Yamaha 2003 Annual Report Download - page 40

38 YAMAHA CORPORATION
Effective the year ended March 31, 2003, the Company and its consolidated subsidiaries have adopted a new
accounting standard for earnings per share (Accounting Standard No. 2 announced by the ASBJ) as well as an
accounting implementation guidance on a revised accounting standard for earnings per share (Accounting Standard
Implementation Guidance No. 4 issued by the ASBJ) which took effect on April 1, 2002. If the previous standards
had been applied for the year ended March 31, 2003, the amounts per share would have been presented as follows:
Yen Dollars
Net assets per share............................................................................................................................ ¥1,040.45 $8.66
Net income:
Basic .............................................................................................................................................. 87.04 0.72
Diluted ........................................................................................................................................... 77.68 0.65
Note: Basis for calculation of basic net income per share and diluted net income per share
Year ended March 31, 2003
Basic net income per share:
Net income .......................................................................................................... ¥17,947 million $149,309 thousand
Amounts not attributable to shareholders of common stock................................. 82 682,196
Directors’ bonuses by appropriation of retained earnings ................................ 82 682,196
Amounts attributable to shareholders of common stock....................................... 17,864 148,618
Weighted average number of shares outstanding................................................. 206,177 thousand shares
Diluted net income per share:
Adjustments arising from dilution ....................................................................... ¥(1,069) million $ (8,894) thousand
Interest on corporate bonds, net of tax............................................................. 273 2,271
Equity in earnings of unconsolidated subsidiaries and affiliates ..................... (1,342) (11,164)
Increase in number of shares outstanding ........................................................... 11,053 thousand shares
Dilution arising from conversion of convertible bonds..................................... 11,053
Diluted shares resulting in an anti-dilutive effect................................................ — —
15. LEASES
Lessees’ accounting
The following pro forma amounts represent the acquisition costs, accumulated depreciation and net book value of the
leased assets as of March 31, 2003 and 2002 which would have been reflected in the balance sheets if finance leases
currently accounted for as operating leases had been capitalized.
Millions of Yen Thousands of U.S. Dollars
Tools Tools
and and
Year ended March 31, 2003 equipment Other Total equipment Other Total
Acquisition costs................................................................... ¥2,801 ¥1,261 ¥4,062 $23,303 $10,491 $33,794
Accumulated depreciation..................................................... 1,478 815 2,293 12,296 6,780 19,077
Net book value ...................................................................... ¥1,322 ¥ 446 ¥1,768 $10,998 $ 3,710 $14,709
Millions of Yen
Tools
and
Year ended March 31, 2002 equipment Other Total
Acquisition costs................................................................... ¥4,195 ¥1,159 ¥5,355
Accumulated depreciation..................................................... 2,620 776 3,397
Net book value ...................................................................... ¥1,574 ¥ 382 ¥1,957
Lease expenses relating to finance leases accounted for as operating leases amounted to ¥959 million ($7,978 thou-
sand) and ¥1,124 million for the years ended March 31, 2003 and 2002, respectively.
Depreciation of the leased assets is computed by the straight-line method over the respective lease terms and the
interest portion is included in the lease payments.
Future minimum lease payments subsequent to March 31, 2003 for finance leases accounted for as operating
leases are summarized as follows:
Thousands of
Year ending March 31, Millions of Yen U.S. Dollars
2004 ............................................................................................................................................................ ¥455 $3,785
2005 and thereafter ..................................................................................................................................... 511 4,251
Total ............................................................................................................................................................ ¥966 $8,037