Nikon 2007 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2007 Nikon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 54

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54

41NIKON ANNUAL REPORT 2007
12. RESEARCH AND DEVELOPMENT COSTS
Research and development costs incurred were ¥47,218 million ($399,981 thousand) and ¥37,139 million for the fiscal years ended March 31,
2007 and 2006, respectively.
13. LOSS ON RESTRUCTURING OF BUSINESS
CMP division decided to restructure the business because it did not expect improvement in earnings due to the deterioration of the business
environment. So the Company recorded a loss on restructuring of a business of ¥1,847 million ($15,643 thousand) for the fiscal year ended
March 31, 2007.
Loss on restructuring of business consisted of loss on disposals of inventories, write-down of inventories and loss on impairment of fixed
assets. The amount of the loss on impairment of fixed assets was ¥589 million ($4,988 thousand).
Pro forma information of leased property carried by finance leases that do not transfer ownership of the leased property to the lessee on
an “as if capitalized” basis as of and for the fiscal years ended March 31, 2007 and 2006 was as follows:
Acquisition cost
Accumulated depreciation
Net leased property
Total
$ 109,010
58,270
$ 50,740
Furniture
and
Fixtures
$ 52,984
24,599
$ 28,385
Machinery
and
Equipment
$ 56,026
33,671
$ 22,355
Thousands of U.S. Dollars
2007
Total
¥ 12,869
6,879
¥ 5,990
Furniture
and
Fixtures
¥ 6,255
2,904
¥ 3,351
Machinery
and
Equipment
¥ 6,614
3,975
¥ 2,639
Millions of Yen
2007
The minimum rental commitments under noncancelable operating leases at March 31, 2007 and 2006 were as follows:
Due within one year
Due after one year
Total
Thousands of
U.S. Dollars
2007
$ 32,756
40,188
$ 72,944
2006
¥ 2,425
5,090
¥ 7,515
2007
¥ 3,867
4,744
¥ 8,611
Millions of Yen
14. LEASE PAYMENTS
Total lease payments under financing lease arrangements that do not transfer ownership of the leased property to the Company and its domestic
subsidiaries were ¥2,480 million ($21,006 thousand) and ¥2,461 million for the fiscal years ended March 31, 2007 and 2006, respectively.
Acquisition cost
Accumulated depreciation
Net leased property
Total
¥ 11,668
5,936
¥ 5,732
Furniture
and
Fixtures
¥ 5,495
2,520
¥ 2,975
Machinery
and
Equipment
¥ 6,173
3,416
¥ 2,757
Millions of Yen
2006
Obligations under finance leases at March 31, 2007 and 2006 were as follows:
The amount of obligations under finance leases includes the imputed interest expense portion.
Depreciation expense, which is not reflected in the accompanying consolidated statements of income, computed by the straight-line
method, was ¥2,480 million ($21,006 thousand) and ¥2,461 million for the fiscal years ended March 31, 2007 and 2006, respectively.
Due within one year
Due after one year
Total
Thousands of
U.S. Dollars
2007
$ 20,305
30,435
$ 50,740
2006
¥ 2,154
3,578
¥ 5,732
2007
¥ 2,397
3,593
¥ 5,990
Millions of Yen