3. INVESTMENTS IN DEBT, EQUITY SECURITIES AND OTHER INVESTMENTS

Available-for-sale securities are recorded at fair value, with unrealized gains and losses excluded from income and reported in other comprehensive income, net of tax. Held-to-maturity securities are recorded at amortized cost. Non-marketable equity securities are accounted by the cost method.

Other-than-temporary loss on debt and equity securities for the years ended March 31, 2014, 2015 and 2016 are as follows:


	Years ended March 31,
	2014		2015		2016
	(Yen in millions)
Other-than-temporary loss on debt and equity securities	¥	109	¥	2	¥	—

(1)	Debt and equity securities with readily determinable fair values

Investments in debt and equity securities at March 31, 2015 and 2016, included in short-term investments in debt and equity securities and in long-term investments in debt and equity securities are summarized as follows:


	March 31,
	2015								2016
	*Cost^1**		Aggregate Fair Value		Gross Unrealized Gains		Gross Unrealized Losses		*Cost^1**		Aggregate Fair Value		Gross Unrealized Gains		Gross Unrealized Losses
	(Yen in millions)
Available-for-sale securities:
Marketable equity securities^*2	¥	273,271	¥	1,007,629	¥	734,358	¥	0	¥	267,598	¥	1,073,390	¥	805,895	¥	103
Investment trusts		12,500		12,500		—		—		—		—		—		—

Total equity securities		285,771		1,020,129		734,358		0		267,598		1,073,390		805,895		103

Total available-for-sale securities		285,771		1,020,129		734,358		0		267,598		1,073,390		805,895		103

Held-to-maturity securities:
Corporate bonds		126,739		126,692		67		114		159,575		159,201		155		529
Government bonds and public bonds		7		7		—		—		4		4		—		—

Total held-to-maturity securities		126,746		126,699		67		114		159,579		159,205		155		529

Total	¥	412,517	¥	1,146,828	¥	734,425	¥	114	¥	427,177	¥	1,232,595	¥	806,050	¥	632

1 Cost represents amortized cost for held-to-maturity securities and acquisition cost for available-for-sale securities. The cost basis of the individual securities is written down to fair value as a new cost basis when other-than-temporary impairment is recognized. 2 Marketable equity securities mainly consist of the shares of KDDI Corporation, which is a telecommunications carrier in Japan. At March 31, 2016, Kyocera Corporation’s equity interest in KDDI Corporation was 12.45%. Kyocera recorded dividend income of ¥22,334 million for the year ended March 31, 2016, which were included in interest and dividend income in the consolidated statements of income. Cost, aggregate fair value and gross unrealized gain of the shares of KDDI Corporation held by Kyocera are as follows:
	March 31,
	2015								2016
	Cost		Aggregate Fair Value		Gross Unrealized Gain		Gross Unrealized Loss		Cost		Aggregate Fair Value		Gross Unrealized Gain		Gross Unrealized Loss
	(Yen in millions)
Shares of KDDI Corporation	¥	249,036	¥	934,781	¥	685,745	¥	—	¥	242,868	¥	1,007,299	¥	764,431	¥	—

Short-term investments in debt and equity securities and long-term investments in debt and equity securities at March 31, 2015 and 2016 are as follows:


	March, 31
	2015						2016
	Available- for-Sale		Held-to- Maturity		Total		Available- for-Sale		Held-to- Maturity		Total
	(Yen in millions)
Short-term investment in debt and equity securities	¥	12,500	¥	82,737	¥	95,237	¥	—	¥	101,566	¥	101,566
Long-term investment in debt and equity securities		1,007,629		44,009		1,051,638		1,073,390		58,013		1,131,403

Total	¥	1,020,129	¥	126,746	¥	1,146,875	¥	1,073,390	¥	159,579	¥	1,232,969

At March 31, 2016, the contractual maturities of available-for-sale and held-to-maturity securities are summarized as follows:


	March 31, 2016
	Available-for-Sale				Held-to-Maturity
	Cost		Aggregate Fair Value		Cost		Aggregate Fair Value
	(Yen in millions)
Due within 1 year	¥	—	¥	—	¥	101,566	¥	101,644
Due after 1 year to 5 years		—		—		58,013		57,561
Equity securities		267,598		1,073,390		—		—

Total	¥	267,598	¥	1,073,390	¥	159,579	¥	159,205

Proceeds from sales of available-for-sale securities and the related gross realized gains and losses for the years ended March 31, 2014, 2015 and 2016 are as follows:


	Years ended March 31,
	2014		2015		2016
	(Yen in millions)
Proceeds from sales of available-for-sale securities	¥	24,440	¥	22,766	¥	39,118
Gross realized gains		3,323		494		20,352
Gross realized losses		460		—		1

For the purpose of computing gains and losses, the cost of those securities is determined by the moving average method. Due to the sale of the shares of KDDI Corporation, Kyocera recorded gains in the amount of ¥20,000 million, which were included in gains on sales of securities, net in the consolidated statements of income for the year ended March 31, 2016.

(2)	Other investments

Kyocera holds time deposits and certificates of deposits which are due over three months to original maturity, non-marketable equity securities, long-term loans and investments in affiliates and an unconsolidated subsidiary. Carrying amounts of these investments at March 31, 2015 and 2016, included in other short-term investments and in other long-term investments, are summarized as follows:


	March 31,
	2015		2016
	(Yen in millions)
Time deposits and certificates of deposits (due over 3 months)	¥	186,953	¥	213,967
Non-marketable equity securities		13,664		13,718
Long-term loans		4		53
Investments in affiliates and an unconsolidated subsidiary		4,139		6,005

Total	¥	204,760	¥	233,743