Mitsubishi 2009 Annual Report Download - page 49

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The following groups of assets of a consolidated subsidiary, Pajero Manufacturing Corporation, were pledged as collateral at March
31, 2009 and 2008, respectively.
In millions of yen
In thousands of
U.S. dollars
2009 2008 2009
Buildings and structures ¥2,679 ¥2,879 $27,274
Machinery and equipment 3,472 4,002 35,352
Land 1,540 1,540 15,677
¥7,691 ¥8,422 $78,304
The following groups of assets of a consolidated subsidiary, Suiryo Plastics Co., Ltd., were pledged as collateral at March 31, 2009
and 2008, respectively.
In millions of yen
In thousands of
U.S. dollars
2009 2008 2009
Buildings and structures ¥ 984 ¥ 994 $10,027
Machinery and equipment 1,463 1,210 14,894
Land 194 194 1,980
¥2,642 ¥2,399 $26,902
The obligations secured by such collateral at March 31, 2009 and 2008 consisted of the following:
In millions of yen
In thousands of
U.S. dollars
2009 2008 2009
Short-term loans payable ¥ 73,135 ¥ 75,341 $ 744,535
Current portion of long-term debt 26,612 48,466 270,919
Long-term debt 16,670 27,102 169,713
¥116,419 ¥150,910 $1,185,168
9. Net Assets
The Corporate Law provides that an amount equal to 10% of the amount to be disbursed as a distribution of earnings should be
appropriated to the legal reserve until the sum of the legal reserve and capital surplus equals at least 25% of common stock. MMC and
its domestic subsidiaries have provided these amounts in accordance with the Corporate Law.
MMC is authorized to issue 3,312,000 shares of convertible preferred stock that are classified as Series A, B and G (3 to 4 times in
each series), and has 437,593 shares outstanding at March 31, 2009.
The holders of each series of convertible preferred stock do not have voting rights, but the holders of Series A and G (except for
Series B) are entitled to preferred stock dividends of ¥50,000 per share each year after April 2009.
MMC also would be required to distribute residual claims to the holders of each series of convertible preferred stock by a single
payment of one million yen per share of preferred stock in order of payment.
10. Contingent Liabilities
Loan guarantees given in the ordinary course of business amounted to ¥4,007 million ($40,796 thousand) and ¥4,699 million at March
31, 2009 and 2008, respectively. Agreements similar to guarantees given in the ordinary course of business amounted to ¥1,424 million
($14,500 thousand) and ¥2,028 million at March 31, 2009 and 2008, respectively.
47
Annual Report 2009 MITSUBISHI MOTORS CORPORATION