Yamaha 2011 Annual Report Download - page 90

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88 Yamaha Corporation
Short-term and long-term loans payable, lease obligations, and guarantee deposit as of March 31, 2011 and 2010 were as follows:
Millions of yen
Thousands
U.S. dollars (Note 3)
2011 2010 2011
Short-term loans payable ¥ 6,597 ¥ 8,816 $ 79,339
Current portion of long-term loans payable 3,863 1,023 46,458
Current portion of lease obligations 30 37 361
Long-term loans payable 1,376 5,177 16,548
Lease obligations 254 285 3,055
Guarantee deposits 64 66 770
Total ¥12,188 ¥15,406 $146,578
The annual weighted-average interest rates applicable to above short-term loans payable and long-term debt at March 31, 2011 and 2010 were as
follows:
2011 2010
Short-term loans payable 1.7% 1.8%
Current portion of long-term loans payable 2.6% 1.8%
Long-term loans payable 2.3% 2.7%
Guarantee deposits 3.0% 3.0%
Note: The average interest rate shown above is the weighted average of the interest rates on loans calculated by using the balance of such obligations outstanding at the end of
the year. For lease obligations, no average interest rate is shown because the amounts in the consolidated balance sheets include the amounts corresponding to interest
paid from total lease payments.
For the middle-term financing purpose, the Company has line-of-credit arrangement with financial institutions at March 31, 2011 and 2010 for a
maximum amount of ¥9,200 million ($110,643 thousand) and ¥20,000 million, respectively. At March 31, 2011, there were no borrowings outstand-
ing under these commitment lines.
The assets pledged as collateral for long-term loans payable and certain other current liabilities at March 31, 2011 and 2010 were as follows:
Millions of yen
Thousands
U.S. dollars (Note 3)
2011 2010 2011
Short-term investment securities ¥450 ¥ 370 $5,412
Property, plant and equipment, net of accumulated depreciation — 207 —
Investment securities 200 450 2,405
¥650 ¥1,028 $7,817
The above assets were pledged as collateral for “Advances received” of ¥617 million ($7,420 thousand) at March 31, 2011, and for “Short-term
loans payable” of ¥35 million and “Advances received” of ¥986 million at March 31, 2010.
None
29. Short-Term Loans Payable and Long-Term Debt
30. Subsequent Events