CENTRAL JAPAN RAILWAY COMPANY Annual Report 2007
CENTRAL JAPAN RAILWAY COMPANY Annual Report 2007
CENTRAL JAPAN RAILWAY COMPANY Annual Report 2007
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The minimum rental commitments under noncancelable operating leases at March 31, <strong>2007</strong> and 2006 are due as follows:<br />
<br />
<br />
Total<br />
¥ 864<br />
1,406<br />
¥ 2,270<br />
<br />
¥ 864<br />
2,270<br />
¥ 3,135<br />
<br />
<br />
<strong>2007</strong> 2006 <strong>2007</strong><br />
$ 7,322<br />
11,915<br />
$ 19,237<br />
12. CONTINGENCIES<br />
The Company has joint and several obligations with Railway Technical Research Institute to make payments on long-term borrowings of ¥34,462 million<br />
($292,050 thousand) by the Institute as of March 31, <strong>2007</strong>, the proceeds of which are being used for the enhancement of technology development for the<br />
Maglev system.<br />
As discussed in Notes 7 and 8, based on debt assumption agreements with the financial institutions and the special purpose entity, the Company has<br />
transferred the debt repayment obligation for certain bonds and long-term payables to such financial institutions and special purpose entity. At March 31,<br />
<strong>2007</strong>, the Company had contingent obligations of ¥20,000 million ($169,491 thousand) for the bonds and ¥386,083 million ($3,271,889 thousand) for longterm<br />
payables, respectively.<br />
The Company also had contingent liabilities for guarantees of the loans of a subsidiary amounting to ¥55,053 million ($466,550 thousand) at March 31, <strong>2007</strong>.<br />
13. SUBSEQUENT EVENT<br />
The following appropriations of retained earnings at March 31, <strong>2007</strong> were approved at the Company's shareholders meeting held on June 22, <strong>2007</strong>:<br />
¥<br />
<br />
<br />
<br />
¥ 7,888 $ 66,847<br />
60
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