Notes to reconciliation of equity as of the date of transition to IFRS (1 April 2012) D Deferred tax assets A Property, plant and equipment E Other financial assets (non-current) B Other intangible assets F Other non-current assets C Investments in associates and joint ventures The major components of the reconciliation of equity as of the  date of transition to IFRS are as follows: (Presentation) Deferred tax assets presented separately as current and  non-current under Japanese GAAP have been presented as  non-current assets under IFRS. (Recognition and measurement) (Presentation) Under Japanese GAAP, “Buildings and structures, net”,  “Machinery, equipment and vehicles, net”, “Tools, furniture and  fixtures, net”, “Land”, and “Construction in progress” were  presented separately, whereas they have been presented  together as “Property, plant and equipment” under IFRS. Under Japanese GAAP, the tax effects associated with the  elimination of unrealised gain or loss is calculated using the  effective tax rate of the seller, while under IFRS, it is calculated  using the effective tax rate of the purchaser. In addition, deferred tax assets are recognised on the tem- porary differences resulting from the reconciliations to IFRS. Under Japanese GAAP, assets held for sale were included  in “Property, plant and equipment, net”, whereas they are  presented separately as “Assets held for sale” in accordance  with IFRS. (Recognition and measurement) The amount of “Property, plant and equipment” has decreased  as a result of revisions to the depreciation method and useful  lives and using the fair value as deemed cost for certain items  of property, plant and equipment upon the adoption of IFRS. “Investment securities” presented separately under Japanese  GAAP have been included in “Other financial assets” (non-current) under IFRS. (Presentation) Security deposits and other investments included in “Other”  comprising investments and other assets under Japanese  GAAP have been included in “Other financial assets”   (non-current) under IFRS. (Recognition and measurement) The carrying amount of the property, plant and equipment to  which the deemed cost was applied at the date of transition  was ¥56,052 million under Japanese GAAP and the fair value  was ¥55,152 million. Under Japanese GAAP, unquoted equity shares were stated at  cost calculated mainly by using the moving average method.  However, under IFRS, unquoted equity shares are measured at  fair value. As a result, there has been an increase of ¥10,403  million in “Other financial assets” (non-current). (Presentation) “Patents” presented separately under Japanese GAAP have  been included in “Other intangible assets” under IFRS. (Recognition and measurement) (Presentation) Security deposits and other investments included in “Other”  comprising investments and other assets under Japanese  GAAP have been included in “Other financial assets” (non-current) under IFRS. Under Japanese GAAP, costs associated with the in-licensing of  products and technologies incurred before filing an application  for approval from regulatory authorities were recognised as  research and development expenses, but under IFRS, those  costs that satisfy certain criteria are capitalised as intangible  assets and amortised over their estimated useful lives on a  straight-line basis. Also, the Group revised the useful lives of  certain marketing rights upon adoption of IFRS. As a result of  those factors, “Other intangible assets” has increased by  ¥147,078 million. Investments in associates and joint ventures included in  “Other” comprising investments and other assets under Japa- nese GAAP have been presented separately as “Investments  in associates and joint ventures” under IFRS. (Presentation) Investments in associates and joint ventures included in “Other”  comprising investments and other assets under Japanese  GAAP have been presented separately as “Investments in  associates and joint ventures” under IFRS. Astellas Pharma Inc.  _ Annual Report 2014 152