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LPL » Topics » Nine-Month Period Ended September 30, 2007

This excerpt taken from the LPL 6-K filed Nov 14, 2007.

Nine-Month Period Ended September 30, 2007

(Unaudited)

 

(in millions of Korean won)

   

Capital

stock

    Capital
surplus		    Accumulated
other comprehensive
Income		    Retained
earnings		    Total

Balance as of January 1, 2007

    (Won) 1,789,079    (Won) 2,275,172    (Won) (13,948)    (Won) 2,839,373    (Won) 6,889,676

Net income

      —        —        —        584,119      584,119

Changes in equity securities (Note 11)

      —        —        17,965      —        17,965

Gain on valuation of derivatives (Note 11)

      —        —        (16,616)      —        (16,616)

Loss on valuation of derivatives (Note 11)

      —        —        7,626      —        7,626

Changes in consideration for conversion rights

      —        35,899      —        —        35,899
                                  

Balance as of September 30, 2007

    (Won) 1,789,079    (Won) 2,311,071    (Won) (4,973)    (Won) 3,423,492    (Won) 7,518,669
                                  

The accompanying notes are an integral part of these non-consolidated financial statements.

See Report of Independent Accountants

 

7

Table of Contents

LG.Philips LCD Co., Ltd.

Notes to Non-Consolidated Financial Statements

September 30, 2007 and 2006

(Unaudited)

 

1. The Company

LG.Philips LCD Co., Ltd. (the “Company”) was incorporated in 1985 under its original name of LG Soft, Ltd. and commenced its manufacture and sale of Thin Film Transistor Liquid Crystal Display (“TFT LCD”) in 1999. On July 26, 1999, LG Electronics Inc., Koninklijke Philips Electronics N.V. and the Company entered into a joint venture agreement. Pursuant to the agreement, the Company changed its name from LG LCD Co., Ltd. to LG.Philips LCD Co., Ltd. on August 27, 1999 and on August 31, 1999, the Company issued new shares of common stock to Koninklijke Philips Electronics N.V. for (Won)725,000 million, and Koninklijke Philips Electronics N.V. acquired a 50% interest in the Company.

The Company listed its shares with the Korea Stock Exchange and with US Securities and Exchange Commission in July 2004.

As of September 30, 2007, the Company has outstanding capital stock amounting to (Won)1,789,079 million.

 

2. Summary of Significant Accounting Policies

The significant accounting policies followed by the Company in the preparation of its interim non-consolidated financial statements are same as those followed by the Company in its preparation of annual non-consolidated financial statements and are summarized below:

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