ANNUAL REPORT

3.21. Segment reporting
A segment is a distinguishable component of the Company that
is engaged either in providing related products or services
(business segment), or in providing products or services within a
particular economic environment (geographical segment), which
is subject to risks and returns that are different from those of
other segments. The Company is a diversified holding company
engaged in various industries and has chosen a segment
reporting format based on the businesses it is managing.
Segment assets and liabilities include those operating assets
and liabilities that are directly attributable to a segment or can
be allocated to a segment on a reasonable basis.
3.22. Non-current assets held for
sale and discontinued operations
A discontinued operation is a component of the Company’s
business that represents a separate major line of business or
geographical area of operations or is a subsidiary acquired
exclusively with a view to resale. Classification as a discontinued
operation occurs upon disposal or when the operation meets the
criteria to be classified as held for sale, if earlier. A disposal
group that is to be abandoned may also qualify.
Immediately before classification as held for sale, the
measurement of all assets and liabilities in the disposal group is
brought up-to-date in accordance with applicable IFRSs. On
initial classification as held for sale, non-current assets and
disposal groups are recognized at the lower of carrying amount
and fair value less cost to sell. Impairment losses on initial
classification as held for sale are included in profit or loss. The
same applies to gains and losses on subsequent
remeasurement.
3.23. Recently issued standards and
interpretations not yet adopted
To the extent that new IFRS requirements are expected to be
applicable in the future, they have been summarized hereafter.
For the year ended March 31, 2009, they have not been applied in
preparing the consolidated financial statements.
IFRS 8 Operating Segments introduces the ‘management
approach’ to segment reporting. IFRS 8, which becomes
mandatory for RHJI’s March 31, 2010 financial statements, will
require the disclosure of segment information based on the
internal reports regularly reviewed by RHJI’s Executive
Management in order to assess each segment’s performance
and to allocate resources to them. Currently RHJI presents
segment information in respect of its geographical and business
segments. RHJI does not expect that IFRS 8 will trigger a
material change to our current segment reporting.
Revised IAS 23 Borrowing Costs removes the option to expense
borrowing costs and requires that an entity capitalizes
borrowing costs directly attributable to the acquisition,
construction or production of a qualifying asset as part of the
cost of that asset. The revised IAS 23 will become mandatory for
RHJI’s March 31, 2010 financial statements and will constitute a
change in accounting policy for RHJI. In accordance with the
transitional provisions RHJI will apply the revised IAS 23 to
qualifying assets for which capitalization of borrowing costs
commences on or after the effective date of the standard. We do
not expect any material impact.
IFRIC 13 Customer Loyalty Programs addresses the accounting
by entities that operate, or otherwise participate in, customer
loyalty programs for their customers. It relates to customer
loyalty programs under which the customer can redeem credits
for awards such as free or discounted goods or services. IFRIC
13, which becomes mandatory for RHJI’s March 31, 2010
financial statements, is not expected to have any material
impact.
Revised IAS 1 Presentation of Financial Statements (2007)
introduces the term total comprehensive income, which
represents changes in equity during a period other than those
changes resulting from transactions with owners in their
capacity as owners. Total comprehensive income may be
presented in either a single statement of comprehensive income
(effectively combining both the income statement and all nonowner
changes in equity in a single statement), or in an income
statement and a separate statement of comprehensive income.
Revised IAS 1, which becomes mandatory for RHJI’s March 31,
2010 consolidated financial statements, is not expected to have
an impact on the presentation of the consolidated financial
statements. RHJI plans to continue to provide total
comprehensive income in an income statement and a separate
single statement of other comprehensive income for its March
31, 2010 consolidated financial statements.
Amendments to IAS 32 Financial Instruments : Presentation and
IAS 1 Presentation of Financial Statements – Puttable Financial
Instruments and Obligations Arising on Liquidation requires
puttable instruments, and instruments that impose on the entity
an obligation to deliver to another party a pro rata share of the
net assets of the entity only on liquidation, to be classified as
equity if certain conditions are met. The amendments, which
become mandatory for RHJI’s March 31, 2010 consolidated
financial statements, with retrospective application required, are
not expected to have any material impact.
Revised IFRS 3 Business Combinations (2008) incorporates the
following changes that are likely to be relevant to RHJI’s
operations :
• The definition of a business has been broadened, which is
likely to result in more acquisitions being treated as
business combinations.
• Contingent consideration will be measured at fair value, with
subsequent changes therein recognized in profit or loss.
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