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11. Lease Information
Finance leases contracted before March 31, 2008, except for those leases for which the ownership of the leased assets are considered to be transferred
to the lessees, are accounted for in the same manner as operating leases. At March 31, 2009 and 2008, the equivalent amounts of purchase price,
accumulated depreciation and book value of leased properties were as follows:
Millions of Yen
Thousands of U.S. Dollars
2009 2008 2009
Purchase price equivalent of machinery and equipment ¥527 ¥989 $5,355
Accumulated depreciation equivalent of machinery and equipment 454 776 4,622
Net book value equivalent ¥ 73 ¥213 $ 743
Regarding the materiality, from the year ended March 31, 2009, the purchase price equivalent and Accumulated depreciation do not exclude the interest
expenses.
The future minimum lease payments under finance leases at March 31, 2009 and those excluding interest expense under finance leases at March 31,
2008 were as follows:
Millions of Yen
Thousands of U.S. Dollars
2009 2008 2009
Current ¥63 ¥140 $641
Non-current 9 83 92
Total ¥72 ¥223 $733
Such finance lease payments of the Companies amounted to ¥104 million (US$1,059 thousand), ¥232 million and ¥302 million for the years ended March
31, 2009, 2008 and 2007, respectively.
The equivalent of depreciation expense amounting to ¥104 million (US$1,059 thousand) in 2009, ¥218 million in 2008, and ¥284 million in 2007, was
computed using the straight-line method over the lease terms assuming no residual value. The equivalent of interest expense amounting to ¥7 million in
2008, and ¥12 million in 2007, was computed using the interest rate method over the lease terms for the difference between acquisition cost and total
lease payments.
The future minimum lease payments under noncancelable operating leases at March 31, 2009 and 2008 were as follows:
Millions of Yen
Thousands of U.S. Dollars
2009 2008 2009
Current ¥345 ¥447 $3,512
Non-current 399 483 4,062
Total ¥744 ¥930 $7,574
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