Pioneer 2015 Annual Report Download - page 26

20. Net Income per Share
Net income per share (“EPS”) for the years ended March 31, 2015 and 2014 was calculated as follows:
Millions of Yen
Thousands of
Shares Yen U.S. Dollars
Year ended March 31, 2015 Net Income
Weighted-Average
Number of Shares EPS EPS
Basic EPS:
Net income available to common shareholders ¥14,632 367,196 ¥39.85 $0.33
Millions of Yen
Thousands of
Shares Yen
Year ended March 31, 2014 Net Income
Weighted-Average
Number of Shares EPS
Basic EPS:
Net income available to common shareholders ¥531 356,076 ¥1.49
Diluted net EPS for the years ended March 31, 2015 and 2014 is not disclosed as there were no potentially dilutive
securities for the years ended March 31, 2015 and 2014.
Company split, business transfer and transfer
of shares in relation to transfer of DJ equipment
business
The Company resolved, at the board of directors’
meeting held on September 16, 2014, the transfer
of the Group’s business relating to development,
manufacturing and sale of DJ equipment (the “DJ
equipment business”), by way of an absorption-type
company split (the “Company Split”), and by way of
a business transfer (the “Business Transfer”) for the
DJ equipment business of the Group other than the
Company, to the newly established companies by the
Company, Pioneer DJ Corporation (the “Successor
Company”), and Pioneer DJ Europe Limited and Pio-
neer DJ Americas, Inc. (the “Sales Subsidiaries”) as of
the effective date of March 2, 2015 and to transfer all
the Successor Company’s outstanding shares to PDJ
Holdings Co., Ltd. (the “PDJHD”) on the same day.
The Company entered into a share transfer agreement
with PDJHD on September 16, 2014 and transferred
all the Successor Company’s outstanding shares to
PDJHD on March 2, 2015.
1. Overview of the business split
(1) Purpose of Company Split, Business Transfer and
transfer of shares
The Company will continue to pursue selection and
concentration of its businesses other than the car
electronics business by comprehensively examining
various factors, including the Company’s strengths,
strategies for the car electronics business, profit-
ability and market growth, in order to accelerate the
concentration of management resources on the car
electronics business and to implement its growth
strategies quickly and steadily. As a part of those ef-
forts, with respect to the DJ equipment business, the
Company decided to expand its business and brand
with the most suitable partner. Therefore, the Com-
pany transferred the DJ equipment business to the
newly established Successor Company and the Sales
Subsidiaries by way of the Company Split and the
Business Transfer, respectively, and transferred all the
Successor Company’s outstanding shares to PDJHD.
(2) Overview of the Company Split
(a) Name of the counterparty of the Company Split
Pioneer DJ Corporation
(b) Description of the business subject to the Com-
pany Split
Designing, manufacturing and sale of DJ equip-
ment and DJ equipment-related services
(c) Date of the Company Split
March 2, 2015
(d) Legal form of the Company Split
An absorption-type company split (a simplified
absorption-type company split) between the
Company and the Successor Company.
21. Business Combination
19. Other Comprehensive Income
The components of other comprehensive income for the years ended March 31, 2015 and 2014, were the following:
Millions of Yen
Thousands of
U.S. Dollars
2015 2014 2015
Unrealized (loss) gain on available-for-sale securities
(Losses) gains arising during the year ¥ (65) ¥ 490 $ (542)
Reclassification adjustments to profit or loss (1,609) –(13,408)
Amount before income tax effect (1,674) 490 (13,950)
Income tax effect 401 (17) 3,342
Total ¥ (1,273) ¥ 473 $ (10,608)
Deferred gain on derivatives under hedge accounting
Gains arising during the year –––
Reclassification adjustments to profit or loss –¥ 34 –
Amount before income tax effect –34 –
Income tax effect –––
Total –¥ 34 –
Foreign currency translation adjustments
Adjustments arising during the year ¥12,622 ¥6,546 $105,183
Reclassification adjustments to profit or loss –––
Amount before income tax effect 12,622 6,546 105,183
Income tax effect –––
Total ¥12,622 ¥6,546 $105,183
Pension adjustments recognized by foreign consolidated subsidiaries
Adjustments arising during the year –¥ (376) –
Reclassification adjustments to profit or loss –265 –
Amount before income tax effect –(111) –
Income tax effect –(158) –
Total –¥ (269) –
Defined retirement benefit plans
Adjustments arising during the year ¥ (304) –$ (2,533)
Reclassification adjustments to profit or loss 2,472 –20,600
Amount before income tax effect 2,168 –18,067
Income tax effect 632 –5,266
Total ¥ 2,800 –$ 23,333
Share of other comprehensive income in associates
Gains arising during the year ¥ 207 ¥ 283 $ 1,725
Total other comprehensive income ¥14,356 ¥7,067 $119,633
48 Pioneer Corporation Annual Report 2015 49
Pioneer Corporation Annual Report 2015