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7. Short-Term Loans Payable, Long-Term Debt and
Lease Obligations
Short-term loans payable at March 31, 2015 and 2014 consisted of
the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Loans, principally from banks ¥90,907 ¥121,074 $756,493
The weighted average interest rates of short-term loans payable
at March 31, 2015 and 2014 were 1.4% and 1.6%, respectively.
Long-term debt at March 31, 2015 and 2014 consisted of
the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Loans, principally from banks
and insurance companies,
due through 2023 at
weighted average interest
rates averaging 2.2% in
2015 and 3.0% in 2014:
Secured ¥ 34,114 ¥ 39,248 $ 283,881
Unsecured 19,443 62,035 161,800
53,557 101,283 445,681
Less current portion (27,643) (32,611) (230,037)
¥ 25,914 ¥ 68,672 $ 215,644
The maturities of long-term debt at March 31, 2015 are as follows:
Years ending March 31,
(In millions
of yen)
(In thousands
of U.S. dollars)
2016 ¥27,643 $230,037
2017 20,969 174,495
2018 3,148 26,199
2019 1,364 11,358
2020 427 3,559
Thereafter 3 31
Total ¥53,557 $445,681
Lease obligations at March 31, 2015 and 2014 consisted of
the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Current ¥3,338 ¥3,818 $27,784
Non-current 2,194 4,933 18,259
The weighted average interest rates of lease obligations due
through 2029 at March 31, 2015 and 2014 were 4.0% and
4.5%, respectively.
The maturities of lease obligations at March 31, 2015 are
as follows:
Years ending March 31,
(In millions
of yen)
(In thousands
of U.S. dollars)
2016 ¥3,338 $27,784
2017 1,128 9,390
2018 476 3,967
2019 291 2,429
2020 141 1,178
Thereafter 155 1,293
Total ¥5,533 $46,044
Assets pledged as collateral for short-term loans payable, long-
term debt and guarantees (excluding factory related groups of
assets) at March 31, 2015 and 2014 consisted of the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Finance receivables and
Long-term finance receivables ¥ 71,872 ¥ 60,814 $ 598,088
Property, plant and
equipment, net 65,234 56,187 542,855
Other (see (i) below) 8,871 8,442 73,823
¥145,978 ¥125,443 $1,214,766
(i) ¥1,209 million ($10,068 thousand) and ¥1,124 million of other
current assets were pledged based on a liability in a term lease
contract relating to a building with Murata Medical Services, Ltd.
at March 31, 2015 and 2014, respectively. ¥46 million ($382
thousand) and ¥46 million of investments were pledged as col-
lateral for debt of Mizushima Eco-Works Co., Ltd. at 2015 and
2014, respectively.
The following groups of assets of MMC, the Okazaki factory,
were pledged as collateral at March 31, 2015 and 2014, respectively.
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Buildings and structures ¥13,098 ¥13,757 $109,003
Machinery and equipment —15,699 —
Tools, furniture and fixtures —280 —
Land 985 985 8,203
¥14,084 ¥30,722 $117,207
MITSUBISHI MOTORS CORPORATION
Annual Report 2015
52