Suzuki 2003 Annual Report Download - page 32

Download and view the complete annual report

Please find page 32 of the 2003 Suzuki annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 47

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47

SUZUKI MOTOR CORPORATION
Short-term bank loans
Secured ................................................................... ¥ 5,077 ¥ 2,658 $ 42,241
Unsecured ............................................................... 98,499 107,653 819,461
¥103,576 ¥110,312 $861,703
5. Short-term bank loans and long-term debt
Short-term bank loans as of March 31, 2003 and 2002 consisted of the following. The annual
interest rates of short-term bank loans as of March 31, 2003 were 0.22 percent to 10.78 percent.
2003 2002 2003
The 2.1 percent convertible bonds outstanding as of March 31, 2002 might be redeemed at
the option of the Company, in whole or in part, at price of 100 percent of the principal amount
under certain conditions as provided in the applicable agreement.
The 2.1 percent convertible bonds were convertible into common stock at the options of
holders at the conversion price of ¥605.1 per share, after giving effect to the new shares issued
to General Motors of Canada Limited on January 18, 2001.
The zero coupon convertible bonds are convertible into common stock at the options of
holders at the conversion price of ¥2,000 per share.
If the outstanding convertible bonds were fully converted as of March 31, 2003, 15,000,000
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
Long-term debt as of March 31, 2003 and 2002 consisted of:
Loans maturing through 2010
Secured ................................................................ ¥ 20 ¥ 67 $ 166
Unsecured ............................................................ 5,218 2,800 43,414
Unsecured 2.10 percent convertible bonds
in yen due 2003 .................................................. —1,350 —
Unsecured 0.89 percent yen bonds due 2003 ....... 5,000 5,000 41,597
Unsecured 1.13 percent yen bonds due 2004 ....... 10,000 10,000 83,194
Unsecured 0.33 percent yen bonds due 2004 ....... 5,000 5,000 41,597
Unsecured zero coupon convertible bonds
in yen due 2010 .................................................... 30,000 30,000 249,584
Secured 11.20 percent Indian Rs. bonds due 2007 5,140 —42,762
Secured 12.00 percent Indian Rs. bonds due 2012 2,570 —21,381
¥62,948 ¥54,218 $523,697
Less portion due within one year............................. (6,280) (2,853) (52,249)
¥56,668 ¥51,364 $471,447
2003 2002 2003
Thousands of
U.S. dollars
Millions of yen
Thousands of
U.S. dollars
Millions of yen
32