Sony 2007 Annual Report Download - page 114

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STOCK ACQUISITION RIGHTS (SARs)
Total number of Number of shares to be Percentage of
Name Date of issue (Exercise period) SARs issued issued or transferred Exercise price SARs exercised (%)
The first series of common stock acquisition rights December 9, 2002 (December 8, 2012) 11,241 1,124,100 ¥5,396.0 6.4
The third series of common stock acquisition rights March 31, 2003 (March 31, 2013) 10,532 1,053,200 U.S.$36.57 27.2
The fourth series of common stock acquisition rights November 14, 2003 (November 13, 2013) 10,081 1,008,100 ¥4,101.0 27.9
The sixth series of common stock acquisition rights March 31, 2004 (March 31, 2014) 10,325 1,032,500 U.S.$40.90 15.6
The seventh series of common stock acquisition rights November 18, 2004 (November 17, 2014) 11,867 1,186,700 ¥3,782.0 16.7
The ninth series of common stock acquisition rights March 31, 2005 (March 31, 2015) 9,560 956,000 U.S.$40.34 5.3
The tenth series of common stock acquisition rights November 17, 2005 (November 16, 2015) 11,131 1,113,100 ¥4,060.0 1.0
The eleventh series of common stock acquisition rights November 17, 2005 (November 17, 2015) 13,087 1,308,700 U.S.$34.14 4.3
The twelfth series of common stock acquisition rights November 16, 2006 (November 15, 2016) 10,695 1,069,500 ¥4,756.0 0.0
The thirteenth series of common stock acquisition rights November 16, 2006 (November 16, 2016) 14,498 1,449,800 U.S.$40.05 0.0
Note: All series of Stock Acquisition Rights were issued for the purpose of granting stock options. Accordingly, no cash payment was required for the allocation.
BONDS WITH STOCK ACQUISITION RIGHTS
Total number of Number of shares to be Percentage of
Name Date of issue Years SARs issued issued or transferred Exercise price SARs exercised (%)
Bonds with stock acquisition rights December 18, 2003 5 50,000 44,603,033 ¥5,605.0 0
Notes: 1. Bonds with Stock Acquisition Rights (total amount of issue being 250 billion yen) were issued in overseas markets mainly in Europe in order to raise funds for the
development of and equipment expenditures for the next-generation semiconductors and key devices in Sony Group.
2. The issue price of the Stock Acquisition Rights included in the Bonds with Stock Acquisition Rights was determined as zero, taking into consideration: that the
Bonds and the Stock Acquisition Rights have a close interrelation on the grounds that the Stock Acquisition Rights are incorporated in the Bonds with the Stock
Acquisition Rights and shall not be transferable separately from the Bonds, and that all Bonds shall cease to exist upon exercise of the related Stock Acquisition
Rights due to substitute payment; and the value of the Stock Acquisition Rights and the economic value obtainable from the interest rate, the issue price and other
terms of issue of the Bonds.
CONVERTIBLE BONDS
Interest rate Total amount Conversion Outstanding balance
Name Date of issue Years (%) of issue price (Percentage of bonds converted)
U.S. dollar convertible bonds April 17, 2000 10 0 U.S.$57,331.thousand ¥13,220.0 U.S.$45,968.thousand
(0%)
U.S. dollar convertible bonds April 16, 2001 10 0 U.S.$77,056.thousand ¥ 8,814.0 U.S.$47,733.thousand
(0%)
U.S. dollar convertible bonds April 15, 2002 10 0 U.S.$67,297.thousand ¥ 6,931.0 U.S.$36,422.thousand
(0.6%)
Note: All convertible bonds were issued to provide equity-based compensation to certain executives in Sony’s U.S. subsidiary companies. The outstanding balance of each
series is not equal to the total amount of issue of such series since Sony Corporation repurchased and canceled certain portion of each series which were not used for
such purpose.
BONDS WITH WARRANTS
Interest rate Total amount Conversion Outstanding balance
Name Date of issue Years (%) of issue price (Percentage of warrants exercised)
The thirteenth series of unsecured December 21, 2001
60.9 ¥7,300 million ¥6,039.0 ¥6,920 million
bonds with warrants (0%)
Note: Bonds with warrants were issued to provide equity-based compensation to directors and other executives of Sony Corporation by granting them the warrants
detached from the bonds as part of their remuneration.
While the percentage of warrants exercised is 0 percent, the outstanding balance is not equal to the total amount of issue of the bonds with warrants since Sony
Corporation canceled certain portion of the warrants which were not used for such purpose.
STRAIGHT BONDS
Name Date of issue Years Interest rate (%) Total amount of issue Outstanding balance
The seventh (2) series of unsecured bonds July 26, 2000 7 1.99 ¥15,000 million ¥ 15,000 million
The eighth (2) series of unsecured bonds July 26, 2000 10 (Note 2) ¥ 5,000 million ¥ 4,900 million
The ninth series of unsecured bonds September 13, 2000 10 2.04 ¥50,000 million ¥ 50,000 million
The twelfth series of unsecured bonds September 17, 2001 10 1.52 ¥50,000 million ¥ 50,000 million
The fifteenth series of unsecured bonds September 8, 2005 5 0.80 ¥50,000 million ¥ 50,000 million
The sixteenth series of unsecured bonds September 8, 2005 7 1.16 ¥40,000 million ¥ 40,000 million
The seventeenth series of unsecured bonds September 8, 2005 10 1.57 ¥30,000 million ¥ 30,000 million
The eighteenth series of unsecured bonds February 28, 2006 4 1.01 ¥40,000 million ¥ 40,000 million
The nineteenth series of unsecured bonds February 28, 2006 7 1.52 ¥35,000 million ¥ 35,000 million
The twentieth series of unsecured bonds February 28, 2006 10 1.75 ¥25,000 million ¥ 25,000 million
Notes: 1. Sony Corporation assumed responsibility for the seventh (2) series of unsecured bonds and the eighth (2) series of unsecured bonds as a result of its merger with AIWA
Corporation. Sony Corporation repurchased and canceled 100 million yen of the eighth (2) series of unsecured bonds.
2. The interest rate of the eighth (2) series of unsecured bonds is calculated by subtracting 2-year interest rate swap from 20-year interest rate swap and then adding
1.00 percent. (If the result of this calculation is negative, the interest rate is 0 percent.)
Stock Acquisition Rights and Bond Information
As of March 31, 2007