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Strategy Business Units Management System FINANCIAL SECTION
74
2012: Income before income taxes
Income taxes:
Current
Deferred
Japanese Foreign
Thousands of U.S. dollars
Total
$ 2,961,379
$ 845,667
159,770
$ 1,005,437
$ 976,058
$ 333,931
(73,713)
$ 260,218
$ 3,937,437
$ 1,179,598
86,057
$ 1,265,655
The Company and its domestic subsidiaries are subject
to a number of income taxes, which, in the aggregate, rep-
resent a statutory income tax rate of approximately 40% for
the years ended December 31, 2012, 2011 and 2010.
Amendments to the Japanese tax regulations were
enacted into law on November 30, 2011. As a result of these
amendments, the statutory income tax rate will be reduced
from approximately 40% to 38% effective from the year
beginning January 1, 2013, and to approximately 35% effec-
tive from the year beginning January 1, 2016 thereafter.
Consequently, the statutory income tax rate utilized for
deferred tax assets and liabilities expected to be settled or
realized in the period from January 1, 2013 to December
31, 2015 is approximately 38% and for periods subsequent
to December 31, 2015 the rate is approximately 35%. The
adjustments of deferred tax assets and liabilities for this
change in the tax rate amounted to ¥6,599 million and have
been reflected in income taxes in the consolidated state-
ment of income for the year ended December 31, 2011.
2012: Income before income taxes
Income taxes:
Current
Deferred
2011: Income before income taxes
Income taxes:
Current
Deferred
2010: Income before income taxes
Income taxes:
Current
Deferred
Japanese Foreign
Millions of yen
Total
¥ 257,640
¥ 73,573
13,900
¥ 87,473
¥ 287,592
¥ 67,671
21,047
¥ 88,718
¥ 302,965
¥ 78,359
35,496
¥ 113,855
¥ 84,917
¥ 29,052
(6,413)
¥ 22,639
¥ 86,932
¥ 23,615
8,082
¥ 31,697
¥ 89,898
¥ 32,420
(6,115)
¥ 26,305
¥ 342,557
¥ 102,625
7,487
¥ 110,112
¥ 374,524
¥ 91,286
29,129
¥ 120,415
¥ 392,863
¥ 110,779
29,381
¥ 140,160
Years ended December 31
13. INCOME TAXES
Domestic and foreign components of income before income taxes and the current and deferred income tax expense (benefit)
attributable to such income are summarized as follows: