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## 11. Income Taxes 

The Group is subject to a number of different income taxes. The applicable statutory tax rates in Japan for the years ended March 31, 1998, 1999, and 2000 were, in the aggregate, approximately 51%, 47%, and 42%, respectively. 

The components of income taxes are as follows: 

<img src='content_image/98501.jpg'>

A reconciliation of the differences between the reported total income tax rate and applicable statutory income tax rate for the year ended March 31, 2000 is as follows: 

<img src='content_image/98503.jpg'>

The significant components of deferred tax assets and liabilities at March 31, 1999 and 2000 are as follows: 

<img src='content_image/98504.jpg'>

Net deferred tax assets (liabilities) are included in the consolidated balance sheets as follows: 

<img src='content_image/98505.jpg'>

