22. Brokerage Commissions and Net Gains on Investment Securities

Brokerage commissions and net gains (losses) on investment securities in fiscal 2009, 2010 and 2011 consist of the following:


	Millions of yen							Millions of U.S. dollars
	2009			2010		2011		2011
Brokerage commissions	¥	5,025		¥	3,418	¥	119	$	1
Net gains (losses) on investment securities		(22,301	)		14,863		16,656		201
Dividends income		4,732			5,072		4,345		52

	¥	(12,544	)	¥	23,353	¥	21,120	$	254

Trading activities—Net gains (losses) on investment securities include net trading losses of ¥13,143 million, net trading gains of ¥8,762 million and net trading gains of ¥4,607 million ($55 million) for fiscal 2009, 2010 and 2011, respectively. Net gains of ¥3,874 million, net losses of ¥239 million and net gains of ¥1,977 million ($24 million) on derivative trading instruments are also included in net gains (losses) on investment securities for fiscal 2009, 2010 and 2011, respectively.