Nikon 1999 Annual Report Download - page 25

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23
10. RESEARCH AND DEVELOPMENT EXPENSES
Research and development expenses incurred were ¥18,729 million ( $155 thousand ), ¥21,633 million and ¥19,681 million for the years ended
March 31, 1999, 1998 and 1997, respectively.
11. LEASE PAYMENTS
Total lease payments under financing lease arrangements that do not transfer ownership of the leased property to the Company and its domes-
tic subsidiaries were ¥4,735 million ( $ 39,282 thousand ), ¥5,032 million and ¥3,789 million for the years ended March 31, 1999, 1998 and 1997,
respectively.
Pro forma information of leased property such as acquisition cost, accumulated depreciation, obligation under finance lease, and deprecia-
tion expense of finance leases that do not transfer ownership of the leased property to the leasee on an “as if capitalized” basis for the years
ended March 31, 1999, was as follows: Millions of Yen Thousands of U.S. Dollars
Machinery Furniture Machinery Furniture
and and and and
Equipment Fixtures Total Equipment Fixtures Total
Acquisition cost ¥10,854 ¥10,916 ¥21,770 $90,040 $90,556 $180,596
Accumulated depreciation 5,375 5,239 10,615 44,593 43,466 88,059
Net leases property ¥ 5,478 ¥ 5,676 ¥11,155 $45,447 $47,090 $ 92,537
Obligations under finance leases at March 31, 1999 and 1998 were as follows: Thousands of
Millions of Yen U.S. Dollars
1999 1998 1999
Due within one year ¥ 3,863 ¥ 4,122 $32,050
Due after one year 7,291 8,041 60,487
¥11,155 ¥12,163 $92,537
The amount of obligations under finance leases includes the imputed interest expense portion.
Depreciation expense, which are not reflected in the accompanying consolidated statement of operations, computed by the straight-line
method was applied ¥4,735 million ( $39,282 thousand ) for the year ended March 31, 1999.
The minimum rental commitments under noncancellable operating leases at March 31, 1999 were as follows : Thousands of
Millions of Yen U.S. Dollars
Due within one year ¥ 958 $ 7,951
Due after one year 1,368 11,351
¥ 2,326 $ 19,302
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