Yamaha 2006 Annual Report Download - page 64

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64
10. R&D EXPENSES
R&D expenses, included in selling, general and administrative expenses and cost of sales for the years ended March 31, 2006 and
2005, amounted to ¥24,055 million ($204,776 thousand) and ¥22,953 million, respectively.
Years ended March 31
Additional lump-sum early retirement incentive program payments
Loss on revaluation of investments in unconsolidated subsidiaries and affiliates
Loss on revaluation of investment securities
Structural reform expenses
Other, net
2006
$—
(1,005)
(707)
—
10,956
$ 9,236
2005
¥ (755)
(70)
(70)
(52)
1,669
¥ 722
2006
¥—
(118)
(83)
—
1,287
¥ 1,085
Millions of Yen
Thousands of
U.S. Dollars
11. OTHER INCOME (EXPENSES)
The components of “Other, net” in “Other income (expenses)” for the years ended March 31, 2006 and 2005 were as follows:
Deferred tax assets:
Write-downs of inventories
Unrealized gain on inventories and PP&E
Allowance for doubtful receivables
Depreciation
Impairment loss
Unrealized loss on investment securities
Accrued employees’ bonuses
Warranty reserve
Retirement benefits
Tax loss carryforward
Other
Valuation allowance
Total deferred tax assets
Deferred tax liabilities:
Reserve for deferred gain on property
Reserve for asset replacement
Reserve for special depreciation
Unrealized gain on securities
Other
Total deferred tax liabilities
Net deferred tax assets
2006
$ 18,481
27,675
8,921
113,501
145,756
17,570
31,131
10,088
86,022
31,055
84,720
574,964
(211,629)
$ 363,335
(13,561)
(1,728)
(3,116)
(79,629)
(3,933)
(101,975)
$ 261,360
2005
¥ 1,827
3,303
976
12,328
17,646
2,038
4,117
992
9,550
3,778
10,076
66,635
(25,688)
¥ 40,946
(1,507)
(369)
(283)
(4,541)
(529)
(7,230)
¥ 33,716
2006
¥ 2,171
3,251
1,048
13,333
17,122
2,064
3,657
1,185
10,105
3,648
9,952
67,541
(24,860)
¥ 42,681
(1,593)
(203)
(366)
(9,354)
(462)
(11,979)
¥ 30,702
Millions of Yen
Thousands of
U.S. Dollars
12. INCOME TAXES
Income taxes applicable to the Company and its domestic consolidated subsidiaries comprised corporation tax, inhabitants’ taxes
and enterprise tax which, in the aggregate, resulted in a statutory tax rate of approximately 39.5% for the years ended March 31,
2006 and 2005.
Income taxes of the overseas consolidated subsidiaries are, in general, based on the tax rates applicable in their countries
of incorporation.
The major components of deferred tax assets and liabilities as of March 31, 2006 and 2005 are summarized as follows: