Fujitsu 2009 Annual Report Download - page 101

Convertible bonds are treated solely as liabilities and value inherent in their conversion feature is not recognized as equity in accor-
dance with accounting principles and practices generally accepted in Japan.
*1 The primary purpose of the issue of ¥100 billion unsecured convertible bonds due 2010 and ¥100 billion unsecured convertible bonds due 2011 (the “Bonds”) was to
distribute and smooth the redemption of the ¥250 billion zero coupon unsecured convertible bonds due 2009 (the “Former Bonds”) issued by the Company in 2002. The
Former Bonds were redeemed at the maturity date (May 27, 2009) by cash financed from the Bonds. The corresponding interest rates are as follows.
Before May 27, 2009 On and after May 28, 2009
Unsecured convertible bonds due 2010 1.60% 0.00% [3.00%] [ ] represents interest rates if the weighted average share price of
10 consecutive days is below ¥900, and the bonds are redeemed
before May 18, 2010.
Unsecured convertible bonds due 2011 1.60% 0.00% [1.75%] [ ] represents interest rates if the weighted average share price of
10 consecutive days is below ¥900, and the bonds are redeemed
before May 18, 2011.
*2 The main details of convertible bonds at March 31, 2009
Zero coupon unsecured
convertible bonds due 2009
Unsecured convertible
bonds due 2010
Unsecured convertible
bonds due 2011
Date issued 2002/5/27 2007/8/31 2007/8/31
Stock to be issued Common Stock Common Stock Common Stock
Issue price of subscription rights to shares Zero Zero Zero
Conversion Price of the bonds (Yen) 1,201 900 900
Total issue price (Million Yen) 250,000 100,000 100,000
Total issue price of stock issued by the exercise of subscription rights to
shares (Million Yen)
— — —
Subscription of rights to shares granted (%) 100 100 100
Exercisable periods of subscription rights to shares June 10, 2002 to May 28, 2009 to May 28, 2009 to
May 13, 2009 May 24, 2010 May 24, 2011
The aggregate annual maturities of long-term debt subsequent to March 31, 2009 are summarized as follows:
Years ending March 31
Yen
(millions)
U.S. Dollars
(thousands)
2010 ¥311,133 $3,174,827
2011 165,475 1,688,521
2012 135,144 1,379,020
2013 65,485 668,214
2014 and thereafter 90,493 923,398
Total ¥767,730 $7,833,980
At March 31, 2009, the Group had committed facility contracts with banks aggregating ¥210,188 million ($2,144,776 thousand). ¥3,004
million ($30,653 thousand) was used out of the total credit limit as the above short-term and long-term borrowings and the rest, ¥207,184
million ($2,114,122 thousand), was unused.
Assets pledged as collateral for short-term borrowings and long-term debt at March 31, 2008 and 2009 are principally presented below:
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2008 2009 2009
Property, plant and equipment, net ¥2,651 ¥2,562 $26,143
As is customary in Japan, substantially all loans from banks (including short-term loans) are made under bank transaction agreements
which stipulate that, at the request of the banks, the borrower is required to provide collateral or guarantors (or additional collateral or guaran-
tors, 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 bank transaction agreements further stipulate that the banks have the right to offset
deposits at the banks against indebtedness which matures or becomes due prematurely by default owed to the banks.
FACTS & FIGURES Notes to Consolidated Financial Statements
099
ANNUAL REPORT 2009
FUJITSU LIMITED