Yamaha 2005 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2005 Yamaha annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 78

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78

60 Yamaha Annual Report 2005
11. OTHER INCOME (EXPENSES)
The components of “Other, net” in “Other income (expenses)” for the years ended March 31, 2005 and 2004 were as follows:
12. INCOME TAXES
Income taxes applicable to the Company and its domestic consolidated subsidiaries comprised corporation tax, inhabitants’ taxes
and enterprise tax which, in the aggregate, resulted in a statutory tax rate of approximately 40.9% for the years ended March 31,
2005 and 2004.
Income taxes of the overseas consolidated subsidiaries are, in general, based on the tax rates applicable in their countries of
incorporation.
The major components of deferred tax assets and liabilities as of March 31, 2005 and 2004 are summarized as follows:
Deferred tax assets:
Write-downs of inventories
Unrealized gain on inventories and PP&E
Allowance for doubtful receivables
Depreciation
Impairment loss
Unrealized loss on investment securities
Accrued employees’ bonuses
Warranty reserve
Retirement benefits
Tax loss carryforward
Other
Valuation allowance
Total deferred tax assets
Deferred tax liabilities:
Reserve for deferred gain on properties
Reserve for asset replacement
Reserve for special depreciation
Unrealized gain on securities
Other
Total deferred tax liabilities
Net deferred tax assets
2005
$ 17,013
30,757
9,088
114,797
164,317
18,978
38,337
9,237
88,928
35,180
93,826
620,495
(239,203)
$ 381,283
(14,033)
(3,436)
(2,635)
(42,285)
(4,926)
(67,325)
$ 313,958
2004
¥ 1,612
—
1,066
9,597
—
2,298
4,690
867
17,667
9,240
9,999
57,039
(18,305)
¥ 38,734
(1,617)
—
(159)
(6,957)
(621)
(9,355)
¥ 29,378
2005
¥ 1,827
3,303
976
12,328
17,646
2,038
4,117
992
9,550
3,778
10,076
66,635
(25,688)
¥ 40,946
(1,507)
(369)
(283)
(4,541)
(529)
(7,230)
¥ 33,716
Millions of Yen
Thousands of
U.S. Dollars
Years ended March 31
Additional lump-sum early retirement incentive program payments
Loss on revaluation of investments in unconsolidated subsidiaries and affiliates
Loss on revaluation of investment securities
Structural reform expenses
Fines and penalties for violations of EC fair competition laws by four regional entities
Social security premiums paid following revision of overall salary system
Other, net
2005
$ (7,030)
(652)
(652)
(484)
—
—
15,541
$ 6,723
2004
¥—
(393)
(110)
(6)
(339)
(922)
1,389
¥ (381)
2005
¥ (755)
(70)
(70)
(52)
—
—
1,669
¥ 722
Millions of Yen
Thousands of
U.S. Dollars