Sharp 2009 Annual Report Download - page 56

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Finance leases that do not transfer ownership for which the
starting date of the lease transaction on and before March 31,
The conversion price is subject to adjustment for certain
subsequent events such as the issue of common stock at
less than market value and stock splits.
If all convertible bonds with subscription rights to shares
were converted as of March 31, 2008 and March 31, 2009,
79,018 thousand shares of common stock would have been
issuable, in both years.
As is customary in Japan, substantially all of the bank bor-
rowings are subject to general agreements with each bank
which provide, among other things, that security and guaran-
tees for present and future indebtedness will be given upon
request of the bank, and that any collateral so furnished will be
applicable to all indebtedness to that bank. To date, the Com-
pany has not received such requests from its banks. In addi-
tion, the agreements provide that the bank has the right to
offset cash deposited against any short-term or long-term debt
that becomes due, and in case of default and certain other
specified events, against all other debts payable to the bank.
The aggregate annual maturities of long-term debt as of March 31, 2009 were as follows:
Years ending March 31
Yen
(millions)
U.S. Dollars
(thousands)
2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 62,412 $ 643,423
2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33,761 348,051
2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35,946 370,577
2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240,310 2,477,423
2015 and thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,712 533,113
¥424,141 $4,372,587
6. Leases
Information relating to finance leases that do not transfer ownership for which the starting date of the lease transaction on and
before March 31, 2008, as of, and for the years ended March 31, 2008 and 2009, is as follows:
(a) As lessee
(1) Future minimum lease payments and accumulated impairment loss on leased assets
Yen
(millions)
U.S. Dollars
(thousands)
2008 2009 2009
Future minimum lease payments:
Due within one year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥103,880 ¥18,973 $195,598
Due after one year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216,013 32,770 337,835
¥319,893 ¥51,743 $533,433
Accumulated impairment loss on leased assets. . . . . . . . . . . . . . . . . . . . . . . . . ¥ – ¥ 987 $ 10,175
(2) Lease payments and impairment loss
Yen
(millions)
U.S. Dollars
(thousands)
2008 2009 2009
Lease payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥24,230 ¥23,383 $241,062
Impairment loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 987 10,175
2008, lease payments are recognized as expenses.
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