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15. Derivatives
The Group enters into derivative contracts, including foreign
exchange forward contracts, currency option contracts, foreign cur-
rency swap contracts and interest rate swap contracts to hedge for-
eign exchange risk and interest rate exposures. The Group does not
hold or issue derivatives for trading purposes. Derivatives are sub-
ject to market risk and credit risk. Market risk is the exposure cre-
ated by potential fluctuations in market conditions, including
changes in interest or foreign exchange rates. Credit risk is the pos-
sibility that a loss may result from a counterparty’s failure to per-
form according to the terms and conditions of the contract.
Because the counterparties to the Group’s derivative contracts are
limited to major international financial institutions, the Group does
not anticipate any losses arising from credit risk.
Derivative transactions entered into by the Group have been
made in accordance with internal policies that regulate the authori-
zation and credit limit amount.
(4) Maturity Analysis for Financial Assets and Securities with Contractual Maturities
Millions of Yen
March 31, 2013 Due in One Year or Less
Due after One Year
through Five Years
Cash and cash equivalents ¥110,095 ¥
Notes and accounts receivable 134,225
Total ¥244,320 ¥
Millions of Yen Thousands of U.S. Dollars
March 31, 2014 Due in One Year or Less
Due after One Year
through Five Years Due in One Year or Less
Due after One Year
through Five Years
Cash and cash equivalents ¥221,368 ¥ $2,150,872 $
Notes and accounts receivable 128,443 1,247,993
Total ¥349,811 ¥ $3,398,865 $
FINANCIAL INFORMATION
Notes to Consolidated Financial Statements
72 NIKON REPORT 2014