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## 23. Transactions with related parties 

The information on subsidiaries’ material transactions with related parties and individuals for the years ended March 31, 2012 and 2011, and the resulting account balances with such related party at the balance sheet dates are as follows: 

<img src='content_image/186820.jpg'>

The Company has 17.43% of direct voting rights for Totan Holdings Co., Ltd. which is the parent company of Tokyo Tanshi Co., Ltd. 

## 24. Special purpose entities subject to disclosure 

Some consolidated subsidiaries utilized 6 special purpose entities for the year ended March 31, 2012 (6 for year ended March 31, 2011) principally for the securitization of structured notes in order to sup- port securitization of monetary assets of customers. Those consoli- dated subsidiaries acquire and transfer bonds to those special purpose entities (incorporated in the Cayman Islands) and issue structured notes collateralized by those bonds. The Company and 

consolidated companies do not own any shares with voting rights in any of these special purpose entities and have not dispatched any director or employee to them. Notes issued by those special purpose entities subject to disclosure as of the fiscal year ended March 31, 2012 and 2011 are ¥405,374 million ($4,943,585 thousand) and ¥233,649 million, respectively. 

