Casio 2011 Annual Report Download - page 39

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Annual Report 2011
12. Net Assets
Under the Japanese Corporation Law (“the Law”) and regulations, the entire amount paid for new shares is required to be
designated as capital stock. However, a company may, by a resolution of the Board of Directors, designate an amount not
exceeding one-half of the price of the new shares as additional paid-in capital, which is included in capital surplus.
In cases where dividend distribution of surplus is made, the smaller of an amount equal to 10% of the dividend or the excess,
if any, of 25% of capital stock over the total of additional paid-in capital and legal earnings reserve must be set aside as additional
paid-in capital or legal earnings reserve. Legal earnings reserve is included in retained earnings in the accompanying consolidated
balance sheets.
Additional paid-in capital and legal earnings reserve may not be distributed as dividends. However, all additional paid-in capital
and all legal earnings reserve may be transferred to other capital surplus and retained earnings, respectively, which are potentially
available for dividends.
The maximum amount that the Company can distribute as dividends is calculated based on the non-consolidated financial
statements of the Company in accordance with the Law.
13. Lease Transactions
(1) Finance lease transactions which do not transfer the ownership of the leased property to the lessee, and that were
concluded prior to the first year for which the new accounting standards were applied
The amounts of outstanding future lease payments and accumulated impairment losses on leased assets due at March 31, 2011
and 2010 and total lease expenses (corresponding to reversal of accumulated impairment loss on lease assets, total assumed
depreciation cost, total assumed interest cost and impairment loss) as lessee for the years ended March 31, 2011 and 2010 were as
follows:
Millions of Yen
Thousands of
U.S. Dollars
2011 2010 2011
Future lease payments:
Due within one year ..................................................................................... ¥ 861 ¥1,747 $10,373
Due over one year ........................................................................................ 367 1,718 4,422
Total ............................................................................................................. ¥1,228 ¥3,465 $14,795
Term-end balance of accumulated impairment loss on lease assets .................... ¥ 646 ¥2,149 $ 7,783
Total lease expenses ........................................................................................... ¥1,290 ¥2,881 $15,542
Reversal of accumulated impairment loss on lease assets .................................... ¥ 787 ¥1,413 $ 9,482
Total assumed depreciation cost ........................................................................ ¥ 490 ¥ 909 $ 5,904
Total assumed interest cost ................................................................................ ¥ 61 ¥ 151 $ 735
Total assumed impairment loss .......................................................................... ¥ 12 ¥ — $ 145
Assumed data as to acquisition cost, accumulated depreciation, accumulated impairment loss and net book value of the lease
assets under the finance lease contracts as lessee at March 31, 2011 and 2010 were summarized as follows:
Millions of Yen Thousands of U.S. Dollars
2011 2010 2011
Acquisition
cost
Accumulated
depreciation
Accumulated
impairment
loss
Net book
value
Acquisition
cost
Accumulated
depreciation
Accumulated
impairment
loss
Net book
value
Acquisition
cost
Accumulated
depreciation
Accumulated
impairment
loss
Net book
value
Machinery .............. ¥4,631 ¥2,244 ¥2,011 ¥376 ¥7,342 ¥3,385 ¥3,326 ¥ 631 $55,795 $27,036 $24,229 $4,530
Equipment ............. 393 322 5 66 1,202 886 19 297 4,735 3,879 60 796
Other ..................... 311 243 — 68 895 657 — 238 3,747 2,928 — 819
Total ................. ¥5,335 ¥2,809 ¥2,016 ¥510 ¥9,439 ¥4,928 ¥3,345 ¥1,166 $64,277 $33,843 $24,289 $6,145
(2) Operating leases
The amount of outstanding future noncancellable lease payments due at March 31, 2011 and 2010 were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2011 2010 2011
Future lease payments:
Due within one year ..................................................................................... ¥ 57 ¥32 $ 687
Due over one year ........................................................................................ 72 59 867
Total ............................................................................................................. ¥129 ¥91 $1,554