Mazda 2014 Annual Report Download - page 56

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SHORT-TERM DEBT AND LONG-TERM DEBT
Short-term debt as of March 31, 2014 and 2013 consisted of loans, principally from banks
with interest averaging 1.39% and 1.04% for the respective years.
Long-term debt as of March 31, 2014 and 2013 consisted of the following:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2014 2013 2014
Domestic unsecured bonds due serially 2014
through 2016 at rate of 0.35% to 1.87% per annum ¥ 40,550(*) ¥ 50,650 $ 393,689
Loans principally from banks, maturing through 2072:
Secured loans 81,004 93,605 786,447
Unsecured loans 510,938 471,028 4,960,563
Lease obligations, maturing through 2021 4,960 5,867 48,155
Sub total 637,452 621,150 6,188,854
Amount due within one year (109,715) (104,270) (1,065,194)
Total ¥ 527,737 ¥ 516,880 $ 5,123,660
(*) As of March 31, 2014, certain of these unsecured bonds amounting to ¥550 million ($5,340 thousand) are bank-guaran-
teed under the condition that assets are pledged to the bank as collateral by the issuer of the bonds.
The annual interest rates applicable to long-term loans and lease obligations out-
standing averaged 1.29% and 1.95%, respectively, for obligations due within one year and
1.89% and 2.01%, respectively, for obligations due after one year at March 31, 2014.
The annual interest rates applicable to long-term loans and lease obligations out-
standing averaged 1.62% and 2.26%, respectively, for obligations due within one year and
1.91% and 2.17%, respectively, for obligations due after one year at March 31, 2013.
As is customary in Japan, general agreements with banks include provisions that secu-
rity and guarantees will be provided if requested by banks. Banks have the right to offset
cash deposited with them against any debt or obligation that becomes due and, in the case
of default or certain other specified events, against all debts payable to banks.
The annual maturities of long-term debt at March 31, 2014 were as follows:
Year ending March 31 Millions of yen
Thousands of
U.S. dollars
2015 ¥109,715 $1,065,194
2016 93,267 905,505
2017 133,808 1,299,107
2018 85,603 831,097
2019 90,614 879,748
Thereafter 124,445 1,208,203
Total ¥637,452 $6,188,854
The assets pledged as collateral for short-term debt of ¥30,412 million ($295,262 thou-
sand) and ¥36,631 million, and long-term debt of ¥81,554 million ($791,786 thousand) and
¥94,255 million at March 31, 2014 and 2013, respectively, were as follows:
Millions of yen
Thousands of
U.S. dollars
As of March 31 2014 2013 2014
Property, plant and equipment, at net book value ¥396,511 ¥406,154 $3,849,621
Inventories 70,739 72,538 686,786
Other 63,247 91,150 614,049
Total ¥530,497 ¥569,842 $5,150,456
10 EMPLOYEES’ SEVERANCE AND RETIREMENT BENEFITS
The Group has contributory defined contribution plans and defined benefit plans, and non-
contributory defined benefit plans. For the accounting policies for retirement benefits, refer
to Note 2, “Employees’ severance and retirement benefits”.
(1) Detailed notes relating to defined benefit plan for the year ended March 31, 2013
The liability for severance and retirement benefits as of March 31, 2013 consisted of
the following:
Millions of yen
2013
Retirement benefit obligations ¥ 300,322
Plan assets (210,382)
Actuarial gains and losses that are yet to be recognized (30,620)
Past service costs that are yet to be recognized 9,400
Prepaid pension cost 1,070
Liability for severance and retirement benefits ¥ 69,790
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Mazda Annual Report 2014
CONTENTS
Foundations Underpinning
Sustainable Growth
Financial Section
Review of Operations
Message from Management
Introduction
Brand Value Management