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Annual Report 2016 / 4635
CONTENTS
To Our Stakeholders Prole Special Features ESG Information Financial Section Corporate Data
The annual maturities of bonds and long-term loans payable at March 31, 2016:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2017 .............................................................................................................. ¥ — $ —
2018 .............................................................................................................. 6,000 53,097
2019 .............................................................................................................. 38,000 336,283
2020 .............................................................................................................. 10,000 88,496
2021 .............................................................................................................. 23,000 203,540
The annual maturities of lease obligations at March 31, 2016:
Year ending March 31 Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2017 .............................................................................................................. ¥841 $7,442
2018 .............................................................................................................. 587 5,195
2019 .............................................................................................................. 333 2,947
2020 .............................................................................................................. 195 1,726
2021 .............................................................................................................. 106 938
The lines of credit with the main financial institutions agreed as of March 31, 2016 and 2015:
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 2015 2016
Line of credit .............................................................................. ¥57,100 ¥57,196 $505,310
Unused ...................................................................................... 57,100 57,196 505,310
9. Income Taxes
(1) The following table summarizes the significant differences between the statutory tax rate and the Group’s
actual income tax rate for financial statement purposes for the years ended March 31, 2016 and 2015.
2016 2015
Statutory tax rate ................................................................................................ 33.1% 35.6%
Increase (reduction) in tax resulting from:
Difference in statutory tax rate (including overseas subsidiaries) ...................... (2.7) (6.5)
Valuation allowance ....................................................................................... (9.4) (11.7)
Retained earnings of overseas subsidiaries ..................................................... (1.4) 3.4
Decrease of deferred tax assets at year end due to changes of Japan tax rate .... 1.8 4.6
Other ............................................................................................................ 1.9 (2.6)
Actual income tax rate ........................................................................................ 23.3% 22.8%
(2) Significant components of deferred tax assets and liabilities as of March 31, 2016 and 2015:
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 2015 2016
Deferred tax assets:
Net operating loss carryforwards ............................................ ¥11,626 ¥ 17,233 $102,885
Inventories ............................................................................ 1,932 1,913 17,097
Retirement benefits and the related expenses ......................... 1,928 713 17,062
Accrued expenses (bonuses to employees) ............................ 1,695 1,827 15,000
Property, plant and equipment ............................................... 1,491 1,624 13,195
Other .................................................................................... 5,017 5,722 44,398
Gross deferred tax assets ........................................................... 23,689 29,032 209,637
Valuation allowance .................................................................... (6,025) (10,398) (53,319)
Total deferred tax assets ........................................................ 17,664 18,634 156,318
Deferred tax liabilities:
Valuation difference on available-for-sale securities ................. (3,526) (5,451) (31,204)
Retained earnings of overseas subsidiaries ............................. (2,775) (3,325) (24,558)
Unrealized holding gain .......................................................... (1,287) (1,366) (11,389)
Reserve for advanced depreciation of non-current assets ....... (70) (80) (619)
Other .................................................................................... (71) (80) (628)
Total deferred tax liabilities ..................................................... (7,729) (10,302) (68,398)
Net deferred tax assets .......................................................... ¥ 9,935 ¥ 8,332 $ 87,920
Notes to Consolidated Financial Statements