Pioneer 2015 Annual Report Download - page 25

Derivative transactions to which hedge accounting is not applied as of March 31, 2015 and 2014
Millions of Yen Thousands of U.S. Dollars
2015 2015
Contract
Amount
Contract
Amount
Due After
1 Year Fair Value
Unrealized
(Loss) Gain
Contract
Amount
Contract
Amount
Due After
1 Year Fair Value
Unrealized
(Loss) Gain
Foreign currency forward
contracts:
Buying sterling pounds ¥5,082 – ¥ 29 ¥ 29 $42,350 – $ 242 $ 242
Selling U.S. dollars 1,518 – 11 11 12,650 – 91 91
Selling Australian dollars 270 – (6) (6) 2,250 – (50) (50)
Currency swap contracts:
Receiving Australian dollars,
paying U.S. dollars
938 – 107 107 7,817 – 892 892
Total ¥7,808 – ¥141 ¥141 $65,067 – $1,175 $1,175
Millions of Yen
2014
Contract
Amount
Contract
Amount
Due After
1 Year Fair Value
Unrealized
(Loss) Gain
Foreign currency forward
contracts:
Buying U.S. dollars ¥ 515 – ¥ (2) ¥ (2)
Buying sterling pounds 5,244 – (31) (31)
Selling U.S. dollars 3,151 – 3 3
Selling Australian dollars 557 – 12 12
Currency swap contracts:
Receiving Australian dollars,
paying U.S. dollars
674 – 6 6
Total ¥10,141 – ¥(12) ¥(12)
The fair value of foreign currency forward contracts is measured at the quoted price obtained from the forward
exchange market.
The fair value of currency swap contracts is measured at the quoted price obtained from the financial institutions.
Millions of Yen
March 31, 2015
Due in 1 Year
or Less
Due After 1 Year
Through 5 Years
Due After 5 Years
Through 10 Years
Due After
10 Years
Cash and cash equivalents ¥ 51,676 – – –
Time deposits 484 – – –
Trade receivables 79,158 – – –
Total ¥131,318 – – –
Thousands of U.S. Dollars
March 31, 2015
Due in 1 Year
or Less
Due After 1 Year
Through 5 Years
Due After 5 Years
Through 10 Years
Due After
10 Years
Cash and cash equivalents $ 430,633 – – –
Time deposits 4,033 – – –
Trade receivables 659,650 – – –
Total $1,094,316 – – –
(5) Maturity analysis for financial assets and securities with contractual maturities subsequent to March 31, 2015,
were as follows:
Please see Note 7 for annual maturities of long-term debt.
The Group enters into foreign currency forward con-
tracts to hedge foreign exchange risk associated with
certain assets and liabilities denominated in foreign
currencies. The Group also enters into currency swap
contracts to manage its interest rate exposure and
foreign currency exposure on certain liabilities.
All derivative transactions are entered into to
hedge foreign currency exposure. Accordingly, market
risk in these derivatives is basically offset by opposite
movements in the value of hedged assets or liabilities.
Because the counterparties to these derivatives
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 poli-
cies which regulate the authorization and credit limit
amount.
18. Derivatives
(b) Carrying amounts of financial instruments whose fair value cannot be reliably determined as of March 31, 2015
and 2014, were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2015 2014 2015
Investment in equity instruments that do not have a quoted market price in
an active market:
Unlisted securities ¥2,373 ¥ 275 $19,775
Unlisted associated securities 2,094 2,034 17,450
Total ¥4,467 ¥2,309 $37,225
46 Pioneer Corporation Annual Report 2015 47
Pioneer Corporation Annual Report 2015