Pentax 2002 Annual Report Download - page 47

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45
No»12 research and development expenses
Research and development expenses charged to income for the years ended March 31, 2002, 2001 and 2000 were ¥5,511
million ($41,436 thousand), ¥5,161 million and ¥5,146 million, respectively.
No»13 leases
Income from equipment leases for the years ended March 31, 2002, 2001 and 2000 was ¥4 million ($30 thousand), ¥38
million and ¥155 million, respectively.
The Group leases certain machinery, computer equipment, office space and other assets. Total rental expenses for the years
ended March 31, 2002, 2001 and 2000 were ¥8,739 million ($65,707 thousand), ¥8,352 million and ¥5,559 million, including
¥1,413 million ($10,624 thousand), ¥1,745 million and ¥2,047 million of lease payments under finance leases, respectively.
Pro forma information of leased property under finance leases that do not transfer ownership of the leased property to the
lessee on an “as if capitalized” basis for the years ended March 31, 2002, 2001 and 2000 were as follows:
Millions of Yen Thousands of U.S. Dollars
2002 2001 2002
As Lessee As Lessee As Lessor As Lessee
Machinery Furniture Machinery Furniture Furniture Machinery Furniture
and and and and and and and
For the Years Ended March 31, 2002 and 2000 Vehicles Equipment Vehicles Equipment Equipment Vehicles Equipment
Acquisition cost ¥2,966 ¥3,975 ¥4,483 ¥3,964 ¥37 $ 22,301 $ 29,887
Accumulated depreciation 1,470 2,282 2,450 2,373 33 11,053 17,158
Net leased property ¥1,496 ¥1,693 ¥2,033 ¥1,591 ¥ 4 $ 11,248 $ 12,729
Millions of Yen Thousands of U.S. Dollars
2002 2001 2002
Obligations Obligations Obligations
under Unearned under under
For the Years Ended March 31, 2002 and 2000 Finance Lease Lease Income Finance Lease Finance Lease
Due within one year ¥1,235 ¥ 4 ¥ 1,582 $ 9,285
Due after one year 1,954 2,042 14,692
Total ¥3,189 ¥ 4 ¥ 3,624 $ 23,977
The interest income portion as lessor is included in the above unearned lease income. The imputed interest expense portion as
lessee is included in the above obligations under finance leases.
Depreciation expense for lessee, which is not reflected in the accompanying consolidated statements of income, computed by
the straight-line method was ¥1,413 million ($10,624 thousand), ¥1,745 million and ¥2,047 million for the years ended March
A reconciliation between the normal effective statutory tax rates and the actual effective tax rates reflected in the accompany-
ing consolidated statements of income for the years ended March 31, 2002, 2001 and 2000 is as follows:
2002 2001 2000
Normal effective statutory tax rate 41.7% 41.7% 41.7%
Lower income tax rates applicable to income in certain foreign countries (5.2) (12.1) (3.0)
Expenses not permanently deductible for income tax purposes 0.5 0.8 0.6
Per capita portion 0.3 0.4 0.3
Non-taxable dividend income (3.9) (3.8) (4.6)
Intercompany cash dividend 3.8 3.8 4.4
Other—net (0.6) (0.5) (1.6)
Actual effective tax rate 036.6% 30.3% 37.8%