Casio 2002 Annual Report Download - page 26

Long-term debt at March 31, 2002 and 2001 consisted of:
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
1.9% unsecured convertible bonds due in 2004........................................................ ¥23,811 ¥23,811 $179,030
2.0% unsecured bonds due in 2002.......................................................................... 50,000 50,000 375,940
0.55% unsecured bonds due in 2004........................................................................ 2,000 —15,037
2.15% unsecured bonds due in 2004........................................................................ 10,000 10,000 75,188
2.05% unsecured bonds due in 2005........................................................................ 30,000 30,000 225,564
2.575% unsecured bonds due in 2007...................................................................... 10,000 10,000 75,188
1.42% unsecured bonds due in 2009........................................................................ 10,000 —75,188
Unsecured loans principally from banks at interest rates of 0.38% to 2.33%
maturing through 2011........................................................................................... 49,170 5,950 369,699
Total ......................................................................................................................... 184,981 129,761 1,390,834
Less amount due within one year .............................................................................. 50,910 500 382,782
................................................................................................................................. ¥134,071 ¥129,261 $1,008,052
The indentures covering the 1.9% convertible bonds provide, among other conditions, for (1) conversion into shares of
common stock at the conversion prices per share of ¥1,502.4 ($11.30) (subject to change in certain circumstances), and
(2) redemption at the option of the Company commencing March 1996 at prices ranging from 107% to 100% of the
principal amount.
The annual maturities of long-term debt at March 31, 2002 were as follows:
Thousands of
Year ending March 31 Millions of yen U.S. dollars
2003............................................................................................................................................... ¥50,910 $382,782
2004............................................................................................................................................... 25,721 193,391
2005............................................................................................................................................... 12,910 97,067
2006............................................................................................................................................... 30,910 232,406
2007............................................................................................................................................... 580 4,361
Thereafter....................................................................................................................................... 63,950 480,827
Line of credit with the main financial institutions agreed as of March 31, 2002 and 2001 were as follows:
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
Line of credit ..................................................................................................................¥60,000 ¥18,000 $451,128
Unused........................................................................................................................... 50,000 —375,940
8INCOME TAXES
The Company and its consolidated domestic subsidiaries were subject to a number of income taxes, which, in the
aggregate, indicated a statutory rate in Japan of approximately 42.1% for the years ended March 31, 2002 and 2001,
respectively.
Due to the incurred net loss for the year ended March 31, 2002, reconciliation of tax rate between statutory tax rate
and effective tax rate is not disclosed.
The following table summarizes the significant differences between the statutory tax rate and the effective tax rate for
financial statement purposes for the years ended March 31, 2001:
2001
Statutory tax rate .............................................................................................................................................................. 42.1%
Increase (reduction) in tax resulting from:
Nondeductible expenses (entertainment, etc.) ............................................................................................................... 2.0
Nontaxable income (dividends received deduction, etc.) ................................................................................................ (14.2)
Net current operating losses of subsidiaries ................................................................................................................... 12.9
Difference in statutory tax rate (included in foreign subsidiaries).................................................................................... (2.3)
Effect of elimination of dividends income ...................................................................................................................... 19.6
Effect of other elimination (sales of securities and dissolution on affiliated companies, etc.)........................................... (36.7)
Other ............................................................................................................................................................................ 1.6
Effective tax rate ............................................................................................................................................................... 25.0%
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