MITSUBISHI ESTATE Annual Report 2014
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Financial sectionNote 1: Methods to determine the estimated fair value of financial instruments and other matters related to securities and derivative transactionsAssetsCash on hand and in banksSince these items are settled in a short period of time, their carrying value approximates fair value.Notes and accounts receivable – tradeSince these items are settled in a short period of time, their carrying value approximates fair value.Marketable securities and investment securitiesThe fair value of stocks is based on quoted market prices. The fair value of debt securities is mainly based on prices provided by the financial institutions making markets in these securities. For information on securities classified by holding purpose, please refer to Note 15. “Marketable Securities and Investment Securities.”Equity investmentsThe fair value of equity investments is based on quoted market prices.LiabilitiesNotes and accounts payable – tradeSince these items are settled in a short period of time, their carrying value approximates fair value.Short-term borrowingsSince these items are settled in a short period of time, their carrying value approximates fair value.Current portion of long-term borrowingsSince these items are settled in a short period of time, their carrying value approximates fair value.Commercial paperSince these items are settled in a short period of time, their carrying value approximates fair value.Current portion of bondsSince these items are settled in a short period of time, their carrying value approximates fair value. BondsThe fair value of bonds is based on the quoted market price.Long-term borrowingsSince variable interest rates of certain long-term borrowings are determined based on current interest rate in a short period of time, their carrying value approximates fair value. The fair value of long-term borrowings with fixed interest rate is based on the present value of the total of principal and interest discounted by the interest rate to be applied if similar new borrowings were entered into.Derivatives TransactionsPlease refer to Note 17. “Derivatives and Hedging Activities.”Note 2: Financial instruments for which it is extremely difficult to determine the fair valueMillions of yenThousands of U.S. dollars201420132014(i) Unlisted stocks*1¥  23,391¥  21,383$   227,280(ii) Equity investments*2213,384195,4262,073,301(iii) Lease and guarantee deposit receivables*3113,015110,6891,098,089(iv) Lease and guarantee deposit payables*4383,083378,8763,722,149*1Because no quoted market price is available and it is extremely difficult to determine the fair value, unlisted stocks are not included in the above table.*2Because it is extremely difficult to determine the fair value for equity investments which are not listed and have no quoted market price, they are not included in the above table. *3Because no quoted market price for lease and guarantee deposit receivables for rental properties is available and calculation of the actual period of duration from lease initiation to evacuation is difficult, it is extremely difficult to estimate a reasonable amount of cash flow and therefore they are not included in the above table.*4Because no quoted market price for lease and guarantee deposit payables for rental properties is available and calculation of the actual period of duration from lease initiation to evacuation is difficult, it is extremely difficult to estimate a reasonable amount of cash flow, and therefore they are not included in the above table.Note 3: Redemption schedule for receivables and marketable securities with maturities at March 31, 2014Millions of yenThousands of U.S. dollarsAs of March 31, 2014Due in One Year or LessDue after One Year through Five YearsDue after Five Years through Ten YearsDue after Ten YearsDue in One Year or LessDue after One Year through Five YearsDue after Five Years through Ten YearsDue after Ten YearsCash on hand and in banks¥224,121———$2,177,625 ———Notes and accounts receivable – trade28,539———277,299———Marketable securities and investment securities:Held-to-maturity debt securitiesNational and local government bonds110¥ 35¥234—1,068$  340 $2,273 —Corporate bonds—223———2,166——Other25———242———Other marketable securities with maturities:Corporate bonds————————Other1,200—119—11,659—1,160—Total¥253,995¥258¥353—$2,467,896 $2,506 $3,434 —Millions of yenAs of March 31, 2013Due in One Year or LessDue after One Year through Five YearsDue after Five Years through Ten YearsDue after Ten YearsCash on hand and in banks¥192,076———Notes and accounts receivable – trade29,925———Marketable securities and investment securities:Held-to-maturity debt securitiesNational and local government bonds10¥145¥234—Corporate bonds233———Other—25——Other marketable securities with maturities:Corporate bonds————Other350———Total¥222,595¥170¥234—Note 4: The redemption schedule for bonds and long-term borrowingsMillions of yenThousands of U.S. dollarsAs of March 31, 2014Due in One Year or LessDue after One Year through Two YearsDue after Two Years through Three YearsDue after Three Years through Four YearsDue after Four Years through Five YearsDue after Five YearsDue in One Year or LessDue after One Year through Two YearsDue after Two Years through Three YearsDue after Three Years through Four YearsDue after Four Years through Five YearsDue after Five YearsCorporate bonds¥  56,647¥  20,000¥  70,000¥  85,000¥  65,000¥405,000$   550,403$   194,325$   680,139$   825,884$   631,558$3,935,095 Long-term borrowings343,127109,681171,574133,459128,818311,5173,333,9231,065,6961,667,0691,296,7321,251,6403,026,796Total¥399,774¥129,681¥241,574¥218,459¥193,818¥716,517$3,884,326 $1,260,022 $2,347,208 $2,122,616 $1,883,198 $6,961,891 Millions of yenAs of March 31, 2013Due in One Year or LessDue after One Year through Two YearsDue after Two Years through Three YearsDue after Three Years through Four YearsDue after Four Years through Five YearsDue after Five YearsCorporate bonds¥  57,800¥  44,664¥  20,000¥  70,000¥  85,000¥470,000Long-term borrowings166,445337,875118,913166,077111,148324,224Total¥224,245¥382,540¥138,913¥236,077¥196,148¥794,22468MITSUBISHI ESTATE CO., LTD.

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