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Financial Section
Management
Foundation Corporate Data
Annual Report 2015 CONTENTS / 4233
Prole To Our Stakeholders Casio's Strength Special Features Financial Highlights
Notes to Consolidated Financial Statements
The annual maturities of bonds and long-term loans payable at March 31, 2015:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 .............................................................................................................. ¥ — $ —
2017 .............................................................................................................. 23,000 191,667
2018 .............................................................................................................. 6,000 50,000
2019 .............................................................................................................. 38,000 316,667
2020 .............................................................................................................. 10,000 83,333
The annual maturities of lease obligations at March 31, 2015:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 .............................................................................................................. ¥838 $6,983
2017 .............................................................................................................. 648 5,400
2018 .............................................................................................................. 390 3,250
2019 .............................................................................................................. 158 1,317
2020 .............................................................................................................. 74 617
The lines of credit with the main financial institutions agreed as of March 31, 2015 and 2014:
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2015 2014 2015
Line of credit .............................................................................. ¥57,196 ¥57,300 $476,633
Unused ...................................................................................... 57,196 57,300 476,633
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, 2015 and 2014.
2015 2014
Statutory tax rate ................................................................................................ 35.6% 38.0%
Increase (reduction) in tax resulting from:
Difference in statutory tax rate (including overseas subsidiaries) ...................... (6.5) (7.7)
Valuation allowance ....................................................................................... (11.7) (9.5)
Retained earnings of overseas subsidiaries ..................................................... 3.4 9.4
Decrease of deferred tax assets at year end due to changes of Japan tax rate ... 4.6 2.1
Other ............................................................................................................ (2.6) (2.1)
Actual income tax rate 22.8% 30.2%
(2) Significant components of deferred tax assets and liabilities as of March 31, 2015 and 2014:
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2015 2014 2015
Deferred tax assets:
Net operating loss carryforwards ............................................ ¥ 17,233 ¥23,974 $143,608
Inventories ............................................................................ 1,913 1,955 15,942
Accrued expenses (bonuses to employees) ............................ 1,827 1,904 15,225
Property, plant and equipment ............................................... 1,624 1,263 13,533
Retirement benefits and the related expenses ......................... 713 2,705 5,942
Other .................................................................................... 5,722 6,245 47,683
Gross deferred tax assets ........................................................... 29,032 38,046 241,933
Valuation allowance .................................................................... (10,398) (17,548) (86,650)
Total deferred tax assets ........................................................ 18,634 20,498 155,283
Deferred tax liabilities:
Valuation difference on available-for-sale securities ................. (5,451) (3,587) (45,425)
Retained earnings of overseas subsidiaries ............................. (3,325) (2,157) (27,708)
Unrealized holding gain .......................................................... (1,366) (1,506) (11,383)
Reserve for advanced depreciation of non-current assets ............ (80) (92) (667)
Other ..................................................................................... (80) (66) (667)
Total deferred tax liabilities........................................................ (10,302) (7,408) (85,850)
Net deferred tax assets............................................................ ¥ 8,332 ¥13,090 $ 69,433