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73
HOYA Annual Report 2009
Depreciation expense and other information under finance leases:
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2007 2009
Depreciation expense ¥600 ¥2,347 ¥718 $6,109
Lease payments 606 2,355 727 6,165
Reversal of allowance for impairment loss on leased property 68 9 56
Impairment loss —4 6 —
The imputed expense portion as lessee is included in the above obligation under finance leases.
Obligation under operating leases
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Due within one year ¥ 860 ¥ 85 $ 8,758
Due after one year 1,747 84 17,783
Total ¥2,607 ¥169 $26,541
No. 11
RESEARCH AND DEVELOPMENT EXPENSES
Research and development expenses charged to income for the years ended March 31, 2009, 2008 and 2007 were ¥17,630 million
($179,478 thousand), ¥17,413 million, ¥14,920 million, respectively.
No. 12
COMMITMENTS AND CONTINGENT LIABILITIES
At March 31, 2009 and 2008 the Group had the following contingent liabilities.
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Guarantees of borrowings and lease obligations for customers ¥1,720 ¥2,070 $17,516
Guarantees of borrowings for the Group’s employees 2 2 19
Trade notes discounted 181 1,551 1,842
Total ¥1,903 ¥3,623 $19,377
HOYA LENS DEUTSCHLAND GMBH (Germany), which is a subsidiary of the Company, received a statement of objections (the
“statement”) from the Federal Cartel office of the Federal Republic of Germany in December 2008. The Company and HOYA LENS
DEUTSCHLAND GMBH are currently investigating the facts of this matter, and will deal with it appropriately.
There is a possibility that losses will be incurred in the future related to the statement. However, it is difficult to reasonably esti-
mate the impact when this report was prepared, so the effect on the consolidated financial statements is not clear.