Ricoh 2004 Annual Report Download - page 43

Secured loans are collateralized by land, buildings and lease receivables
with a book value of ¥3,468 million ($33,346 thousand) as of March 31,
2004.
All bonds outstanding as of March 31, 2004 are redeemable at the
option of Ricoh at 100% of the principal amounts under certain conditions
as provided in the applicable agreements.
Bonds are subject to certain covenants such as restrictions on certain
additional secured indebtedness, as defined in the agreements. Ricoh
presently is in compliance with such covenants as of March 31, 2004.
Certain loan agreements provide, among other things, that the lender
may request the Company to submit proposals for appropriations of
earnings (including payment of dividends) to the lender for its review and
approval prior to presentation to the shareholders. The Company has never
been requested to submit 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, among other things,
that the banks may request additional security for these loans if there is
reasonable and probable cause and may treat any security furnished to the
banks as well as cash deposited as security for all present and future
indebtedness. The Company has never been requested to submit such
additional security.
The aggregate annual maturities of long-term indebtedness subsequent
to March 31, 2004 are as follows:
42
Thousands of
U.S. dollars
2004
Millions of yen
2003
2004
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
0.9%, straight bonds, payable in yen, due June 2003 issued by a consolidated subsidiary
1.1%, straight bonds, payable in yen, due February 2004 issued by a consolidated subsidiary
1.17%, straight bonds, payable in yen, due June 2004 issued by a consolidated subsidiary
0.73%, straight bonds, payable in yen, due June 2006 issued by a consolidated subsidiary
0.7%, straight bonds, payable in yen, due June 2007 issued by a consolidated subsidiary
2.1%, straight bonds, payable in yen, due October 2009 issued by a consolidated subsidiary
Medium-term notes, 0.28% weighted average, due through 2015 issued by a consolidated
subsidiary
Total bonds
Unsecured loans—
Banks and insurance companies, 1.42% weighted average, due through 2011
Secured loans—
Banks, insurance companies and other financial institution, 1.25% weighted average,
due through 2013
Capital lease obligations (see Note 2 (j))
Total
SFAS No. 133 fair value adjustment
Less—Current maturities included in current liabilities
¥ 40,000
35,000
25,000
5,000
9,910
10,000
10,000
10,000
10,000
24,000
178,910
210,042
2,553
4,237
395,742
4,395
(54,235)
¥345,902
¥ 40,000
35,000
25,000
—
—
10,000
10,000
10,000
10,000
16,000
156,000
200,361
1,410
3,141
360,912
2,868
(82,210)
¥281,570
$ 384,615
336,538
240,385
—
—
96,154
96,154
96,154
96,154
153,846
1,500,000
1,926,548
13,558
30,202
3,470,308
27,577
(790,481)
$2,707,404
Thousands of
U.S. dollars
2005
2006
2007
2008
2009
2010 and thereafter
Total
$
787,914
1,257,164
683,038
287,375
251,625
203,192
$ 3,470,308
Millions of yen
¥
81,943
130,745
71,036
29,887
26,169
21,132
¥ 360,912
Years ending March 31
10. LONG-TERM INDEBTEDNESS
Long-term indebtedness as of March 31, 2003 and 2004 consists of the followings: