Note 13 - Lease Arrangements

12 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Commitments Disclosure [Text Block]

13. LEASE ARRANGEMENTS

The Company has operating lease commitments for office equipment and some of its office and maintenance facilities. Refer to “Item

2.

Properties” for a summary of the Company’s current operating lease commitments.

At

March 31, 2019,

future minimum annual lease payments (foreign currency amounts translated using applicable

March 31, 2019

exchange rates) are as follows:

Year ended March 31,
2020	$	3,133,000
2021		2,115,000
2022		1,625,000
2023		1,241,000
2024		692,000
Thereafter		6,267,000
Total minimum lease payments	$	15,073,000

The Company’s rent expense excluding Delphax for operating leases totaled approximately

$4,564,000

and

$4,520,000

for fiscal

2019

and

2018,

respectively, and includes amounts to related parties of

$201,000

and

$337,000

in fiscal

2019

and

2018,

respectively. Delphax’s rent expense totaled

$13,000

and

$95,000

for fiscal

2019

and

2018,

respectively.