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33
Annual Report 2011
8. Derivative Transactions
Fair value of derivative transactions
The aggregate amounts contracted to be paid or received and the fair values of derivative transactions of the Group at March 31,
2011 and 2010 were as follows:
Derivative transactions not subject to hedge accounting
(1) Currency-related derivatives:
Millions of Yen Thousands of U.S. Dollars
2011 2010 2011
Contract amount Contract amount Contract amount
Total
Due after
one year Fair value
Realized
gain (loss) Total
Due after
one year Fair value
Realized
gain (loss) Total
Due after
one year Fair value
Realized
gain (loss)
Forward contracts:
To sell:
U.S. dollars .......
¥ 40 ¥— ¥ 40 ¥ (0) ¥ 9 ¥— ¥ 9 ¥ (0) $ 482 $— $ 482 $ (0)
Euros ................
5,426 — 5,570 (144) — — — — 65,373 — 67,108 (1,735)
Sterling pounds
...
345 — 342 3 — — — — 4,157 — 4,121 36
To buy:
U.S. dollars .......
¥ 244 ¥— ¥ 249 ¥ 5 ¥— ¥— ¥— ¥— $ 2,940 $— $ 3,000 $ 60
Total .................
¥ — ¥— ¥ — ¥(136) ¥— ¥— ¥— ¥ (0) $ — $— $ — $(1,639)
(2) Interest rate-related derivatives:
Millions of Yen Thousands of U.S. Dollars
2011 2010 2011
Contract amount Contract amount Contract amount
Total
Due after
one year Fair value
Realized
gain (loss) Total
Due after
one year Fair value
Realized
gain (loss) Total
Due after
one year Fair value
Realized
gain (loss)
Interest rate swaps:
Receive fix/
Pay float ............
¥10,000 ¥10,000 ¥(155) ¥(6) ¥20,000 ¥20,000 ¥(176) ¥984 $120,482 $120,482 $(1,867) $(72)
Total ...................
¥10,000 ¥10,000 ¥(155) ¥(6) ¥20,000 ¥20,000 ¥(176) ¥984 $120,482 $120,482 $(1,867) $(72)
Notes: 1. Fair values of derivative transactions are determined by prices principally reported by the financial institutions with which the Group engages
in derivative transactions.
2. Interest rate swaps that no longer meet hedging criteria are stated separately. Amounts corresponding to fair values are included in “other
long-term liabilities” in consolidated balance sheets. The net deferred amounts to be paid or received under the said interest rate swaps are
periodically charged to expenses or income over the remaining contract periods.
Derivative transactions subject to hedge accounting
(1) Currency-related derivatives
Millions of Yen Thousands of U.S. Dollars
2011 2011
Contract amount Contract amount
Hedge accounting method Type Main hedged items Total
Due after
one year
Fair
value Total
Due after
one year
Fair
value
Forward contracts
that are subject to
appropriated treatment
Forward contracts:
To sell
Chinese yuan
Foreign-currency
deposit
¥10,056 ¥— Note 3 $121,157 $— Note 3
Total ..................................................................................................
¥10,056 ¥— ¥— $121,157 $— $—
Millions of Yen
2010
Contract amount
Hedge accounting method Type Main hedged items Total
Due after
one year
Fair
value
Currency swaps
that are subject to
appropriated treatment
Currency swaps:
Receive in yen/
Pay in U.S. dollars
Foreign-currency
bond
¥3,020 ¥— Note 2
Total ..................................................................................................
¥3,020 ¥— ¥—