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54 Hitachi, Ltd. Annual Report 2005
11. SHORT-TERM AND LONG-TERM DEBT
The components of short-term debt as of March 31, 2005 and 2004 are summarized as follows:
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
Borrowings mainly from banks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥333,183 ¥323,288 $3,113,860
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295,821 216,671 2,764,682
Borrowings from affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,607 83,857 444,925
¥676,611 ¥623,816 $6,323,467
The weighted average interest rate on short-term debt outstanding as of March 31, 2005 and 2004 was 0.1%.
The components of long-term debt as of March 31, 2005 and 2004 are summarized as follows:
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
Unsecured notes and debentures:
Due 2006, interest 3.45% debenture . . . . . . . . . . . . . . . . . . . . . . . ¥ 200,000 ¥ 200,000 $ 1,869,159
Due 2013, interest 0.72% debenture . . . . . . . . . . . . . . . . . . . . . . . 80,000 80,000 747,663
Due 2008, interest 0.52% debenture . . . . . . . . . . . . . . . . . . . . . . . 5,000 –46,729
Due 2010, interest 0.74% debenture . . . . . . . . . . . . . . . . . . . . . . . 5,000 –46,729
Due 2005–2018, interest 0.03–5.92%, issued by subsidiaries . . . . 704,097 687,551 6,580,346
Unsecured convertible debentures:
7th series, due 2004, interest 1.4% . . . . . . . . . . . . . . . . . . . . . . . . –218,468 –
Series A, due 2009, zero coupon . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000 –467,290
Series B, due 2009, zero coupon . . . . . . . . . . . . . . . . . . . . . . . . . . 50,000 –467,290
Due 2004, interest 1.7–1.8%, issued by subsidiaries . . . . . . . . . . . –13,059 –
Loans, principally from banks and insurance companies:
Secured by various assets and mortgages on property, plant and
equipment, maturing 2005–2014, interest 0.65–4.65% . . . . . . . . 12,140 22,777 113,458
Unsecured, maturing 2005–2015, interest 0.4–5.7% . . . . . . . . . . . 706,507 637,111 6,602,869
Capital lease obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,151 14,783 122,906
1,825,895 1,873,749 17,064,439
Less current portion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 506,863 559,647 4,737,037
¥1,319,032 ¥1,314,102 $12,327,402
Before the Company’s merger with Hitachi Unisia Automotive, Ltd., a wholly owned subsidiary, on October 1, 2004, “Due
2008, interest 0.52% debenture” and “Due 2010, interest 0.74% debenture” were included in “Due 2005–2018, interest
0.03–5.92%, issued by subsidiaries.”
The aggregate annual maturities of long-term debt after March 31, 2006 are as follows:
Thousands of
Years ending March 31 Millions of yen U.S. dollars
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 214,029 $ 2,000,271
2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241,888 2,260,636
2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198,691 1,856,925
2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 337,124 3,150,692
Thereafter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327,300 3,058,878
¥1,319,032 $12,327,402