Olympus 2004 Annual Report Download - page 41

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O LYMPUS 2 0 0 4 3 9
3 . NO TES AND ACCO UNTS RECEIVABLE
Notes and accounts receivable as o f March 3 1 , 2004 and 2 0 0 3, co nsisted of the following:
Thousands of
M illions of yen U.S. dollars
2 0 0 4 2 0 0 3 2 0 0 4
Unconsolidated subsidiaries and affiliates ................................................................... ¥ 2 ,151 ¥ 1 ,7 01 $ 19 ,5 5 5
Trade .................................................................................................................. 115,535 102,489 1 , 0 5 0 ,3 1 8
To tal ¥117,686 ¥ 1 0 4 , 1 9 0 $ 1 ,0 6 9 ,8 7 3
4 . IN VENTO RIES
Invento ries as of March 31, 200 4 and 2 003, consisted o f the fo llo wing:
Thousands of
M illions of yen U.S. dollars
2 0 0 4 2 0 0 3 2 0 0 4
Finished goods....................................................................................................... ¥56,514 ¥53,425 $513,764
Work in process and raw materials............................................................................ 30,931 23,741 2 8 1 , 1 9 1
To tal ¥87,445 ¥77,166 $794,955
5 . SHO RT-TERM BO RRO W IN G S
Short-term bo rro wings, which co nsist principally of bank accepta nces payable in foreign currencies, are due in 1 to 1 80 days. The annual
interest rates on these bo rro wings ranged fro m 0.57% to 13.00 % and from 0 .57% to 7 .19% as o f March 3 1 , 2004 and 2 0 0 3, respectively.
Bank acceptances payable o f ¥1 ,5 3 2 million ($ 1 3 ,9 2 7 thousand) were secured by certain trade acco unts receivable and inventories as o f
March 3 1 , 2 0 0 4 .
As is custo mary in Japan, substantially all bank bo rro wings, including acceptances payable, are subject to g eneral ag reements with each
bank which pro vide, amo ng other things, that the ba nks may, under certain circumstances, require additio nal security fo r such loans and may
treat any security furnished to the ba nks, as well as cash deposited with them, as security for all present and future indebtedness. The
Co mpany and its subsidiaries have never been requested to submit such a dditional security.
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