Mitsubishi 2011 Annual Report Download - page 63

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23. Related Party Transactions
MMC entered into the following transactions with related parties
during the years ended March 31, 2011 and 2010:
Related Party Transactions
Transactions between MMC and the Related Parties
(a) Transaction with the parent or major shareholder (major corpo-
rate shareholder) of the reporting company (MMC)
March 31, 2011
Party type: Major shareholder
Party name: Mitsubishi Corporation
Address: Chiyoda-Ku, Tokyo, Japan
Capital: ¥203,598 million
Business: Wholesale trading
% of voting stock held: Direct 13.99 Indirect 0.00
Relationship with the Related
Party:
Sales of products; import of
materials for production;
mutual directorships
Detail of transaction: Sales
Transaction amount: ¥303,051 million
($3,644,632 thousand)
Account title: Accounts receivable
Balance at year end: ¥12,095 million
($145,468 thousand))
(Note)
1. Consumption tax is excluded from transaction amount and included in the
balance at year end.
2. Contract terms and the policy to determine the contract terms: Sales price
of products is determined based on market price and overall cost.
Related Party Transactions
Transactions between MMC and the Related Parties
(a) Transaction with the parent or major shareholder (major corpo-
rate shareholder) of the reporting company (MMC)
March 31, 2010
Party type: Major shareholder
Party name: Mitsubishi Corporation
Address: Chiyoda-Ku, Tokyo, Japan
Capital: ¥203,228 million
Business: Wholesale trading
% of voting stock held: Direct 13.99 Indirect 0.00
Relationship with the Related
Party:
Sales of products; import of
materials for production;
mutual directorships
Detail of transaction: Sales
Transaction amount: ¥233,848 million
Account title: Accounts receivable
Balance at year end: ¥15,910 million
(b) Transaction with the unconsolidated subsidiaries and affiliates of
the reporting company (MMC)
March 31, 2010
Party type: Affiliate
Party name: JATCO Ltd.
Address: Fuji, Shizuoka, Japan
Capital: ¥29,935 million
Business: Development, manufacture and
sale of transmissions and
automobile components
% of voting stock held: Direct 15.04
Relationship with the Related
Party:
Purchase of automobile components;
mutual directorships
Detail of transaction: Purchases
Transaction amount: ¥63,908 million
Account title: Accounts payable
Balance at year end: ¥15,002 million
(Note)
1. Consumption tax is excluded from transaction amount and included in the
balance at year end.
2. Contract terms and the policy to determine the contract terms: Sales
price of products is determined based on market price and overall cost.
Purchase price of automobile components is determined based on
estimated cost, current component price, and market prices of each
component.
Significant affiliates
Summary of financial information of the significant affiliates
JATCO Ltd. is considered as the significant affiliate for the year
ended March 31, 2010, and a summary of its financial information
for the same fiscal year is shown as below:
Total current assets ¥133,950 million
Total non-current assets ¥232,645 million
Total current liabilities ¥173,943 million
Total non-current liabilities ¥ 70,708 million
Total net assets ¥121,944 million
Sales ¥432,596 million
Income before taxes ¥ 19,313 million
Net income ¥ 12,840 million
MITSUBISHI MOTORS CORPORATION
Annual Report 2011 61