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Home | Investors | Financial information

Financial Information: Annual Report 2003


Notes to Consolidated Financial Statements
NSK Ltd. and Subsidiaries
For the year ended March 31, 2003
3. Securities

(a) Marketable securities classified as other securities as of March 31, 2003 and 2002 are summarized as follows:

Millions of yen Thousands of
U.S. dollars
As of March 31, 2003 Acquisition cost Carrying value Unrealized gain (loss) Acquisition cost Carrying value Unrealized gain (loss)
Securities whose carrying value exceeds their acquisition cost:            
  Stock ¥10,143 ¥20,672 ¥10,528 $84,525 $172,267 $87,733
  Bonds:            
    Government bonds 9 9 0 75 75 0
    Corporate bonds 148 150 1 1,233 1,250 8
    Other debt securities 50 50 0 417 417 0
  Other 9 10 1 75 83 8
Subtotal 10,361 20,894 10,532 86,342 174,117 87,767
             
Securities whose acquisition cost exceeds their carrying value:            
  Stock 13,616 11,846 (1,770) 113,467 98,717 (14,750)
  Bonds:            
    Government bonds - - - - - -
    Corporate bonds 229 225 (4) 1,908 1,875 (33)
    Other debt securities 1 1 - 8 8 -
  Other 392 303 (88) 3,267 2,525 (733)
Subtotal 14,241 12,377 (1,864) 118,675 103,142 (15,533)
Total ¥24,602 ¥33,271 ¥8,668 $205,017 $277,258 $72,233
 
Millions of yen
As of March 31, 2002 Acquisition cost Carrying value Unrealized gain (loss)
Securities whose carrying value
  exceeds their acquisition cost:		      
  Stock ¥23,524 ¥60,503 ¥36,978
  Bonds:      
    Government bonds 9 9 0
    Corporate bonds 59 60 0
    Other debt securities 50 50 0
  Other 79 91 11
Subtotal 23,722 60,715 36,992
       
Securities whose acquisition
  cost exceeds their carrying value:		      
  Stock 22,202 17,132 (5,070)
  Bonds:      
    Government bonds - - -
    Corporate bonds 369 351 (17)
    Other debt securities 1 1 -
  Other 1,016 984 (32)
Subtotal 23,591 18,470 (5,120)
Total ¥47,313 ¥79,186 ¥31,872

 Acquisition cost in the tables above represents the book value after the devaluation of certain securities. Loss on devaluation of investment securities for the years ended March 31, 2003 and 2002 amounted to ¥12,772 million ($106,433 thousand) and ¥12,633 million, respectively.


(b) Information regarding sales of securities classified as other securities for the years ended March 31, 2003 and 2002 is as follows:

Millions of yen Thousands of
U.S. dollars
For the years ended March 31 2003 2002 2003
Proceeds from sales ¥7,227 ¥2,615 $60,225
Gains on sales 3,310 375 27,583
Losses on sales 110 61 917

 In addition, the Company contributed marketable securities with a fair value of ¥18,227 million ($151,892 thousand) to its employees’ retirement benefit trust, which resulted in a gain of ¥11,891 million ($99,092 thousand) for the year ended March 31, 2003.


(c) The redemption schedule for securities with maturity dates classified as other securities is summarized as follows:

Millions of yen
As of March 31, 2003 Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years
Government bonds ¥ - ¥10 ¥ - ¥ -
Corporate bonds 234 99 545 -
Other debt securities 51 - - -
Total ¥285 ¥109 ¥545 ¥ -

Thousands of U.S. dollars
As of March 31, 2003 Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years
Government bonds $ - $83 $ - $ -
Corporate bonds 1,950 825 4,542 -
Other debt securities 425 - - -
Total $2,375 $908 $4,542 $ -

Millions of yen
As of March 31, 2002 Due in one year or less Due after one year through five years Due after five years through ten years Due after ten years
Government bonds ¥10 ¥ - ¥ - ¥ -
Corporate bonds 50 333 545 -
Other debt securities 1 50 - -
Total ¥61 ¥383 ¥545 ¥ -

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