Toyota 2015 Annual Report Download - page 215

TOYOTA MOTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
In the reconciliation table above, derivative financial instruments are presented net of assets and liabilities.
“Other” includes the currency translation adjustments for the years ended March 31, 2014, 2015 and 2016.
As of March 31, 2016, the Level 3 assets and liabilities measured at fair value on a recurring basis are not
significant.
Certain assets and liabilities are measured at fair value on a nonrecurring basis. During the years ended
March 31, 2015 and 2016, Toyota measured certain finance receivables at fair value of ¥40,901 million and
¥57,505 million based on the collateral value, resulting in loss of ¥2,790 million and gain of ¥249 million,
respectively. This fair value measurement on a nonrecurring basis is classified in Level 3. See note 22 to the
consolidated financial statements for the fair value measurement. These Level 3 financial assets are not
significant.
28. Restructuring charges and asset impairments:
In February 2014, TMC and Toyota Motor Corporation Australia Ltd., its production and sales subsidiary in
Australia, decided to end their vehicle and engine production in Australia by the end of 2017. In fiscal 2014,
Toyota recorded costs and expenses of ¥83,073 million relating to the end of production in Australia in the
automotive segment. These costs and expenses consist primarily of long-lived assets impairment charges of
¥47,190 million and other restructuring charges of ¥35,883 million. In fiscal 2015 and 2016, Toyota recorded
additional charges which were not material. Toyota expects to incur additional charges in fiscal 2017 and 2018
which are not material to Toyota.
29. Significant subsequent events:
Suspension of operations on vehicle assembly lines in Japan -
Due to parts shortages resulting from the Kumamoto Earthquake that struck Japan’s island of Kyushu in
April 2016, production on vehicle assembly lines in Japan was suspended in stages starting on April 18, 2016 and
production has been restarted in stages starting on April 25. It is uncertain how this suspension will affect
Toyota’s financial results.
Repurchase of share -
At the Meeting of the Board of Directors held on May 11, 2016, TMC resolved to repurchase the Common
Shares pursuant to Article 156 of the Companies Act as applied to Article 165, Paragraph 3 of the Companies
Act, as set forth below.
Reason for repurchasing shares -
To return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view
of the business environment.
Details of matters relating to repurchase -
Kind of stock to be repurchased ............... Common stock of TMC
Number of shares to be repurchased ............ 100,000,000 shares (maximum)
Total purchase price for repurchase of shares ..... ¥500,000 million (maximum)
Method of acquisition ....................... Market purchase through a trust bank
Period of repurchase ........................ From May 18, 2016 to November 17, 2016
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