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10. Contingent Liabilities
Loan guarantees given in the ordinary course of business amounted to ¥3,235 million ($34,772 thousand) and ¥4,007 million at March
31, 2010 and 2009, respectively. Agreements similar to guarantees given in the ordinary course of business amounted to ¥1,525 million
($16,400 thousand) and ¥1,424 million at March 31, 2010 and 2009, respectively.
11. Selling, General and Administrative Expenses
Selling, general and administrative expenses for the years ended March 31, 2010 and 2009 consisted of the following:
In millions of yen
In thousands of
U.S. dollars
2010 2009 2010
Advertising and promotion expenses
¥ 52,211 ¥ 78,783 $ 561,172
Freightage expense
24,509 44,530 263,426
Provision for allowance for doubtful accounts
647 –6,955
Directors’ compensations, salaries and allowances
56,761 66,979 610,071
Pension expenses
4,645 5,144 49,928
Depreciation
11,869 13,791 127,572
Research and development expenses
22,479 35,808 241,609
Other
46,937 61,485 504,484
Total
¥220,060 ¥306,524 $2,365,221
12. Other Gain (Loss), Net
Other gain (loss), net for the years ended March 31, 2010 and 2009 consisted of the following:
In millions of yen
In thousands of
U.S. dollars
2010 2009 2010
Gain on sales of investments in securities
¥ 138 ¥ 91 $ 1,487
Gain (loss) on sales and retirement of property, plant and equipment, net
736 (2,968) 7,912
Reversal of allowance for doubtful accounts
–460 –
Equity in earnings of affiliates
4,544 367 48,840
Early retirement expense
(1,168) (8,832) (12,557)
Litigation expenses
(1,752) (3,517) (18,835)
Foreign exchange gains (losses)
9,130 (5,105) 98,139
Reversal of loss on liquidation of subsidiaries and affiliates
1,167 –12,548
Reversal of cost related to the closure of the production facility of Australian subsidiary
–1,896 –
Environmental expenses
(1,949) –(20,949)
Gain on transfer from business divestitures
–561 –
Other
(1,669) (5,042) (17,943)
Total
¥ 9,177 ¥(22,088) $ 98,642
13. Cash Flow Information
Cash and cash equivalents at March 31, 2010 and 2009 consisted of the following:
In millions of yen
In thousands of
U.S. dollars
2010 2009 2010
Cash and bank deposits
¥264,323 ¥167,841 $2,840,964
Time deposits with maturities of more than three months
(869) (13,175) (9,350)
Cash and cash equivalents
¥263,453 ¥154,666 $2,831,613
Interest paid less interest received and dividends received within operating activities in the consolidated statements of cash flows
for the years ended March 31, 2010 and 2009 amounted to a net expense of ¥10,814 million ($116,235 thousand) and ¥5,917 million,
respectively. Income taxes paid for the years ended March 31, 2010 and 2009 amounted to ¥5,006 million ($53,807 thousand) and
¥6,727 million, respectively.
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MITSUBISHI MOTORS CORPORATION Annual Report 2010MITSUBISHI MOTORS CORPORATION Annual Report 2010