Konica Minolta 2001 Annual Report Download - page 30

Konica Corporation/ Annual Report 200 1
28
The annual maturity of long-term debt as of March 3 1 , 2 0 0 1 is as
follows:
Thousands of
Years ending Marc h 3 1 Millions of yen U.S. dollars
2 0 0 2 ...... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .......... ¥ 15 ,0 00 $ 1 2 1,0 6 5
2 0 0 3 ...... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 1 5 ,0 0 0 1 2 1 ,0 6 5
2 0 0 4 ...... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 5 ,0 0 0 4 0 ,3 5 5
2 0 0 5 ...... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 5 ,0 0 0 4 0 ,3 5 5
2 0 0 6 ...... .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 1 0 ,0 0 0 8 0 ,7 1 0
Assets pledged as collateral for short-term debt, long-term debt and
guarantees as of Marc h 3 1 , 2 0 0 1 and 2 0 0 0 are as follows:
Thousands of
Millions of yen U.S. dollars
2001 2 0 0 0 2001
Property, plant and equipment ..................... ¥ 4 ,6 5 9 ¥ 5,121 $37,603
8 . Income Taxes
The statutory tax rates used for calculating deferred tax assets and
deferred tax liabilities as of March 31, 2001 and 2 0 0 0 were 4 2 .1%.
At March 31, 2001 and 200 0 , the rec onciliation of the statutory tax
rate to the effective income tax rate is as follows:
2001 2 0 0 0
Statutory tax rate ...................................................... 42.1% 4 2 .1 %
Acc umulated defic it ......................................... —9 .9
Other, net ......................................................... ( 0 .6 ) ( 2 . 2 )
Effective tax rate ....................................................... 41.5% 4 9 .8%
At March 31, 2001 and 200 0 , significant c omponents of deferred tax
assets and liabilities are as follows:
Thousands of
Millions of yen U.S. dollars
2 0 0 1 2 0 0 0 2 0 0 1
Gross deferred tax assets:
Tax effect on loss of a consolidated
subsidiary previously not recognized ..... ¥ 1 ,298 ¥ 2,528 $ 10,476
Tax loss carryforward ........................... 7,511 1 0 ,8 9 4 60,621
Reserve for employees’ retirement allowanc e ... 1 3 ,8 9 9 3,977 112,179
Inventories, etc ..................................... 4,936 5,015 39,839
Other, net ............................................. 1 4 ,3 4 6 9,465 115,787
Subtotal ................................................ 4 1 ,9 9 2 3 1 ,8 7 9 338,918
Valuation allowance .................................. (7,034) ( 4 ,9 8 0 ) (56,772)
Deferred tax assets total ........................ 3 4 ,9 5 7 2 6 ,8 9 9 282,139
Total gross deferred tax liabilities .......... (8,783) ( 1 , 6 1 9 ) (70,888)
Net deferred tax assets .............................. ¥ 2 6 ,1 7 4 ¥ 2 5 ,2 7 9 $211,251
9 . Research and Development Expenses
Total amounts charged to inc ome for the fisc al years ended March 3 1 ,
2 0 0 1 and 2 0 0 0 are ¥ 2 6 ,672 million ( US$ 2 1 5 ,2 7 0 thousand) and
¥ 2 5 ,7 3 0 million, respectively.
1 0 . Shar eholder s’ Equity
The Japanese Commercial Code provides that an amount equivalent to at
least 1 0 per cent of cash distributions ( cash dividends and bonuses to
directors and corporate auditors) paid in a fiscal period should be
appropriated to a legal reserve until this reserve equals 2 5 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 2 8 , 2 0 0 1 , the shareholders approved a cash dividend to be
paid to shareholders on record as of Marc h 3 1 , 2 0 0 1 totaling ¥ 1 ,7 8 8
million ( US$ 1 4 ,431 thousand) , at the rate of ¥ 5 .0 0 ( US$ 0 .0 4 ) per share
of common stock. The related appropriation of retained earnings to the
legal reserve was made in the amount of ¥ 1 8 3 million ( US$1,4 7 7
thousand) .
1 1 . Commitments and Contingent Liabilities
The Company and its subsidiaries were contingently liable, as of March
3 1 , 2 0 0 1 , for trade notes discounted with banks of ¥ 6 3 million ( US$508
thousand) and for loans guaranteed of ¥ 3 ,3 7 6 million ( US$27,2 4 8
thousand) .
1 2 . Lease Transactions
Information on the Company’s and consolidated subsidiaries’ finance
lease transactions ( exc ept for those which are deemed to transfer the
ownership of the leased assets to the lessee) and operating lease
transactions are as follows:
Lessee
1 . Finance Leases
Thousands of
Millions of yen U.S. dollars
2001 2 0 0 0 2001
Machinery & equipment ................ ¥11,505 ¥12,154 $19 2 ,8 5 7
Tools & furniture ........................... 6 ,0 0 1 4 ,1 71 4 8 ,4 3 4
Others ........................................... 683 6 47 5 ,5 1 3
1 8 ,1 9 1 16,9 7 3 146,820
Less: Ac cumulated deprec iation .... ( 7 4 7 1 ) ( 5 ,90 7 ) (60,299)
Net book value .............................. ¥10,720 ¥11,066 $18 6 ,5 2 1
Deprec iation ................................. ¥13 ,2 7 4 ¥12 , 0 8 7 $12 6 ,4 2 5
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 c ontracts as of March 3 1 , 2 001 and 200 0 are as follows:
Thousands of
Millions of yen U.S. dollars
2001 2 0 0 0 2001
Due within one year ...................... ¥13 ,1 2 2 ¥12 ,8 6 9 $25,198
Due over one year ......................... 7 ,5 9 8 8 ,1 9 6 6 1 ,3 2 4
¥10,720 ¥ 1 1 ,0 6 6 $86,521
Lease rental expenses
for the year .................................... ¥13 ,2 7 4 ¥12 ,0 8 7 $26,425