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67 MITSUBISHI MOTORS CORPORATION
(In millions of yen)
2003 2002
Notional Fair Unrealized Notional Fair Unrealized
March 31, amount value gain (loss) amount value gain (loss)
Interest rate swaps:
Pay-fixed, receive-floating 82,938 (2,463) (2,463) 78,694 (4,571) (4,571)
Total ¥82,938 ¥(2,463) ¥(2,463) ¥78,694 ¥(4,571) ¥(4,571)
(In thousands of U.S. dollars)
2003
Notional Fair Unrealized
March 31, amount value gain (loss)
Interest rate swaps:
Pay-fixed, receive-floating $690,000 $(20,491) $(20,491)
Total $(20,491)
17. LEASES
As lessee
MMC and its consolidated subsidiaries lease certain property, plant and equipment. For the years ended March 31, 2003 and 2002,
finance leases, except for agreements which stipulate the transfer of title of the assets to the lessee, were as follows:
(In thousands of
(In millions of yen) U.S. dollars)
March 31, 2003 2002 2003
Finance lease obligations:
Due within 1 year ¥11,967 ¥20,233 $ 99,559
Due after 1 year 20,911 37,882 173,968
Total ¥32,879 ¥58,116 $273,536
At March 31, 2003 and 2002, the equivalent of the acquisition cost of finance lease transactions, except for agreements which
stipulate the transfer of title of the assets to the lessee, amounted to ¥49,183 million ($409,176 thousand) and ¥77,636 million for tools
and equipment respectively, and ¥10,469 million ($87,097 thousand) and ¥31,818 million for others, respectively. At March 31, 2003
and 2002, the total equivalent of the related net book value was ¥25,975 million ($216,098 thousand) and ¥41,122 million, respec-
tively, that was calculated with deductions of the related accumulated depreciation of ¥33,677 million ($280,175 thousand) and ¥68,332
million, respectively.
For the years ended March 31, 2003 and 2002, lease payments for finance lease transactions, except for agreements which stipu-
late the transfer of title of the assets to the lessee, amounted to ¥18,839 million ($156,730 thousand) and ¥24,546 million, respectively.
The equivalent of the related depreciation for the years ended March 31, 2003 and 2002 amounted to ¥16,020 million ($133,278
thousand) and ¥20,489 million, respectively. The equivalent of the related interest expense for the years ended March 31, 2003 and
2002 amounted to ¥1,371 million ($11,406 thousand) and ¥2,158 million, respectively.