Epson 2013 Annual Report Download - page 78

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77
For investment securities, Epson regularly reviews the market value and financial results, etc., of the
issuing company (counterparty) based on rules and policies for managing investment securities. Epson also
takes into consideration the state of the relationship with counterparties as it constantly reviews the level of
its holdings.
(3) Liquidity risk
Epson manages liquidity risk by maintaining current liquidity at an appropriate level through creating and
updating liquidity plans at appropriate times, and by constantly reviewing the external financial
environment.
Fair value of financial instruments
The fair value of each category of Epson’s financial instruments and their carrying value in Epson’s balance
sheets as of March 31, 2012 and 2013, were as follows:
Millions of yen
March 31, 2012
Instruments
Carrying
value Fair value
Unrealized
gains
(losses)
Cash and deposits ¥123,093 ¥123,093 -
Notes and accounts receivable-trade 139,309 139,309 -
Short-term investment securities 19,010 19,010 -
Investment securities 8,480 8,480 -
Total ¥289,894 ¥289,894 -
Notes and accounts payable-trade 77,427 77,427 -
Short-term loans payable 30,812 30,812 -
Accounts payable-other 56,695 56,695 -
Bonds payable (including current portion) 100,000 100,534 ¥534
Long-term loans payable (including current portion) 108,000 109,429 1,429
Total ¥372,935 ¥374,899 ¥1,963
Derivative instruments (¥2,215) (¥2,215) -
Derivative instruments in the table above represent a net amount.
Unlisted securities of ¥1,136 million at March 31, 2012 are not included above because there is no market
value and it is therefore extremely difficult to estimate their fair value.