Corrections to the Financial Section of Annual Report
for the Year Ended March 2010 (Based on US GAAP)
TOKYO, May 27, 2011….. Mitsubishi Corporation submitted today corrections
pertaining to certain items of its annual securities report for the year ended March 31,
2010.
These corrections also need to be reflected accordingly in the financial section of the
company’s Annual Report for the year ended March 31, 2010.
The financial section of the Annual Report was originally announced on June 24, 2010.
= Correction =
- Notes to Consolidated Financial Statements /
23. Leases page168
The corrected sections are indicated with an underline.
###
For further information contact:
Mitsubishi Corporation
Investor Relations Department
[email protected]
Previous Statement
Millions of Yen Millions of U.S. Dollars
Accumulated Accumulated
2010 Cost Depreciation Net Cost Depreciation Net
Buildings ................... ¥14,528 ¥ (7,027) ¥ 7,501 $157 $ (76) $ 81
Machinery ................... 24,664 (12,107) 12,557 265 (130) 135
Vessels and vehicles ........ 4,754 (2,768) 1,986 51 (30) 21
Equipment and fixtures ...... 17,030 (8,759) 8,271 183 (94) 89
Total ................. ¥60,976 ¥(30,661) ¥30,315 $656 $(330) $326
Future minimum lease payments under capital leases together with components of the present value of the
net minimum lease payments as of March 31, 2010 are as follows:
Millions of
Years Ending March 31: Millions of Yen U.S. Dollars
2011 ................................................................... ¥11,620 $125
2012 ................................................................... 10,340 111
2013 ................................................................... 8,510 92
2014 ................................................................... 6,637 71
2015 ................................................................... 4,911 53
2016 and thereafter .................................................... 21,858 235
Total minimum lease payments ........................................... 63,876 687
Less amount representing interest ...................................... (5,935) (64)
Present value of net minimum lease payments ............................ 57,941 623
Current capital lease obligations ................................. 10,620 114
Long-term capital lease obligations .................................... ¥47,321 $509
Minimum payments have not been reduced by minimum sublease revenues of ¥15,714 million ($169 million) due
in the future under subleases.
The Company leases office space and certain other assets under operating leases. Total rental expenses
under operating leases for the years ended March 31, 2008, 2009 and 2010 were ¥36,494 million, ¥44,553
million and ¥51,483 million ($554 million), respectively. Sublease rental income for the years ended March
31, 2008, 2009 and 2010 were ¥5,214 million, ¥3,837 million and ¥4,607 million ($50 million), respectively.
Future minimum lease payments under noncancelable leases as of March 31, 2010 are as follows:
Millions of
Years Ending March 31: Millions of Yen U.S. Dollars
2011 ................................................................... ¥ 46,571 $ 501
2012 ................................................................... 39,219 422
2013 ................................................................... 32,942 354
2014 ................................................................... 30,063 323
2015 ................................................................... 27,434 295
2016 and thereafter .................................................... 133,387 1,434
Total ............................................................ ¥309,616 $3,329
Minimum payments have not been reduced by minimum sublease rentals of ¥26,174 million ($281 million) due
in the future under noncancelable subleases.
Corrected Statement
Millions of Yen Millions of U.S. Dollars
Accumulated Accumulated
2010 Cost Depreciation Net Cost Depreciation Net
Buildings ................... ¥14,528 ¥ (7,027) ¥ 7,501 $157 $ (76) $ 81
Machinery ................... 24,664 (12,107) 12,557 265 (130) 135
Vessels and vehicles ........ 4,754 (2,768) 1,986 51 (30) 21
Equipment and fixtures ...... 17,030 (8,759) 8,271 183 (94) 89
Total ................. ¥60,976 ¥(30,661) ¥30,315 $656 $(330) $326
Future minimum lease payments under capital leases together with components of the present value of the
net minimum lease payments as of March 31, 2010 are as follows:
Millions of
Years Ending March 31: Millions of Yen U.S. Dollars
2011 ................................................................... ¥11,620 $125
2012 ................................................................... 10,340 111
2013 ................................................................... 8,510 92
2014 ................................................................... 6,637 71
2015 ................................................................... 4,911 53
2016 and thereafter .................................................... 21,858 235
Total minimum lease payments ........................................... 63,876 687
Less amount representing interest ...................................... (5,935) (64)
Present value of net minimum lease payments ............................ 57,941 623
Current capital lease obligations ................................. 10,620 114
Long-term capital lease obligations .................................... ¥47,321 $509
Minimum payments have not been reduced by minimum sublease revenues of ¥15,714 million ($169 million) due
in the future under subleases.
The Company leases office space and certain other assets under operating leases. Total rental expenses
under operating leases for the years ended March 31, 2008, 2009 and 2010 were ¥36,494 million, ¥44,553
million and ¥51,483 million ($554 million), respectively. Sublease rental income for the years ended March
31, 2008, 2009 and 2010 were ¥5,214 million, ¥3,837 million and ¥4,607 million ($50 million), respectively.
Future minimum lease payments under noncancelable leases as of March 31, 2010 are as follows:
Millions of
Years Ending March 31: Millions of Yen U.S. Dollars
2011 ................................................................... ¥ 39,832 $ 428
2012 ................................................................... 32,422 349
2013 ................................................................... 26,141 281
2014 ................................................................... 23,132 249
2015 ................................................................... 20,633 222
2016 and thereafter .................................................... 103,965 1,118
Total ............................................................ ¥246,125 $2,647
Minimum payments have not been reduced by minimum sublease rentals of ¥26,174 million ($281 million) due
in the future under noncancelable subleases.
