ANNUAL REPORT

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12. IMPAIRMENT OF PROPERTY, PLANT, EQUIPMENT AND INTANGIBLE ASSETS For the fiscal year ended March 31, 2009 and March 31, 2008, the impairment charges related to the following subsidiaries: (in JPY millions) 2009 2008 Property, plant and equipment Intangible Goodwill assets other than goodwill Total Property, plant and equipment Intangible Goodwill assets other than goodwill Asahi Tec 7,045 30,849 14,892 52,786 - 11,773 17,476 29,249 CME - 3,247 4,398 7,645 - - 197 197 HIT 6,699 6,957 25,186 38,842 - - - - Niles 232 9,770 - 10,002 - - - - Phoenix Seagaia Resort 13,993 - (9) 13,984 - - (2) (2) Total 27,969 50,823 44,467 123,259 0 11,773 17,671 29,444 Total 13. FINANCE INCOME AND EXPENSES 13.1. Recognized in profit or loss (in JPY millions) 2009 2008 Debt extinguishment 39,759 - Foreign exchange gains Unrealized 3,881 847 Realized 4,446 1,678 Gain on sale of available for sale financial assets 3,301 - Interest income 1,761 2,971 Others 821 373 Finance income 53,969 5,869 Interest expenses (19,154) (22,301) Foreign exchange loss Unrealized (6,181) (3,288) Realized (9,491) (4,150) Impairment loss on financial assets (1,298) - Fair value adjustment on financial assets (1,045) - Loss on sale of financial assets (333) - Others (1,198) (3,142) Finance expenses (38,700) (32,881) Net financial income (expense) 15,269 (27,012) 13.2. Recognized directly in equity (in JPY millions) 2009 2008 Foreign currency translation differences (8,165) (3,168) Net change in fair value of available for sale financial assets Net change in fair value available for sale financial assets transferred to profit or loss Attributable to: Recognized in : (5,057) 6,646 (3,314) - Cash flow hedges (1,064) 21 Others - (31) Income tax on income and expense recognized directly in equity 327 (67) Total (17,273) 3,401 Equity holders of the Company (13,193) 4,264 Minority interest (4,080) (863) Finance income (expense) recognized directly in equity, net of income tax (17,273) 3,401 Fair value reserve (8,367) 6,732 Hedging reserve (652) 16 Translation reserve (4,174) (2,484) Total (13,193) 4,264 60
FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED MARCH 31, 2009 14. INCOME TAX BENEFIT 14.1. Income tax benefit in the income statement (in JPY millions) Note 2009 2008 Current tax benefit (expense) Current year (1,531) (4,486) Adjustment for prior years 2 (45) Total (1,529) (4,531) Deferred tax benefit (expense) Origination and reversal of temporary differences 13,517 (3,309) Increase (reduction) of tax rate (318) 4,011 Recognition of previously unrecognized tax losses (3,564) 4,037 Change in unrecognized deductible temporary differences (1,874) (22) Total 7,761 4,717 Total income tax benefit excluding tax on sale of discontinued operations and share of income tax of equity accounted investees 6,232 186 Income tax benefit from continuing operations 6,233 3,134 Income tax expense from discontinued operations 7 (1) (2,948) Total income tax benefit in the income statement 6,232 186 14.2. Reconciliation of effective tax rate (In JPY millions) 2009 2008 Loss for the period 131,271 61,251 Total income tax benefit (expense) 6,232 (991) Loss before tax 137,503 60,260 Income tax using the corporation tax rate 35.9 % 49,383 38.8 % 23,358 Non-deductible expenses (1.1)% (1,483) (20.9)% (12,580) Tax exempt income 5.4 % 7,483 0.2 % 126 Tax incentives - - (6.7)% (4,037) Effect of tax losses utilized (22.5)% (30,929) 6.1 % 3,684 Current year losses for which no deferred tax asset was recognized (6.4)% (8,769) (17.8)% (10,741) Recognition of previously unrecognized tax losses (2.7)% (3,747) - - Change of tax rate (2.5)% (3,502) 4.9 % 2,949 Others (1.6)% (2,204) (4.3)% (2,573) Total 4.5 % 6,232 0.3 % 186 61
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ANNUAL REPORT Year Ended March 31,
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PART I LETTER TO SHAREHOLDERS AND B
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Support to our portfolio companies
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The evolution of the book value of
Page 12 and 13: Consolidated Financial Statements F
Page 14 and 15: Asahi Tec Corporation • Headquart
Page 16 and 17: RHJI's purchase agreement to buy ce
Page 18 and 19: Honsel International Technologies S
Page 20 and 21: Niles Co., Ltd. • Headquarters: J
Page 22 and 23: Columbia Music Entertainment, Inc.
Page 24 and 25: Phoenix Resort K.K. • Headquarter
Page 26 and 27: Shaklee Global Group, Inc. • Indu
Page 29 and 30: PART II FINANCIAL STATEMENTS FOR TH
Page 31 and 32: FINANCIAL STATEMENTS FOR THE FISCAL
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Page 107 and 108: PART III CORPORATE GOVERNANCE
Page 109 and 110: CORPORATE GOVERNANCE The Belgian Co
Page 111 and 112: CORPORATE GOVERNANCE The following
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CORPORATE GOVERNANCE (1997 to 2000)
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CORPORATE GOVERNANCE INVESTMENT AND
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CORPORATE GOVERNANCE Mr. Fischer ha
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CORPORATE GOVERNANCE OTHER TERMS RH
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CORPORATE GOVERNANCE STATUTORY AUDI
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CORPORATE GOVERNANCE 121
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PART IV SHAREHOLDERS’ INFORMATION
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SHAREHOLDERS’ INFORMATION SHARE P
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NOTES 127
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Co-ordination and Production : IPAC
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ANNUAL REPORT

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