Konica Minolta 1999 Annual Report Download - page 29

KONICA 25
should be appropriated to a legal reserve until this reserve equals 25
per cent of stated capital. The legal reserve is not available for cash
dividends but may be used to reduce a deficit by a shareholders’
resolution or may be capitalized by a Board of Directors’ resolution.
On June 29, 1999, the shareholders approved a cash dividend
to be paid to shareholders on record as of March 31, 1999 totaling
¥1,788 million (US$14,656 thousand), at the rate of ¥5.00 (US$0.04)
per share of common stock. The related appropriation of retained
earnings to the legal reserve was made in the amount of ¥179 million
(US$1,467 thousand).
9. Commitments and Contingent Liabilities
The Company and its consolidated subsidiaries estimate that capital
expenditures on fixed assets of approximately ¥30,837 million
(US$252,762 thousand) will be required during the fiscal year ending
March 31, 2000.
The Company and its subsidiaries were contingently liable, as of
March 31, 1999, for trade notes discounted with banks of ¥202 million
(US$1,656 thousand) and for loans guaranteed of ¥5,014 million
(US$41,098 thousand).
10. Lease Transactions
Information on the Company’s and consolidated subsidiaries’ finance
lease transactions (except for those which are deemed to transfer the
ownership of the leased assets to the lessee) and operating lease
transactions are presented below.
Lessee
1. Finance leases
Thousands of
Millions of yen U.S. dollars
1999 1998 1999
Machinery & equipment................... ¥ 6,016 ¥— $49,311
Tools & furniture............................... 5,747 —47,107
Others .............................................. 422 —3,459
......................................................... 12,185 —99,877
Less: Accumulated depreciation ..... (6,042) —(49,525)
Net book value................................. ¥ 6,143 ¥— $50,352
Depreciation..................................... ¥ 1,998 ¥— $16,377
Depreciation is based on the straight-line method over the lease
terms of the lease assets.
The scheduled maturities of future lease rental payments on such
lease contracts as of March 31, 1999 and 1998 were as follows:
Thousands of
Millions of yen U.S. dollars
1999 1998 1999
Due within one year........................ ¥1,844 ¥1,845 $15,115
Due over one year .......................... 4,299 2,945 35,238
........................................................ ¥6,143 ¥4,790 $50,353
Lease rental expenses
for the year.................................... ¥1,998 ¥2,002 $16,377
2. Operating leases
The scheduled maturities of future lease rental payments on such
lease contracts as of March 31, 1999 and 1998 were as follows:
Thousands of
Millions of yen U.S. dollars
1999 1998 1999
Due within one year.................... ¥ 6,565 ¥ 6,007 $ 53,811
Due over one year ...................... 22,400 24,203 183,607
.................................................... ¥28,965 ¥30,210 $237,418
Lease rental expenses
for the year ............................... ¥ 1,269 ¥ 1,227 $ 10,402
Lessor
Thousands of
Millions of yen U.S. dollars
1999 1998 1999
Leased tools & furniture:
Purchase cost ................................ ¥1,880 ¥— $15,410
Accumulated depreciation ............. (1,321) —(10,828)
Net book value................................... ¥ 559 ¥— $4,582
The scheduled maturities of future lease rental income on such
lease contracts as of March 31, 1999 and 1998 were as follows:
Thousands of
Millions of yen U.S. dollars
1999 1998 1999
Due within one year........................ ¥ 367 ¥ 327 $ 3,008
Due over one year .......................... 276 421 2,262
........................................................ ¥ 643 ¥ 748 $ 5,270
Lease rental income
for the year.................................... ¥1,269 ¥1,227 $10,402
Depreciation for the year ................ 1,104 —9,049
As a result of the amendment to the Consolidated Financial State-
ment Regulations, the disclosure of information regarding leased
assets and finance lease contracts as a lessee/lessor has become
mandatory effective from the year ended March 31, 1999.
11. Segment Information
Segment information is reported in accordance with the requirements
of the MOF. The photographic materials segment includes photo-
graphic film, photographic paper, photofinishing equipment and
chemicals, videotapes and others. The business machines segment
includes plain-paper copiers, printers, facsimile machines, cameras,
optical products and others.