Mitsubishi 2003 Annual Report Download - page 72

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70
ANNUAL REPORT 2003 POWER TO CHANGE
19. SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash and cash equivalents at March 31, 2003 and 2002 consisted of the following:
(In thousands of
(In millions of yen) U.S. dollars)
Year ended March 31, 2003 2002 2003
Cash and bank deposits ¥81,728 ¥90,269 $679,933
Time deposits with maturities of three months or more (916) (930) (7,621)
Short-term investments maturing within
three months from the acquisition dates 3,732 5,851 31,048
Cash and cash equivalents ¥84,544 ¥95,189 $703,361
Additions and collection of finance receivables were classified in “loans made” and “collection of loans receivable” respectively,
within investing activities in the consolidated statements of cash flows in the year ended March 31, 2002. However, the management
of these overseas subsidiaries consider finance receivables as operational assets and consequently, in the year ended March 31, 2003,
additions and collections of finance receivables have been classified as “changes in operating assets and liabilities – finance receiv-
ables.” The effect of this change was to decrease net cash provided by operating activities by ¥114,009 million ($948,494 thousand)
and to increase net cash provided by investing activities by ¥114,009 million ($948,494 thousand) in the year ended March 31, 2003.
No restatement of the March 31, 2002 amounts has been made.
Net interest paid for the years ended March 31, 2003 and 2002 amounted to ¥27,858 million ($231,763 thousand) and ¥22,435
million, respectively. Income taxes paid for the years ended March 31, 2003 and 2002 amounted to ¥7,668 million ($63,794 thousand)
and ¥11,726 million, respectively.
20. RELATED PARTY TRANSACTION
MMC entered into a Share Sale and Purchase Agreement and sold its shares in MFTBC to DaimlerChrysler AG, holder of 37% of MMC’s
shares (including indirect investments), during the year ended March 31, 2003. The sale proceeds and gain on sale of shares, which
were included in the year ended March 31, 2003, were ¥99,110 million ($824,542 thousand) and ¥4,515 million ($37,562 thousand),
respectively, and the amount included in other current assets at March 31, 2003 was ¥12,713 million ($105,765 thousand).
21. SUBSEQUENT EVENTS
At the stockholders’ meeting held on June 25, 2003, the disposition of the non-consolidated accumulated deficit of MMC of ¥197,179
million ($1,640,424 thousand) by offset against capital surplus was approved, as permitted by the Code. As a result, the capital surplus
will decrease by ¥197,179 million ($1,640,424 thousand).