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70 Seiko Epson Corporation
These forward exchange contracts were entered into for hedging purposes. Unrealized gains and losses from
these contracts are recognized in earnings. Forward exchange contracts assigned individually to monetary items
denominated in foreign currencies are excluded from the above table.
There were no interest rate swap transactions outstanding at March 31, 2006 and 2007, other than derivatives
eligible for hedge accounting.
9. Short-term borrowings and long-term debt
Short-term borrowings and long-term debt at March 31, 2006 and 2007 comprised the following:
Thousands of
Millions of yen U.S. dollars
March 31 March 31,
2006 2007 2007
Average
Amount Amount interest rate Last due Amount
Short-term borrowings ¥ 49,804 ¥37,498 1.27% 2007 $ 317,645
Current portion of long-term debt 113,731 96,364 1.33 2008 816,298
Long-term debt from financial institutions 212,859 190,046 1.29 2012 1,609,877
Unsecured bonds issued by the Company 30,000 30,000 1.05 2010 254,130
Unsecured bonds issued by the Company 20,000 20,000 1.44 2012 169,419
Unsecured bonds issued by the Company — 30,000 1.65 2011 254,130
Unsecured convertible bonds issued by
asubsidiary, convertible at ¥425 ($3.60) 2,700 —— — —
Total ¥429,094 ¥403,908 $3,421,499
Average interest rates are calculated using weighted-average interest rates as at March 31, 2007.
The maturities of long-term debt outstanding as at March 31, 2007 were as follows:
Thousands of
Year ending March 31 Millions of yen U.S. dollars
2008 ¥96,364 $ 816,298
2009 62,759 531,631
2010 31,822 269,564
2011 82,071 695,222
2012 73,394 621,719
Thereafter 20,000 169,420
Total ¥366,410 $3,103,854
As at March 31, 2007, the Company had line-of-credit agreements with eleven banks for an aggregate
maximum amount of ¥80,000 million ($677,679 thousand). As at March 31, 2007, there were unused credit lines of
¥50,000 million ($423,549 thousand) outstanding and available.