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46
NIKON CORPORATION ANNUAL REPORT 2012
10. Selling, General and Administrative Expenses
Selling, general and administrative expenses for the fiscal years ended March 31, 2011 and 2012 principally consisted of
the following:
Millions of Yen
Thousands of
U.S. Dollars
2011 2012 2012
Advertising expenses ¥65,824 ¥74,389 $905,083
Provision for doubtful receivables 65 35 421
Provision of warranty costs 4,833 2,967 36,094
Employees’ salaries 30,598 30,479 370,832
Net periodic retirement benefit cost 3,446 3,520 42,825
Employees’ bonuses and others 15,923 16,583 201,769
Research and development costs 60,767 68,701 835,886
11. Income Taxes
The Company and its domestic subsidiaries are subject to Japanese national and local income taxes, which, in the aggregate,
resulted in a normal effective statutory tax rate of approximately 40.6% for the fiscal years ended March 31, 2011 and 2012.
The tax effects of significant temporary differences and loss carryforwards, which result in deferred tax assets and liabilities
at March 31, 2011 and 2012, were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2011 2012 2012
Deferred tax assets:
Write-down of inventories ¥28,866 ¥33,873 $412,126
Warranty reserve 2,395 2,051 24,958
Liability for employees’ retirement benefits 7,630 3,860 46,969
Depreciation and amortization 15,389 15,487 188,423
Accrued bonuses 4,840 4,117 50,095
Other 13,132 11,701 142,367
Total ¥72,252 ¥71,089 $864,938
Deferred tax liabilities:
Deferred gains on sales of property replaced ¥ 3,509 ¥ 2,878 $ 35,014
Unrealized gain on available-for-sale securities 6,563 6,604 80,351
Other 2,163 1,424 17,325
Total ¥12,235 ¥10,906 $132,690
Net deferred tax assets ¥60,017 ¥60,183 $732,248
A valuation allowance of ¥4,237 million in 2011 and ¥3,797 million ($46,195 thousand) in 2012 was deducted from the amounts
calculated above.