Integrated Report 2019
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2. The significant components of deferred tax assets and liabilities as of March 31, 2019 and 2018 were as follows: Millions of yen Thousands ofU.S. dollars201920182019Deferred tax assets:Accrued bonuses¥   728¥   739 $  6,567Accrued enterprise taxes1181571,066Operating loss carryforwards (Note 2)1,21599510,951Net defined benefit liability4,4673,90440,253Retirement benefit trust6539095,889Research and development cost6306095,677Foreign tax credit carryforwards560―5,050Loss on valuation of inventories3001802,705Allowance for doubtful accounts1521331,369Unrealized gain3563563,211Excess of depreciation expense2522752,272Other5847515,268 Gross deferred tax assets10,0209,01290,285Valuation allowance related to operating loss carryforwards (Note 2)(1,212)—(10,923)Valuation allowance related to total deductible temporary differences (1,121)—(10,104) Valuation allowance (Note 1)(2,333)(1,206)(21,028)7,6867,80669,256Deferred tax liabilities:Revaluation of fixed assets in accordance with special tax measures(176)(181)(1,590)Net unrealized holding gain on securities(128)(290)(1,157)Depreciation expense of subsidiaries(1)(125)(14)Dividend income from consolidated subsidiaries(371)(654)(3,348)Other(30)(36)(277)(709)(1,287)(6,388) Net deferred tax assets¥6,977¥ 6,518$62,868Note1: The valuation allowance has increased by ¥1,127 million (U.S.$10,162 thousand), due to an increase of ¥560 million (U.S.$5,050 thousand) for foreign tax credit carryforwards in the Company and an additional recognition of ¥515 million (U.S.$4,646 thousand) for operating loss carryforwards in its consolidated subsidiaries.Note2: Amounts of operating loss carryforwards and related deferred tax assets by operating loss carryforwards for the year ended March 31, 2019 were as follows:Millions of yen2019Within 1 yearOver 1 year within 2 yearsOver 2 years within 3 yearsOver 3 years within 4 yearsOver 4 years within 5 yearsOver 5 yearsTotalOperating loss carryforwards¥ 56¥ 52¥ 201¥ 41¥  0¥ 863¥ 1,215Valuation allowance(56)(52)(201)(41)(0)(859)(1,212)Deferred tax assets¥ ―¥ ―¥  ―¥ ―¥―¥   3¥     3Thousands of U.S. dollars2019Within 1 yearOver 1 year within 2 yearsOver 2 years within 3 yearsOver 3 years within 4 yearsOver 4 years within 5 yearsOver 5 yearsTotalOperating loss carryforwards$ 508$ 470$ 1,817$ 375$  3$ 7,776$ 10,951Valuation allowance(508)(470)(1,817)(375)(3)(7,748)(10,923)Deferred tax assets$  ―$  ―$    ―$  ―$―$   28$    28Note: Figures for operating loss carryforwards was the amounts multiplied by statutory tax rate.96LINTEC INTEGRATED REPORT 2019Financial Information

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