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77
Annual Report 2011
(c) Estimated fair value of financial instruments
Carrying value on the consolidated balance sheets as of March 31, 2011 and 2010, and difference between carrying value and estimated fair value,
are shown in the following table. The following table does not include financial instruments for which it is extremely difficult to determine the fair
value. See Note (ii) below:
Millions of yen Thousands of U.S. dollars (Note 3)
As of March 31, 2011 Carrying value*1
Estimated
fair value*1Difference Carrying value*1
Estimated
fair value*1Difference
Cash and deposits ¥57,210 ¥57,210 ¥— $688,034 $688,034 $—
Notes and accounts receivable — trade 46,486 46,486 — 559,062 559,062 —
Short-term investment securities
Held-to-maturity securities 460 460 05,532 5,532 0
Others (Negotiable deposits) 1,500 1,500 — 18,040 18,040 —
Investment securities
Held-to-maturity securities 200 199 (0) 2,405 2,393 (0)
Available-for-sale securities 71,470 71,470 — 859,531 859,531 —
Notes and accounts payable — trade (24,198) (24,198) — (291,016) (291,016) —
Accounts payable — other and accrued expenses
(28,657) (28,657) — (344,642) (344,642) —
Derivatives*2(413) (413) — (4,967) (4,967) —
Millions of yen
As of March 31, 2010 Carrying value*1
Estimated
fair value*1Difference
Cash and deposits ¥59,407 ¥59,407 ¥—
Notes and accounts receivable — trade 48,911 48,911 —
Short-term investment securities
and investment securities
Held-to-maturity securities 1,130 1,132 1
Available-for-sale securities 72,780 72,780 —
Notes and accounts payable — trade
(21,791) (21,791) —
Accounts payable — other and accrued expenses
(32,496) (32,496) —
Derivatives*2(271) (271) —
*1. Figures shown in parentheses are liability items.
*2. The value of assets and liabilities arising from derivatives is shown at net value, with net liability position shown in parentheses.
Notes:
(i) Methods for computing the estimated fair value of financial instruments, securities and derivative transactions
Cash and deposits and notes and accounts receivable — trade
Since these items are settled in a short period of time, the carrying value approximates fair value.
Short-term investment securities and investment securities
The fair value of stocks is based on quoted market prices. The fair value of debt securities is based on either quoted market price or prices
provided by the financial institutions making markets in these securities. Regarding negotiable deposits, since they are settled in a short period of
time, the carrying value approximates fair value. Information on securities classified by holding purpose are described in Note 21.
Notes and accounts payable — trade and accounts payable — other and accrued expenses
Since these items are settled in a short period of time, the carrying value approximates fair value.
Derivatives Transactions
See Note 22.