Annual Report 2012


>> P.57

THEEURO-YENZEROCOUPONCONVERTIBLEBONDSWITHSTOCKACQUISITIONRIGHTSDUE2013ARECONVERTIBLEAT¥851($10.35)PERSHARESUBJECTTOADJUSTMENTFORCERTAINEVENTSINCLUDINGSTOCKSPLITS.IFALLOFTHEEURO-YENZEROCOUPONCONVERTIBLEBONDSOUTSTANDINGATMARCH31,2012HADBEENCONVERTEDATTHEABOVECONVERSIONPRICE,29,960THOUSANDNEWSHARESOFCOMMONSTOCKWOULDHAVEBEENISSUABLE.THEAGGREGATEANNUALMATURITIESOFLONG-TERMDEBTSUBSEQUENTTOMARCH31,2012ARESUMMARIZEDASFOLLOWS:YEARENDINGMARCH31,MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS2013¥62,747$763,438201490,5531,101,7522015117,6611,431,573201639,477480,314201756,266684,5842018ANDTHEREAFTER176,7792,150,858TOTAL¥543,483$6,612,519ASUMMARYOFASSETSPLEDGEDASCOLLATERALATMARCH31,2012FORSHORT-TERMLOANSANDTHECURRENTPORTIONOFLONG-TERMLOANSINTHEAMOUNTOF¥30,388MILLION($369,729THOUSAND),LONG-TERMLOANSOF¥267,986MILLION($3,260,567THOUSAND)ANDLOANSTOBEINCURREDINTHEFUTUREISPRESENTEDBELOW:MILLIONSOFYENTHOUSANDSOFU.S.DOLLARSVESSELSATNETBOOKVALUE¥370,465$4,507,422BUILDINGSANDSTRUCTURESATNETBOOKVALUE10,360126,049LAND4,67956,929INVESTMENTSINSECURITIES4,65756,661OTHER1742,118TOTAL¥390,335$4,749,179INVESTMENTSINSECURITIESOF¥4,657MILLION($56,661THOUSAND)WEREPLEDGEDASCOLLATERALTOSECUREFUTURELOANSFORINVESTMENTSINVESSELSANDEQUIPMENTOFSUBSIDIARIESANDAFfiLIATES.THEREFORE,NOCORRE-SPONDINGLIABILITIESEXISTEDASOFMARCH31,2012.OUTOFVESSELSATNETBOOKVALUEOF¥370,465MILLION($4,507,422THOUSAND)ABOVE,¥4,916MILLION($59,813THOUSAND)WASPLEDGEDASCOLLATERALFORENTRUSTEDGUARANTEES.8.INCOMETAXESTHECOMPANYANDITSDOMESTICCONSOLIDATEDSUBSIDIARIESARESUBJECTTOANUMBEROFTAXESBASEDONINCOME,WHICH,INTHEAGGREGATE,RE-SULTEDINASTATUTORYTAXRATEOFAPPROXIMATELY37.6%FORTHEYEARSENDEDMARCH31,2012AND2011.ARECONCILIATIONBETWEENTHESTATUTORYTAXRATEANDTHEEFFECTIVETAXRATEASAPERCENTAGEOFINCOMEBEFOREINCOMETAXESANDMINORITYINTER-ESTSFORTHEYEARENDEDMARCH31,2012HASBEENOMITTEDBECAUSEALOSSBEFOREINCOMETAXESANDMINORITYINTERESTSWASRECORDED.ARECONCILIATIONBETWEENTHESTATUTORYTAXRATEANDTHEEFFECTIVETAXRATEASAPERCENTAGEOFINCOMEBEFOREINCOMETAXESANDMINORITYINTERESTSFORTHEYEARENDEDMARCH31,2011HASBEENOMITTEDBE-CAUSETHEDIFFERENCEBETWEENTHESETAXRATESWASLESSTHAN5%OFTHESTATUTORYTAXRATE.7.SHORT-TERMLOANS,COMMERCIALPAPERANDLONG-TERMDEBTSHORT-TERMLOANSFROMBANKSANDINSURANCECOMPANIESPRINCIPALLYREPRESENTLOANSONDEEDSWITHAVERAGEINTERESTRATESOF0.72PERCENTAND0.69PERCENTPERANNUMATMARCH31,2012AND2011,RESPECTIVELY.COMMERCIALPAPERHADANAVERAGEINTERESTRATEOF0.14PERCENTPERANNUMATMARCH31,2012.LONG-TERMDEBTATMARCH31,2012AND2011CONSISTEDOFTHEFOLLOWING:MILLIONSOFYENTHOUSANDSOFU.S.DOLLARS201220112012LOANSFROMBANKSANDINSURANCECOMPANIESDUEININSTALLMENTSFROMAPRIL2012THROUGHDECEMBER2028ATAVERAGEINTERESTRATESOF1.06PERCENTAND1.16PERCENTPERANNUMATMARCH31,2012AND2011,RESPECTIVELY¥468,532¥379,120$5,700,595EURO-YENZEROCOUPONCONVERTIBLEBONDSWITHSTOCKACQUISITIONRIGHTSINYEN,DUEAPRIL4,201325,49625,496310,2081.48PERCENTBONDSINYEN,DUEDECEMBER14,2011—15,000—1.83PERCENTBONDSINYEN,DUEAPRIL14,201415,00015,000182,5041.46PERCENTBONDSINYEN,DUEJUNE19,201430,00030,000365,008BONDSINYEN,INTERESTRATEINDEXEDTOTIBOR,DUEJULY16,20194,4554,83354,204TOTAL543,483469,4496,612,519LESS:CURRENTPORTION(62,747)(62,017)(763,438)¥480,736¥407,432$5,849,08157ANNUALREPORT2012


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