Oki 2000 Annual Report Download - page 18

16
Long-term debt at March 31, 2000 and 1999 is summarized
as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Loans from banks, insurance
companies and government
agencies, due through 2022
at rates of up to 8.0%:
Secured ................................. ¥003,000 ¥003,179 $0,028,301
Unsecured ............................ 112,704 111,702 1,063,253
............................................. 115,704 114,882 1,091,555
Unsecured convertible bonds:
2.2% bonds in
yen due 2004 ...................... 32,188 32,688 303,660
1.8% bonds in
yen due 2001 ...................... 17,543 20,000 165,500
3.5% bonds in
U.S. dollars due 1999 ......... —25 —
Unsecured bonds in yen:
6.5% bonds due 2000 .......... —26,460 —
2.45% bonds due 2001 ........ 9,500 10,000 89,622
3.05% bonds due 2003 ........ 10,000 10,000 94,339
3.05% bonds due 2002 ........ 20,000 20,000 188,679
3.15% bonds due 2006 ........ 20,000 20,000 188,679
2.175% bonds due 2002 ...... 9,900 10,000 93,396
2.65% bonds due 2007 ........ 10,000 10,000 94,339
Floating rate*
bonds due 2004................... 5,000 5,000 47,169
2.625% bonds due 2001 ...... 9,000 10,000 84,905
3.00% bonds due 2005 ........ 10,000 10,000 94,339
2.82% bonds due 2004 ........ 10,000 10,000 94,339
2.00% bonds due 2001 ........ 5,000 5,000 47,169
2.59% bonds due 2001 ........ 5,000 5,000 47,169
2.37% bonds due 2002 ........ 5,000 5,000 47,169
............................................. 293,835 324,405 2,772,036
Less: Current portion............... (38,166) (33,460) (360,063)
............................................. ¥255,669 ¥290,595 $2,411,973
*represents a rate linked to yen interest rate swap for 10 years (1.858% at the date of
issuance of the bonds).
At March 31, 2000, short-term and long-term debt aggregat-
ing ¥3,500 million ($33,018 thousand) were collateralized by
property, plant and equipment which amounted to ¥15,457 million
($145,820 thousand).
As is customary in Japan, both short-term and long-term
bank loans are made under general agreements which provide
that collateral and guarantees (or additional collateral or guar-
antees, as appropriate) with respect to present and future
indebtedness will be given at the request of a lending bank,
and that the bank shall have the right, as the obligations
become due, or in the event of default, to offset any cash
deposited against such obligations.
4. Inventories
Inventories at March 31, 2000 and 1999 were as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Finished goods ................. ¥046,941 ¥052,705 $0,442,841
Work in process ................ 51,236 75,758 483,359
Raw materials and
supplies .......................... 42,467 35,428 400,636
....................................... ¥140,644 ¥163,892 $1,326,836
5. Investments in and advances to unconsolidated
subsidiaries and affiliates
Investments in and advances to unconsolidated subsidiaries
and affiliates at March 31, 2000 and 1999 were as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Investments stated:
By the equity method .... ¥3,643 ¥04,495 $34,376
At cost or less ............... 4,400 5,804 41,516
Advances .......................... 1,003 2,828 9,464
....................................... ¥9,047 ¥13,128 $85,357
6. Other investments in securities
Information with respect to the carrying value and related mar-
ket value of other investments in securities at March 31, 2000
and 1999 for which market prices are available is summarized
as follows:
Thousands of
Millions of yen U.S. dollars
2000 1999 2000
Carrying value of:
Marketable equity
securities ..................... ¥00,368 ¥00,380 $003,477
Other stocks and
securities ..................... 15,774 14,139 148,817
....................................... ¥16,143 ¥14,519 $152,295
Market value of
marketable equity
securities ........................ ¥00,398 ¥00,313 $003,757
7. Short-term borrowings and long-term debt
Short-term borrowings are generally unsecured and represent
notes. The weighted average interest rates for the years ended
March 31, 2000 and 1999 were approximately 1.3% and 1.5%,
respectively.