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Toyota Global Vision President’s Message Launching a New Structure Special Feature Review of Operations
Consolidated Performance
Highlights
Management and
Corporate Information Investor InformationFinancial Section
Page 95
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ContentsSearchPrint
ANNUAL REPORT 2013
A summary of the gross unrecognized tax benefi ts changes for the years ended March 31, 2011, 2012 and
2013 is as follows:
Yen in millions U.S. dollars in millions
For the years ended March 31,
For the year ended
March 31,
2011 2012 2013 2013
Balance at beginning of year ¥23,965 ¥15,453 ¥16,901 $180
Additions based on tax positions related to
the current year 213 4,187 2,401 26
Additions for tax positions of prior years 12,564 10,801 4,339 46
Reductions for tax positions of prior years (16,133) (363) (1,619) (17)
Reductions for tax positions related to lapse
of statute of limitations — — ——
Reductions for settlements (2,794) (12,820) (2,776) (30)
Other (2,362) (357) 3,201 34
Balance at end of year ¥15,453 ¥16,901 ¥22,447 $239
The amount of unrecognized tax benefi ts that, if
recognized, would affect the effective tax rate was
not material at March 31, 2011, 2012 and 2013,
respectively. Toyota does not believe it is reasonably
possible that the total amounts of unrecognized tax
benefi ts will signifi cantly increase or decrease within
the next twelve months.
Interest and penalties related to income tax liabili-
ties are included in “Other income (loss), net”. The
amounts of interest and penalties accrued as of and
recognized for the years ended March 31, 2011,
2012 and 2013, respectively, were not material.
Toyota remains subject to income tax examina-
tion for the tax returns related to the years beginning
on and after April 1, 2006 and January 1, 2000,
with various tax jurisdictions in Japan and foreign
countries, respectively.
Changes in the number of shares of common stock issued have resulted from the following:
For the years ended March 31,
2011 2012 2013
Common stock issued:
Balance at beginning of year 3,447,997,492 3,447,997,492 3,447,997,492
Issuance during the year — — —
Purchase and retirement — — —
Balance at end of year 3,447,997,492 3,447,997,492 3,447,997,492
The Companies Act provides that an amount
equal to 10% of distributions from surplus paid by
the parent company and its Japanese subsidiaries
be appropriated as a capital reserve or a retained
earnings reserve. No further appropriations are
required when the total amount of the capital
reserve and the retained earnings reserve reaches
25% of stated capital.
The retained earnings reserve included in retained
earnings as of March 31, 2012 and 2013 was
¥173,711 million and ¥175,735 million ($1,869 mil-
lion), respectively. The Companies Act provides that
the retained earnings reserve of the parent company
and its Japanese subsidiaries is restricted and
unable to be used for dividend payments, and is
excluded from the calculation of the profi t available
for dividend.
The amounts of statutory retained earnings of the
parent company available for dividend payments to
shareholders were ¥5,348,279 million and
¥5,858,551 million ($62,292 million) as of March 31,
2012 and 2013, respectively. In accordance with
customary practice in Japan, the distributions from
surplus are not accrued in the fi nancial statements
for the corresponding period, but are recorded in
the subsequent accounting period after sharehold-
ers’ approval has been obtained. Retained earnings
at March 31, 2013 include amounts representing
year-end cash dividends of ¥190,046 million
($2,020 million), ¥60 ($0.64) per share, which were
approved at the Ordinary General Shareholders’
Meeting, held on June 14, 2013.
Retained earnings at March 31, 2013 include
¥1,576,055 million ($16,758 million) relating to equi-
ty in undistributed earnings of affi liated companies
accounted for by the equity method.
On January 1, 2012, the parent company imple-
mented share exchanges as a result of which the
parent company became a wholly-owning parent
company and each of Toyota Auto Body Co., Ltd.
and Kanto Auto Works, Ltd. became a wholly-
owned subsidiary, and the parent company
acquired additional shares of each subsidiary. As
a˛result of these share exchanges, the parent
17. Shareholders’ equity
Notes to Consolidated Financial Statements
Selected Financial Summary (U.S. GAAP) Consolidated Segment Information Consolidated Quarterly Financial Summary Management’s Discussion and Analysis of Financial Condition and Results of Operations Consolidated Financial Statements Notes to Consolidated Financial Statements [18 of 44]
Management’s Annual Report on Internal Control over Financial Reporting Report of Independent Registered Public Accounting Firm