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37
Annual Report 2010
The annual maturities of bonds and long-term loans payable at March 31, 2010 were as follows:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
2011........................................................................................................................................... ¥ 450 $ 4,839
2012........................................................................................................................................... 10,000 107,527
2013........................................................................................................................................... — —
2014........................................................................................................................................... 10,000 107,527
2015........................................................................................................................................... 68,000 731,182
The annual maturities of lease obligations at March 31, 2010 were as follows:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
2011........................................................................................................................................... ¥3,489 $37,516
2012........................................................................................................................................... 1,577 16,957
2013........................................................................................................................................... 718 7,720
2014........................................................................................................................................... 449 4,828
2015........................................................................................................................................... 144 1,548
Thereafter ................................................................................................................................... 192 2,065
The line of credit with the main financial institutions agreed as of March 31, 2010 and 2009 was as follows:
Millions of Yen
Thousands of
U.S. Dollars
2010 2009 2010
Line of credit ...................................................................................................... ¥61,725 ¥63,510 $663,710
Unused .............................................................................................................. 61,725 63,510 663,710
10. Income Taxes
Significant components of deferred tax assets and liabilities as of March 31, 2010 and 2009 were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2010 2009 2010
Deferred tax assets:
Net operating loss carryforwards ................................................................... ¥22,004 ¥11,430 $236,602
Intangible assets ........................................................................................... 8,543 7,693 91,860
Provision for retirement benefits ................................................................... 7,575 6,612 81,452
Inventories .................................................................................................... 4,188 3,298 45,032
Property, plant and equipment ..................................................................... 3,384 4,107 36,387
Accrued expenses (bonuses to employees) .................................................... 2,483 2,538 26,699
Other ............................................................................................................ 10,677 10,134 114,807
Gross deferred tax assets ................................................................................... 58,854 45,812 632,839
Valuation allowance ........................................................................................... (34,774) (18,634) (373,914)
Total deferred tax assets ............................................................................... 24,080 27,178 258,925
Deferred tax liabilities:
Unrealized holding gain ................................................................................ (2,766) (1,878) (29,742)
Valuation difference on available-for-sale securities ....................................... (1,878) (729) (20,193)
Reserve for advanced depreciation of noncurrent assets ................................ (183) (194) (1,968)
Other ............................................................................................................ (94) (159) (1,011)
Total deferred tax liabilities ........................................................................... (4,921) (2,960) (52,914)
Net deferred tax assets ................................................................................. ¥19,159 ¥24,218 $206,011
The significant differences between the statutory tax rate and the Company’s effective tax rate for financial statement purposes
for the year ended March 31, 2010 and 2009 are not disclosed because the Company recognized a loss before income taxes and
minority interests.