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Seiko Epson Annual Report 2006 61
Thousands of U.S. dollars
March 31, 2006
Contract Unrealized
Instruments amounts Fair values gains (losses)
Forward exchange contracts:
Sold –
U.S. dollar (purchased Japanese yen) $ 66,323 $ 67,021 $ (698)
Euro (purchased Japanese yen) 135,592 140,589 (4,997)
Sterling pound (purchased Japanese yen) 8,266 8,343 (77)
Australian dollar (purchased Japanese yen) 9,109 8,964 145
Thai baht (purchased U.S. dollar) 1,660 1,651 9
Philippine peso (purchased U.S. dollar) 970 979 (9)
Japanese yen (purchased Euro) 6,019 5,976 43
U.S. dollar (purchased Euro) 7,823 7,840 (17)
Polish zloty (purchased Euro) 1,226 1,235 (9)
U.S. dollar (purchased Sterling pound) 5,525 5,525 0
Purchased –
U.S. dollar (sold Japanese yen) 6,351 6,308 (43)
Euro (sold Japanese yen) 1,140 1,149 9
Sterling pound (sold Euro) 3,141 3,141 0
U.S. dollar (sold Taiwan dollar) 3,975 3,992 17
Total unrealized losses from forward exchange contracts $(5,627)
There were no interest rate swap transactions outstanding at March 31, 2006 other than derivatives eligible for
hedge accounting.
These forward exchange contracts were entered into for hedging purposes. Unrealized gains and losses from
these contracts are recognized in earnings. Forward exchange contracts assigned individually to monetary items
denominated in foreign currencies are excluded from the above table.
8. Short-term borrowings and long-term debt:
Short-term borrowings and long-term debt at March 31, 2005 and 2006 consisted of the following:
Thousands of
Millions of yen U.S. dollars
March 31 March 31,
2005 2006 2006
Average
interest
Amount rate Last due
Short-term borrowings ¥ 30,236 ¥ 49,804 1.20% 2007 $ 423,972
Current portion of long-term debt 104,642 113,731 1.26 2007 968,171
Long-term debt from financial institutions 259,919 212,859 1.24 2011 1,812,029
Unsecured bonds issued
by the Company – 30,000 1.05 2010 255,384
Unsecured bonds issued
by the Company – 20,000 1.44 2012 170,256
Unsecured convertible bonds issued by a
subsidiary, convertible at ¥425 ($3.62) – 2,700 – 2009 22,985
Total ¥394,797 ¥429,094 $3,652,797
Average interest rates are calculated using weighted-average interest rates as at March 31, 2006.