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Currently and subject to eligibility, income taxpayers are entitled to deduct 40% of their investments in tangible fixed assets used in their income producing activity. We account for growth opportunities by using the firm's investment rate, the ratio of investments in tangible fixed assets over tangible fixed assets and we use the ratio of but proceeds from the sale of tangible fixed assets and transfer of goodwill amounted to 1,160 million yen and 1,127 million yen, respectively. |
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