(4) Financial Revitalization Account

Balance Sheet

(Unit:¥million)
Assets Liabilities and Net Assets
Item March 31,
2012
(Reference)
March 31,
2011
Item March 31,
2012
(Reference)
March 31,
2011
(Current Assets) 3,996 3,831 (Current Liabilities) 811,413 429,904
Cash and Deposits
96 94
Short-Term Borrowings
211,000 229,400
Short-Term Loans
200 1,972
DICJ Bonds (due for redemption within 1 year)
600,000 200,000
Money Deposited
1,494 1,335
Discount on DICJ Bonds (due for redemption within 1 year)
(19) (29)
     
Accounts Payable
109 112
Securities
1,668
Accrued Expensed Payable
297 280
Suspense Payments
19 22
Advance Payments Received
26 28
Prepaid Expenses
17 15
Suspense Receipts
112
Accrued Income
378 356      
Accounts Receivable
122 35 (Fixed Liabilities) 1,050,231 1,449,906
Loan Loss Reserves
(0)
DICJ Bonds
1,050,000 1,450,000
     
Discount on DICJ Bonds
201 (123)
(Fixed Assets) 1,583,877 1,588,109
Reserves for Retirement Allowance
29 29
Financial Assistance Related Assets
1,579,166 1,582,096      
Purchased Assets
1,604,872 1,614,855 (Liabilities Total) 1,861,644 1,879,810
Loan Loss Reserves
(25,705) (32,758)      
Tangible Fixed Assets
10 12 (Deficit) (273,770) (287,869)
Buildings
8 9
Deficit Brought Forward
(287,869) (299,735)
Tools/Equipment/Fixtures
2 3
Current Profit
14,099 11,865
Intangible Fixed Assets
0 0      
Investment and Other Assets
    (Net Assets Total) (273,770) (287,869)
Loan to Specified Contracted Bank
4,700 6,000      
Total 1,587,874 1,591,940 Total 1,587,874 1,591,940

Note: Figures are rounded off.

 

Profit and Loss Statement

(Unit:¥million)
Expenses Revenues
Item FY2011 (Reference)
FY2010
Item FY2011 (Reference)
FY2010
(Current Expenses) 43,294 50,212 (Current Revenue) 57,393 62,077
Administrative Expenses for Purchased Assets
7,451 5,787
Income from Operations for Purchased Assets
18,586 17,553
Loss on Sales of Purchased Assets
7,264 5,583
Income from Purchased Assets
16,427 15,560
Assets Purchasing Operation Expenses
102 102
Profit on Sales of Purchased Assets
2,159 1,992
Cost of Commissioning Management and Collection Business
85 101      
General Administrative Expenses
422 493
Transfer Payments by Specified Contracted Bank
5,993 5,556
Transfer to Loan Loss Reserves
25,705 32,758      
Non-Operating Expenses
9,713 11,173
Interest on Loans to Specified Contracted Bank
50 68
Interest on Borrowing
337 331
Reversal from Loan Loss Reserves
32,758 38,892
Interest on DICJ Bonds
9,051 10,038
Non-Operating Revenues
4 6
Administrative Expenses for DICJ Bonds
324 803      
           
(Extraordinary Expenses)          
Loss from Retirement of Fixed Assets 0 0      
           
(Current Total) 14,099 11,865      
Total 57,393 62,077 Total 57,393 62,077
Notes: 1. Current profit of ¥14,099 million is used to decrease loss brought forward from the previous fiscal year, pursuant to the provision of Article 25, paragraph 2 of the Ordinance of Enforcement of the Financial Revitalization Act.
2. Figures are rounded off.
 

The notes below refer to the items mentioned for the FY2011 settlement of accounts.

Important Accounting Principles and Other Relevant Matters

1. Evaluation Method for Securities
Cost method based on the periodic average method
2. Depreciation Method for Fixed Assets
Fixed installment method using the criteria under the Corporation Tax Act. The aggregate depreciation amount is as follows:
Tangible fixed assets ・26 million
3. Appropriation Criteria for Reserves
  (1)   Loan Loss Reserves
For claims related to failed debtors or debtors in damage of collapse as well as debtors who face or are highly likely to face serious problems in the repayment of debts although not yet in a state of business failure, the estimated amount recovered through collateral, etc., and the estimated amount recovered in light of debtors' financial status and business performance are reduced from the amount of the claim, and the remainder is aggregated.
Claims other than the above are aggregated on the basis of a bad debt ratio deemed reasonable.
  (2)   Reserves for Retirement Allowance
The required remuneration at the end of the fiscal year is used as the criteria for appropriating reserves in preparation for payment of retirement allowances for employees.
4. Other Important Matters relating to Preparation of Financial Statements
  (1) Accounting method for consumption tax: tax inclusive method
  (2) Depreciation Method of DICJ Bonds Issuing Cost
Discount in DICJ Bonds Issue: equal depreciation over the period up to the term of bond redemption
  (3) Appropriating Method of DICJ Bonds Issuing Cost
All the expenses are accounted for at the time of expenses.
  (4) Accounting criteria for revenue and expenses: accrual method
  (5) Other
Regarding payments by specified contracted banks under the provision of Article 53 of the Act on Emergency Measures for the Revitalization of the Financial Functions (Act No.132 of 1998), the DICJ received the payments statement prepared under the account settlement for FY2011 from the RCC (a specified contracted bank) on May 29, 2012. In the RCC, the payments are accounted for as expenses in FY2010, but in the DICJ, they are accounted for as revenue in the following fiscal year in accordance with the provision of Article 4, paragraph 2 of the Accounting Regulations. The amount of profit or loss arising from such accounting is estimated at ¥3,549 million in the following fiscal year.

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