Pentax 2006 Annual Report Download - page 63

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Obligations under finance leases:
Millions of Yen Thousands of U.S. Dollars
2006 2005 2006
Due within one year ¥833 ¥786 $7,091
Due after one year 1,200 1,358 10,216
Total ¥2,033 ¥2,144 $17,307
Allowance for impairment loss on leased property of ¥170 million as of March 31, 2005 is not included in obligations under finance leases.
Depreciation expense and other information under finance leases:
Millions of Yen Thousands of U.S. Dollars
2006 2005 2004 2006
Depreciation expense ¥726 ¥959 ¥1,297 $6,180
Lease payments 896 959 1,297 7,627
Reversal of allowance for impairment loss on leased property 170 105 — 1,447
Impairment loss ——276 —
The imputed interest expense portion as lessee is included in the above obligations under finance leases.
No. 13 CONTINGENT LIABILITIES
At March 31, 2006, the Group had the following contingent liabilities:
Millions of Yen Thousands of U.S. Dollars
2006 2005 2006
Guarantees of borrowings and lease obligations for customers ¥2,206 ¥1,364 $18,779
Guarantees of borrowings for the Group’s employees 4534
Total ¥2,210 ¥1,369 $18,813
On June 17, 2005, June 18, 2004, June 20, 2003 and June 21,
2002, the Company’s shareholders approved a stock option plan
for the Group’s directors and key employees. Under the plan,
4,401 thousand options were granted to them to purchase shares
of the Company’s common stock during the exercise period from
October 1, 2006 to September 30, 2015, October 1, 2005 to
September 30, 2009, October 1, 2004 to September 30, 2008 or
from October 1, 2003 to September 30, 2007. The options were
granted at an exercise price of ¥4,150, ¥2,713, ¥2,438, ¥1,673
or ¥1,918.
At the Company’s shareholders’ meeting held on June 16, 2006,
the following stock option plan for the Group’s directors and key
employees was approved. The plan provides for granting options
to the Group’s directors and key employees to purchase up to
1,200 thousand shares of the Company’s common stock in
the period from October 1, 2007 to September 30, 2016. The
options are granted at an exercise price at the fair value at the
previous date of the option grant. The Company plans to issue
acquired treasury stock upon exercise of the stock options.
No. 14 STOCK-BASED COMPENSATION PLANS (UNAUDITED)