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35
Annual Report 2011
The annual maturities of bonds and long-term loans payable at March 31, 2011 were as follows:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
2012........................................................................................................................................... ¥10,000 $120,482
2013........................................................................................................................................... — —
2014........................................................................................................................................... 30,000 361,446
2015........................................................................................................................................... 68,000 819,277
2016........................................................................................................................................... 15,000 180,723
The annual maturities of lease obligations at March 31, 2011 were as follows:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
2012........................................................................................................................................... ¥740 $8,916
2013........................................................................................................................................... 675 8,133
2014........................................................................................................................................... 456 5,494
2015........................................................................................................................................... 218 2,627
2016........................................................................................................................................... 85 1,024
Thereafter ................................................................................................................................... 32 386
The line of credit with the main financial institutions agreed as of March 31, 2011 and 2010 was as follows:
Millions of Yen
Thousands of
U.S. Dollars
2011 2010 2011
Line of credit ...................................................................................................... ¥88,735 ¥61,725 $1,069,096
Unused .............................................................................................................. 88,735 61,725 1,069,096
10. Income Taxes
The Company and domestic consolidated subsidiaries used the statutory income tax rate of 40.7% for calculation of deferred
income tax assets and liabilities at March 31, 2011.
The following table summarizes the significant differences between statutory tax rate and the Group’s actual income tax rate
for financial statement purposes for the year ended March 31, 2011.
2011
Statutory tax rate .................................................................................................................................................... 40.7%
Increase (reduction) in tax resulting from:
Nondeductive expenses (Entertainment, etc.) ..................................................................................................... 1.1
Difference in statutory tax rate (included in foreign subsidiaries)......................................................................... (8.3)
Valuation allowance .......................................................................................................................................... 7.7
Equity in earnings of affiliates ............................................................................................................................ 6.3
Other ................................................................................................................................................................. 1.7
Actual income tax rate ............................................................................................................................................ 49.2%
The significant differences between the statutory tax rate and the Group’s actual income tax rate for financial statement purposes
for the year ended March 31, 2010 are not disclosed because the Company recognized a loss before income taxes.