Ricoh 2002 Annual Report Download - page 45

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Secured loans are collateralized by land, buildings and lease receivables with
a book value of ¥8,728 m illion ( $65,624 thousand) as of March 31, 2002.
The convertible bonds are convertible into comm on stock at the option of the
holders, currently at applicable conversion prices per share as listed in the above
table. These conversion prices are subject to adjustm ent in certain events includ-
ing subsequent stock splits and shares subsequently issued at less than market
value.
The convertible bonds and som e straight bonds outstanding as of March 31,
2002 are redeem able at the option of Ricoh at 100% of the principal am ounts un-
der certain conditions as provided in the applicable agreements.
If all convertible bonds of the Com pany were converted as of March 31, 2002,
24,699 thousand shares of com mon stock would be issuable.
Convertible bonds and the other bonds are subject to certain covenants such
as restrictions on earnings and certain additional secured indebtedness, as de-
fined in the agreements. Ricoh presently estim ates that none of such covenants
would be applicable to the outstanding bonds.
Certain loan agreements provide, among other things, that the lender m ay
request the Company to subm it proposals for appropriations of earnings ( includ-
ing paym ent of dividends) to the lender for its review and approval prior to pre-
sentation to the shareholders. The Company has never been requested to subm it
such proposals for approval. In addition, as is customary in Japan, substantially
all of the bank borrowings are subject to general agreements with each bank
which provide, am ong other things, that the banks m ay request additional securi-
ty for these loans if there is reasonable and probable cause and m ay treat any se-
curity furnished to the banks as well as cash deposited as security for all present
and future indebtedness. The Com pany has never been requested to subm it such
additional security.
The aggregate annual maturities of long-term indebtedness subsequent to
March 31, 2002 are as follows:
Thousands of
U.S. dollars
2003
2004
2005
2006
2007
2008 and thereafter
Total
$ 5 0 4 ,2 2 6
4 2 3 ,0 3 0
5 3 8 ,3 7 6
7 0 1 ,8 3 5
4 1 4 ,6 1 6
4 0 0 ,3 2 3
$ 2 ,9 8 2 ,4 0 6
Millions of yen
¥ 6 7 ,0 6 2
5 6 ,2 6 3
7 1 ,6 0 4
9 3 ,3 4 4
5 5 ,1 4 4
5 3 ,2 4 3
¥ 3 9 6 ,6 6 0
Years ending March 31
1 0 . LONG-TERM INDEBTEDNESS
Long-term indebtedness as of March 31, 2001 and 2002 consists of the following:
Thousands of
U.S. dollars
2 0 0 2
Millions of yen
( Per share)
Conversion
price
2001
2 0 0 2
Convertible bonds—
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—
2.075%, straight bonds, payable in yen, due April 2005
0.87%, straight bonds, payable in yen, due March 2007
1.34%, straight bonds, payable in yen, due March 2009
2.9%, straight bonds, payable in yen, due August 2001 issued by a consolidated subsidiary
0.9%, straight bonds, payable in yen, due June 2003 issued by a consolidated subsidiary
1.17%, straight bonds, payable in yen, due June 2004 issued by a consolidated subsidiary
1.1%, straight bonds, payable in yen, due February 2004 issued by a consolidated subsidiary
0.73%, straight bonds, payable in yen, due June 2006 issued by a consolidated subsidiary
2.1%, straight bonds, payable in yen, due October 2009 issued by a consolidated subsidiary
Medium -term notes, 0.06%– 3.89%, due through 2005 issued by a consolidated subsidiary
Total bonds
Unsecured loans—
Banks and insurance companies, 0.22%– 11.60%, due through 2011
Secured loans—
Banks, insurance companies, and other financial institution, 0%– 3.50%, due through 2020
Capital lease obligations ( see Note 2 ( g) )
Total
SFAS No.133 fair value adjustm ent
Less— Current m aturities included in current liabilities
¥ 824.70
993.00
1,210.00
1,594.40
¥ 1,298
32,764
29,889
5,764
69,715
40,000
—
—
10,000
5,000
10,000
10,000
—
10,000
1,239
86,239
174,365
9,522
3,317
343,158
—
( 125,415)
¥217,743
¥ —
—
2 9 ,8 8 6
4 ,1 6 3
3 4 ,0 4 9
4 0 ,0 0 0
3 5 ,0 0 0
2 5 ,0 0 0
—
5 ,0 0 0
1 0 ,0 0 0
1 0 ,0 0 0
1 0 ,0 0 0
1 0 ,0 0 0
3 9 ,1 6 2
1 8 4 ,1 6 2
1 7 0 ,5 3 7
4 ,7 9 9
3 ,1 1 3
3 9 6 ,6 6 0
3 ,6 4 9
( 6 7 ,3 1 4 )
¥332,995
$ —
—
2 2 4 ,7 0 7
3 1 ,3 0 1
2 5 6 ,0 0 8
3 0 0 ,7 5 2
2 6 3 ,1 5 8
1 8 7 ,9 7 0
—
3 7 ,5 9 4
7 5 ,1 8 8
7 5 ,1 8 8
7 5 ,1 8 8
7 5 ,1 8 8
2 9 4 ,4 5 1
1 ,3 8 4 ,6 7 7
1 ,2 8 2 ,2 3 3
3 6 ,0 8 2
2 3 ,4 0 6
2 ,9 8 2 ,4 0 6
2 7 ,4 3 6
( 5 0 6 ,1 2 0 )
$ 2 ,5 0 3 ,7 2 2