Toyota 2008 Annual Report Download - page 110

Download and view the complete annual report

Please find page 110 of the 2008 Toyota annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 138

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138

108 TOYOTA •Annual Report 2008 •
Financial Section
Dividends from affiliated companies accounted for by the
equity method for the years ended March 31, 2006, 2007 and
2008 were ¥30,011 million, ¥45,234 million and ¥76,351 million
($762 million), respectively.
Variable Interest Entities
Toyota enters into securitization transactions with certain spe-
cial-purpose entities. However, substantially all securitization
transactions are with entities that are qualifying special-purpose
entities under FAS 140 and thus no material variable interest
entities (“VIEs”) relating to these securitization transactions.
Certain joint ventures in which Toyota has invested are VIEs
for which Toyota is not the primary beneficiary. However, nei-
ther the aggregate size of these joint ventures nor Toyota’s
involvements in these entities are material to Toyota’s consoli-
dated financial statements.
Short-term borrowings at March 31, 2007 and 2008 consist of the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2007 2008 2008
Loans, principally from banks, with a weighted-average interest at March 31, 2007
and March 31, 2008 of 3.17% and of 3.36% per annum, respectively...................................... ¥1,055,918 ¥1,226,717 $12,244
Commercial paper with a weighted-average interest at March 31, 2007
and March 31, 2008 of 4.95% and of 3.76% per annum, respectively..................................... 2,441,473 2,326,004 23,216
¥3,497,391 ¥3,552,721 $35,460
Long-term debt at March 31, 2007 and 2008 comprises the following:
U.S. dollars
Yen in millions in millions
March 31, March 31,
2007 2008 2008
Unsecured loans, representing obligations principally to banks, due 2007 to 2027
in 2007 and due 2008 to 2028 in 2008 with interest ranging from 0.20% to 18.00%
per annum in 2007 and from 0.17% to 28.00% per annum in 2008.......................................... ¥ 1,009,634 ¥ 1,016,101 $ 10,142
Secured loans, representing obligations principally to banks, due 2007 to 2019
in 2007 and due 2008 to 2019 in 2008 with interest ranging from 0.35% to 5.60%
per annum in 2007 and from 0.35% to 5.60% per annum in 2008............................................ 14,307 15,635 156
Medium-term notes of consolidated subsidiaries, due 2007 to 2047 in 2007
and due 2008 to 2047 in 2008 with interest ranging from 0.01% to 15.25%
per annum in 2007 and from 0.32% to 15.25% per annum in 2008.......................................... 5,269,107 5,451,779 54,414
Unsecured notes of parent company, due 2008 to 2018 in 2007
and due 2008 to 2018 in 2008 with interest ranging from 1.33% to 3.00%
per annum in 2007 and from 1.33% to 3.00% per annum in 2008............................................ 500,000 350,000 3,493
Unsecured notes of consolidated subsidiaries, due 2007 to 2031 in 2007
and due 2008 to 2031 in 2008 with interest ranging from 0.34% to 9.07%
per annum in 2007 and from 0.34% to 14.00% per annum in 2008.......................................... 1,787,767 1,780,284 17,769
Long-term capital lease obligations, due 2007 to 2017 in 2007
and due 2008 to 2017 in 2008, with interest ranging from 0.31% to 9.33%
per annum in 2007 and from 0.31% to 10.00% per annum in 2008.......................................... 50,886 43,563 435
8,631,701 8,657,362 86,409
Less—Current portion due within one year ................................................................................. (2,368,116) (2,675,431) (26,703)
¥ 6,263,585 ¥ 5,981,931 $ 59,706
As of March 31, 2008, Toyota has unused short-term lines of
credit amounting to ¥2,629,245 million ($26,243 million) of which
¥768,877 million ($7,674 million) related to commercial paper
programs. Under these programs, Toyota is authorized to
obtain short-term financing at prevailing interest rates for peri-
ods not in excess of 360 days.
Short-term borrowings and long-term debt:
13
.
U.S. dollars
Yen in millions in millions
For the year ended
For the years ended March 31, March 31,
2006 2007 2008 2008
Net revenues........................................................................................................ ¥1,394,071 ¥1,475,220 ¥1,693,969 $16,908
Purchases ............................................................................................................. 3,356,626 4,028,260 4,525,049 45,165