AKEBONO REPORT 2016

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Economic ReportMillions of YenThousands of U.S. Dollars (Note)201620152016LIABILITIES AND NET ASSETS Notes and accounts payable—trade¥ 28,960 ¥ 29,602 $ 257,012 Short-term loans payable21,416 21,266 190,060 Current portion of bonds- 15,000 0 Current portion of long-term loans payable16,257 16,538 144,275 Lease obligations581 466 5,153 Income taxes payable641 444 5,686 Accrued expenses8,523 6,733 75,638 Deferred tax liabilities0 -1 Provision for bonuses1,656 1,737 14,694 Notes payable—facilities1,526 3,345 13,539 Provision for business structure improvement519-4,603 Other4,476 5,348 39,722 Current liabilities84,553 100,480 750,382 Long-term loans payable76,894 50,403 682,412 Long-term accounts payable—other575 653 5,104 Lease obligations4,607 4,489 40,888 Provision for director’s retirement benets28 26 250 Net dened benet liabilities2,254 2,269 20,006 Deferred tax liabilities777 4,259 6,893 Deferred tax liabilities for land revaluation3,155 3,324 28,001 Other1,457 72 12,927 Noncurrent liabilities89,747 65,495 796,480 Total Liabilities174,300 165,975 1,546,862 Capital stock19,939 19,939 176,956 Capital surplus12,971 12,978 115,117 Retained earnings(19,373)754 (171,931) Treasury stock(1,980)(1,993)(17,569)Shareholders’ equity11,558 31,678 102,573 Valuation difference on available-for-sale securities3,291 10,606 29,204 Revaluation reserve for land6,741 6,572 59,824 Foreign currency translation adjustment3,307 4,725 29,352 Remeasurements of dened benet plans(1,090)319 (9,676)Accumulated other comprehensive income12,249 22,222 108,705 Subscription rights to shares240 248 2,129 Non-controlling interests6,057 5,771 53,750 Total net assets30,103 59,919 267,157 Total liabilities and net assets¥204,404 ¥225,894 $1,814,019 44AKEBONO REPORT 2016