Nokia 2015 Annual Report Download - page 174
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172 NOKIA IN 2015
Notes to consolidated nancial statements continued
33. Principal Group companies
The Group’s signicant subsidiaries at December 31, 2015:
Company name
Country of incorporation
and place of business Primary nature of business
Parent holding
%
Group ownership
interest
%
Nokia Solutions and Networks B.V. The Hague, Netherlands Holding company –100.0
Nokia Solutions and Networks Oy Helsinki, Finland Sales and manufacturing company –100.0
Nokia Solutions and Networks US LLC Delaware, USA Sales company –100.0
Nokia Solutions and Networks Japan Corp. Tokyo, Japan Sales company –100.0
Nokia Solutions and Networks India
Private Limited New Delhi, India Sales and manufacturing company –100.0
Nokia Solutions and Networks System
Technology (Beijing) Co., Ltd. Beijing, China Sales company –100.0
Nokia Solutions and Networks Branch
Operations Oy Helsinki, Finland Sales company –100.0
PT Nokia Solutions and Networks
Indonesia Jakarta, Indonesia Sales company –100.0
Nokia Solutions and Networks Taiwan
Co.,Ltd. Taipei, Taiwan Sales company –100.0
Nokia Solutions and Networks Korea Ltd. Seoul, South Korea Sales company –100.0
Nokia Finance International B.V. Haarlem, Netherlands Holding company 100.0 100.0
Nokia Technologies Oy Helsinki, Finland Sales and development company 100.0 100.0
34. Related party transactions
The Group has related party transactions with a pension fund, associated companies and joint ventures, and the management and the Board of
Directors. Transactions and balances with companies over which the Group exercises control are eliminated on consolidation. Refer to Note 1,
Accounting principles, and Note 33, Principal Group companies.
Transactions with pension fund
The Group has borrowings amounting to EUR69million (EUR69million in 2014) from Nokia Unterstützungsgesellschaft GmbH, the Group’s
German pension fund, a separate legal entity. The loan bears interest at the rate of 6%per annum and its duration is pending until further
notice by the loan counterparties even though they have the right to terminate the loan with a 90-day notice. The loan is included in long-term
interest-bearing liabilities in the consolidated statement of nancial position.
Transactions with associated companies and joint ventures
EURm 2015 2014 2013
Share of results income/(expense) 29 (12) 4
Dividend income 2 – 5
Share of shareholders' equity 84 51 53
Sales (1) 1 6
Purchases (233) (305) (178)
Payables (37) (35) (12)
The Group has guaranteed a loan of EUR15million (EUR13million in 2014) for an associated company.