Ricoh 1998 Annual Report Download - page 45

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10. LONG-TERM INDEBTEDNESS
Long-term indebtedness as of March 31, 1997 and 1998 consists of the following: Thousands of
U.S. dollars
1998
Millions of yen
(Per share)
Conversion
price
1997 1998
Convertible bonds—
1.9%, payable in yen, due March 1998
1.8%, payable in yen, due March 2002
1.5%, payable in yen, due March 2002
0.35%, payable in yen, due March 2003
0.4%, payable in yen, due September 2002, issued by a consolidated subsidiary
Total convertible bonds
Bonds—
7.0%, straight bonds, payable in yen, due January 2000
3.75%, straight bonds, payable in yen, due October 1999
2.9%, straight bonds, payable in yen, due August 2001
Medium-term notes, 0.4%–7.7%, due through 2002
Total bonds
Unsecured loans—
Banks and insurance companies, 0.6%–8.0%, due through 2012
Japanese government sponsored agencies, 2.9%, due through 2003
Total unsecured loans
Secured loans—
Banks and insurance companies, 1.1%–7.1%, due through 2020
Capital lease obligations (see Note 2 (f))
Total
Less—Current maturities included in current liabilities
¥1,264.40
824.70
993.00
1,210.00
2,296.00
¥ 29,827
1,852
37,292
39,768
10,000
118,739
50,257
15,000
10,000
29,642
104,899
259,727
263
259,990
22,304
2,873
508,805
(121,887)
¥386,918
¥—
1,490
33,434
30,254
10,000
75,178
50,164
15,000
10,000
29,355
104,519
195,470
—
195,470
17,881
3,784
396,832
(101,296)
¥ 295,536
$—
11,288
253,288
229,197
75,757
569,530
380,030
113,637
75,757
222,387
791,811
1,480,833
—
1,480,833
135,462
28,667
3,006,303
(767,394)
$ 2,238,909
Short-term borrowings as of March 31, 1997 and 1998 consist of the following:
Thousands of
U.S. dollars
1998
$ 1,589,932
516,992
$ 2,106,924
9. SHORT-TERM BORROWINGS AND TRADE NOTES RECEIVABLE DISCOUNTED WITH BANKS
Borrowings, principally from banks
Commercial paper and medium-term notes
Millions of yen
1998
¥209,871
68,243
¥278,114
¥168,505
44,288
¥212,793
1997
Weighted average
interest rate
1998
2.5%
1.9
2.5%
1.8
ing losses expire within a five-year period while the remainder principally
have an indefinite carryforward period.
however, there are no formal compensating balance agreements with any
banks. The weighted average interest rate on these time deposits was
0.3% as of March 31, 1998.
The Company and certain of its subsidiaries had unused lines of cred-
it amounting to ¥283,898 million ($2,150,742 thousand) of which
¥166,366 million ($1,260,348 thousand) related to commercial paper pro-
grams and medium-term notes at prevailing interest rates.
The Company and certain of its domestic subsidiaries regularly discount
trade notes receivable on a full recourse basis with banks. These trade
notes receivable discounted are contingent liabilities. The weighted aver-
age interest rates on these trade notes receivable discounted were 1.6%
and 1.5% as of March 31, 1997 and 1998, respectively.
As is the customary practice in Japan, certain subsidiaries have
substantial time deposits with banks from which they have short-term
borrowings, trade notes receivable discounted and/or long-term loans;
1997
($291,492 thousand), which were available to reduce future income taxes,
if any. Approximately ¥20,233 million ($153,280 thousand) of the operat-