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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
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