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TOYOTA ANNUAL REPORT 2012
Toyota Global Vision Changes for Making
Ever-Better Cars President
ʼ
s Message Medium- to Long-Term
Growth Initiatives Special Feature Management and
Corporate Information Investor Information
Business and
Performance Review Financial Section
Notes to Consolidated Financial Statements
A summary of the gross unrecognized tax benefits changes for the years ended March 31, 2010,
2011 and 2012 is as follows:
Yen in millions
U.S. dollars in millions
For the years ended March 31,
For the year ended
March 31,
2010 2011 2012 2012
Balance at beginning of year ¥ 46,803 ¥ 23,965 ¥ 15,453 $ 188
Additions based on tax positions related to
the current year 2,702 213 4,187 51
Additions for tax positions of prior years 6,750 12,564 10,801 131
Reductions for tax positions of prior years
(
2,802
)(
16,133
)(
363
) (
4
)
Reductions for tax positions related to
lapse of statute of limitations
(
106
)—
̶
̶
Reductions for settlements
(
27,409
)(
2,794
)(
12,820
) (
156
)
Other
(
1,973
)(
2,362
)(
357
) (
4
)
Balance at end of year ¥ 23,965 ¥ 15,453 ¥ 16,901 $ 206
For the years ended March 31,
2010 2011 2012
Common stock issued
Balance at beginning of year 3,447,997,492 3,447,997,492 3,447,997,492
Issuance during the year
—
—
̶
Purchase and retirement
—
—
̶
Balance at end of year 3,447,997,492 3,447,997,492 3,447,997,492
The amount of unrecognized tax benefits
that, if recognized, would affect the effective tax
rate was not material at March 31, 2010, 2011
and 2012, respectively. Toyota does not believe
it is reasonably possible that the total amounts
of unrecognized tax benefits will significantly
increase or decrease within the next twelve
months.
Interest and penalties related to income tax
liabilities are included in
“
Other income
(
loss
)
,
The Companies Act provides that an amount
equal to 10% of distributions from surplus paid by
the parent company and its Japanese subsidiaries
be appropriated as a capital reserve or a retained
earnings reserve. No further appropriations are
required when the total amount of the capital
reserve and the retained earnings reserve
reaches 25% of stated capital.
The retained earnings reserve included
in retained earnings as of March 31, 2011 and
2012 was ¥171,062 million and ¥173,711 million
(
$2,114 million
)
, respectively. The Companies Act
provides that the retained earnings reserve of the
parent company and its Japanese subsidiaries
is restricted and unable to be used for dividend
payments, and is excluded from the calculation
of the profit available for dividend.
The amounts of statutory retained earnings
of the parent company available for dividend
payments to shareholders were ¥5,389,432
million and ¥5,348,279 million
(
$65,072 million
)
as of March 31, 2011 and 2012, respectively. In
accordance with customary practice in Japan,
net
”
. The amounts of interest and penalties
accrued as of and recognized for the years ended
March 31, 2010, 2011 and 2012, respectively, were
not material.
Toyota remains subject to income tax
examination for the tax returns related to the
years beginning on and after April 1, 2005 and
January 1, 2000, with various tax jurisdictions in
Japan and foreign countries, respectively.
the distributions from surplus are not accrued
in the financial statements for the corresponding
period, but are recorded in the subsequent
accounting period after shareholders
ʼ
approval
has been obtained. Retained earnings at March
31, 2012 include amounts representing year-end
cash dividends of ¥95,004 million
(
$1,156 million
)
,
¥30
(
$0.37
)
per share, which were approved at the
Ordinary General Shareholders
ʼ
Meeting, held on
June 15, 2012.
Retained earnings at March 31, 2012 include
¥1,477,165 million
(
$17,973 million
)
relating to
equity in undistributed earnings of companies
accounted for by the equity method.
On June 24, 2008, at the Ordinary General
Shareholders
ʼ
Meeting, the shareholders of the
parent company approved to purchase up to 30
million shares of its common stock at a cost up
to ¥200,000 million during the purchase period
of one year from the following day. As a result,
the parent company repurchased approximately
14 million shares during the approved period of
time. These approvals by the shareholders are
Shareholders' equity: 17
Changes in the number of shares of common stock issued have resulted from the following:
0820
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