Wacom 2009 Annual Report Download - page 34

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(2) Minimum lease payments under non-cancelable
operating leases are as follows:
There is no impairment losses allocated to leased assets.
¥4,261
4,576
¥8,837
¥2,440
2,136
¥4,576
$25
22
$47
Due within one year
Due after more than one year
Thousands of
U.S. dollars
Thousands of yen
2008 2009 2009
¥17,683
12,232
533
¥4,261
2,463
300
$43
25
3
Lease payments
Amount representing depreciation
Amount representing interest
2008 2009 2009
¥56,762
39,474
¥96,236
¥109,381
115,089
¥224,470
$1,113
1,172
$2,285
Due within one year
Due after one year
Total minimum lease payments
Thousands of
U.S. dollars
Thousands of yen
2008 2009 2009
The reconciliation between the statutory tax rate and
the effective income tax rate in the consolidated
statement of income for the year ended March 31,
2008 is as follows:
Statutory effective tax rate
Non deductible expenses for tax purposes
Equalization tax
Tax credit of corporation tax
Others
Effective income tax rate
39.7%
0.7
0.2
(1.9)
(1.6)
37.1%
March 31,
2008
The difference between the statutory income tax rate
and the effective income tax rate for the year ended
March 31, 2009 was less than 5% of the statutory
income tax rate, and accordingly, the reconciliation
between these two rates has been omitted.
16. Leases:
Finance lease transactions that do not transfer
Machinery, equipment and vehicles
Tools, furniture and fixtures
¥2,705
20,024
¥22,729
¥1,284
17,096
¥18,380
¥1,421
2,928
¥4,349
Thousands of yen
Net balance as of
March 31, 2008
Acquisition
cost
Accumulated
depreciation
$28
167
$195
$20
156
$176
$8
11
$19
Machinery, equipment and vehicles
Tools, furniture and fixtures
Thousands of U.S. dollars
Net balance as of
March 31, 2009
Acquisition
cost
Accumulated
depreciation
Thousands of yen
Net balance as of
March 31, 2009
Acquisition
cost
Accumulated
depreciation
Machinery, equipment and vehicles
Tools, furniture and fixtures
¥2,705
16,419
¥19,124
¥1,919
15,319
¥17,238
¥786
1,100
¥1,886
14. Cash and cash equivalents:
Cash and cash equivalents as of March 31, 2009, is
consisted of as follows:
Cash and deposits
Short-term investment securities
Less: Held-to-maturity
debt securities due within one year
Less: Time deposits with
maturities exceeding three months
Cash and cash equivalents
Thousands of
U.S. dollars
Thousands of yen
2009
$101,742
15,474
(5,090)
-
$112,126
¥9,994,114
1,520,000
(500,000)
-
¥11,014,114
¥8,078,235
5,500,000
-
(1,041)
¥13,577,194
15. Income taxes:
The significant components of deferred tax assets and
liabilities for the years ended March 31, 2008 and 2009
are as follows:
Deferred tax assets:
Inventory-inter-company profit
Accrued retirement benefits
Accrued severance
indemnities for directors
and statutory corporate auditors
Accrued bonuses
Accrued expenses
Software development costs
Enterprise tax
Inventories
Net loss carried forward for tax
purposes
Account receivables
Lump-sum depreciation assets
Trademark rights
Others
Total deferred tax assets
Deferred tax liabilities:
Undistributed earnings of
overseas subsidiaries
Fixed assets of overseas subsidiaries
Others
Total deferred tax liabilities
Net deferred tax assets
Thousands of yen Thousands of
U.S. dollars
20092008 2009
$4,525
1,653
1,389
1,161
739
398
395
292
281
211
174
77
330
11,625
(4,503)
(318)
(452)
(5,273)
$6,352
¥444,472
162,331
136,470
114,052
72,633
39,125
38,846
28,682
27,597
20,744
17,118
7,556
32,329
1,141,955
(442,402)
(31,269)
(44,383)
(518,054)
¥623,901
¥488,141
142,989
121,931
119,270
63,206
45,625
86,872
-
-
-
19,848
-
21,360
1,109,242
(415,522)
-
(56,019)
(471,541)
¥637,701
ownership of the assets have been accounted for as
ordinary sale and purchase transactions. These
standards (See Note 3) are applied to new lease
contracts entered since the fiscal year ended March
31, 2009. Such, however, new contracts have not
been entered for the fiscal year ended March 31, 2009.
Finance lease transactions that do not transfer
ownership of the assets which commenced before
April 1, 2008, have been accounted for using the same
method as for operating leases continuously. Such
finance lease transactions of the Company and its
subsidiaries, as a lessee, are shown below:
(1) Finance leases, which do not transfer ownership
of the assets to the lessee and are accounted
for as operating leases, are as follows:
(a) Acquisition costs of leased assets under finance leases are as follows:
( b) Future lease payments under finance leases are as follows:
( c) Lease payments and amounts representing depreciation and interest
are as follows:
2008 2009
Thousands of
U.S. dollars
Thousands of yen