Mitsubishi 2010 Annual Report Download - page 48

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The following groups of assets of MMC, the Shiga factory, were pledged as collateral at March 31, 2010 and 2009, respectively.
In millions of yen
In thousands of
U.S. dollars
2010 2009 2010
Buildings and structures
¥ 2,682 ¥ 2,848 $ 28,834
Machinery and equipment
11,797 14,401 126,802
Land
3,859 3,859 41,482
¥18,339 ¥21,109 $197,118
The following groups of assets of a consolidated subsidiary, Pajero Manufacturing Corporation, were pledged as collateral at March
31, 2010 and 2009, respectively.
In millions of yen
In thousands of
U.S. dollars
2010 2009 2010
Buildings and structures
¥2,537 ¥2,679 $27,269
Machinery and equipment
2,972 3,472 31,946
Land
1,540 1,540 16,552
¥7,049 ¥7,691 $75,768
The following groups of assets of a consolidated subsidiary, Suiryo Plastics Co., Ltd., were pledged as collateral at March 31, 2010
and 2009, respectively.
In millions of yen
In thousands of
U.S. dollars
2010 2009 2010
Buildings and structures
¥ 918 ¥ 984 $ 9,869
Machinery and equipment
1,264 1,463 13,593
Land
194 194 2,090
¥2,377 ¥2,642 $25,553
The obligations secured by such collateral at March 31, 2010 and 2009 consisted of the following:
In millions of yen
In thousands of
U.S. dollars
2010 2009 2010
Short-term loans payable
¥ 45,159 ¥ 73,135 $ 485,373
Current portion of long-term debt
62,318 26,612 669,804
Long-term debt
25,100 16,670 269,783
¥132,578 ¥116,419 $1,424,962
9. Net Assets
The Companies Act 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 Companies Act.
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, 2010.
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.
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MITSUBISHI MOTORS CORPORATION Annual Report 2010MITSUBISHI MOTORS CORPORATION Annual Report 2010