Nikon 2008 Annual Report Download - page 41

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Nikon Annual Report 2008 39
Thousands of
Millions of Yen U.S. Dollars
Issued in Maturity 2008 2007 2008
2.5% Yen Unsecured Bonds November, 1997 November, 2007 ¥ ¥ 10,000 $
1.7% Yen Unsecured Bonds December, 2001 December, 2008 5,000 5,000 49,905
1.15% Yen Unsecured Bonds February, 2003 February, 2008 10,000
1.4% Yen Unsecured Bonds February, 2003 February, 2010 10,000 10,000 99,810
Yen Zero Coupon Convertible Bonds March, 2004 March, 2011 34,500 34,500 344,346
Total ¥ 49,500 ¥ 69,500 $ 494,061
The following is a summary of the terms of bonds which the Company may at any time purchase in any price in the
open market or otherwise acquire. The bonds purchased or otherwise acquired by the Company may be held or resold or,
at the discretion of the Company, may be canceled (together with any unmatured coupons attached thereto or purchased
therewith).
The aggregate annual maturities of long-term debt for the years following March 31, 2008 are as follows:
Thousands of
Year Ending March 31 Millions of Yen U.S. Dollars
2009 ¥ 7,822 $ 78,068
2010 10,657 106,365
2011 44,796 447,110
2012 60 599
2013 4,700 46,911
Thereafter
Total ¥ 68,035 $ 679,053
At March 31, 2008, the following assets were pledged as collateral for the long-term debt.
Thousands of
Millions of Yen U.S. Dollars
2008 2008
Investment securities ¥ 6,796 $ 67,832
Liabilities secured by the above assets were as follows:
Thousands of
Millions of Yen U.S. Dollars
2008 2008
Long-term debt, including current portion ¥ 3,780 $ 37,728
The yen zero coupon convertible bonds were issued with stock acquisition rights to subscribe for shares of common
stock of the Company.
The stock acquisition rights are exercisable through March 14, 2011 at ¥2,058 per share. The stock acquisition rights
outstanding at March 31, 2008 entitled the holders to subscribe for 16,763,848 shares which was computed using the
above-mentioned exercise price.
As is customary in Japan, the Company maintains substantial deposit balances with banks with which it has borrow-
ings. Such deposit balances are not legally or contractually restricted as to withdrawal.
General agreements with respective banks provide, as is customary in Japan, that additional collateral must be provided
under certain circumstances if requested by such banks and that certain banks have the right to offset cash deposited
with them against any long-term or short-term debt or obligation that becomes due and, in case of default and certain
other specified events, against all other debts payable to the banks. The Group has never been requested to provide any
additional collateral.