Integrated Report 2019
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4. Reduction EntryReduction entry amounts and details deducted from the acquisition cost of property, plant and equipment as of March 31, 2019 and 2018 were as follows: Millions of yen Thousands ofU.S. dollars201920182019Buildings and structures¥—¥19$—Machinery, equipment and vehicles—36—Total¥—¥55$—5. Notes Maturing as of the End of the Fiscal YearNotes maturing as of the end of the fiscal year are settled on the clearing date. In addition, accounts receivable and payable with due date that is the last day of the fiscal year are also settled on the clearing date. As the last day of the current fiscal year was a non-business day of financial institutions, the following amounts of receivables and payables maturing as of March 31, 2019 and 2018 were included in the ending balance. Millions of yen Thousands ofU.S. dollars201920182019Trade notes and accounts receivable¥5,269¥4,988$47,473Trade notes and accounts payable8,9028,52180,2116. Selling, General and Administrative ExpensesMajor items included in selling, general and administrative expenses for the years ended March 31, 2019 and 2018 were as follows: Millions of yen Thousands ofU.S. dollars201920182019Transportation and warehousing expenses¥ 5,536 ¥ 5,309 $ 49,879 Provision for allowance for doubtful accounts(9)(4)(86)Salaries and allowances9,5409,35885,960Retirement benefit expenses3363213,033Provision for directors’ bonuses7085632Depreciation and amortization1,2111,35010,916Research and development expenses8,3197,92574,960Other18,29518,381164,837Total¥43,300 ¥42,727 $390,1327. Research and Development ExpensesResearch and development expenses, all of which were included in selling, general and administrative expenses, for the years ended March 31, 2019 and 2018 were ¥8,319 million (U.S.$74,960 thousand) and ¥7,925 million, respectively.8. Gain on Sales of Noncurrent AssetsGain on sales of noncurrent assets was related to sales of land for the year ended March 31, 2019.9. Impairment LossThe Company recognized impairment loss on the following classes of assets for the year ended March 31, 2018:Millions of yen 2018Major useLocationCategoryImpairment Loss—Kentucky State, U.S.A.Goodwill¥1,041The Companies categorize goodwill into groups mainly based on each company in consolidated subsidiaries for the goodwill impairment testing.VDI, LLC recognized an impairment loss of ¥1,041 million for the goodwill as future operating results were expected to be lower than the business plan at the time of acquisition of VDI, LLC.The recoverable amount of the goodwill was measured at the value in use determined by future cash flows discounted at 18.0%.10. Provision for Business Structure ImprovementThe Company has recognized provision for business structure improvement for a management rationalization of MADICO, INC., its wholly owned consolidated subsidiary in the U.S. for the year ended March 31, 2018 and the loss is mainly related to the special retirement expenses.83LINTEC INTEGRATED REPORT 2019Financial InformationESGStrategyOverview

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