Ricoh 1998 Annual Report Download - page 43

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41
Shareholder’s investment as of March 31, 1998, decreased despite net in-
come earned during the year, attributable primarily to a Korean affiliate’s
translation adjustment due to a significant depreciation of the Korean
won against other currencies.
The significant transactions of Ricoh with these affiliates for the three
years ended March 31, 1998 and the related account balances at March
31, 1997 and 1998 are summarized as follows:
Income before income taxes, minority interests and equity in earnings of affiliates—
Domestic
Foreign
Thousands of
U.S. dollars
1998
Millions of yen
199819971996
$440,485
77,909
$518,394
¥58,144
10,284
¥68,428
¥68,108
(1,203)
¥66,095
¥45,627
5,393
¥51,020
Provision for income taxes—
Current:
Domestic
Foreign $261,614
57,386
319,000
¥34,533
7,575
42,108
¥28,140
3,332
31,472
Deferred:
Domestic
Foreign
Consolidated provision for income taxes
(2,584)
(637)
(3,221)
¥28,251
Provision for income taxes
Shareholders’ investment:
Net unrealized holding gains on
available-for-sale securities
Pension liability adjustment
Translation adjustments
1998
Millions of yen
199819971996
¥28,251
8,018
(6,411)
(1,821)
¥28,037
Thousands of
U.S. dollars
Total income taxes were allocated as follows:
As of March 31, 1998, consolidated retained earnings included
undistributed earnings of 20% to 50% owned companies accounted for
by the equity method in the amount of ¥38,015 million ($287,992
thousand).
Thousands of
U.S. dollars
1998
Transactions—
Sales
Purchases
Dividend income
1998
¥38,335
60,083
1,767
$290,417
455,174
13,386
1997
¥24,112
47,698
770
1996
¥44,388
43,107
700
Thousands of
U.S. dollars
1998
Account balances—
Receivables
Payables
Millions of yen
1998
¥17,571
19,574 $133,114
148,288
1997
¥ 8,013
18,003
Millions of yen
Income before income taxes, minority interests and equity in earnings of affiliates and provision for income taxes for the three years ended March 31, 1998
are as follows:
8. INCOME TAXES
(2,153)
255
(1,898)
¥40,210
¥41,831
4,841
46,672
(9,443)
2,635
(6,808)
¥39,864
(16,311)
1,932
(14,379)
$304,621
$304,621
(59,046)
(30,083)
(1,833)
$213,659
¥40,210
(7,794)
(3,971)
(242)
¥28,203
¥39,864
(10,935)
(2,583)
727
¥27,073
Reconciliations of the normal tax rates in Japan with the effective tax rates for the three years ended March 31, 1998 are as follows: