Notes Payable and Lines of Credit Notes Payable and Lines of Credit

12 Months Ended

Jun. 30, 2013

Notes Payable and Lines of Credit [Abstract]

Notes Payable and Lines of Credit

NOTES PAYABLE AND LINES OF CREDIT

Notes payable to banks of $40.6 million and $41.6 million at June 30, 2013 and 2012, respectively, represents short-term borrowings under credit lines with commercial banks. These credit lines, translated into U.S. dollars at June 30, 2013 exchange rates, totaled $89.6 million at June 30, 2013, of which $49.0 million was unused. The weighted average interest rate for notes payable and lines of credit was 2.1 percent and 2.5 percent at June 30, 2013 and 2012, respectively.