- 6 - On several occasions, from June of 1985 through November of 1987, operating receipts of Nihon Intergraph in the total cumulative amount of �151,657,808 were deposited into Nihon Intergraph's checking account at Citibank Tokyo thereby reducing the balance of Nihon Intergraph's overdraft amount. In essence, the overdraft privilege on Nihon Intergraph’s checking account at Citibank Tokyo operated as a short-term line of credit for Nihon Intergraph. In 1985, 1986, and 1987, Nihon Intergraph did not perform as well as expected and incurred net operating losses. By the end of 1987, the overdraft amount, including principal and interest, had increased to �823,943,385 ($4,561,066). The chart below reflects for 1985, 1986, and 1987 Nihon Intergraph’s gross receipts, net losses, and the incremental increase that occurred each year in the yen and historical dollar equivalent balance of the overdraft amount. Increase in Balance of Gross Overdraft Amount Year Receipts Net Loss Yen Dollar* 1985 $ 823,000 $ 1,535,000 �361,572,000 $1,631,724 1986 1,194,000 4,354,000 341,884,041 2,094,214 1987 226,000 2,146,000 120,487,344 835,128 Total $2,243,000 $8,035,000 �823,943,385 $4,561,066 * The dollar equivalent amounts reflected in this chart reflect historical dollar-yen exchange rates as they existed at the end of each year or at the end of each month in which an increase in the overdraft amount occurred, not the dollar equivalent based on the Dec. 23, 1987, exchange rate.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011