Trust Recovery Growth Vitalization - Marubeni

The obligations secured by such collateral were as follows:
Marubeni Corporation 2005 82 / 83
Thousands of
Millions of yen U.S. dollars
2005 2004 2005
Short-term loans ........................................................................................................... ¥ 36,157 ¥ 19,566 $ 337,916
Other current liabilities .................................................................................................. 12,930 11,906 120,841
Long-term debt ............................................................................................................. 201,470 184,444 1,882,897
Guarantees of contracts, etc. ........................................................................................ 10,533 11,552 98,439
In addition, acceptances payable at March 31, 2005 and 2004
were secured by trust receipts on inventories, the standard terms of
which provide that the proceeds from the sales of any such collateral
be delivered to the respective bank to be applied against outstanding
acceptances. However, the Companies have, in general, followed
the practice of paying acceptances on their maturity dates. Given the
substantial volume of the Company’s transactions, it would not be
practicable to determine the total amount of inventories and/or
8 Short-Term Loans and Long-Term Debt
Short-term loans at March 31, 2005 and 2004 consisted of:
¥261,090 ¥227,468 $2,440,093
proceeds from the sales of such inventories covered by outstanding
trust receipts.
As is customary in Japan, security, if requested by a lending bank,
must be given and the bank has the right to offset cash deposited
with it against any debt or obligations that become due and, in the
case of default or certain other specified events, against all debt
payable to the bank. To date, no such request has been made to the
Companies and no such rights have been exercised.
Millions of yen
Thousands of
U.S. dollars
2005 2004 2005
Short-term loans from banks and others ...................................................................... ¥344,597 ¥467,735 $3,220,533
Commercial paper ......................................................................................................... – 7,000 –
Long-term debt at March 31, 2005 and 2004 consisted of:
¥344,597 ¥474,735 $3,220,533
Millions of yen
Thousands of
U.S. dollars
2005 2004 2005
4.0% reverse dual currency notes due 2005 ................................................................ ¥ 11,898 ¥ 11,898 $ 111,196
2.12% notes due 2004 ................................................................................................. – 4,600 –
2.5% notes due 2004 ................................................................................................... – 8,700 –
2.3% notes due 2004 ................................................................................................... – 7,600 –
2.37% notes due 2004 ................................................................................................. – 3,400 –
2.13% notes due 2005 ................................................................................................. 5,800 5,800 54,206
1.52% notes due 2004 ................................................................................................. – 10,600 –
1.75% notes due 2008 with prepayment options ........................................................ – 4,400 –
1.2% notes due 2004 ................................................................................................... – 8,300 –
1.48% notes due 2006 ................................................................................................. 3,800 3,800 35,514
1.15% notes due 2005 ................................................................................................. 36,637 36,637 342,402
1.27% notes due 2006 ................................................................................................. 7,700 7,700 71,963
1.13% notes due 2006 ................................................................................................. 28,100 28,100 262,617
0.81% notes due 2004 ................................................................................................. – 27,163 –
Libor + 0.73% notes due 2007 ..................................................................................... 15,578 15,578 145,589
2.0% notes due 2006 ................................................................................................... 15,000 15,000 140,187
1.91% notes due 2006 ................................................................................................. 10,000 10,000 93,458
1.27% notes due 2007 ................................................................................................. 10,000 10,000 93,458
1.11% notes due 2007 ................................................................................................. 10,000 10,000 93,458
1.43% notes due 2009 ................................................................................................. 10,000 – 93,458
1.38% notes due 2009 ................................................................................................. 15,000 – 140,187
0.86% notes due 2007 ................................................................................................. 10,000 – 93,458
1.28% notes due 2009 ................................................................................................. 10,000 – 93,458
0.98% notes due 2009 ................................................................................................. 10,000 – 93,458
0.87% notes due 2010 ................................................................................................. 20,000 – 186,916