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概要

Annual Reportは、ごうぎんの決算や活動内容にて海外の皆様に知っていただくために作成しています

THE SAN-IN GODO BANK, LTD. AND CONSOLIDATED SUBSIDIARIESNotes to the Consolidated Financial Statements(Note 1) Determining the fair value of financial instrumentsAssets:Cash and due from banksThe carrying amount is presented as the fair value since the fair value approximates the carrying amount because these arewithout maturity or the remaining maturity is short (less than one year).Call loans and bills purchasedThe carrying amount is presented as the fair value since the fair value approximates the carrying amount because theremaining contractual term is short (less than one year).SecuritiesFor equity securities, the fair value is determined using the price at the exchange. The fair value of debt securities isdetermined using firstly the published market price by the Japan Securities Dealers Association, secondly the computed priceby the information vendors or thirdly the quoted price by the brokers. The fair value of investment trusts is determined usingfirstly the published standard quotation price or secondly the quoted price by the brokers. For privately placed bondsguaranteed by the Bank, the fair value is determined based on the present value of the aggregated principal and interestdiscounted at an interest rate assumed if the same issue were underwritten.Loans and bills discountedFor loans with variable interest rates, the carrying amount is presented as the fair value since the fair value approximates thecarrying amount, unless the creditworthiness of the borrower has changed significantly since the loan origination. For loanswith fixed interest rates, the fair value is determined based on the present value of the principal and interest aggregated bythe type of loans, internal ratings, collaterals and maturities discounted at an interest rate assumed if the new loans weremade. For loans with short remaining maturity (less than one year), the carrying amount is presented as the fair value sincethe fair value approximates the carrying value.For receivables due from bankrupt, substantially bankrupt or bankruptcy imminent borrowers, loan loss provisions areestimated based on expected future cash flows or the expected amount to be collected from collaterals and guarantees.Therefore, carrying amount of those items, net of related loan loss provisions, is presented as the fair value.The fair value of interest rate swap contracts which are accounted for combined with the loans as hedged items under thehedge accounting is included in the fair value of the corresponding loans.Liabilities:DepositsFor demand deposits, the amount payable on demand as of the balance sheet date (i.e., the carrying amount) is consideredto be the fair value. The fair value of time deposit is determined using the discounted present value of future cash flowsgrouped by types of deposits and maturity lengths. The discount rate used is the interest rate that would be applied to newlyaccepted deposits. For deposits whose remaining maturity is short (less than one year), the carrying amount is presented asthe fair value since the fair value approximates the carrying amount.Cash collateral received under securities lendingThe carrying amount is presented as the fair value since the fair value approximates the carrying amount because theremaining contractual term is short (less than one year).Borrowed moneyFor borrowed money with variable interest rates reflecting the market interest rates in a short-term period, the carryingamount is presented as the fair value since the fair value approximates the carrying amount. For borrowed money with fixedinterest rates, the fair value is determined using the present value discounted at an interest rate assumed if the newborrowing were made. For borrowed money with short contractual term (less than one year), the carrying amount ispresented as the fair value since the fair value approximates the carrying amount.Derivative transactions:The fair value of derivatives is described in note “21. Derivatives.”(Note 2) Securities whose fair value is extremely difficult to determine as of March 31, 2015 and 2016Millions of YenThousands ofU.S. Dollars2015 2016 2016Unlisted equity securities (*1) (*2) \ 2,458 \ 2,721 $ 24,148Investment in partnerships (*3) 4,166 5,627 49,937Others 4,077 6,427 57,037Total \10,702 \14,776 $131,132(*1) The fair value of unlisted equity securities is not disclosed since it is extremely difficult to identify their fair value.(*2) The Group recognized impairment losses on unlisted equity securities in an amount of \52 million and \47 million ($417thousand) for the years ended March 31, 2015 and 2016, respectively.(*3) The fair value of investment in partnerships whose assets consist of securities such as unlisted equity securities whosefair value is extremely difficult to identify is not disclosed.26