Pioneer 2016 Annual Report Download - page 47

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Millions of Yen Thousands of U.S. Dollars
2016 2016
Carrying
Amount Fair Value
Unrealized
Gain
Carrying
Amount Fair Value
Unrealized
Gain
Cash and cash equivalents ¥ 51,993 ¥ 51,993 – $ 460,115 $ 460,115 –
Receivables:
Trade receivables 74,596 74,596 – 660,141 660,141 –
Allowance for doubtful receivables (*1) (3,308) (3,308) – (29,274) (29,274) –
123,281 123,281 – 1,090,982 1,090,982 –
Investment securities:
Available-for-sale securities 1,730 1,730 – 15,310 15,310 –
Total ¥125,011 ¥125,011 – $1,106,292 $1,106,292 –
Short-term borrowings ¥ 12,257 ¥ 12,257 – $ 108,469 $ 108,469 –
Current portion of long-term debt 971 971 – 8,593 8,593 –
Trade payables 69,821 69,821 – 617,885 617,885 –
Income taxes payable 2,031 2,031 –17,973 17,973 –
Convertible bonds 15,071 15,421 ¥350 133,372 136,469 $3,097
Long-term debt 10,697 10,697 – 94,664 94,664 –
Total ¥110,848 ¥111,198 ¥350 $ 980,956 $ 984,053 $3,097
Derivative transactions (*2) ¥ (603) ¥ (603) – $ (5,336) $ (5,336) –
(a) Fair values of financial instruments as of March 31, 2016 and 2015, were as follows:
*1. Allowance for doubtful receivables corresponding to trade receivables is deducted.
*2. Derivative transactions show the net amount after offsetting the receivables and payables.
Liquidity risk management
Liquidity risk comprises the risk that the Group can-
not meet its contractual obligations in full on maturity
dates. The Company manages its liquidity risk by
holding adequate volumes of liquid assets, along with
adequate financial planning by the corporate treas-
ury department based on the liquidity requirement
schedule from each department.
(4) Fair values of financial instruments
Fair values of financial instruments are based on
quoted prices in active markets. If quoted prices
are not available, other rational valuation techniques
are used instead. Different assumptions may lead to
different fair values, since varying elements are incor-
porated in calculating the fair value. As for contract
amount or any other information disclosed in Note 16,
the amount itself does not indicate the market risk in
relation to derivative transactions.
45
Pioneer Corporation Annual Report 2016