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42 O LYMPUS 2 00 5
·Dividends are approved by the shareholders’ meeting held subsequent to the statutory fiscal period to which the dividends are payable to
shareholders of record at the end of such a fiscal period.
·Semi-annual dividends are approved by the Board of Directors after the end of each first six-month period to which the dividends are
payable to shareholders of record at the end of the interim six-month period.
12. CO NTINGENT LIABILITIES
The Company and its consolidated subsidiaries were contingently liable for notes and bills discounted of ¥1 ,9 59 million ($17,809 thousand)
and endorsed of ¥2 68 million ($2,4 3 6 thousand) as of March 3 1 , 2005. As o f March 3 1, 2005, the Company and its consolidated sub-
sidiaries were also contingently liable as guarantors of borrowings, primarily for housing loans to employees, amounting to ¥582 million
($5,291 thousand), and secondly for borrowing from bank to subsidiaries, amo unting to ¥534 millio n ($4,855 thousand).
13. PLEDGED ASSETS
The following assets were pledged as collateral for short-term borrowings, long-term debt and security deposits as o f March 3 1, 2005 and
2004:
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
Cash and time deposits............................................................................................ ¥1,844 —$16,764
Land .................................................................................................................. 194 ¥ 78 1,764
Buildings and structures ........................................................................................... 3,973 2,54 6 36,118
Machinery and equipment........................................................................................ 43 —391
Investment securities................................................................................................ 100 —909
Lease deposits and other.......................................................................................... 30 —272
¥6,184 ¥2,624 $5 6,218
The obligations secured by such collateral were as follows:
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
Long-term debt........................................................................................................ ¥5,309 ¥2,453 $4 8,264
Short-term borrowings.............................................................................................. 221 —2,009
.................................................................................................................. ¥5,530 ¥2 ,453 $50,273
14. CASH AND CASH EQ UIVALENTS
Reconciliations of cash and time depo sits shown in the consolidated balance sheets and cash and cash equivalents shown in the co nsolidated
statements of cash flows as of March 31, 20 0 5 and 2 004 were as fo llows:
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
Cash and time deposits............................................................................................ ¥120,4 16 ¥114 ,839 $1,0 94,691
Less: Time deposits with maturities over three months..................................................... (6,80 1) (45,744) (61,827)
Cash equivalents included in marketable securities ....................................................... 10 —9 1
Cash and cash equivalents ....................................................................................... ¥113,625 ¥69,095 $1 ,032,955