Toyota 2015 Annual Report Download - page 179

TOYOTA MOTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was not
material at March 31, 2014, 2015 and 2016, 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), net”. The
amounts of interest and penalties accrued as of and recognized for the years ended March 31, 2014, 2015 and
2016, were not material.
Toyota remains subject to income tax examination for the tax returns related to the years beginning on and
after April 1, 2009 and January 1, 2000, with various tax jurisdictions in Japan and foreign countries,
respectively.
16. Class Shares:
Toyota Motor Corporation (“TMC”) issued First Series Model AA Class Shares (the “Model AA Class
Shares”) on July 24, 2015. Presented below is additional information regarding the Model AA Class Shares:
Total number of shares issued : 47,100,000 shares
Issue price : 10,598 yen per share
Purchase price : 10,121.09 yen per share
Voting rights : Model AA Class Shares shall have voting rights. The number of
shares constituting one unit with respect to Model AA Class Shares
shall be 100.
Restrictions on transfer : Model AA Class Shares shall have restrictions on transfer.
Dividends : (1) If the record date falls in the fiscal year ending on March 31,
2016 : 0.5% of the issue price
(2) If the record date falls in the fiscal year ending on March 31,
2017 through March 31, 2020 : the annual dividend rate for
the previous fiscal year plus 0.5% of the issue price
(3) If the record date falls in the fiscal year ending on March 31,
2021 or later : 2.5% of the issue price
Shareholder’s right : (1) Shareholder’s conversion right into Common Shares
Shareholders of the Model AA Class Shares may demand
TMC to acquire all or a part of their Model AA Class Shares
in exchange for Common Shares on the first business day of
April and October of every year, starting October 1, 2020.
(2) Shareholder’s cash put option
Shareholders of the Model AA Class Shares may demand
TMC to acquire all or a part of their Model AA Class Shares
in exchange for cash on the last business day of March, June,
September and December of each year, starting on
September 1, 2020.
TMC’s right : TMC may acquire, on or after April 2, 2021, all of the outstanding
Model AA Class Shares in exchange for cash.
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