Sharp 2009 Annual Report Download - page 55

difficulty in renewing such loans when loans have come due
or management has determined such renewal advisable.
The weighted average interest rates of short-term borrowings as
of March 31, 2008 and 2009 were 1.9% and 0.8%, respectively.
The Company and its consolidated subsidiaries have had no
5. Short-term Borrowings and Long-term Debt
Short-term borrowings including current portion of long-term debt as of March 31, 2008 and 2009 consisted of the following:
Yen
(millions)
U.S. Dollars
(thousands)
2008 2009 2009
Bank loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥120,139 ¥ 61,345 $ 632,423
Bankers’ acceptances payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 163 1,680
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158,168 335,426 3,458,000
Current portion of long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,011 8,839 91,124
¥324,328 ¥405,773 $4,183,227
Long-term debt as of March 31, 2008 and 2009 consisted of the following:
Yen
(millions)
U.S. Dollars
(thousands)
2008 2009 2009
0.0%–12.1% unsecured loans principally from banks, due 2008 to 2020 . . . . . . . ¥120,488 ¥100,178 $1,032,763
0.620% unsecured straight bonds, due 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . 30,000 30,000 309,278
0.970% unsecured straight bonds, due 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 20,000 206,186
1.165% unsecured straight bonds, due 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . – 10,000 103,093
1.423% unsecured straight bonds, due 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . – 30,000 309,278
2.068% unsecured straight bonds, due 2019 . . . . . . . . . . . . . . . . . . . . . . . . . . – 10,000 103,093
0.000% unsecured convertible bonds
with subscription rights to shares, due 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . 203,926 203,211 2,094,959
0.320%–1.177% unsecured Euroyen notes
issued by a consolidated subsidiary, due 2008 to 2013 . . . . . . . . . . . . . . . . . . 7,409 5,818 59,979
0.700% unsecured Pound discount notes
issued by a consolidated subsidiary, due 2009. . . . . . . . . . . . . . . . . . . . . . . . . – 502 5,175
0.48%–1.54% payables under
securitized lease receivables, due 2008 to 2014 . . . . . . . . . . . . . . . . . . . . . . . 43,781 – –
lease obligations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 23,271 239,907
425,604 432,980 4,463,711
Less – Current portion included in short-term borrowings . . . . . . . . . . . . . . . . . (46,011) (8,839) (91,124)
¥379,593 ¥424,141 $4,372,587
The following is a summary of the terms for conversion and redemption of the convertible bonds with subscription rights to shares:
Yen
Conversion
price
0.000% unsecured convertible bonds with subscription rights to shares, due 2013. . . . . . . . . . . . . . . . . . . . . . . . . . ¥2,531.00
Net deferred tax assets as of March 31, 2008 and 2009 were included in the consolidated balance sheets as follows:
Yen
(millions)
U.S. Dollars
(thousands)
2008 2009 2009
Deferred tax assets (Current Assets) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥54,453 ¥ 60,538 $ 624,103
Deferred tax assets (Investments and Other Assets) . . . . . . . . . . . . . . . . . . . . 26,794 113,314 1,168,186
Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (141) (1) (10)
Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,608) (2,615) (26,959)
Net deferred tax assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥77,498 ¥171,236 $1,765,320
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