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49
NIKON CORPORATION ANNUAL REPORT 2013
FINANCIAL SECTION
A reconciliation between the normal effective statutory tax rates and the actual effective tax rates reflected in the accompanying
consolidated statement of income for the year ended March 31, 2013, with the corresponding figures for 2012 is as follows:
2012 2013
Normal statutory tax rate 40.6% 38.0%
Tax credit for research and development costs (4.2) (2.2)
Tax rate difference of consolidated subsidiaries (7.2) (7.1)
Deferred tax assets for unrealizable profits (6.0) 0.4
Increase in valuation allowance (0.1) (1.1)
Tax effect on retained earnings for foreign subsidiaries 2.4
Amortization of goodwill 3.8 0.4
Effect of corporate income tax rate reduction in Japan 4.2
Other—net 0.1 0.6
Actual effective tax rate 31.2% 31.4%
The “Act for Partial Revision of the Income Tax Act, etc., for the Purpose of Creating Taxation System Responding to Changes
in Economic and Social Structures” (Act No. 114 of 2011) and the “Act on Special Measures for Securing Financial Resources
Necessary to Implement Measures for Reconstruction following the Great East Japan Earthquake” (Act No. 117 of 2011)
promulgated on December 2, 2011 led to a reduction of corporate tax rates and the introduction of a special reconstruction
corporate tax from the fiscal year beginning on April 1, 2012. Consequently, the effective statutory tax rate applicable in
calculation of deferred tax assets and deferred tax liabilities has been changed from the previous rate of 40.6% to 38.0% for
the temporary difference expected to be resolved in the fiscal year beginning on April 1, 2012 to the fiscal year beginning on
April 1, 2014, and to 35.6% for the temporary difference expected to be resolved in the fiscal year beginning on April 1, 2015
or thereafter.
12. Research and Development Costs
Research and development costs charged to income were ¥68,701 million and ¥76,497 million ($813,364 thousand) for the fiscal
years ended March 31, 2012 and 2013, respectively.
13. Leases
The Group leases certain machinery and equipment for manufacturing.
The minimum rental commitments under noncancelable operating leases at March 31, 2012 and 2013 were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2012 2013 2013
Due within one year ¥2,844 ¥ 3,634 $ 38,642
Due after one year 5,071 6,476 68,857
Total ¥7,915 ¥10,110 $107,499