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## Reconciliation of effective tax rate 

The Company is subject mainly to corporate tax, inhabitant tax, and enterprise tax on its income and the effective statutory tax rate calculated based on those taxes for the fiscal years ended 31 March 2013 and 2014 was 37.7%. Foreign subsidiaries are subject to income taxes on their income in their respective countries of domicile. 

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## 13. earnings per share 

The basis of calculation of basic earnings per share and diluted earnings per share is as follows: 

<img src='content_image/194019.jpg'>

(Note) On 1 April 2014, the Company completed a five-for-one share split based on the resolution of the board of directors meeting held on 28 February 2014. Basic earnings per share and diluted earnings per share were calculated under the assumption that the share split took effect at the beginning of the previous fiscal year. 

