Nikon 2007 Annual Report Download - page 38

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
36 NIKON ANNUAL REPORT 2007
4. INVENTORIES
Inventories at March 31, 2007 and 2006 consisted of the following:
Finished and semi-finished products
Work in process
Raw materials and supplies
Total
Thousands of
U.S. Dollars
2007
$ 730,211
1,106,938
250,110
$2,087,259
2006
¥ 100,499
113,767
24,580
¥ 238,846
2007
¥ 86,201
130,674
29,526
¥ 246,401
Millions of Yen
6. SHORT-TERM BORROWINGS AND LONG-TERM DEBT
Short-term borrowings at March 31, 2007 and 2006 consisted of the following:
Short-term loans, principally from banks:
2007: 0.85250%-5.05000%
2006: 0.39230%-8.60000%
Total
Thousands of
U.S. Dollars
2007
$ 131,417
$ 131,417
2006
¥ 12,632
¥ 12,632
2007
¥ 15,514
¥ 15,514
Millions of Yen
5. LONG-LIVED ASSETS
The Group reviewed its long-lived assets for impairment as of the period ended March 31, 2006 and, as a result, recognized an impairment loss of
¥245 million as other expenses for the idle buildings and machines of the plants in Shinagawa, Tokyo and Ohtawara, Tochigi due to no possibility of
using them and the carrying amount of the relevant machinery was written down to the recoverable amount for the year ended March 31, 2006.
The Group reviewed its long-lived assets for impairment as of the period ended March 31, 2007 and, as a result, recognized an impairment loss
of ¥589 million ($4,988 thousand) for certain assets of CMP division, which include buildings and structures, machinery and equipment, and other
assets, because a deterioration of the business environment eroded its profitability for the year ended March 31, 2007. The carrying amount of the
relevant assets was written down to the recoverable amount. The impairment loss was included in loss on restructuring of business of other expenses.
The recoverable amount of the assets was measured at net selling price. Those assets which have no possibility of using or difficult to sell is
measured at memorandum price.
Long-term debt at March 31, 2007 and 2006 consisted of the following:
Loans, principally from banks and insurance companies:
2007: 0.5900%-4.3600% due 2008-2013
2006: 0.33188%-5.5100% due 2007-2013
Bonds
Total
Less: Current portion
Long-term debt, less current portion
Thousands of
U.S. Dollars
2007
$ 172,065
588,734
760,799
(185,874)
$ 574,925
2006
¥ 20,699
145,500
166,199
(77,556)
¥ 88,643
2007
¥ 20,312
69,500
89,812
(21,942)
¥ 67,870
Millions of Yen
The following was a summary of the terms of bonds which the Company may at any time purchase at any price in the open market or
otherwise. The bonds purchased or otherwise acquired by the Company may be held or resold or, at the discretion of the Company, may be
canceled (together with any unmatured coupons attached thereto or purchased therewith).
Issued in Maturity
2.5% Yen Unsecured Bonds November, 1997 November, 2007
1.0% Yen Unsecured Bonds April, 2001 April, 2006
1.3% Yen Unsecured Bonds December, 2001 December, 2006
1.7% Yen Unsecured Bonds December, 2001 December, 2008
1.15% Yen Unsecured Bonds February, 2003 February, 2008
1.4% Yen Unsecured Bonds February, 2003 February, 2010
Yen Zero Coupon Convertible Bond June, 2002 March, 2007
Yen Zero Coupon Convertible Bond March, 2004 March, 2011
Total
Thousands of
U.S. Dollars
2007
$ 84,710
42,355
84,710
84,710
292,249
$ 588,734
2006
¥ 10,000
10,000
10,000
5,000
10,000
10,000
56,000
34,500
¥ 145,500
2007
¥ 10,000
5,000
10,000
10,000
34,500
¥ 69,500
Millions of Yen