Omron 2007 Annual Report Download - page 74
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73
The Company and its domestic subsidiaries are subject to a num-
ber of taxes based on income, which in the aggregate resulted in
a normal tax rate of approximately 41.0% in 2007, 2006 and 2005.
The effective income tax rates of the Companies differ from
the normal Japanese statutory rates as follows for the years
ended March 31:
The approximate effect of temporary differences and tax credit and loss carry forwards that gave rise to deferred tax balances at March
31, 2007 and 2006 were as follows:
The provision for income taxes for the years ended March 31, 2007, 2006 and 2005 consisted of the following:
12. Income Taxes
Current income tax expense
Deferred income tax expenses, exclusive of the following
Change in the valuation allowance
Total
2006
2007 2005 2007
Millions of yen Thousands of
U.S. dollars
¥20,393
2,160
(445)
¥22,108
$190,941
29,839
3,101
$223,881
¥23,276
3,947
15
¥27,238
¥22,531
3,521
366
¥26,418
Normal Japanese statutory rates
Increase (decrease) in taxes resulting from:
Permanently non-deductible items
Tax credit for research and development expenses
Losses of subsidiaries for which no tax benefit was provided
Difference in subsidiaries’ tax rates
Change in the valuation allowance
Other, net
Effective tax rates
20062007 2005
41.0%
3.0
(3.4)
1.5
(0.9)
0.9
(1.2)
40.9
41.0%
0.9
(3.5)
0.4
3.2
0.0
0.0
42.0
41.0%
0.6
(4.0)
3.7
(2.0)
0.6
0.0
39.9
Inventory valuation
Accrued bonuses and vacations
Termination and retirement benefits
Enterprise taxes
Intercompany profits
Marketable securities
Property, plant and equipment
Allowance for doubtful receivables
Minimum pension liability adjustment
Pension liability adjustment
Other temporary differences
Tax credit carryforwards
Operating loss carryforwards
Subtotal
Valuation allowance
Total
Millions of yen Thousands of U.S. dollars
2007
¥3,776
5,779
6,279
756
3,970
—
958
1,088
—
15,739
9,363
4,997
3,469
¥56,174
(8,826)
¥47,348
¥—
—
—
—
—
9,214
—
—
—
—
3,056
—
—
¥12,270
—
¥12,270
2006
¥3,418
5,165
11,534
1,292
3,293
—
808
814
14,827
—
9,998
4,536
3,089
¥58,774
(7,203)
¥51,571
¥—
—
—
—
—
13,998
—
19
—
—
3,869
—
—
¥17,886
—
¥17,886
2007
$32,000
48,975
53,212
6,407
33,644
—
8,119
9,220
—
133,381
79,347
42,347
29,398
$476,050
(74,797)
$401,253
$—
—
—
—
—
78,085
—
—
—
—
25,898
—
—
$103,983
—
$103,983
Deferred
tax assets
Deferred
tax liabilities
Deferred
tax assets
Deferred
tax liabilities
Deferred
tax assets
Deferred
tax liabilities