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53 Sharp Annual Report 2008
3. Inventories
Finished products ............................................................................................
Work in process ...............................................................................................
Raw materials...................................................................................................
$ 2,005,848
1,498,495
1,085,071
$ 4,589,414
¥ 198,579
148,351
107,422
¥ 454,352
¥ 194,371
119,362
121,910
¥ 435,643
200820082007
Yen
(millions) U.S. Dollars
(thousands)
The following table summarizes the significant differences between the normal tax rate and the effective tax rate for financial state-
ment purposes for the years ended March 31, 2007 and 2008:
Normal tax rate .............................................................................................................................
Tax credit and other.................................................................................................................
Differences in normal tax rates of overseas subsidiaries............................................................
Dividend income ......................................................................................................................
Undistributed earnings of overseas subsidiaries .......................................................................
Expenses not deductible for tax purposes and other................................................................
Effective tax rate ...........................................................................................................................
40.6 %
(6.0)
(2.9)
1.3
0.7
2.7
36.4 %
2008
40.6 %
(7.5)
(1.9)
2.2
0.6
1.3
35.3 %
2007
4. Income Taxes
The Company is subject to a number of different income
taxes which, in the aggregate, indicate a normal tax rate in
Japan of approximately 40.6% for the years ended March 31,
2007 and 2008.
T
he Company and its wholly owned domestic subsidiaries
have adopted the consolidated tax return system of Japan.
Inventories as of March 31, 2007 and 2008 were as follows:
The proceeds from sales of other securities were ¥1,882
million and ¥11,275 million ($113,889 thousand) for the years
ended March 31, 2007 and 2008, respectively. The gross
realized gains on those sales were ¥1,432 million and ¥3,310
million ($33,434 thousand), respectively. The gross realized
losses on those sales were ¥2 million and ¥69 million ($697
thousand), respectively.
Other securities with no available fair market values princi-
pally consisted of unlisted equity securities whose carrying
amounts were ¥14,326 million and ¥13,728 million ($138,667
thousand) as of March 31, 2007 and 2008, respectively.