Annual Report 2002 [PDF/1.6MB]

10. LEASE TRANSACTIONS (continued)(2) As lessorTotal lease receipts under finance leases were ¥3,864 million ($28,998 thousand) and ¥7,771 million for the years ended March31, 2002 and 2001, respectively.Information on leased property such as acquisition cost and accumulated depreciation as of March 31, 2002 and 2001 anddepreciation expenses for the years ended were as follows:Millions of Yen2002 2001Thousands ofU.S. Dollars2002Acquisition costEquipment and fixtures¥ 16,733¥ 32,407$ 125,576Others2,7682,19520,773Less accumulated depreciation(10,236)(22,130)(76,818)9,26512,47269,531Depreciation expenses¥ 3,716¥ 5,445$ 27,887Future minimum lease receipts as of March 31, 2002 were as follows:Millions of YenThousands ofU.S. DollarsWithin one year¥ 3,704$ 27,797More than one year6,37347,827Total¥ 10,077$ 75,624Operating leasesAs lessees under noncancelable operating leases, future minimum lease payments at March 31, 2002 were ¥197 million($1,478 thousand), of which ¥44 million ($330 thousand) were due within one year.As a lessor under noncancelable operating leases, future minimum lease receipts at March 31, 2002 were ¥115 million ($863thousand), of which ¥46 million ($345 thousand) were due within one year.11. DERIVATIVE FINANCIAL INSTRUMENTSThe Companies trade in derivatives based on currencies, interest rates, and commodities, primarily as a way of hedging therisk of future fluctuations in exchange rates, interest rates and commodity prices.The Companies have taken various steps, including the establishment of internal management rules, to ensure that transactionsare implemented, reported and monitored appropriately, and that risk is managed. The Companies do not hold and issue derivativefinancial instruments for trading purposes.45