Konica Minolta 2000 Annual Report Download - page 29

KONICA 27
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, 2000, the shareholders approved a cash dividend
to be paid to shareholders on record as of March 31, 2000 totaling
¥1,788 million (US$16,844 thousand), at the rate of ¥5.00 (US$0.05)
per share of common stock. The related appropriation of retained
earnings to the legal reserve was made in the amount of ¥178 mil-
lion (US$1,677 thousand).
10. Commitments and Contingent Liabilities
The Company and its subsidiaries were contingently liable, as of
March 31, 2000, for trade notes discounted with banks of ¥89 mil-
lion (US$838 thousand) and for loans guaranteed of ¥4,923 million
(US$46,378 thousand).
11. 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
2000 1999 2000
Machinery & equipment............. ¥12,154 ¥ 6,016 $114,498
Tools & furniture......................... 4,171 5,747 39,293
Others......................................... 647 422 6,095
.................................................... 16,973 12,185 159,886
Less: Accumulated depreciation .... (5,907) (6,042) (55,648)
Net book value............................ ¥11,066 ¥ 6,143 $104,249
Depreciation ............................... ¥ 2,087 ¥ 1,998 $ 19,661
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, 2000 and 1999 are as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Due within one year...................... ¥ 2,869 ¥1,844 $ 27,028
Due over one year ........................ 8,196 4,299 77,211
...................................................... ¥11,066 ¥6,143 $104,239
Lease rental expenses
for the year ................................. ¥ 2,087 ¥1,998 $ 19,661
2. Operating leases
The scheduled maturities of future lease rental payments on such
lease contracts as of March 31, 2000 and 1999 are as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Due within one year ................... ¥ 5,235 ¥ 6,565 $ 49,317
Due over one year ...................... 17,025 22,400 160,386
.................................................... ¥22,260 ¥28,965 $209,703
Lessor
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Leased tools & furniture:
Purchase cost ............................. ¥1,919 ¥1,880 $18,078
Accumulated depreciation .......... (1,564) (1,321) (14,734)
Net book value................................ ¥ 355 ¥ 559 $ 3,334
The scheduled maturities of future lease rental income on such
lease contracts as of March 31, 2000 and 1999 are as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Due within one year........................ ¥ 300 ¥ 367 $ 2,826
Due over one year .......................... 107 276 1,008
........................................................ ¥ 408 ¥ 643 $ 3,834
Lease rental income
for the year ................................... ¥1,318 ¥1,269 $12,416
Depreciation for the year ................ 1,146 1,104 10,796
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, 2000.
12. 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.