Yamaha 2011 Annual Report Download - page 70

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68 Yamaha Corporation
For the year ended March 31, 2011, the Company has carried over the revaluation of their landholdings at the date of revaluation in accordance
with the “Law Concerning the Revaluation of Land” (Law No.34 published on March 31, 1998). The date of revaluation was March 31, 2002.
For the years ended March 31, 2011 and 2010, the Company determined the value of its land based on the respective value registered in the
land tax list or the supplementary land tax list as specified in No.10 or No.11 of Article 341 of the Local Tax Law governed by Item 3 of Article 2 of the
Enforcement Order for the “Law Concerning the Revaluation of Land” (Cabinet Order No.119 published on March 31, 1998).
The excess of the revalued carrying amount of such land over its market value at March 31, 2011 and 2010 is summarized as follows:
Millions of yen
Thousands of
U.S. dollars (Note 3)
2011 2010 2011
Excess of revalued carrying amount of land over market value ¥(4,385) ¥(1,607) $(52,736)
Provision for loss on construction contracts was included in the following account for the years ended March 31, 2011 and 2010:
Millions of yen
Thousands of
U.S. dollars (Note 3)
2011 2010 2011
Cost of sales ¥12 ¥14 $144
Inventories at March 31, 2011 and 2010 were as follows:
Millions of yen
Thousands of
U.S. dollars (Note 3)
2011 2010 2011
Merchandise and finished goods
¥47,361 ¥48,087 $569,585
Work in process 13,620 12,496 163,800
Raw materials and supplies 10,678 8,935 128,419
¥71,659 ¥69,518 $861,804
Write down of inventories for the year ended March 31, 2011 and 2010 were recognized in the following account:
Millions of yen
Thousands of
U.S. dollars (Note 3)
2011 2010 2011
Cost of sales ¥(365) ¥(575) $(4,390)
7. Land Revaluation
9. Provision for Loss on Construction Contracts
8. Inventories