Mitsubishi 2015 Annual Report Download - page 61

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Finance receivables
Finance receivables are classified by certain terms to maturity, and
their fair values are determined based on the present values of the
respective future cash flows discounted using appropriate rates,
such as the rates of government bonds after adding credit risk
premiums based on the credit risk classes.
Investments
The fair values of investments are based on their respective market
values. Refer to Note 5, “Investments”, regarding the details of
securities classified by purpose for holding.
Liabilities
Notes and accounts payable – trade, Electronically recorded obliga-
tions, Short-term loans payable and Accounts payable – other and
accrued expenses
The carrying amounts are used as fair values of these items as these
items are settled within a short period of time and the fair values
are nearly equal to such carrying amounts.
Long-term loans payable
Long-term loans payable are classified by certain terms to maturity,
and their fair values are determined based on the respective present
values of the total amount of principal and interest discounted
using the prevailing interest rates that would be applied if similar
loans were made at the valuation date.
Derivative transactions
Refer to Note 16, “Derivative Financial Instruments”.
2. Financial instruments for which it is extremely difficult to reason-
ably measure fair value
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2015 2014 2015
Non-listed stocks and stocks
of unconsolidated
subsidiaries and affiliates ¥53,146 ¥53,187 $442,262
These financial instruments do not have any quoted market price
and the future cash flow cannot be estimated, and consequently
they are considered to be extremely difficult to reasonably measure
fair value. Accordingly, such financial instruments are not included
in measuring the fair value of Investments as described above.
3. Maturity profile of monetary receivables subsequent to March
31, 2015
(In millions of yen)
March 31, 2015
Bank
deposits
Notes and
accounts
receivable–
trade
Finance
receivables
2016 ¥439,901 ¥184,653 ¥37,702
2017 — — 5,411
2018 — — 6,408
2019 — — 7,770
2020 — — 10,856
Thereafter — — 9,998
Total ¥439,901 ¥184,653 ¥78,149
(In thousands of U.S. dollars)
March 31, 2015
Bank
deposits
Notes and
accounts
receivable–
trade
Finance
receivables
2016
$3,660,659 $1,536,599 $313,742
2017
— — 45,035
2018
— — 53,330
2019
— — 64,664
2020
— — 90,343
Thereafter
— — 83,203
Total
$3,660,659 $1,536,599 $650,321
4. Maturity profile of the long-term loans payable subsequent to
March 31, 2015
Refer to Note 7 “Short-term Loans payable, Long-term Debt and
Lease Obligations”.
16. Derivative Financial Instruments
Summarized below are the notional amounts and the estimated fair
values (based on the prices provided by counterparty financial insti-
tutions) of the derivative positions at March 31, 2015 and 2014:
MITSUBISHI MOTORS CORPORATION
Annual Report 2015 59