20. Net Income Per Share Basic net income (loss) per share (“EPS”) for the years ended March 31, 2010 and 2009 was as follows: Millions of Yen Thousands of Shares Yen U.S. Dollars Net Income (Loss) Weighted- Average Shares EPS Year Ended March 31, 2010 Basic EPS—Net loss available to common shareholders ¥(5,332) 278,897 ¥(19.12) $(0.21) Year Ended March 31, 2009 Basic EPS—Net income available to common shareholders ¥ 475 278,913 ¥ 1.70 Diluted EPS is not disclosed because of the Company’s net loss position in 2010. Diluted EPS is not disclosed because it is anti-dilutive in 2009. approximately 29.98% of Sun Wave’s total shares out- standing at the time acquired) in order to pursue synergy  effects in the areas of product development, purchasing  materials, production, distribution, installation and after- sales services. However, due to the severe business envi- ronment with deteriorating new housing starts and sluggish  demand in the renovation market, the companies decided  best to have Sun Wave become a subsidiary of the Com- pany through the share exchange in order to pursue stra- tegic unity of the Group with speed to maximize synergy  effects. The Company acquired Sun Wave Corporation (“Sun Wave”) on  April 1, 2010 through a share exchange scheme based on the  Share Exchange Agreement signed with Sun Wave on December  14, 2009. The Company transferred 12,523,000 shares of Sun  Wave (equal to approximately 20.04% of Sun Wave’s total shares  outstanding) to Nisshin Steel Co., Ltd. (“Nisshin Steel”) on April 7,  2010 based on the Share Transfer Contract signed with Nisshin  Steel on December 14, 2009. As a result, Sun Wave, which was an  equity method affiliate prior to the transaction, became one of the  consolidated subsidiaries of the Company. 21. Subsequent Events a. Sun Wave Corporation Becoming a Subsidiary of the Group (1) Information of share exchange with Sun Wave (e) Percentage of ownership ratio acquired 1. Overview of the acquired company, major reasons for the  acquisition, date of the acquisition, a legal form of the acquisi- tion, name of the acquired company after the acquisition and  ownership ratio acquired (a) The name of the acquired company and its business (as of  December 31, 2009) (c) Date of the acquisition (d) Legal form of the acquisition and name of the acquired  company after the acquisition Legal form: Share exchange Name of the company after the acquisition: Sun Wave Corporation April 1, 2010 2. Acquisition cost and its breakdown  The Company and Sun Wave signed a business and capi- tal alliance contract on June 8, 2009 and the Company  acquired 18,750,000 shares of Sun Wave (equal to  Name of the company:  Sun Wave Corporation Location of the headquarters:   2-6-10, Sarugaku-cho,  Chiyoda-ku, Tokyo Representative:  President Shonosuke Oda Major businesses:   Manufacture and sales of  kitchen units for houses,  sanitary equipment for  houses, and commercial  equipment Capital stocks:  ¥14,551 million Net assets:   ¥34,630 million  (consolidated) Total assets:   ¥71,449 million  (consolidated) (b) Major reasons for the acquisition Millions of Yen Cost of acquisition:  Market price of Sun Wave shares owned before the share exchange  ¥ 6,854  Market price of the Company shares granted on the acquisition date  15,993 Expenditure directly required for acquisition  10 Acquisition cost  ¥22,857  Percentage of voting interest owned before the acquisition:  30.33%  Additionally acquired percentage of voting interest on the date of acquisition:  69.67%  Percentage of voting interest owned after the acquisition:  100% JS Group Corporation Annual Report 2010 80