(3) Jusen Account

Balance Sheet

(Unit: million yen)
Assets Liabilities and Net Assets
Item March 31, 2011 Item March 31, 2011
(Current Assets) 5,069 (Current Liabilities) 456,620
Cash and Deposits
59
Accounts Payable
456,578
Short-term Loans
-
Advance Payments Received
42
Securities
5,009    
Accrued Income
0 (Fixed Liabilities) 870,132
Accounts Receivable
-
Reserves for Retirement Allowance
20
   
Repayable Payments Received from Bank of Japan
100,000
(Fixed Assets) 1,878,158 Charges against Assets Allotted in Operation 111
Tangible Fixed Assets
28 Loan Guarantees 770,000
Buildings
27    
Tools/Equipment/Fixtures
0 (Statutory Reserves)  
Intangible Fixed Assets
1
Financial Stabilization Fund
1,008,046
Investment and Other Assets
1,878,128
Counterpart of Private-Sector Contributions
1,007,000
Assets Relating to Financial Stabilization Fund
908,046
Counterpart of Operating Income
1,046
Shares of Affiliated Companies
200,000    
Guarantee Money and Other Security Deposit
81 (Liabilities Total) 2,334,799
Per contra on Loan Guarantees
770,000    
    (Capital)  
   
Government Capital
5,000
       
    (Deficit) (456,571)
   
Deficit Brought Forward
(432,708)
   
Current Deficit
(23,863)
       
    (Net Assets Total) (451,571)
       
Total 1,883,227 Total 1,883,227

Note: Figures are rounded down.

 

Profit and Loss Statement

(Unit: million yen)
Expenses Revenue
Item FY2010 Item FY2010
(Current Expenses) 31,785 (Current Revenue) 7,921
Grant For Claim Resolution Company
 
Income from Investment
 
       
Operation Promotion Company
27,847
Income from Investment of Financial
 
   
Stabilization Fund
3,572
General Administrative Expenses
365
Income from Special Operations Contributions
306
Transfer to Financial Stabilization Fund
3,572
Reversal from Financial Stabilization Fund
3,984
   
Non-Operating Income
32
   
Reversal from Charge Against Assets
25
       
(Extraordinary Expenses)      
Loss from Retirement of Fixed Assets
0 (Current Deficit) 23,863
       
Total 31,785 Total 31,785
 

The notes below refer to the items mentioned for the FY2010 settlement of accounts.

Notes: 1. Current deficit of¥ 23,863 million is carried forward to the next fiscal year, pursuant to the provisions of Article 5, Paragraph 2 of the Ordinance of Enforcement of the Jusen 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: ¥73 million

3.  Appropriation Criteria for Reserves
(1)  Reserves for Retirement Allowance
The required remuneration at the end of the fiscal year is used as the criterion for appropriating reserves in preparation for payment of retirement allowances for employees.
(2)  Financial Stabilization Contributor Fund
In order to allocate the money to fund the claim resolution company and provide subsidies to help ensure its smooth operation, the financial stabilization contribution fund includes contributions from financial institutions who were investors or creditors of specific Jusen companies, pursuant to the provision of Article 9, paragraph 2 of the Jusen Act.
4.  Other Important Matters Relating to Preparation of Financial Statements

(1)  Accounting method for consumption tax: tax inclusive method

(2)  Accounting criteria for revenue and expenses: accrual method

(3)  Others

Regarding the granting of a subsidy to the claim resolution company under the provision of Article 10 of the Jusen Act, the DICJ received the application for grant prepared under the accounts settlement for FY2010 from the RCC, a claim resolution company, on May 16, 2011. In the RCC, the grant is accounted for as revenue in FY2010, but in the DICJ, it is accounted for as expenses in the following fiscal year in accordance with the provisionof Article 4, paragraph 2 of the Accounting Regulations. The amount of profit or loss which could arise from such accounting is estimated at ¥38,225 million in the following fiscal year.

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