Nintendo 2004 Annual Report Download - page 49

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The aggregate maturities of Held-to-maturity debt securities in Short-term investments and Investments in securities as of March
31, 2004 and 2003 were as follows;
Book value of non-marketable securities in Short-term investments and Investments in securities as of March 31, 2004 and 2003
were summarized as follows;
Only the Company enters into foreign exchange forward contracts and currency option contracts.
It is the Company’s policy to enter into derivative transactions within the limits of foreign currency deposits, and not for
speculative purposes.
The Company has foreign exchange forward contracts to reduce risk of exchange rate fluctuations and currency option
contracts to reduce risk of exchange rate fluctuations and yield improvement of short-term financial assets.
Foreign exchange forward contracts and currency option contracts bear risks resulting from exchange rate fluctuations.
Counterparties to derivative transactions are limited to high confidence level financial institutions. The Company does not
anticipate any risk due to default.
Derivative transactions entered into by the Company are made only by the treasury department under approval by the
president and a director in charge of those transactions.
Note 4. Derivatives
Losses incurred from the application of the lower of cost or market valuation of inventories have been charged to cost of sales
in the accompanying consolidated statements of income. These losses amounted to ¥9,492 million ($90,396 thousand) and
¥12,515 million ($119,189 thousand) for the years ended March 31, 2004 and 2003, respectively.
Note 5. Inventories
(1) Held-to-maturity debt securities
Commercial paper
(2) Other securities
Preferred subscription certificate
Unlisted bonds
Due within one year
Due after one year
through five years
47
Nintendo Co., Ltd. and consolidated subsidiaries
The Company had no derivative contracts outstanding at March 31, 2004 and 2003.
17,375
11,000
3,537
8,266
11,000
6,000
165,476
104,762
33,682
78,725
104,762
57,143
Japanese Yen in Millions
¥
2004 2003
U.S. Dollars in Thousands (Note 1)
$
2004 2003
As of March 31,
As of March 31,
17,375
7,890
8,266
6,000
165,476
75,146
78,725
57,143
Japanese Yen in Millions
¥
2004 2003
U.S. Dollars in Thousands (Note 1)
$
2004 2003