Pentax 2008 Annual Report Download - page 69

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40.4%
(18.2)
0.4
0.1
(1.8)
1.8
(0.5)
—
(0.5)
—
—
—
—
0.6
22.3
40.4%
(17.1)
0.4
0.1
(1.5)
1.5
(0.2)
—
(0.7)
—
—
—
—
(0.9)
22.0
2008 20062007
Normal effective statutory tax rate
Lower or exemption income tax rates applicable to income in certain foreign countries
Expenses not permanently deductible for income tax purposes
Per capita portion
Non-taxable dividend income
Intercompany cash dividend and transactions
Equity in earnings of associated companies and retained earnings
Change in valuation allowance
Tax credit on reserch and development expenses
Foreign tax credit
Amortization of goodwill
The amount influence of merging
Consolidated adjustment on unrealized gain in inventories
Other—net
Accutual effective tax rate
40.4%
(20.1)
0.6
0.1
(1.6)
2.9
0.2
0.6
(0.8)
(1.4)
1.2
(9.0)
1.2
1.0
15.3
$1,811,229
(1,308)
$1,809,921
2008 2007 2008
Cash, time deposits and other cash equivalents
Time deposits with deposit terms of more than three months
Cash and cash equivalents at end of the year
¥181,467
(131)
¥181,336
¥120,622
(—)
¥120,622
Thousands of U.S. DollarsMillions of Yen
$1,738,587
271,744
(980,118)
(84,220)
945,993
226,051
$ 719,942
2008 2008
Assets
Goodwill
Liabilities
Minority interests
Cash paid for the capital
Cash and cash equivalents of consolidated subsidiaries
Cash paid in conjunction with the purchases of consolidated subsidiaries
¥174,189
27,226
(98,198)
(8,438)
94,779
22,648
¥ 72,131
Thousands of U.S. DollarsMillions of Yen
A reconcilation between the normal effective statutory tax rates and actual effective tax rates reflected in the accompanying consolidated
statements of income for the years ended March 31, 2008, 2007 and 2006 was as follows:
No. 10 RESEARCH AND DEVELOPMENT EXPENSES
Research and development expenses charged to income for the years ended March 31, 2008, 2007 and 2006 were ¥17,413 million ($173,795
thousand), ¥14,920 million, ¥14,135 million, respectively.
1. Reconciliation of cash and cash equivalents
A reconciliation of cash and cash equivalents between the consolidated balance sheets and the conslodated statement of cash flows at
March 31, 2008 and 2007 is as follows:
No. 11 SUPPLEMENTARY CASH FLOW INFORMATION
2. Purchases of newly consolidated subsidiaries
The Company started to consolidate Pentax and its subsidiaries at September 30, 2007. The following shows the reconciliation from the payment for
purchasing Pentax shares, which equals to the total of the assets and liabilities of the Pentax and its subsidiaries, to the payment for acquisition of
subsidiaries' shares which effects the scope of consolidation.
HOYA ANNUAL REPORT 2008 67