at March 31, 2005 ¥(11,186) – ¥ 8,250 ¥(44,733) ¥(47,669)
Adjustments for the year 7,506 – 2,102 17,969 27,577
Balance at March 31, 2006 (3,680) – 10,352 (26,764) (20,092)
Adjustments for the year 454 – (2,947) 7,584 5,091
Adjustment to initially apply SFAS
No. 158, net of tax of ¥1,222 million ¥ 3,226 ¥ (5,009) – – (1,783)
Balance at March 31, 2007 – (5,009) 7,405 (19,180) (16,784)
Adjustments for the year – (7,270) (5,462) (30,662) (43,394)
Balance at March 31, 2008 – ¥(12,279) ¥ 1,943 ¥(49,842) ¥(60,178)
Thousands of U.S. Dollars
Minimum Pension
Liability Adjustments
Pension Liability
Adjustments
Net Unrealized
Gains on Securities
Foreign Currency
Translation
Adjustments
Total Accumulated
Other Comprehensive
Income (Loss)
Balance at March 31, 2007 – $ (50,090) $ 74,050 $(191,800) $(167,840)
Adjustments for the year – (72,700) (54,620) (306,620) (433,940)
Balance at March 31, 2008 – $(122,790) $ 19,430 $(498,420) $(601,780)