Ricoh 2005 Annual Report Download - page 43

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ANNUAL REPORT 2005
To Our Shareholders
and Customers
Review of Operations
(General Information by Business Area)
Technology Corporate Social
Responsibility Environment Financial Section
1 0 . LONG-TERM INDEBTEDNESS
Long-term indebtedness as of March 31, 2004 and 2005 consists of the followings:
Thousands of
Millions of Yen U.S. Dollars
2004 2005 2005
Bonds-
2.075%, straight bonds, payable in yen, due April 2005 ¥ 40,000 ¥ 40,000 $373,832
0.87%, straight bonds, payable in yen, due March 2007 35,000 35,000 327,103
1.34%, straight bonds, payable in yen, due March 2009 25,000 25,000 233,645
1.17%, straight bonds, payable in yen, due June 2004 issued by a consolidated subsidiary 10,000 – –
0.73%, straight bonds, payable in yen, due June 2006 issued by a consolidated subsidiary 10,000 10,000 93,458
0.70%, straight bonds, payable in yen, due June 2007 issued by a consolidated subsidiary 10,000 10,000 93,458
2.10%, straight bonds, payable in yen, due October 2009 issued by a consolidated subsidiary 10,000 10,000 93,458
Medium-term notes, 0.30% weighted average, due through 2015 issued by a consolidated subsidiary 16,000 22,000 205,607
Total bonds 156,000 152,000 1,420,561
Unsecured loans-
Banks and insurance companies,
1.37% weighted average, due through 2011 200,361 212,416 1,985,196
Secured loans-
Banks, insurance companies and other financial institution, 1.09% weighted average,
due through 2013 1,410 1,133 10,589
Capital lease obligations ( see Note 2(j)) 3,141 3,804 35,551
Total 360,912 369,353 3,451,897
SFAS 133 fair value adjustment 2,868 2,022 18,898
Less- Current maturities included in current liabilities (82,210) (144,808) (1,353,346)
¥281,570 ¥226,567 $2,117,449
Secured loans are collateralized by land, buildings and lease receivables
with a book value of ¥3,312 million ( $30,953 thousand) as of March
31, 2005.
All bonds outstanding as of March 31, 2005 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, 2005.
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, 2005 are as follows:
Thousands of
Years ending March 31 Millions of Yen U.S. Dollars
2006 ¥144,572 $1,351,140
2007 100,418 938,486
2008 54,105 505,654
2009 34,105 318,738
2010 34,561 323,000
2011 and thereafter 1,592 14,879
Total ¥369,353 $3,451,897