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14. Derivative Financial Instruments
1. Derivative transactions which do not qualify for hedge accounting
<Currency-related transactions>
Yen
(millions)
U.S. Dollars
(thousands)
At March 31, 2010
Contract
Amount
Contract
Amount
Over 1 Year Fair Value Gain/Loss
Contract
Amount
Contract
Amount
Over 1 Year Fair Value Gain/Loss
Foreign Exchange
Forward Contracts
To buy foreign currencies
U.S. Dollars ¥44,928 ¥14,687 ¥ (501) ¥ (501) $483,097 $157,925 $ (5,387) $ (5,387)
Euro 22,007 4,294 550 550 236,634 46,172 5,914 5,914
Other currencies 2,686 465 6 6 28,882 5,000 65 65
To sell foreign currencies
U.S. Dollars 28,579 5,118 (1,604) (1,604) 307,301 55,032 (17,247) (17,247)
Euro 5,407 2,583 (17) (17) 58,140 27,774 (183) (183)
Other currencies 4,911 — (67) (67) 52,806 — (721) (721)
Foreign Exchange
Options Contracts
To buy options
U.S. Dollars puts 1,737 — 18,677 —
<23> <—> 47 24 <247> <—> 505 258
To sell options
U.S. Dollars calls 1,737 — 18,677 —
<(23)> <—> (8) 15 <(247)> <—> (86) 161
Foreign Exchange Swap Contracts
Receive Pound Sterling 17,820 — (456) (456) 191,613 — (4,903) (4,903)
Pay Pound Sterling 27,753 — 392 392 298,419 — 4,215 4,215
Others 14,896 — 101 101 160,172 — 1,086 1,086
Total ¥(1,557) ¥(1,557) $(16,742) $(16,742)
1) The method for estimating the fair value is principally based on obtaining quotes from the financial institutions signing the contracts.
2) Regarding some of the foreign exchange forward contracts, the Company previously presented the fair value of the contract amount. However, from the fiscal year
ended March 31, 2010, the Company presents the difference between the fair value and the contract amount. This change is made in conjunction with the application
of “Implementation Guidance on Disclosures about Fair Value of Financial Instruments” (Accounting Standards Board of Japan Guidance No. 19 dated March 10, 2008)
and in order to maintain consistency with “2. Fair value of financial instruments.”
3) Collateral conditions are attached to some foreign exchange forward contracts, and there is the possibility of change in contract amount and duration due to the
fluctuation of the currency exchange rate.
4) In the column “Contract Amount,” option premiums are disclosed in brackets < >, and corresponding fair value and valuation gains and losses are disclosed on the
same line.
117
FUJITSU LIMITED Annual Report 2010
Notes to Consolidated
Financial Statements