Nissan 2007 Annual Report Download - page 68

»FINANCIAL SECTION
Nissan Annual Report 2006-2007
66
In addition to the above, at March 31, 2007, the Company was committed to provide guarantees of indebtedness of certain unconsolidated
subsidiaries and affiliates in the aggregate amount of ¥1,064 million ($9,017 thousand) at the request of the lending banks. The outstanding
balance of installment receivables sold with recourse amounted to ¥6,076 million ($51,492 thousand) at March 31, 2007.
Certain consolidated subsidiaries have entered into overdraft and loan commitment agreements amounting to ¥229,767 million ($1,947,178
thousand) with their customers and others. The loans receivable outstanding and the unused balances under these credit facilities at March 31,
2007 amounted to ¥63,039 million ($534,229 thousand) and ¥166,728 million ($1,412,949 thousand), respectively. Since many of these credit
facilities expire without being utilized and the related borrowings are sometimes subject to a review of the borrowers' creditworthiness, any
unused amount may not necessarily be fully utilized.
17. COMMITMENTS AND CONTINGENCIES
At March 31, 2007, the Company and its consolidated subsidiaries had the following contingent liabilities:
Thousands of
Millions of yen U.S. dollars
As endorser of notes receivable discounted with banks....................................................................................................................... ¥ 5,229 $ 44,314
As guarantor of employees’ housing loans from banks and others ............................................................................................. 211,585 1,793,093
............................................................................................................................................................................................................................................................... ¥216,814 $1,837,407
16. LEASE TRANSACTIONS
a) Lessees’ accounting
Future minimum lease payments subsequent to March 31, 2007 for noncancelable operating leases are summarized as follows:
Thousands of
Year ending Mar. 31, Millions of yen U.S. dollars
2008................................................................................................................................................................................................................................................. ¥ 7,098 $ 60,153
2009 and thereafter............................................................................................................................................................................................................ 25,470 215,847
Total................................................................................................................................................................................................................................................... ¥32,568 $276,000
b) Lessors’ accounting
Future minimum lease income subsequent to March 31, 2007 for noncancelable operating leases are summarized as follows:
Thousands of
Year ending Mar. 31, Millions of yen U.S. dollars
2008................................................................................................................................................................................................................................................. ¥382,028 $3,237,525
2009 and thereafter............................................................................................................................................................................................................ 418,280 3,544,746
Total................................................................................................................................................................................................................................................... ¥800,308 $6,782,271