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66
ANNUAL REPORT 2009
To Our Shareholders
and Customers
Fiscal 2009
Highlights
Progress of the
16th MTP
Creating New
Customer Value
RICOH
Milestones
Sustainable Environ-
mental Management
Corporate Social
Responsibility
Financial
Section
The following table presents the fair-value hierarchy levels of Ricoh’s assets and liabilities that are measured at fair value on a recurring basis
as of March 31, 2009.
19. FAIR VALUE MEASUREMENTS
In September 2006, the FASB issued SFAS 157, which defines fair
value, establishes a framework for measuring fair value, and
expands disclosures about fair value measurements. SFAS 157
applies under other accounting pronouncements that require or
permit fair value measurements, where fair value is the relevant
measurement attribute. SFAS 157 does not require any new fair
value measurements. SFAS 157 is effective for fiscal years
beginning after November 15, 2007, and was adopted by Ricoh in
the fiscal year beginning April 1, 2008. Pursuant to the provisions
of FSP 157-2, Ricoh have decided to defer adoption of SFAS 157 for
one year for nonfinancial assets and nonfinancial liabilities that are
recognized or disclosed at fair value in the financial statements on a
nonrecurring basis.
SFAS 157 defines fair value as the price that would be received to
sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. SFAS 157
establishes a three-level fair value hierarchy that prioritizes the
inputs used to measure fair value. The three levels of inputs used
to measure fair value are as follows:
Limitations:
Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument.
These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined
with precision. Changes in assumptions could significantly affect the estimates.
Level 1 - Inputs are quoted prices in active markets for identical assets or liabilities.
Level 2 -
Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or
liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs
which are derived principally from or corroborated by observable market data.
Level 3 - Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.
Millions of Yen
March 31, 2009
Level 1 Level 2 Level 3 Total
Assets:
Trading and Available-for-sale securities
45,761 - - 45,761
Derivative instruments
- 1,359 - 1,359
Other investments
- - 4,293 4,293
Total assets
45,761 1,359 4,293 51,413
Liabilities:
Derivatives instruments
- 6,827 - 6,827
Total liabilities
- 6,827 - 6,827
Thousands of Dollars
March 31, 2009
Level 1 Level 2 Level 3 Total
Assets:
Trading and Available-for-sale securities
462,232 - - 462,232
Derivative instruments
- 13,727 - 13,727
Other investments
- - 43,364 43,364
Total assets
462,232 13,727 43,364 519,323
Liabilities:
Derivatives instruments
- 68,960 - 68,960
Total liabilities
- 68,960 - 68,960