Trust Recovery Growth Vitalization - Marubeni

Notes to Consolidated Financial Statements
The following table sets forth the computation of basic and diluted earnings per 100 shares:
Thousands of
Millions of yen U.S. dollars
2005 2004 2003 2005
Numerator:
Net income .................................................................................... ¥ 41,247 ¥ 34,565 ¥ 30,312 $385,486
Less: Preferred stock dividends .....................................................
Net income available to common shareholders (numerator for
(1,510) (442) – (14,112)
basic earnings per 100 shares) .....................................................
Effect of dilutive securities:
39,737 34,123 30,312 371,374
Convertible debentures ............................................................. 323 323 333 3,019
Preferred stock .......................................................................... 1,510 442 – 14,112
Numerator for diluted earnings per 100 shares .............................
Denominator:
Denominator for basic earnings per 100 shares –
¥ 41,570 ¥ 34,888 ¥ 30,645 $388,505
weighted average shares .............................................................
Effect of dilutive securities:
1,493,231,438 1,493,219,051 1,493,495,279
Convertible debentures ............................................................. 119,666,048 119,666,048 123,151,564
Preferred stock ..........................................................................
Denominator for diluted earnings per 100 shares –
250,000,000 117,406,406 –
adjusted weighted average shares and assumed conversions .... 1,862,897,486 1,730,291,505 1,616,646,843
Earnings per 100 shares of common stock:
Yen U.S. dollars
Basic .............................................................................................. ¥2,661 ¥2,285 ¥2,030 $24.87
Diluted ............................................................................................ ¥2,231 ¥2,016 ¥1,896 $20.85
Dividends of Class I preferred stocks are deducted from net income for net income available to common shareholders.
The convertible debentures issued in 1996 with a rate of 0.85% were dilutive for the years ended March 31, 2005, 2004 and 2003. The class
I preferred stock issued in 2003 was dilutive for the years ended March 31, 2005 and 2004.
3 Marketable Equity Securities and Debt Securities
The following is a summary of available-for-sale securities and held-to-maturity securities at March 31, 2005 and 2004:
Available-for-sale securities
Millions of yen
2005 2004
Gross Gross Gross Gross
Unrealized Unrealized Unrealized Unrealized
Cost Gains Losses Fair Value Cost Gains Losses Fair Value
Current:
Debt securities ...........................
Non-current:
¥ 701 ¥ 183 ¥ (2) ¥ 882 ¥ 5,509 ¥ 80 ¥ (104) ¥ 5,485
Debt securities ........................... ¥ 22,720 ¥ 501 ¥ (9) ¥ 23,212 ¥ 7,309 ¥ 325 ¥ – ¥ 7,634
Marketable equity securities ...... 140,249 74,516 (7,155) 207,610 121,454 62,829 (5,993) 178,290
Total ....................................... ¥162,969 ¥75,017 ¥(7,164) ¥230,822 ¥128,763 ¥63,154 ¥(5,993) ¥185,924
Thousands of U.S. dollars
2005
Gross Gross
Unrealized Unrealized
Cost Gains Losses Fair Value
Current:
Debt securities ........................... $
Non-current:
6,551 $ 1,710 $ (18) $ 8,243
Debt securities ........................... $ 212,337 $ 4,682 $ (84) $ 216,935
Marketable equity securities ...... 1,310,738 696,411 (66,869) 1,940,280
Total ....................................... $1,523,075 $701,093 $(66,953) $2,157,215