Long-term Debt and Short-term Borrowings

12 Months Ended

Mar. 31, 2011

Long-term Debt and Short-term Borrowings

Long-term Debt and Short-term Borrowings

(9) Long-term Debt and Short-term Borrowings

Long-term debt at March 31, 2011 and 2010 is set forth below:

	Yen (millions)
	2011		2010
Unsecured Straight bond, due 2011, interest 1.64%		100,000		100,000
Unsecured Straight bond, due 2012, interest 1.14%		100,000		100,000
Unsecured Straight bond, due 2013, interest 0.38%		150,000		—
Unsecured Straight bond, due 2014, interest 1.404%		200,000		200,000
Unsecured Straight bond, due 2016, interest 0.752%		200,000		—
Unsecured Straight bond, due 2018, interest 1.081%		150,000		—
Unsecured Straight bond, due 2019, interest 2.05%		100,000		100,000
Unsecured Straight bonds issued by subsidiaries, due 2010 - 2019, interest 0.53% - 2.02%		162,407		182,406
Unsecured bank loans, due 2010 - 2015, effective interest 1.1% in fiscal 2011 and 1.1% in fiscal 2010		259,801		404,318
Secured bank loans by subsidiaries, due 2010 - 2023, effective interest 1.91% in fiscal 2011 and 2.04% in fiscal 2010		3,473		4,558
Capital lease obligations		110,177		144,770
		1,535,858		1,236,052
Less current portion		373,571		207,124
		1,162,287		1,028,928

The aggregate annual maturities of long-term debt after March 31, 2011 are as follows:

Year ending March 31	Yen (millions)
2012		373,571
2013		221,641
2014		285,429
2015		100,747
2016		249,328
2017 and thereafter		305,142

As is customary in Japan, short-term and long-term bank loans are made under general agreements which provide that security and guarantees for future and present indebtedness will be given upon request of the bank, and that the bank shall have the right, as the obligations become due, or in the event of their default, to offset cash deposits against such obligations due to the bank.

Each of the loan agreements grants the lender the right to request additional security or mortgages on certain assets. At March 31, 2011 and 2010, other investments and advances, and property, plant and equipment with a book value of 8,945 million yen and 9,933 million yen respectively, was pledged as collateral by subsidiaries for secured loans from banks. At March 31, 2011 and 2010, loans subject to such general agreements amounted to 3,899 million yen and 6,761 million yen, respectively.

The balance of short-term loans also includes borrowings under acceptances and short-term loans of foreign subsidiaries. The weighted-average interest rate on short-term borrowings outstanding at March 31, 2011 and 2010 was 2.8% and 2.5%, respectively.