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58
Notes to Consolidated Financial Statements
Toshiba Corporation and Subsidiaries
March 31, 2011
The Group allocated the purchase price to the assets acquired and liabilities assumed in accordance with ASC No.805.
The following table summarizes the allocation of the purchase price and the fair values of noncontrolling interests to
the identifiable assets acquired and liabilities assumed as of the acquisition date:
As of the acquisition date Millions of yen
Thousands of
U.S. dollars
Purchase price ¥ 21,206 $ 255,494
Noncontrolling interests 4,214 50,771
Tot al ¥ 25,420 $ 306,265
Current assets ¥ 42,340 $ 510,120
Non-current assets 13,067 157,434
Current liabilities 25,989 313,120
Non-current liabilities 4,085 49,217
Total identifi able net assets acquired ¥ 25,333 $ 305,217
The excess of the purchase price and fair value of noncontrolling interests over the fair value of the identifiable assets
acquired and liabilities assumed was recorded as goodwill.
Operating results of TSDC is included in the Company’s consolidated statements of income from the acquisition date.
The Group acquired all the remaining shares of TSDC held by Fujitsu on December 28, 2010. With the completion of
the transaction, TSDC has become a wholly owned subsidiary of the Company.
On December 15, 2009, the Group increased its ownership in its former affiliate Chevalier (HK) Limited and its
subsidiaries (“Chevalier (HK)”) by acquiring an additional 2% stake to 51% in cash and consequently acquired a
controlling financial interest of Chevalier (HK). The investment is intended to further strengthen the Group’s presence in
lifts and escalators industries of the global market, mainly in China and Southeast Asia.
The Group allocated the purchase price to the assets acquired and liabilities assumed in accordance with ASC No.805.
The following table summarizes the allocation of the purchase price and the fair values of noncontrolling interests to
the identifiable assets acquired and liabilities assumed as of the acquisition date:
As of the acquisition date Millions of yen
Thousands of
U.S. dollars
Purchase price ¥ 8,455 $ 101,868
Noncontrolling interests 7,767 93,578
Tot al ¥ 16,222 $ 195,446
Current assets ¥ 4,408 $ 53,108
Non-current assets 165 1,988
Intangible assets subject to amortization 11,974 144,265
Current liabilities 3,281 39,530
Non-current liabilities 1,980 23,855
Total identifi able net assets acquired ¥ 11,286 $ 135,976
Identifiable intangible assets acquired mainly consist of customer relationships based on maintenance contracts.
The Group is amortizing the intangible assets over a weighted-average estimated life of 17.8 years.
The excess of the purchase price and fair value of noncontrolling interests over the fair value of the identifiable assets
acquired and liabilities assumed, amounted to ¥4,936 million ($59,470 thousand), which was recorded as goodwill and
allocated within Social Infrastructure. Among the factors that contributed to the recognition of goodwill was the
predominance of the Chevalier Group in Chinese and Southeast Asian market based on its trustful long-term
relationships with customers.
Operating results of Chevalier (HK) are included in the Company’s consolidated statements of income from the
acquisition date.
Pro-forma result of operation as a result of the above business combinations is immaterial for the year ended March 31,
2010.