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Notes to Consolidated Financial Statements 7. INVENTORIES Inventories at March 31, 2012 and 2011 consist of the following: Millions of yen Thousands of U.S. dollars 2012 2011 2012 Merchandise and finished goods................................................................ ¥ 87,257 ¥ 81,830 $1,061,650 Work in process......................................................................................... 122,897 118,148 1,495,279 Raw materials and supplies........................................................................ 99,932 86,541 1,215,866 ¥310,086 ¥286,519 $3,772,795 8. INTEREST-BEARING LIABILITIES (1) Short-term debt and bonds in current liabilities at March 31, 2012 and 2011 consist of the following: Millions of yen Thousands of U.S. dollars 2012 2011 2012 Short-term debt, principally from banks (with a weighted-average interest rate of 1.18% at March 31, 2012)........ ¥112,437 ¥ 74,019 $1,368,013 Current portion of long-term debt, principally from banks and insurance companies (with a weighted-average interest rate of 0.98% at March 31, 2012)................................................................................... 27,627 7,838 336,136 Current portion of bonds, interest rate of 1.209%-1.51%........................... 20,000 35,000 243,339 ¥160,064 ¥116,857 $1,947,488 (2) Bonds and long-term debt at March 31, 2012 and 2011 consists of the following: Millions of yen Thousands of U.S. dollars 2012 2011 2012 Unsecured bonds, due 2011 to 2017, interest rate of 0.479%-1.75%........ ¥ 71,850 ¥ 95,000 $ 874,194 Long-term debt, principally from banks and insurance companies, due 2011–2021 (with a weighted-average interest rate of 0.96% at March 31, 2012)................................................................................... 178,235 171,428 2,168,573 250,085 266,428 3,042,767 Current portion of bonds and long-term debt............................................. (47,627) (42,838) (579,475) ¥202,458 ¥223,590 $2,463,292 56 SUMITOMO ELECTRIC Annual Report 2012
Notes to Consolidated Financial Statements The aggregate annual maturities of bonds and long-term debt at March 31, 2012 are as follows: (Bonds) Thousands of March 31 Millions of yen U.S. dollars 2013 (=current portion).............. ¥20,000 $243,339 2014.......................................... 20,000 243,339 2015.......................................... 10,620 129,213 2016.......................................... 10,620 129,213 2017.......................................... 10,610 129,090 2018 and thereafter.................... — — ¥71,850 $874,194 (Long-term debt) March 31 Millions of yen Thousands of U.S. dollars 2013 (=current portion).............. ¥ 27,627 $ 336,136 2014.......................................... 20,017 243,545 2015.......................................... 67,378 819,783 2016.......................................... 10,913 132,778 2017.......................................... 22,300 271,323 2018 and thereafter.................... 30,000 365,008 ¥178,235 $2,168,573 The following assets were pledged as collateral for shortterm debt and long-term debt, including current portion, at March 31, 2012 and 2011. Thousands of Millions of yen U.S. dollars 2012 2011 2012 Investment securities......... ¥6,580 ¥6,845 $ 80,059 Property, plant and equipment, net of accumulated depreciation.................... 2,068 2,200 25,161 ¥8,648 ¥9,045 $105,220 (3) Lease obligations The aggregate annual maturities of lease obligations at March 31, 2012 are as follows: Thousands of March 31 Millions of yen U.S. dollars 2013 (=current portion).............. ¥ 530 $ 6,448 2014.......................................... 330 4,015 2015.......................................... 265 3,224 2016.......................................... 244 2,969 2017.......................................... 93 1,132 2018 and thereafter.................... 11 134 ¥1,473 $17,922 9. NET ASSETS Under the Law, the entire amount of the issue price of shares is required to be accounted for as common stock. However a company may, by a resolution of the Board of Directors, account for an amount not exceeding 50% of the issue price of the new shares as additional paid-in capital, which is included in capital surplus. However, an increase resulting from share exchange can be included in capital surplus up to a full amount. The Law provides that the smaller of an amount equal to 10% of the dividend or the excess, if any, of 25% of common stock over the total of additional paid-in capital and legal earnings reserve must be set aside as additional paid-in capital or legal earnings reserve, in cases where a dividend distribution of surplus is made. Under the Law, additional paid-in capital may be used to eliminate or reduce a deficit, or may be capitalized by a resolution of the shareholders’ meeting, and legal earnings reserve may be used to eliminate or reduce a deficit by a resolution of the shareholders’ meeting. Legal earnings reserve is included in retained earnings in the accompanying financial statements. Additional paid-in capital and legal earnings reserve may not be distributed as dividends. Under the Law, all additional paid-in capital and all legal earnings reserve may be transferred to other capital surplus and retained earnings, respectively, which are potentially available for dividends. The maximum amount that a company can distribute as dividends is calculated based on its non-consolidated financial statements in accordance with the Law. Conversions of convertible bonds into common stock are accounted for in accordance with the provisions of the Law by crediting approximately one-half of the conversion proceeds to the common stock account and the remainder to the capital surplus account. a) Stock Information Changes in number of shares issued and outstanding during the years ended March 31, 2012 and 2011 are as follows: Common stock outstanding Thousands of shares 2012 2011 Balance at beginning............... 793,941 793,941 Balance at end......................... 793,941 793,941 Treasury stock outstanding Thousands of shares 2012 2011 Balance at beginning............... 728 702 Increase due to purchase of odd-lot stocks.................. 2 5 Other, net................................ 2 21 Balance at end......................... 732 728 Annual Report 2012 SUMITOMO ELECTRIC 57
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Annual Report 2012 Information & Co
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Glorious Excellent Company The Sumi
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Review of Operations Automotive Inf
Page 7 and 8: Society our daily lives. The Sumito
Page 9 and 10: uri Capabilities a leading position
Page 11 and 12: Materials with a Global Impact year
Page 13 and 14: World Stage The Americas In fiscal
Page 15 and 16: Net Sales Operating Income Net Inco
Page 17 and 18: Masayoshi Matsumoto President and C
Page 19 and 20: VISION 2012 Q3 As mentioned earlier
Page 21 and 22: Segments Performance Sumitomo Elect
Page 23 and 24: Net Sales (Billions of yen) 1,200 1
Page 25 and 26: Net Sales (Billions of yen) 300 250
Page 31 and 32: & Net Sales (Billions of yen) 300 2
Page 33 and 34: anisotropic conductive film for fin
Page 35 and 36: Highlights of Fiscal 2012 Our Respo
Page 37 and 38: Board of Directors The Board of Dir
Page 39 and 40: Strengthened Competition Law Compli
Page 41 and 42: short-term fluctuations in interest
Page 43 and 44: Financial Section 2012 Five-Year Fi
Page 45 and 46: Management’s Discussion and Analy
Page 47 and 48: Consolidated Balance Sheets Million
Page 49 and 50: Consolidated Statements of Changes
Page 51 and 52: Notes to Consolidated Financial Sta
Page 57: Notes to Consolidated Financial Sta
Page 69 and 70: Independent Auditor’s Report To t
Page 71 and 72: • Sumitomo Electric Semiconductor
Page 73 and 74: Company Information Investor Inform
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