Suzuki 2008 Annual Report Download - page 44

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SUZUKI MOTOR CORPORATION 43
NOTE 14: Contingent liabilities
As of March 31, 2008, the Company and certain consolidated subsidiaries had the following contingent liabilities:
Millions of Thousands of
yen U.S. dollars
Guarantee of indebtedness of affiliates and others...........................
¥8,470 $84,541
Trade notes discounted ................................................................ 815 8,139
¥9,285 $92,681
Operating lease transactions as of March 31, 2008 and 2007 were as follows:
As a lessee Thousands of
Millions of yen U.S. dollars
2008 2007 2008
Future lease payments
Due within one year ......................................... ¥ 404 ¥159 $ 4,032
Thereafter ......................................................... 1,391 512 13,891
¥1,795 ¥671 $17,923
Thousands of
Millions of yen U.S. dollars
2008 2007 2008
Future lease revenues
Due within one year ......................................... ¥ 920 ¥849 $ 9,189
Thereafter ......................................................... 493 477 4,925
¥1,414 ¥1,326 $14,115
As a lessor
NOTE 13: Net assets
The Companies Act requires that at least 50% of the issue price of new shares be included in a company’s stated
capital. The portion to be recorded as stated capital is determined by resolution of the board of directors. Proceeds in
excess of the stated capital should be credited to “capital surplus”.
The Companies Act provides that an amount equivalent to 10% of cash dividends should be appropriated as a legal
reserve until the reserve reaches a certain limit, defined as 25% of the stated capital less certain capital reserves.
The Companies Act allows both the capital reserve and the other capital surplus to be transferred to the stated capital
following the approval at a shareholders’ meeting.
The legal reserves of the Company and its subsidiaries are included in “retained earnings” on the consolidated
balance sheet and are not shown separately.
According to the Companies Act, the Articles of the Company allows to repurchase treasury stock and dispose of
such treasury stock by resolution of the board of directors.
Consolidated Financial Statements of 2008