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7. Accounts Payable–Other and Accrued Expenses
Accounts payable–other and accrued expenses at March 31, 2011
and 2010 were as follows:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2011 2010 2011
Accrued expenses and
accounts payable ¥ 97,159 ¥101,190 $1,168,485
Allowance for product
warranties 28,211 26,331 339,289
¥125,371 ¥127,522 $1,507,774
8. Short-Term Loans Payable, Long-Term Debt and
Lease Obligations
Short-term loans payable at March 31, 2011 and 2010 consisted of
the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2011 2010 2011
Loans, principally from banks ¥125,499 ¥125,851 $1,509,312
The weighted average interest rate on short-term loans payable
at March 31, 2011 and 2010 were 3.0% and 3.1%, respectively.
Long-term debt at March 31, 2011 and 2010 consisted of the
following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2011 2010 2011
Loans, principally from banks
and insurance companies,
due through 2023 at interest
rates averaging 3.6% in
2011 and 3.5% in 2010:
Secured ¥ 72,295 ¥ 87,419 $ 869,461
Unsecured 200,154 179,278 2,407,154
1.1% bonds due September
24, 2010(issued September
26, 2005) —200 —
272,450 266,897 3,276,615
Less current portion (94,454) (193,723) (1,135,955)
¥177,995 ¥ 73,174 $ 2,140,660
1.1% bonds due September 24, 2010 were issued by a domestic
subsidiary, Suiryo Plastics Co., Ltd.
The maturities of long-term debt are as follows:
Years ending March 31,
(In millions
of yen)
(In thousands
of U.S. dollars)
2012 ¥ 94,454 $1,135,955
2013 58,228 700,283
2014 101,242 1,217,591
2015 9,632 115,845
2016 8,493 102,151
Thereafter 398 4,788
Total ¥272,450 $3,276,615
Lease obligations at March 31, 2011 and 2010 consisted of the
following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2011 2010 2011
Current ¥5,265 ¥ 7,405 $63,330
Non-current 8,088 10,939 97,278
The weighted average interest rates on lease obligations due
through 2021 at March 31, 2011 and 2010 were 4.3% and 4.4 %,
respectively.
The maturities of lease obligations are as follows:
Years ending March 31,
(In millions
of yen)
(In thousands
of U.S. dollars)
2012 ¥ 5,265 $ 63,330
2013 3,290 39,574
2014 2,651 31,892
2015 1,156 13,912
2016 609 7,326
Thereafter 380 4,573
Total ¥13,354 $160,609
Assets pledged as collateral for short-term loans payable, long-
term debt and guarantees (excluding factory related groups of
assets) at March 31, 2011 and 2010 consisted of the following:
(In millions of yen)
(In thousands
of U.S. dollars)
March 31,
2011 2010 2011
Finance receivables and
Long-term finance receivables ¥ 51,513 ¥ 56,224 $ 619,520
Inventories 10,225 5,463 122,971
Property, plant and
equipment, net 38,262 69,004 460,162
Other (see (i) below) 9,439 10,094 113,521
¥109,440 ¥140,787 $1,316,176
MITSUBISHI MOTORS CORPORATION
Annual Report 2011
46