Fujitsu 2002 Annual Report Download - page 37

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35
Assets pledged as collateral for bank loans and long-term debt at March 31, 2001 and 2002 are presented below:
Yen U.S. Dollars
(millions) (thousands)
2001 2002 2002
Property, plant and equipment, net ¥19,465 ¥17,013 $127,917
Receivables, trade and other current assets 35 ——
¥19,500 ¥17,013 $127,917
As is customary in Japan, substantially all loans from banks (including short-term loans) are made under general
agreements which provide that, at the request of the banks, the borrower is required to provide collateral or guarantors (or
additional collateral or guarantors, as appropriate) with respect to such loans, and that all assets pledged as collateral
under such agreements will be applicable to all present and future indebtedness to the banks concerned. These general
agreements further provide that the banks have the right, as the indebtedness matures or becomes due prematurely by
default, to offset deposits at the banks against the indebtedness due to the banks.
At March 31, 2002, the Group has committed line contracts with banks aggregating ¥384,228 million ($2,888,932
thousand). Of the total credit limit, ¥154,052 million ($1,158,285 thousand) was used as the above short-term and long-
term borrowings, and the rest ¥230,176 million ($1,730,647 thousand) was unused.
The current conversion prices of the 1.4%, 1.95% and 2.0% convertible bonds issued by the Company are ¥1,751.50,
¥998.00 and ¥998.00 per share, respectively. Each conversion price is subject to adjustment in certain circumstances,
including stock splits or free share distributions of common stock. At March 31, 2002, approximately 71 million shares of
common stocks were reserved for the conversion of all outstanding convertible bonds.
Certain outstanding convertible bonds and notes can be repurchased at any time and may be redeemed at the option of
the Company, in whole or in part, at prices ranging from 102% to 100% of their principal amounts.
The aggregate annual maturities of long-term debt subsequent to March 31, 2002 are summarized as follows:
Yen U.S. Dollars
Years ending March 31 (millions) (thousands)
2003 ¥190,767 1,434,338
2004 208,631 1,568,654
2005 258,785 1,945,752
2006 104,126 782,902
2007 and thereafter 563,730 4,238,571
Convertible bonds are treated solely as liabilities and value inherent in their conversion feature is not recognized as equity
in accordance with accounting principles generally accepted in Japan. The total amount of the convertible bonds has been
included in long-term debt.
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