ANNUAL REPORT

FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED MARCH 31, 2009
17.2. Changes during the year
(in JPY millions) 2009 2008
Opening balance 22,321 21,633
Acquisitions 1,361 -
Net results 283 858
Impairment losses (10,888) -
Dividends (352) -
Effect of exchange rates (298) (12)
Others (122) (158)
Closing balance 12,305 22,321
The share of loss of equity accounted investees of JPY 10,605 million is split as follows:
(in JPY millions)
Profit (loss)
for the period
Impairment
loss
Shaklee 725 (6,050) (5,325)
SigmaXYZ (763) - (763)
U-shin (56) (4,838) (4,894)
Equity accounted investees at Asahi Tec 377 - 377
Total 283 (10,888) (10,605)
Total
17.3. Goodwill and impairment of goodwill
The goodwill relating to equity accounted investees is as follows:
(in JPY millions) Note Shaklee SigmaXYZ U-shin
March 31,
2009
March 31,
2008
March 31,
2009
March 31,
2008
March 31,
2009
For purposes of the goodwill impairment test, the Company recognized impairment loss on Shaklee and U-shin for the fiscal year
ended March 31, 2009 for respectively JPY 6,050 million and JPY 2,330 million. In addition to the goodwill impairment, the Company
recognized an impairment on its financial asset held in U-shin for JPY 2,508 million during the fiscal year ended March 31, 2009.
The recoverable amount of RHJI's investments in Shaklee and U-shin was based on the estimation of their fair value, which was
determined by applying publicly observed valuation multiples on their current and projected earnings, derived from their publicly
disclosed forecasts for the fiscal year ending March 31, 2010.
March 31,
2008
Investment 12,520 12,244 1,085 - 8,038 8,038
Equity as of acquisition date 5,139 5,139 2,000 - 28,538 28,538
Ownership 35 42.5% 40.7% 49.0% - 20.0% 20.0%
Goodwill 4,102 10,152 87 - - 2,330
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