Nikon 2012 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2012 Nikon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 66

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66

49
NIKON CORPORATION ANNUAL REPORT 2012
FINANCIAL SECTION
Millions of Yen Thousands of U.S. Dollars
March 31, 2012
Carrying
Amount
Fair
Value
Unrealized
Gain/Loss
Carrying
Amount
Fair
Value
Unrealized
Gain/Loss
Cash and cash equivalents ¥131,711 ¥131,711 ¥(0,000 $1,602,521 $1,602,521 $(00,000
Notes and accounts receivable—trade 132,866 132,866 1,616,568 1,616,568
Investment securities 43,839 43,839 533,391 533,391
Total ¥308,416 ¥308,416 ¥(0,000 $3,752,480 $3,752,480 $(00,000
Short-term borrowings ¥ 13,650 ¥ 13,650 $ 166,079 $ 166,079
Notes and accounts payable—trade 155,338 155,338 1,889,993 1,889,993
Long-term debt 27,600 27,877 ¥ (277) 335,807 339,179 $ (3,372)
Bonds 40,000 41,206 (1,206) 486,677 501,351 (14,674)
Accrued expenses 54,752 54,752 666,158 666,158
Income taxes payable 15,076 15,076 183,432 183,432
Derivatives (3,478) (3,478) (42,313) (42,313)
Total ¥302,938 ¥304,421 ¥(1,483) $3,685,833 $3,703,879 $(18,046)
Cash and cash equivalents:
The carrying values of cash and cash equivalents approximate
fair value because of their short maturities.
Notes and accounts receivable—trade:
The carrying values of notes and accounts receivable—trade
approximate fair value because of their short maturities.
Carrying amounts and fair values of notes and accounts
receivables—trade are the amounts after deduction of the
allowance for doubtful receivables.
Investment securities:
The fair values of investment securities are measured at the
quoted market price of the stock exchange. Investment securi-
ties whose fair value is not readily determinable (the carrying
values of ¥1,100 million as of March 31, 2011 and ¥1,058 million
($12,868 thousand) as of March 31, 2012) are excluded because
it is difficult to estimate the fair values and impossible to esti-
mate the future cash flows.
Note and accounts payable, short-term borrowings and
income tax payable:
The carrying values of those accounts approximate fair value
because of their short maturities.
Accrued expenses:
The carrying values of accrued expenses approximate fair
value because of their short maturities.
Long-term loans:
The fair values of long-term loans are determined by discount-
ing the future cash flows related to the loans at the rate
assumed based on yield of government bonds and credit
spread. Certain long-term loans with variable interest rates
are hedged items of interest rate swaps which qualify for
hedge accounting and meet specific matching criteria. The fair
value of such long-term loans with variable interest rates are
determined by discounting the principal and interest, as if the
interest rates under the interest rate swaps were originally
applied to the underlying at the rate assumed based on indices
such as yield of government bonds and credit spread.
Long-term loans are included in the current portion of
long-term debt.
Bonds:
The fair values of bonds are determined by the market price,
if it is available, or by discounting the future cash flows related
to the debt at the rate assumed based on interest rates on
government securities and credit risk.
Bonds are included in long-term debt in the consolidated
balance sheet.