Suzuki 1998 Annual Report Download - page 24

Assets pledged as collateral as of 31st March, 1998:
Millions of Thousands of
yen U.S. dollars
Receivables ........................................................................... ¥ 1,807 $ 13,685
Inventories ............................................................................ 2,042 15,462
Property, plant and equipment ........................................... 13,646 103,306
¥17,497 $132,454
The 2.1 per cent convertible bonds outstanding as of 31st March, 1998 may be redeemed
at the option of the Company, in whole or in part, at prices ranging from 104 per cent to 100
per cent of the principal amount under certain conditions as provided in the applicable
agreement.
The 2.1 per cent convertible bonds are convertible into common stock at the options of
holders at the conversion price of ¥611 per share. If the outstanding convertible bonds were
fully converted as of 31st March, 1998, approximately 3,384,000 additional shares of
common stock would be issued.
As is customary in Japan, both short-term and long-term bank loans are subject to general
agreements which provide that the banks may, under certain circumstances, request
additional security for those 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.
6. Lease transactions
Finance lease transactions, except for those which meet the conditions that the ownership
of the leased assets is substantially transferred to the lessee,as of 31st March, 1998 were as
follows:
Thousands of
Millions of yen U.S. dollars
1998 1997 1998
Future lease payments
Within one year .......................................... ¥ 462 ¥ — $3,498
More than one year .................................... 602 — 4,561
1,064 — 8,060
Lease expenses ................................................... 531 1,105 4,026
Future lease revenues
Within one year .......................................... 74 — 562
More than one year .................................... 220 — 1,671
295 — 2,234
Lease revenues ................................................... ¥ 73 ¥ 64 $ 555
The aggregate annual maturities of long-term debt outstanding as of 31st March, 1998
were as follows:
Millions of Thousands of
Year ending 31st March yen U.S. dollars
1999 ....................................................................................... ¥ 4,937 $ 37,374
2000 ....................................................................................... 25,021 189,413
2001 ....................................................................................... 1,336 10,118
2002 ....................................................................................... 874 6,620
2003 ....................................................................................... 2,885 21,839
Thereafter ............................................................................. 113 856
¥35,167 $266,221