Casio 2014 Annual Report Download - page 33

Bonds and long-term loans payable at March 31, 2014 and 2013:
Millions of Yen
Thousands of
U.S. Dollars
2014 2013 2014
Euro-yen convertible bond-type bonds with subscription rights
to shares due in 2015* ¥ 250 ¥ 250 $ 2,427
1.32% unsecured bonds due in 2014 —10,000 —
1.07% unsecured bonds due in 2015 15,000 15,000 145,631
1.785% unsecured Eurobonds due in 2015 7,366 6,278 71,515
Loans principally from banks at average interest rates of 0.7%
due within one year** 28,749 25,000 279,116
Loans principally from banks at average interest rates of 0.5%
due over one year** 30,000 52,900 291,262
Total 81,365 109,428 789,951
Less amount due within one year 36,365 35,000 353,058
¥45,000 ¥ 74,428 $436,893
* Details of bonds with subscription rights to shares (“warrants”)
Type of shares involved: common shares
Price of warrant: gratis
Share issue price: ¥1,952
Total issue amount: ¥50,000 million
Total value of new shares issued upon exercise of warrants: —
Warrant-linked: 100%
Period of exercise of warrants: July 3, 2008 to March 17, 2015
Upon request to exercise warrants in question, payments usually required for the issuance of the corresponding number of shares shall
be exempted as the issuer of bonds in question, in return, will be automatically exempted from obligation of redemption of the bonds in
lump-sum.
Exercise of warrants in question shall be regarded as an eligible request for exercise of subscription rights.
** An average interest rate is the weighted average rate on the year-end balance of loans payable.
The annual maturities of bonds and long-term loans payable at March 31, 2014:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
2015 ¥36,365 $353,058
2016 15,000 145,631
2017 23,000 223,301
2018 2,000 19,417
2019 5,000 48,544
Thereafter — —
The annual maturities of lease obligations at March 31, 2014:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
2015 ¥840 $8,155
2016 690 6,699
2017 488 4,738
2018 249 2,417
2019 73 709
Thereafter 164 1,592
The lines of credit with the main financial institutions agreed as of March 31, 2014 and 2013:
Millions of Yen
Thousands of
U.S. Dollars
2014 2013 2013
Line of credit ¥57,300 ¥57,450 $556,311
Unused 57,300 57,450 556,311
9. Income Taxes
(1) The following table summarizes the significant differences between the statutory tax rate and the Group’s
actual income tax rate for financial statement purposes for the years ended March 31, 2014 and 2013.
2014 2013
Statutory tax rate 38.0% —
Increase (reduction) in tax resulting from:
Difference in statutory tax rate (including overseas subsidiaries) (7.7) —
Valuation allowance (9.5) —
Retained earnings of overseas subsidiaries 9.4 —
Decreasing adjustment in deferred tax assets at the year-end due to statutory
tax rate 2.1 —
Other (2.1) —
Actual income tax rate 30.2% —
(Note): In the fiscal year ended March 31, 2013, the difference between the statutory tax rate and the actual income tax rate after application
of deferred tax accounting was negligible. Accordingly, disclosure has been omitted.
(2) Significant components of deferred tax assets and liabilities as of March 31, 2014 and 2013:
Millions of Yen
Thousands of
U.S. Dollars
2014 2013 2014
Deferred tax assets:
Net operating loss carryforwards ¥ 23,974 ¥ 26,609 $ 232,757
Retirement benefits and the related expenses 2,705 6,594 26,262
Inventories 1,955 1,866 18,981
Accrued expenses (bonuses to employees) 1,904 1,939 18,486
Property, plant and equipment 1,263 1,343 12,262
Other 6,245 5,554 60,631
Gross deferred tax assets 38,046 43,905 369,379
Valuation allowance (17,548) (19,740) (170,369)
Total deferred tax assets 20,498 24,165 199,010
Profile / Contents CASIO’s StrengthHistory To Our Stakeholders At a Glance Special Feature CSRCorporate Governance
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