Nikon 2009 Annual Report Download - page 41

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Nikon Annual Report 2009 39
Long-term debt at March 31, 2009 and 2008 consisted of the following:
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Loans, principally from banks and insurance companies:
2009: 0.9400%–4.3600% due 2010–2016
2008: 0.7400%–4.3600% due 2008–2013 ¥27,360 ¥18,535 $278,528
Obligations under finance leases 8,910 90,709
Bonds 42,900 49,500 436,730
Total 79,170 68,035 805,967
Less: Current portion (13,607) (7,822) (138,527)
Long-term debt, less current portion ¥65,563 ¥60,213 $667,440
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 oth-
erwise 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).
Millions of Yen
Thousands of
U.S. Dollars
Issued in Maturity 2009 2008 2009
1.7% Yen Unsecured Bonds December, 2001 December, 2008 ¥ 5,000
1.4% Yen Unsecured Bonds February, 2003 February, 2010 ¥10,000 10,000 $101,802
Yen Zero Coupon Convertible Bonds March, 2004 March, 2011 32,900 34,500 334,928
Total ¥42,900 ¥49,500 $436,730
The aggregate annual maturities of long-term debt for the years following March 31, 2009 are as follows:
Year ending March 31
Millions of Yen
Thousands of
U.S. Dollars
2010 ¥13,607 $138,527
2011 45,652 464,740
2012 3,353 34,134
2013 5,779 58,833
2014 5,496 55,953
Thereafter 5,283 53,780
Total ¥79,170 $805,967
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, 2009 entitled the holders to subscribe to 15,986,394 shares, which was computed using the above-mentioned exercise price.
At March 31, 2009, the following assets were pledged as collateral for the long-term debt.
Millions of Yen
Thousands of
U.S. Dollars
2009 2009
Investment securities ¥4,309 $43,864
Liabilities secured by the above assets were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2009 2009
Long-term debt, including current portion ¥6,540 $66,578