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Fujitsu annual report 1998
36
Financial Section
Notes to Consolidated Financial Statements
Of the affiliates which are accounted for on an equity basis, the
carrying and market values of the shares of the publicly listed
companies at March 31, 1997 and 1998 were as follows:
Yen U.S. dollars
(millions) (thousands)
1997 199 8 1 998
Carrying value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 284,177 ¥ 256,35 6 $1,94 2 ,091
Market value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 572,075 646 ,212 4,895,545
At March 31, 1997 and 1998, the amount of ¥ 19,373 million
($146,765 thousand) representing the Company’s 29.49% invest-
ment in JECC was included in investments and long-term loans—
other. The Company does not regard JECC as an affiliate as it is
unable to exercise significant influence over JECC’s affairs. JECC’s
principal business is the leasing of computers and peripheral
computer equipment which it purchases from its seven shareholders.
At March 31, 1997 and 1998, JECC’s issued share capital was
¥ 65,700 million ($497,727 thousand). Its net sales for the years
ended March 31, 1996, 1 997 and 1998 amounted to ¥ 315,536
million, ¥ 305,221 million and ¥ 299,269 million ($2,267,189
thousand), respectively.
7. Other assets
At March 31, 1997 and 1998, other assets principally con-
sisted of goodwill of ¥ 137,667 million and ¥ 2 31,267 million
($1,752,023 thousand), respectively.
8. Short-term borrowings and long-term debt
Short-term borrowings at March 31, 1997 and 1998 consisted of:
Yen U.S. dollars
(millions) (thousands)
1997 199 8 1 998
Loans, principally from banks, at interest rates ranging from 0.58% to 7.75%
at March 31, 1997, and from 0.81% to 8 .41 % at March 31, 1998:
Secured . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 3,425 ¥ 9,113 $ 69,038
Unsecured . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 573,306 572,194 4,334,803
Commercial paper at interest rates ranging from 0 .56% to 6.30%
at March 31, 1997, and from 0.50% to 7 .95 % at March 31, 1998 . . . . . . . 88,656 80,550 61 0 ,227
¥665,387 ¥ 6 6 1,857 $5,014,068