Ricoh 2001 Annual Report Download - page 40

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The significant transactions of Ricoh with these affiliates for the three years
ended March 31, 2001, and the related account balances at March 31, 2000 and
2001 are sum marized as follows:
As of March 31, 2001, consolidated retained earnings included undistributed
earnings of 20% to 50% owned companies accounted for by the equity method in
the am ount of ¥32,681 million ( $259,373 thousand) .
Thousands of
U.S. dollars
2 0 0 1
Transactions—
Sales
Purchases
Dividend income
2 0 0 1
¥ 2 0 ,9 5 2
1 3 ,6 7 3
1 ,0 0 8
$166,286
1 0 8 ,5 1 6
8 ,0 0 0
2000
¥23,231
13,412
1,651
1999
¥32,057
34,992
1,168
Thousands of
U.S. dollars
2 0 0 1
Account balances—
Receivables
Payables
Millions of yen
2001
¥ 6 ,3 9 8
1 ,9 7 9
$ 5 0 ,7 7 8
1 5 ,7 0 6
2000
¥4,406
3,030
Millions of yen
7 . INVESTMENTS IN AND ADVANCES TO AFFILIATES
The investments in and advances to affiliates primarily relate to 20% to 50%
owned companies. Included in these com panies is COCA-COLA WEST JAPAN
COMPANY, LIMITED, a 21.4% owned major affiliate. The comm on stock of this
company is publicly traded. The carrying value of the investment in this company
was equal to its underlying book value and am ounted to ¥33,842 million
( $268,587 thousand) as of March 31, 2001. The quoted market value of this com-
pany was ¥46,190 million ( $366,587 thousand) as of March 31, 2001.
In May 1999, KITAKYUSHU COCA-COLA BOTTLING COMPANY, LIMITED
made a special allotm ent offering of new securities to a third party. Also, it
merged with SANYO COCA-COLA BOTTLING CO., LTD., as of July 1, 1999 and
changed its entity’s name to COCA-COLA WEST JAPAN COMPANY, LIMITED. As a
result of these events, the Com pany’s ownership interest in this company de-
creased to 22.4% while the underlying equity value was not adversely affected.
Ricoh Elemex Corporation, a 44.8% owned major affiliate of which com m on
stock is publicly traded, becam e a consolidated subsidiary in fiscal 1999, as a result
of it being merged with a consolidated subsidiary and purchase of certain owner-
ship interest. In the accompanying consolidated financial statements, the invest-
ment in Ricoh Elem ex Corporation through September 30, 1998, was accounted
for on the equity basis, while the post-acquisition period for the six months ended
March 31, 1999 was consolidated. The effect on the consolidated results of opera-
tions for the year ended March 31, 1999, if Ricoh Elem ex Corporation had been
consolidated at the beginning of that year, was not significant.
The underlying book value of the other 20% to 50% owned companies is ap-
proximately the sam e as their carrying value.
Sum marized unaudited financial information for all affiliates as of March
31, 2000 and 2001 and for the three years ended March 31, 2001 is as follows:
Financial Position
$241,722
5 2 ,8 0 2
4 2 ,2 3 8
1,469,516
$1,806,278
¥3 0 ,4 5 7
6 ,6 5 3
5 ,3 2 2
185,159
¥ 2 2 7 ,5 9 1
¥38,619
7,670
6,358
190,662
¥243,309
Liabilities and shareholders’
investm ent—
Current liabilities
Short-term borrowings and
long-term indebtedness
Other liabilities
Shareholders’ investm ent
Assets—
Current assets
Other assets
Thousands of
U.S. dollars
2 0 0 1
Millions of yen
2 0 0 1
$986,064
820,214
$1,806,278
¥ 1 2 4 ,2 4 4
103,347
¥ 2 2 7 ,5 9 1
¥134,795
108,514
¥243,309
2000
Sales
Costs and
expenses
Net income
Thousands of
U.S. dollars
2 0 0 1
Millions of yen
2 0 0 1
2000
$2 ,0 9 3 ,6 8 2
2 ,0 1 6 ,9 6 0
$7 6 ,7 2 2
¥263,804
2 5 4 ,1 3 7
¥9 ,6 6 7
¥229,825
217,316
¥12,509
1999
¥240,422
228,547
¥11,875
Oper ations
on the future sale of the transferred securities by the trustee.
The gross realized gains on sale of available-for-sale securities were ¥1,589
million, ¥1,601 million and ¥2,898 million ( $23,000 thousand) for the years
ended March 31, 1999, 2000 and 2001, respectively. There were no significant re-
alized losses on sales of available-for-sale securities for the three years ended
March 31, 2001.