Konica Minolta 2007 Annual Report Download - page 54

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During the year ended March 31, 2007 the reserve for dis-
continued operations declined by ¥29,980 million ($253,960
thousand) to ¥28,097 million ($238,009 thousand).
On the statement of income for the year ended March 31,
2007 the Companies posted ¥935 million ($7,920 thousand) of
loss on discontinued operations. It is the net amount of ¥17,567
million ($148,810 thousand) of income from the reversal of reserve
and ¥18,502 million ($156,730 thousand) of loss on discontinued
operations due to the changes various conditions and environment.
13. Lease Transactions
Proforma information on the Company and its domestic sub-
sidiaries finance lease transactions (except for those which are
deemed to transfer the ownership of the leased assets to the
lessee) and operating lease transactions is as follows:
Lessee
1) Finance Leases Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Buildings and structures ¥ 8,841 ¥ 10,598 $ 74,892
Machinery, equipment
and other 2,435 15,110 20,627
Tools and furniture 11,348 13,230 96,129
Rental business-use assets 4,173 6,590 35,349
Intangible fixed assets 358 694 3,033
27,158 46,224 230,055
Less: Accumulated
depreciation (16,037) (28,572) (135,849)
Loss on impairment of
lease assets 15 3,972 127
Net book value ¥ 11,106 ¥ 13,679 $ 94,079
The scheduled maturities of future lease rental payments on
such lease contracts at March 31, 2007 and 2006 are as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Due within one year ¥ 2,913 ¥ 5,949 $24,676
Due over one year 8,236 11,701 69,767
Total ¥11,150 ¥17,651 $94,452
Lease rental expenses and depreciation equivalents under the
finance leases which are accounted for in the same manner as
operating leases for the years ended March 31, 2007 and 2006
were as follows:
Lease rental expenses
for the period ¥ 4,168 ¥10,045 $35,307
Depreciation equivalents ¥ 1,081 ¥ 9,175 $ 9,157
Depreciation equivalents are calculated based on the straight-
line method over the lease terms of the leased assets.
Reserve for loss on impairment of leased assets as of March
31, 2007 and 2006 are as follows: Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Reserve for loss ¥ 15 ¥ 3,102 $ 127
Reversals of reserve for loss on impairment of leased assets for the
years ended March 31, 2007 and 2006 are as follows: Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Reversals of reserve for loss ¥ 3,087 ¥ 869 $26,150
2) Operating Leases
The scheduled maturities of future operating lease rental pay-
ments as of March 31, 2007 and 2006 are as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Due within one year ¥ 5,052 ¥ 5,350 $ 42,795
Due over one year 14,676 11,670 124,320
Total ¥19,728 ¥17,021 $167,116
Lessor
1) Finance Leases Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Leased rental
business-use assets:
Purchase cost ¥ 28,524 ¥ 22,569 $ 241,626
Less: Accumulated
depreciation (17,940) (14,830) (151,970)
Net book value ¥ 10,584 ¥ 7,738 $ 89,657
The scheduled maturities of future finance lease rental income
as of March 31, 2007 and 2006 are as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Due within one year ¥5,089 ¥3,780 $43,109
Due over one year 3,953 4,236 33,486
Total ¥9,043 ¥8,017 $76,603
Lease rental income and depreciation under the finance leases
which are accounted for in the same manner as operating leases
for the years ended March 31, 2007 and 2006 were as follows:
Lease rental income
for the period ¥5,638 ¥4,496 $47,759
Depreciation ¥5,312 ¥4,174 $44,998
2) Operating Leases
The scheduled maturities of future lease rental income on such
lease contracts as of March 31, 2007 and 2006 are as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2007 2006 2007
Due within one year ¥1,694 ¥3,045 $14,350
Due over one year 1,677 2,690 14,206
Total ¥3,372 ¥5,735 $28,564
14. Retirement Benefit Plans
The Companies have defined benefit retirement plans that include
corporate defined benefit pensions plans (CDBPs), which are gov-
erned by the Japanese Welfare Pension Insurance Law, tax-quali-
fied pension plans and lump-sum payment plans. In addition, the
Company may pay additional retirement benefits to employees at
its discretion.
The Company and certain of its domestic subsidiaries changed
their retirement plans, as follows:
On April 1, 2003, Konica’s tax-qualified benefit plan was
transferred to a CDBP.