Mitsubishi 1999 Annual Report Download - page 54

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Notes to consolidated financial statements
52
12. Leases
As lessee
MMC and its subsidiaries lease certain property, plant and equipment. For the years ended March 31, 1999 and 1998,
finance lease transactions, except for agreements which stipulate transfer of the title of the assets to the lessee were as
follows:
At March 31, 1999, the equivalent of the acquisition cost of finance lease transactions, except for agreements which
stipulate transfer of the title of the assets to the lessee, amounted to ¥108,303 million ($898,407 thousand) for tools
and equipment and ¥19,848 million ($164,645 thousand) for others. The total equivalent of the related net book value,
which is less than the related accumulated depreciation of ¥76,639 million ($635,746 thousand) was ¥51,512 million
($427,308 thousand).
For the years ended March 31, 1999 and 1998, lease payments for finance lease transactions, except for agreements
which stipulate transfer of the title of the assets to the lessee, amounted to ¥31,038 million ($257,470 thousand) and
¥34,251 million, respectively. The equivalent of the related depreciation and interest expense for the year ended March
31, 1999 amounted to ¥27,743 million ($230,137 thousand) and ¥2,915 million ($24,181 thousand), respectively.
Operating lease transactions entered into as lessee by MMC and its consolidated subsidiaries for the years ended March
31, 1999 and 1998 were as follows:
As lessor
Operating lease transactions entered into as lessor by MMC and its consolidated subsidiaries for the year ended March
31, 1999 and 1998 were as follows:
March 31,
1999 1998 1999
(In millions of yen) (In thousands of
U.S. dollars)
Finance lease obligations:
Due within 1 year ¥ 25,631 ¥ 27,752 $ 212,617
Due after 1 year 46,443 41,921 385,259
Total ¥ 72,074 ¥ 69,673 $ 597,876
March 31,
1999 1998 1999
(In millions of yen) (In thousands of
U.S. dollars)
Future minimum lease expanses
on operating leases:
Due within 1 year ¥ 17,313 ¥ 18,670 $ 143,617
Due after 1 year 82,542 94,880 684,712
Total ¥ 99,855 ¥113,550 $ 828,328
March 31,
1999 1998 1999
(In millions of yen) (In thousands of
U.S. dollars)
Future minimum lease revenue
on operating leases:
Due within 1 year ¥ 47,276 ¥ 38,634 $ 392,169
Due after 1 year 56,531 50,381 468,942
Total ¥103,808 ¥ 89,016 $ 861,120