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10. Leases
The following is a summary of assets and liabilities related to finance lease transactions at March 31, 2011 and 2012, which includes
acquisition cost, accumulated depreciation and book value of leased assets, future minimum lease payments required under finance
leases, and the present value of lease obligations.
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2011 2012 2012
Acquisition cost ¥108,165 ¥74,189 $904,744
Accumulated depreciation 68,637 39,452 481,122
Book value 39,528 34,737 423,622
Future minimum lease payments
Within one year 25,611 16,744 204,195
Over one year but within five years 24,353 25,372 309,415
Over five years 7,630 7,114 86,756
Total future minimum lease payments ¥ 57,594 ¥49,230 $600,366
Less: Interest (6,349) (5,701) (69,524)
Present value of lease obligations ¥ 51,245 ¥43,529 $530,841
Lease obligations (current) 24,470 15,794 192,610
Lease obligations (long-term) 26,775 27,735 338,232
The following is a summary of future minimum lease payments required under non-cancelable operating leases in the aggregate
and for each of the following periods.
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2011 2012 2012
Within one year ¥19,368 ¥18,611 $226,963
Over one year but within five years 42,692 39,642 483,439
Over five years 23,637 21,423 261,256
Total ¥85,697 ¥79,676 $971,659
11. Financial Instruments
1. Status of Financial Instruments
(1) Policies for Financial Instruments
The Group carries out its financial activities in accordance with the “Fujitsu Group Treasury Policy,” and primarily obtains funds through
bank borrowing and the issuance of corporate bonds based on funding requirements of its business activities. After the adequate liquid-
ity for its business activities has been ensured, the Group invests temporary excess funds in financial assets with low risk. The Group
utilizes derivative transactions only for hedging purposes and not for speculative or dealing purposes.
(2) Description and Risks of Financial Instruments
Trade receivables are exposed to customer credit risk. Additionally, some trade receivables are denominated in foreign currencies in
conjunction with the export of products and exposed to exchange rate fluctuation risk. Investment securities are comprised primarily of
certificates of deposit and available for sale securities issued by the customers. The certificates of deposit are held for fund management
and the shares are held for maintaining and strengthening business relationship with the customers. Shares are exposed to market
price fluctuation risk and financial risk of the company invested. The Group also loans to customers.
120 FUJITSU LIMITED ANNUAL REPORT 2012