Isuzu 2012 Annual Report Download - page 31

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Isuzu Motors Limited ■ Annual Report 2012
10. Lease Transactions
(1) Finance lease transactions, except for those which substantially
transfer the ownership to the lessee, are as follows.
a) Lessee
i) Amounts equivalent to acquisition costs, accumulated depreciation
and net book value of the finance lease assets as of March 31, 2012
and 2011 :
Amounts equivalent to interest expenses are calculated by the inter-
est method based on an excess of the sum of lease payments over
amounts equivalent to acquisition costs.
(2) Operating lease
a) Lessee
Future minimum lease payments of operating lease as of March 31,
2012 and 2011 are as follows:
9. Contingent Liabilities
Contingent liabilities at March 31, 2012 and 2011 are as follows:
Thousands of
Millions of yen U.S. dollars
2012 2011 2012
Guarantees of bank loans
¥ 617 ¥ 1,033 $ 7,518
Thousands of
Millions of yen U.S. dollars
2012 2011 2012
Acquisition costs
Accumulated depreciation
Net balance
¥ 2,463
2,007
455
¥ 4,868
3,822
1,046
$ 29,968
24,427
5,540
ii) Future minimum lease payments of finance lease as of March 31,
2012 and 2011 are as follows:
Thousands of
Millions of yen U.S. dollars
2012 2011 2012
Due within 1 year
Thereafter
Total
Thousands of
Millions of yen U.S. dollars
2012 2011 2012
Due within 1 year
Thereafter
¥ 676
1,501
¥ 601
1,264
$ 8,234
18,269
¥ 304
254
559
¥ 616
524
1,141
$ 3,699
3,102
6,801
method were revalued.
Revalued Date: March 31, 2001
The method of revaluation is as follows:
Under article 2-4 of the Enforcement Ordinance on Law concerning
Revaluation of Land, the land price for the revaluation was determined
based on the official notice prices assessed and published by the
Commissioner of National Tax Agency of Japan as basis for calculation
of Landholding Tax as stipulated in article 16 of the Landholding Tax
Law. Appropriate adjustments for the shape of land and the timing of
the assessment have been made. The land price for the revaluation for
some of the land is based on appraisal value.
The difference between the total fair value of business land, based
on the article 10 of the Enforcement Ordinance on Law concerning
Revaluation of Land, as of the end of the current fiscal year and
the total book value after revaluation revalued was ¥63,756 million
($775,718 thousands).
11. Derivatives
Derivatives recognized in the consolidated financial statements for the fiscal year ended March 31, 2012 are as follows:
1. Derivative transactions for which hedge accounting is not applied
(1) Foreign exchange-related
Millions of yen Thousands of U.S. dollars
Classification Type of derivative
transactions
Foreign exchange
Non-market forward contracts
transaction Buy
Japanese yen
U.S. dollar
Total
Contract
amount
6,998
6
7,005
Over one year
—
—
—
Fair value
(56)
(0)
(56)
Unrealized
gain (loss)
(56)
(0)
(56)
Contract
amount
85,154
77
85,232
Over one year
—
—
—
Fair value
(683)
(0)
(684)
Unrealized
gain (loss)
(683)
(0)
(684)