Olympus 2003 Annual Report Download - page 33

OLYMPUS 2003 
3. not es and account s r eceivabl e
Notes and accounts receivable as of March ,  and , consisted of the following:
t h ousan d s of
mil l ion s of yen u.s. dol l a r s
2003 2002 2003
Unconsolidated subsidiaries and affiliates ................................................................ ¥1,701 ¥668 $ 14,175
Tr ade ...................................................................................................................... 102,489 95,416 854,075
...................................................................................................................... ¥104,190 ¥96,084 $868,250
4. invent or ies
Inventories as of March ,  and , consisted of the following:
t h ousan d s of
mil l ion s of yen u.s. dol l a r s
2003 2002 2003
Finished goods........................................................................................................ ¥53,425 ¥62,295 $445,208
Work in process and raw materials........................................................................... 23,741 20,767 197,842
...................................................................................................................... ¥77,166 ¥83,062 $643,050
5. sh or t -t er m bor r owings
Short-term borrowings, which consist principally of bank acceptances payable in foreign currencies, are due in to  days. The
annual interest rates on these borrowings ranged from .% to .% and from .% to .% as of March ,  and ,
respectively. Bank acceptances payable of ¥, million ($, thousand) were secured by certain trade accounts receivable and
inventories as of March , .
As is customary in Japan, substantially all bank borrowings, including acceptances payable, are subject to general agreements with
each bank which provide, among other things, that the banks may, under certain circumstances, require additional security for such
loans and may treat any security furnished to the banks, as well as cash deposited with them, as security for all present and future
indebtedness. The Company and its subsidiaries have never been requested to submit such additional security.
6. l ong-t er m debt
Long-term debt as of March ,  and , consisted of the following.
t h ousan d s of
mil l ion s of yen u.s. dol l a r s
(Unsecured long-term debt) 2003 2002 2003
2.70% yen bonds, due December 2002..................................................................... ¥ — ¥10,000 $—
3.15% yen bonds, due April 2003 ............................................................................ 15,000 15,000 125,000
3.60% yen bonds, due April 2006 ............................................................................ 15,000 15,000 125,000
2.45% yen bonds, due November 2003..................................................................... 10,000 10,000 83,333
2.975% yen bonds, due November 2006................................................................... 10,000 10,000 83,333
2.65% yen bonds, due February 2004....................................................................... 10,000 10,000 83,333
3.35% yen bonds, due February 2009....................................................................... 5,000 5,000 41,667
2.60% yen bonds, due March 2003 .......................................................................... —5,000 —
2.60% yen bonds, due March 2003 .......................................................................... —10,000 —
2.65% loans from Japanese insurance companies, due February 2004 ....................... 3,000 3,000 25,000
2.105% loan from a Japanese bank, due March 2005................................................ 1,500 1,500 12,500
1.45% loan from a Japanese bank, due March 2006.................................................. 30,000 30,000 250,000
0.72% loan from a Japanese bank, due March 2008.................................................. 20,000 —166,667
Others from foreign banks....................................................................................... 688 1,469 5,733
Others from Japanese banks .................................................................................... 412 —3,434
(Secured long-term debt)
Others from foreign banks....................................................................................... 1,689 1,576 14,075
Others from Japanese banks .................................................................................... 810 1,061 6,750
...................................................................................................................... ¥123,099 ¥128,606 $1,025,825
Less—Current maturities........................................................................................ (38,321) (25,259) (319,342)
...................................................................................................................... ¥84,778 ¥103,347 $706,483
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