Toyota 2015 Annual Report Download - page 172

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TOYOTA MOTOR CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Related to securitization transactions, ¥1,845,092 million and ¥2,087,303 million retail finance receivables,
¥144,729 million and ¥290,873 million vehicles on operating leases, ¥112,004 million and ¥126,012 million
restricted cash and ¥1,572,185 million and ¥1,903,189 million secured debt were included in Toyota’s
consolidated financial statements as of March 31, 2015 and 2016, respectively. The creditors of the VIEs do not
have recourse to Toyota’s general credit with the exception of debts guaranteed by Toyota. Risks to which
Toyota is exposed including credit, interest rate, and/or prepayment risks are not incremental compared with the
situation before Toyota enters into securitization transactions.
As for VIEs other than those specified above, neither the aggregate size nor Toyota’s involvements are
material to Toyota’s consolidated financial statements.
12. Short-term borrowings and long-term debt:
Short-term borrowings at March 31, 2015 and 2016 consist of the following:
Yen in millions
March 31,
2015 2016
Loans, principally from banks, with a weighted-average interest at March 31, 2015
and March 31, 2016 of 2.83% and of 2.05% per annum, respectively ............ 1,167,792 1,068,417
Commercial paper with a weighted-average interest at March 31, 2015 and March 31,
2016 of 0.41% and of 0.71% per annum, respectively ........................ 3,880,396 3,629,717
5,048,188 4,698,134
As of March 31, 2016, Toyota has unused short-term lines of credit amounting to ¥1,900,499 million of
which ¥560,218 million related to commercial paper programs. Under these programs, Toyota is authorized to
obtain short-term financing at prevailing interest rates for periods not in excess of 360 days.
F-31