ActiBookアプリアイコンActiBookアプリをダウンロード(無償)

  • Available on the Appstore
  • Available on the Google play

概要

Annual Reportは、ごうぎんの決算や活動内容にて海外の皆様に知っていただくために作成しています

24. Income TaxesIncome taxes consist of corporation tax, inhabitant tax and enterprise tax. Major components of deferred tax assets andliabilities as of March 31, 2015 and 2016 are summarized as follows:Millions of YenThousands ofU.S. Dollars2015 2016 2016Deferred tax assets:Reserve for possible loan losses \ 11,670 \ 11,769 $ 104,446Depreciation 1,250 1,137 10,090Impairment loss on fixed assets 2,684 2,618 23,233Write-offs of securities 982 857 7,605Net defined benefit liability 3,727 3,889 34,513Tax loss carry-forwards 34 129 1,144Deferred loss on hedging instruments 40 19 168Others 2,850 2,438 21,636Subtotal 23,240 22,860 202,875Valuation allowances (3,125) (3,045) (27,023)Total deferred tax assets 20,115 19,815 175,851Deferred tax liabilities:Reserve for deferred revenue of tangible fixed assets (102) (94) (834)Unrealized gains on other securities (30,071) (32,870) (291,711)Others (48) (47) (417)Total deferred tax liabilities (30,222) (33,012) (292,971)Net deferred tax assets (liabilities) \(10,106) \(13,197) $(117,119)A reconciliation of the statutory tax rate to the effective tax rate for the years ended March 31, 2015 and 2016 are as follows:2015 2016Statutory tax rate 35.37% 32.82%Adjustment:Entertainment and other permanently non-deductible expenses 0.33 0.32Dividend and other permanently non-taxable income (1.14) (0.87)Changes in valuation allowances 0.24 0.30Decrease in deferred tax assets due to change in tax rates 7.67 4.42Others 0.08 1.12Effective tax rate 42.56% 38.11%Changes in the statutory tax rate to determine deferred tax assets and liabilitiesFollowing the enactment of the “Act on the Partial Revision of the Income Tax etc.” and “Act on the Partial Revision of theLocal Tax etc.” at the Diet on March 29, 2016, corporation tax rate has been reduced from the fiscal year beginning April 1,2016. In line with these changes, the statutory tax rate used to measure deferred tax assets and liabilities has been changedfrom 32.06% to 30.69% for temporary differences expected to be eliminated in the fiscal year beginning April 1, 2016 and2017 and to 30.45% for those expected to be eliminated in the fiscal year beginning on or after April 1, 2018.As a result of this change, deferred tax assets and deferred tax liabilities decreased by \5 million ($44 thousand) and\776 million ($6,886 thousand), respectively, net unrealized gain on other securities and income taxes-deferred increased by\1,722 million ($15,282 thousand) and \959 million ($8,510 thousand), respectively. Deferred tax liabilities for landrevaluation excess decreased by \125 million ($1,109 thousand) and land revaluation excess increased by the same amount.Furthermore, the use of tax loss carry-forwards will be limited to 60% of taxable income before deducting tax losscarry-forwards from the fiscal year beginning April 1, 2016, and 55% from the fiscal year beginning on or after April 1, 2017.The effect of this change is immaterial.25. Asset Retirement ObligationsThe Group’s asset retirement obligations consist primarily of obligations to remove hazardous material (asbestos) used inconstruction of the buildings and obligations pursuant to real estate rental agreement to restore the property to its originalstate. The asset retirement obligations are calculated using the expected useful lives of the buildings of 2 to 39 years anddiscount rate of 0.00% to 2.26%.Changes of asset retirement obligations during the years ended March 31, 2015 and 2016 are as follows:Millions of YenThousands ofU.S. Dollars2015 2016 2016Balance at the beginning of the year \349 \354 $3,141Increase due to purchase of tangible fixed assets ? 25 221Changes due to the passage of time 4 4 35Decrease due to fulfillment of obligations ? 12 106Balance at the end of the year \354 \372 $3,30135