Casio 2007 Annual Report Download - page 39

37
Annual Report 2007
Under the Code, companies were required to set aside an amount equal to at least 10% of the aggregate amount of cash divi-
dends and other cash appropriations as legal earnings reserve until the total of legal earnings reserve and additional paid-in capital
equaled 25% of common stock.
Under the Code, legal earnings reserve and additional paid-in capital could be used to eliminate or reduce a deficit by a resolu-
tion of the shareholders’ meeting or could be capitalized by a resolution of the Board of Directors. Under the Law, both of these
appropriations generally require a resolution of the shareholders’ meeting.
Additional paid-in capital and legal earnings reserve may not be distributed as dividends. Under the Code, however, on condi-
tion that the total amount of legal earnings reserve and additional paid-in capital remained equal to or exceeded 25% of common
stock, they were available for distribution by resolution of the shareholders’ meeting. Under the Law, all additional paid-in-capital
and all legal earnings reserve may be transferred to other capital surplus and retained earnings, respectively, which are potentially
available for dividends.
The maximum amount that the Company can distribute as dividends is calculated based on the non-consolidated financial
statements of the Company in accordance with Japanese laws and regulations.
12. Lease Transactions
(1) Finance leases
The amounts of outstanding future lease payments due at March 31, 2007 and 2006 and total lease expenses (including total
assumed depreciation cost and total assumed interest cost) as lessee for the years ended March 31, 2007 and 2006 were as follows:
Thousands of
Millions of Yen U.S. Dollars
2007 2006 2007
Future lease payments:
Due within one year .............................................................................. ¥4,074 ¥4,132 $34,526
Due over one year ................................................................................ 7,264 5,898 61,559
Total...................................................................................................... ¥11,338 ¥10,030 $96,085
Total lease expenses ................................................................................... ¥4,711 ¥5,194 $39,924
Total assumed depreciation cost ................................................................. ¥4,321 ¥4,746 $36,619
Total assumed interest cost......................................................................... ¥ 306 ¥387 $2,593
Assumed data as to acquisition cost, accumulated depreciation and net book value of the leased assets under the finance lease
contracts as lessee at March 31, 2007 and 2006 were summarized as follows:
Millions of Yen Thousands of U.S. Dollars
2007 2006 2007
Acquisition Accumulated Net book Acquisition Accumulated Net book Acquisition Accumulated Net book
cost depreciation value cost depreciation value cost depreciation value
Machinery ........................................ ¥15,183 ¥ 7,055 ¥ 8,128 ¥17,712 ¥11,604 ¥6,108 $128,670 $59,788 $68,882
Equipment ........................................ 4,197 2,350 1,847 4,272 1,958 2,314 35,568 19,916 15,652
Other ................................................ 2,181 1,096 1,085 2,077 834 1,243 18,483 9,288 9,195
Total ............................................ ¥21,561 ¥10,501 ¥11,060 ¥24,061 ¥14,396 ¥9,665 $182,721 $88,992 $93,729
(2) Operating leases
The amount of outstanding future lease payments due at March 31, 2007 and 2006 were as follows:
Thousands of
Millions of Yen U.S. Dollars
2007 2006 2007
Future lease payments:
Due within one year .............................................................................. ¥184 ¥279 $1,560
Due over one year ................................................................................. 167 79 1,415
Total...................................................................................................... ¥351 ¥358 $2,975