Mitsubishi 2009 Annual Report Download - page 46

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Significant declines in the value of securities with market value are recognized as impairment losses if the decline is not considered
to be recoverable. After the write down of the impaired amount, a new book value is established. Losses recognized on the impairment
of securities with market value totaled ¥0 million ($6 thousand) for the years ended March 31, 2009. Similarly, significant declines in the
value of securities without market value are recognized as impairment losses. Losses recognized on the impairment of securities with-
out market value totaled ¥43 million ($438 thousand) and ¥45 million for the years ended March 31, 2009 and 2008, respectively.
Investments in unconsolidated subsidiaries and affiliated companies, and investments in securities at March 31, 2009 and 2008 were
as follows:
In millions of yen
In thousands of
U.S. dollars
2009 2008 2009
Investments in unconsolidated subsidiaries and affiliated companies ¥47,214 ¥55,450 $480,655
Investments in securities 21,228 37,570 216,110
¥68,443 ¥93,021 $696,765
7. Accounts Payable—Other and Accrued Expenses
Accounts payable-other and accrued expenses at March 31, 2009 and 2008 were as follows:
In millions of yen
In thousands of
U.S. dollars
2009 2008 2009
Accrued expenses and accounts payable ¥114,578 ¥178,508 $1,166,432
Allowance for product warranties 35,561 50,320 362,018
¥150,139 ¥228,829 $1,528,450
8. Short-Term Loans Payable, Long-Term Debt and Lease Obligations
Short-term loans payable at March 31, 2009 and 2008 consisted of the following:
In millions of yen
In thousands of
U.S. dollars
2009 2008 2009
Loans, principally from banks ¥179,635 ¥219,597 $1,828,723
The weighted average interest rates on short-term loans payable at March 31, 2009 and 2008 were 3.9% and 4.8%, respectively.
Long-term debt at March 31, 2009 and 2008 consisted of the following:
In millions of yen
In thousands of
U.S. dollars
2009 2008 2009
Loans, principally from banks and insurance companies, due through 2023
at interest rates averaging 4.0% in 2009 and 4.7% in 2008:
Secured ¥ 43,283 ¥ 75,569 $ 440,632
Unsecured 104,687 8,682 1,065,736
3.3% bonds due May 28, 2009 (issued May 28, 1997) 25,600 25,600 260,612
3.3% Euro medium-term notes due July 15, 2008 (issued July 15, 2003) –2,000 –
5.7% to 6.0 % bonds due 2008 through 2009 (issued 2005 through 2006) –22,260 –
1.1% bonds due September 24, 2010 (issued September 26, 2005) 200 200 2,036
173,770 134,311 1,769,017
Less current portion (68,991) (76,705) (702,341)
¥104,779 ¥ 57,606 $1,066,675
44 MITSUBISHI MOTORS CORPORATION Annual Report 2009