ANNUAL REPORT

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The maximum exposure to credit risk for current trade and other receivables at March 31, 2009 by geographic region was: (in JPY millions) 2009 Japan 16,840 Europe 9,108 Americas 9,481 Asia 2,064 Others 15 Total 37,508 The maximum exposure to credit risk for current trade and other receivables at March 31, 2009 by type of counterparty was: (in JPY millions) 2009 OEM 28,361 End-user customers 3,952 Wholesale customers 3,446 Others 1,749 Total 37,508 30.1.3. Impairment losses An allowance for impairment is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables. The allowances for doubtful accounts are estimated by the management of the respective consolidated businesses based on the prior credit loss experience and the current economic environment. The allowance for impairment recognized during the period per classes of financial assets was as follows: (in JPY millions) 2009 2008 Trade receivable and prepayments Other receivable Other financial assets Total Trade receivable and prepayments Other receivable Opening balance (588) - - (588) (1,974) (1) (1,975) Impairment losses (259) (331) (1,258) (1,848) (51) - (51) Reversal of write-off on doubtful accounts 29 - - 29 639 - 639 Derecognition 47 - - 47 19 1 20 Collection from customers - - - - 95 - 95 Effect of movement in exchange rates 21 - - 21 - - - Transfer to assets held for sale or discontinued operations Total - - - - 684 - 684 Closing balance (750) (331) (1,258) (2,339) (588) - (588) The aging of current trade and other receivables at March 31, 2009 was: (in JPY millions) 2009 Not past due 34,348 Past due 0 - 30 days 1,921 Past due 31 - 120 days 805 Past due 121 - 365 days 289 Past due more than 1 year 145 Total 37,508 88
FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED MARCH 31, 2009 30.2. Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to ensure, as far as possible that it will always have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. The contractual maturities of non-derivative financial liabilities, and related derivative financial assets and liabilities are as follows (interest included): (in JPY millions) 2009 2008 Non-derivative financial liabilities Contractual cash-flows Less than one year Between one and five years More than five years Contractual cash-flows Less than one year Between one and five years More than five years Bank loans (231,815) (31,121) (163,034) (37,660) (209,754) (28,653) (100,184) (80,917) Finance lease liabilities (5,094) (2,340) (2,662) (92) (5,668) (2,249) (3,206) (213) Other loans (12,021) (2,947) (3,845) (5,229) (2,434) (544) (1,860) (30) Trade and other payables (65,002) (61,708) (2,505) (790) (99,312) (97,536) (1,252) (524) Derivative financial liabilities Foreign exchange derivatives (313,933) (98,116) (172,046) (43,771) (317,168) (129,982) (106,502) (81,684) Inflow - - - - 12 12 - - Outflow - - - - (9) (9) - - Interest rate derivatives Inflow 286 286 - - - - - - Outflow (735) (735) - - - - - - Commodity derivatives Inflow 8 8 - - - - - - Outflow (142) (142) - - - - - - (583) (583) - - 3 3 - - Total (314,516) (98,699) (172,046) (43,771) (317,165) (128,979) (106,502) (81,684) At March 31, 2009, RHJI had JPY 58,726 million available to pursue its business strategy and had no indebtedness at the parent company level. RHJI’s businesses have access to financing by obtaining credit lines on their own merits. Except for a guarantee of up to JPY 3,400 million certain pledges of shares as disclosed in note 25 to the consolidated financial statements and a commitment of JPY 1,300 million (EUR 10 million) to fund a backstop facility to the benefit of Honsel, the businesses and their lenders generally do not benefit from any guarantee from RHJI. 89
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ANNUAL REPORT Year Ended March 31,
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PART I LETTER TO SHAREHOLDERS AND B
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Support to our portfolio companies
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The evolution of the book value of
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Consolidated Financial Statements F
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Asahi Tec Corporation • Headquart
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RHJI's purchase agreement to buy ce
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Honsel International Technologies S
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Niles Co., Ltd. • Headquarters: J
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Columbia Music Entertainment, Inc.
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Phoenix Resort K.K. • Headquarter
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Shaklee Global Group, Inc. • Indu
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PART II FINANCIAL STATEMENTS FOR TH
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FINANCIAL STATEMENTS FOR THE FISCAL
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ANNUAL REPORT

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