Isuzu 2013 Annual Report Download - page 31

Annual Report 2013 29
8. Land Revaluation
In accordance with the Law concerning Revaluation of Land enacted
on March 31, 1999, the land used for business owned by the Company
and its domestic consolidated subsidiaries and domestic affiliates was
revalued, and the unrealized gain on the revaluation of land, net of
deferred tax, was reported as “Revaluation Reserve for Land” within
net assets, and the relevant deferred tax was reported as “Deferred
Tax Liabilities related to Land Revaluation” in liabilities for the fiscal
year ended March 31, 2013.
Revaluation Date: March 31, 2000
In accordance with the Law concerning Revaluation of Land enacted
on March 31, 1998, the land used for business owned by certain non-
consolidated subsidiaries and affiliates accounted for by the equity
method were revalued.
Revalued Date: March 31, 2001
The method of revaluation is as follows:
Under article 2-4 of the Enforcement Ordinance on Law concerning
Revaluation of Land, the land price for the revaluation was determined
based on the official notice prices assessed and published by the
Commissioner of National Tax Agency of Japan as basis for calculation
of Landholding Tax as stipulated in article 16 of the Landholding Tax
Law. Appropriate adjustments for the shape of land and the timing of
the assessment have been made. The land price for the revaluation for
some of the land is based on appraisal value.
The difference between the total fair value of business land, based
on the article 10 of the Enforcement Ordinance on Law concerning
Revaluation of Land, as of the end of the current fiscal year and
the total book value after revaluation revalued was ¥64,790 million
($688,890 thousands).
10. Lease Transactions
(1) Finance lease transactions, except for those which substantially
transfer the ownership to the lessee, are as follows.
a) Lessee
i) Amounts equivalent to acquisition costs, accumulated depreciation
and net book value of the finance lease assets as of March 31, 2013
and 2012 :
Amounts equivalent to interest expenses are calculated by the interest
method based on an excess of the sum of lease payments over
amounts equivalent to acquisition costs.
(2) Operating lease
a) Lessee
Future minimum lease payments of operating lease as of March 31,
2013 and 2012 are as follows:
9. Contingent Liabilities
Contingent liabilities at March 31, 2013 and 2012 are as follows:
7. Shareholders’ Equity
Changes in the numbers of shares issued and outstanding for the years
ended March 31, 2013 and 2012 are as follows:
Thousands of
Millions of yen U.S. dollars
2013 2012 2013
Guarantees of bank loans
¥ 1,128 ¥ 1,078 $ 12,003
Thousands of
Millions of yen U.S. dollars
2013 2012 2013
Acquisition costs
Accumulated depreciation
Net balance
¥ 1,129
976
152
¥ 2,463
2,007
455
$ 12,004
10,384
1,620
ii) Future minimum lease payments of finance lease as of March 31,
2013 and 2012 are as follows:
Thousands of
Millions of yen U.S. dollars
2013 2012 2013
Due within 1 year
Thereafter
Total
Thousands of
Millions of yen U.S. dollars
2013 2012 2013
Due within 1 year
Thereafter
¥ 105
56
161
¥ 304
254
559
$ 1,123
597
1,720
Common stock outstanding
2013 2012
Balance at beginning of the year 1,696,845,339 1,696,845,339
Increase due to convertible stocks converted — —
Balance at end of the year 1,696,845,339 1,696,845,339
Treasury stock outstanding
2013 2012
Balance at beginning of the year 2,512,857 2,454,660
Increase due to purchase of odd stocks 71,289 58,197
Balance at end of the year 2,584,146 2,512,857
¥ 1,277
5,472
¥ 676
1,501
$ 13,579
58,191