Sharp 2004 Annual Report Download - page 43

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Sharp Annual Report 2004 41
The following is a summary of the terms of conversion and redemption of the convertible bonds:
1.60% Bonds, due 2004 ¥1,554.00 At 106% to 100% of principal after September 30, 1997,
decreasing 1% annually
Redemption at the option of the CompanyConversion price
The conversion price of bonds is subject to adjustment for
certain subsequent events such as the issue of common
stock at less than fair value and stock splits.
If all convertible bonds were converted as of March 31,
2004, 17,335 thousand shares of common stock would be
issuable.
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 security and
guarantees for present and future indebtedness will be
given upon request of the bank, and that any collateral so
furnished will be applicable to all indebtedness to that
bank. To date, the Company has not received such
requests from its banks. In addition, the agreements
provide that the bank has the right to offset cash deposited
against any short-term or long-term debt that becomes
due, and in case of default and certain other specified
events, against all other debts payable to the bank.
The aggregate annual maturities of long-term debt as of March 31, 2004 were as follows:
2006 ............................................................................................................................................
2007 ............................................................................................................................................
2008 ............................................................................................................................................
2009 ............................................................................................................................................
2010 and thereafter......................................................................................................................
$ 822,590
145,409
849,000
252,610
80,629
$ 2,150,238
¥ 86,372
15,268
89,145
26,524
8,466
¥ 225,775
U.S. Dollars
(thousands)
Yen
(millions)
Year ending March 31
Lease payments ............................................................................................ $ 138,829 ¥ 14,577 ¥ 14,496
(2) Lease payments
6. Leases
Finance leases
(a) As lessee
(1) Future minimum lease payments
Due within one year .......................................................................................
Due after one year .........................................................................................
$ 762,257
1,490,686
$ 2,252,943
¥ 80,037
156,522
¥ 236,559
¥ 77,772
149,904
¥ 227,676
200420042003
Yen
(millions) U.S. Dollars
(thousands)
200420042003
Yen
(millions) U.S. Dollars
(thousands)
Information relating to finance leases, excluding those leases for which the ownership of the leased assets is considered to
be transferred to the lessee, as of, and for the years ended March 31, 2003 and 2004, is as follows: