Alpine 2007 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2007 Alpine 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 40

  • 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

27
2007
Currency related
Forward foreign exchange contracts
To sell U.S. dollars ¥7,680 ¥— ¥7,697 ¥(17)
To sell Euro 4,688 — 4,706 (18)
¥(35)
Millions of Yen
Recognized gains (losses)Fair value
Over one yearTotal
Contract value
2006
Currency related
Forward foreign exchange contracts
To sell U.S. dollars ¥1,663 ¥— ¥1,664 ¥(1)
To sell Euro 3,635 — 3,636 (1)
To buy U.S. dollars 6,476 — 6,487 11
To buy Euro 4,662 — 4,673 11
Currency option contracts
Call option
To sell U.S. dollars 4,396 — 75 (7)
68
To sell Euro 4,102 — 51 3
54
Put option
To buy U.S. dollars 4,396 — 67 (1)
68
To buy Euro 4,102 — 36 (18)
54
¥(3)
Millions of Yen
Recognized gains (losses)Fair value
Over one yearTotal
Contract value
2007
Currency related
Forward foreign exchange contracts
To sell U.S. dollars $65,057 $— $65,201 $(144)
To sell Euro 39,712 — 39,864 (152)
$(296)
Thousands of U.S. dollars
Recognized gains (losses)Fair value
Over one yearTotal
Contract value
The Companies evaluate hedge effectiveness semi-annually by comparing the cumulative changes in cash flows or the changes in fair value of
hedged items and the corresponding changes in the hedging derivative instruments.
The outstanding contract amounts of derivative financial transactions and their market values at March 31, 2007 and 2006, are summarized as
follows:
The fair values of forward foreign exchange contracts were estimated based on the market as of March 31, 2007 and 2006.
The fair values of currency option contracts were estimated based on the offered price from the financial institutions. Lower figures of Currency option’
s Contract value total show the option premium. All currency option contracts are zero cost option contracts.
Derivative financial transactions, to which hedge accounting is applied, were excluded from the above.