Trust Recovery Growth Vitalization - Marubeni

Held-to-maturity securities
Millions of yen
2005 2004
Marubeni Corporation 2005 78 / 79
Gross Gross Gross Gross
Unrealized Unrealized Unrealized Unrealized
Cost Gains Losses Fair Value Cost Gains Losses Fair Value
Current:
Debt securities ...........................
Non-current:
¥28,067 ¥191 ¥(120) ¥28,138 ¥ 573 ¥ 10 ¥ – ¥ 583
Debt securities ........................... ¥14,300 ¥816 ¥ – ¥15,116 ¥42,784 ¥1,488 ¥(150) ¥44,122
Thousands of U.S. dollars
2005
Gross Gross
Unrealized Unrealized
Cost Gains Losses Fair Value
Current:
Debt securities ...........................
Non-current:
$262,308 $1,785 $(1,121) $262,972
Debt securities ........................... $133,645 $7,626 $ – $141,271
Debt securities which the Company held at March 31, 2005 and 2004 were mainly corporate bonds.
Management of the Company believes that the unrealized losses
above are not other than temporary declines as either the market
value has substantially recovered subsequent to the balance sheet
date or the duration of decline is less than 9 months.
In addition to the securities listed above, the Companies held
trading securities of ¥3,997 million ($37,355 thousand) and ¥3,387
million, at fair value, as of March 31, 2005 and 2004, respectively.
The net unrealized holding losses on trading securities included in
earnings for the years ended March 31, 2005, 2004 and 2003
amounted to ¥8 million, nil and ¥5 million, respectively.
The proceeds from sales of available-for-sale securities amounted
to ¥50,728 million ($474,093 thousand), ¥33,717 million and ¥23,984
million for the years ended March 31, 2005, 2004 and 2003,
respectively. Gross realized gains on sales of available-for-sale
securities totaled ¥28,611 million ($267,393 thousand), ¥13,945
million and ¥9,356 million, and gross realized losses totaled ¥144
million ($1,346 thousand), ¥179 million and ¥846 million for the years
ended March 31, 2005, 2004 and 2003, respectively.
The Company contributed certain available-for-sale securities to an
employee retirement benefit trust at fair value of ¥8,746 million and
recognized a loss of ¥1,611 million, which is included in gain on sales
of investment securities for the year ended March 31, 2003.
The Company wrote down certain marketable investment
securities whose decline in value was considered to be other than
temporary to their fair value. These write-downs amounted to ¥385
million ($3,598 thousand), ¥197 million and ¥23,699 million for the
years ended March 31, 2005, 2004 and 2003.
The amortized cost and estimated fair value of debt and marketable
equity securities at March 31, 2005 are summarized by
contractual maturity below. Expected maturities may differ from
contractual maturities because the issuers of certain securities have
the right to prepay obligations without prepayment penalties.
Available-for-sale securities
Millions of yen Thousands of U.S. dollars
Cost Fair Value Cost Fair Value
Due in one year or less ...................................................................... ¥ 701 ¥ 882 $ 6,551 $ 8,243
Due after one year through five years ............................................... 20,921 21,233 195,523 198,439
Due after five years ............................................................................ 1,799 1,979 16,814 18,496
Total debt securities ....................................................................... 23,421 24,094 218,888 225,178
Marketable equity securities .............................................................. 140,249 207,610 1,310,738 1,940,280
Total ............................................................................................... ¥163,670 ¥231,704 $1,529,626 $2,165,458
Held-to-maturity securities
Millions of yen Thousands of U.S. dollars
Cost Fair Value Cost Fair Value
Due in one year or less ...................................................................... ¥28,067 ¥28,138 $262,308 $262,972
Due after one year through five years ............................................... 14,300 15,116 133,645 141,271
Total ............................................................................................... ¥42,367 ¥43,254 $395,953 $404,243