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Nissan Annual Report 2003 59
The annual interest rates applicable to short-term borrowings outstanding at March 31, 2004 and 2003 ranged principally from 0.1% to 3.4%
and from 0.1% to 7.8%, respectively.
At March 31, 2004 and 2003, long-term debt consisted of the following:
Thousands of
Millions of yen U.S. dollars
2003 2002 2003
As of Mar. 31, 2004 Mar. 31, 2003 Mar. 31, 2004
Debt with collateral:
Loans from banks and other financial institutions due
through 2009 at rates ranging from 1.1% to 6.8%..................................................... ¥1,257,157 ¥1,039,807 $11,859,972
Debt without collateral:
Loans from banks and other financial institutions due
through 2015 at rates ranging from 0.1% to 5.4%..................................................... 441,125 442,796 4,161,556
Bonds in yen due through 2010 at rates ranging
from 0.6% to 3.6%.............................................................................................................. 685,340 617,320 6,465,472
Medium-term notes in U.S. dollars due through 2008
at rates ranging from 1.2% to 3.1%................................................................................ 51,237 59,258 483,368
Euro medium-term notes in yen, U.S. dollars and
Euro due through 2006 at rates ranging from 1.2% to 1.4%................................... 13,825 17,556 130,424
Floating rate bonds with warrants in yen due 2004......................................................... 172,800 172,800 1,630,189
Lease obligation........................................................................................................................ 84,179 –794,141
.............................................................................................................................................. 2,705,663 2,349,537 25,525,122
Less current portion ...................................................................................................................... 1,010,870 746,291 9,536,509
.............................................................................................................................................. ¥1,694,793 ¥1,603,246 $15,988,613
See Note 10 with respect to information on the warrants issued with the floating rate bonds due 2004.
At March 31, 2004, if all warrants had been exercised at the then current exercise price, 109,749 thousand new shares would have been
issuable.
The exercise price of the warrants is subject to adjustment in certain cases which include stock splits. A sufficient number of shares of
common stock is reserved for the exercise of all warrants.
The maturities of long-term debt except for lease obligation are summarized as follows:
Thousands of
Year ending Mar. 31, Millions of yen U.S. dollars
2005................................................................................................................................................................................ ¥1,010,870 $ 9,536,509
2006................................................................................................................................................................................ 472,348 4,456,113
2007................................................................................................................................................................................ 688,541 6,495,670
2008 and thereafter..................................................................................................................................................... 449,725 4,242,689
.......................................................................................................................................................................................... ¥2,621,484 $24,730,981
The assets pledged as collateral for short-term borrowings of ¥295,908 million ($2,791,585 thousand) and long-term debt of ¥1,257,157
million ($11,859,972 thousand) at March 31, 2004 were as follows:
Thousands of
Millions of yen U.S. dollars
Receivables.................................................................................................................................................................... ¥ 287,588 $ 2,713,094
Property, plant and equipment, at net book value ................................................................................................ 1,315,797 12,413,179
Other assets .................................................................................................................................................................. 20,660 194,906
...................................................................................................................................................................................................... ¥1,624,045 $15,321,179
In addition to the above, at March 31, 2004, investments in consolidated subsidiaries of ¥51,106 million ($482,132 thousand) were pledged as
collateral for long-term debt of affiliates of ¥7,779 million ($73,387 thousand), which has not been reflected in the accompanying consolidated
balance sheet.