(4) Financial Revitalization Account

Balance Sheet

(Unit: million yen)
Assets Liabilities and Net Assets
Item March 31, 2011 Item March 31, 2011
(Current Assets) 3,831 (Current Liabilities) 429,904
Cash and Deposits
94
Short-term Borrowings
229,400
Short-term Loans
1,972
DICJ Bonds (due for redemption within 1 year)
200,000
Money Deposited
1,355
Discount on DICJ Bonds (due for redemption within 1 year)
(29)
Securities
-
Accounts Payable
112
Suspense Payments
22
Accrued Expenses Payable
280
Prepaid Expenses
15
Advance Payments Received
28
Accrued Income
356
Suspense Receipts
112
Accounts Receivable
35    
Loan Loss Reserves
(0) (Fixed Liabilities) 1,449,906
   
DICJ Bonds
1,450,000
(Fixed Assets) 1,588,109
Discount on DICJ Bonds
(123)
Financial Assistance Related Assets
1,582,096
Reserves for Retirement Allowance
29
Purchased Assets
1,614,855    
Loan Loss Reserves
(32,758) (Liabilities Total) 1,879,810
Tangible Fixed Assets
12    
Buildings
9 (Deficit) (287,869)
Tools/Equipment/Fixtures
3
Deficit Brought Forward
(299,735)
Intangible Fixed Assets
0
Current Profit
11,865
Investment and Other Assets
6,000    
Loan to Specified Contracted Bank
6,000 (Net Assets Total) (287,869)
Guarantee Money and Other Security Deposits
-    
       
Total 1,591,940 Total 1,591,940

Note: Figures are rounded down.

 

Profit and Loss Statement

(Unit: million yen)
Expenses Revenues
Item FY2010 Item FY2010
(Current Expenses) 50,212 (Current Revenue) 62,077
Administrative Expenses for Purchased Assets
5,787
Income from Operations for Purchased Assets
17,553
Loss on sales of Purchased Assets
5,583
Income from Purchased Assets
15,560
Assets Purchasing Operation Expenses
102
Profit on Sales of Purchased Assets
1,992
Cost of Commissioning Management and Collection Business
101
Transfer payments by specified Contracted Bank
5,556
Compensation for Purchased Asset Losses
-
Interest on Loans to Specified Contracted Bank
68
General Administrative Expenses
493
Reversal from Loan Loss Reserves
38,892
Transfer to Loan Loss Reserves
32,758
Non-operating Revenues
6
Non-Operating Expenses
11,173    
Interest on Borrowings
331    
Interest on DICJ Bonds
10,038    
Administrative Expenses for DICJ Bonds
803    
       
(Extraordinary Expenses)      
Loss from Retirement of Fixed Assets
0    
       
(Current Profit) 11,865    
       
Total 62,077 Total 62,077
The notes below refer to the items mentioned for the FY2010 settlement of accounts.
Notes: 1.  Current profit of  ¥11,865 million is used to decrease loss brought forward from the previous fiscal year, pursuant to the provision ofArticle 25 paragraph 2 of the Ordinance of Enforcement of the Financial Revitalization Act.
2.  Figures are rounded down
 
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: ¥24 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)  Depreciation Method of DICJ Bonds Issuing Cost
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 Bond 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 Financial Revitalization Act, the DICJ received the payments statement prepared under the account settlement for FY2010 from the RCC (a specified contracted bank) on May 31, 2011. 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 ¥5,993 million in the following fiscal year.

Top of Page