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Page
55.
TOSHIBA ANNUAL REPORT 1999
5. FINANCE RECEIVABLES:
Finance receivables comprise the following:
Thousands of
Millions of yen U.S. dollars
March 31 1999 1998 1999
Investment in financing leases:
Total minimum lease payments receivable . . . . . . . . . . . . . . . . . . . . . . ¥ 377,182 ¥ 356,070 $ 3,117,207
Estimated executory costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16,796) (15,609) (138,810)
Unearned income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (19,510) (20,287) (161,240)
Estimated residual values . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,113 7,064 58,785
347,989 327,238 2,875,942
Less – Allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,887) (1,758) (15,595)
346,102 325,480 2,860,347
Less – Current portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (120,626) (114,632) (996,909)
¥ 225,476 ¥ 210,848 $ 1,863,438
Other finance receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 262,727 ¥ 263,760 $ 2,171,298
Less – Allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . (14,027) (20,337) (115,926)
248,700 243,423 2,055,372
Less – Current portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (139,039) (135,903) (1,149,083)
¥ 109,661 ¥ 107,520 $ 906,289
Investment in financing leases consists of sales-type and direct financing leases mainly of information systems, medical
equipment, agricultural and industrial equipment and others.
Other finance receivables represent transactions in a variety of forms, including commercial loans, and installment sales of
consumer products manufactured by the company.
At March 31, 1999, the contractual maturities of minimum lease payments of the investment in financing leases and the other
finance receivables are as follows:
Investment in financing leases Other finance receivables
Millions Thousands of Millions Thousands of
Year ending March 31 of yen U.S. dollars of yen U.S. dollars
2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥124,901 $1,032,240 ¥141,793 $1,171,843
2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98,136 811,042 40,744 336,727
2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73,842 610,264 25,764 212,926
2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,790 403,223 14,474 119,620
2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,395 201,612 16,330 134,959
Thereafter. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,118 58,826 23,622 195,223
¥377,182 $3,117,207 ¥262,727 $2,171,298
Allowance for doubtful accounts is provided upon past loss experience and the estimation of mortgaged asset values.
6. INVENTORIES:
Inventories comprise the following:
Thousands of
Millions of yen U.S. dollars
March 31 1999 1998 1999
Finished products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥356,538 ¥ 368,652 $2,946,595
Work in process:
Long-term contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 288,830 294,275 2,387,025
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231,283 215,185 1,911,430
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121,235 123,689 1,001,942
¥997,886 ¥1,001,801 $8,246,992