Sec Form 20-F - Registration Statement/annual Report/transition Report/shell Company Report Page 16
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69(c)
information on the level of borrowings at the end of the period under review, the seasonality of borrowing
requirements and the maturity profile of borrowings and committed borrowing facilities, with a
description of any restrictions on their use.
2.
Information regarding the type of financial instruments used, the maturity profile of debt, currency and interest
rate structure. The discussion also should include funding and treasury policies and objectives in terms of the
manner in which treasury activities are controlled, the currencies in which cash and cash equivalents are held,
the extent to which borrowings are at fixed rates, and the use of financial instruments for hedging purposes.
3.
Information regarding the company’s material commitments for capital expenditures as of the end of the latest
financial year and any subsequent interim period and an indication of the general purpose of such commitments
and the anticipated sources of funds needed to fulfill such commitments.
C.
Research and development, patents and licenses, etc. Provide a description of the company’s research and
development policies for the last three years, where it is significant, including the amount spent during each of the
last three financial years on company-sponsored research and development activities.
D.
Trend information. The company should identify the most significant recent trends in production, sales and inventory,
the state of the order book and costs and selling prices since the latest financial year. The company also should discuss,
for at least the current financial year, any known trends, uncertainties, demands, commitments or events that are
reasonably likely to have a material effect on the company’s net sales or revenues, income from continuing operations,
profitability, liquidity or capital resources, or that would cause reported financial information not necessarily to be
indicative of future operating results or financial condition.
E.
Off-balance sheet arrangements.
1.
In a separately-captioned section, discuss the company’s off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on the company’s financial condition, changes in financial condition, revenues
or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors. The
disclosure shall include the items specified in Items 5.E.1(a), (b), (c) and (d) of this Item to the extent necessary to an
understanding of such arrangements and effect, and shall also include such other information that the company
believes is necessary for such an understanding.
(a)
The nature and business purpose to the company of such off-balance sheet arrangements;
(b)
The importance to the company of such off-balance sheet arrangements in respect of its liquidity, capital
resources, market risk support, credit risk support or other benefits;
(c)
The amounts of revenues, expenses and cash flows of the company arising from such arrangements; the nature
and amounts of any interests retained, securities issued and other indebtedness incurred by the company in
connection with such arrangements; and the nature and amounts of any other obligations or liabilities (including
contingent obligations or liabilities) of the company arising from such arrangements that are or are reasonably
likely to become material and the triggering events or circumstances that could cause them to arise; and
(d)
Any known event, demand, commitment, trend or uncertainty that will result in or is reasonably likely to result
in the termination, or material reduction in availability to the company, of its off-balance sheet arrangements
that provide material benefits to it, and the course of action that the company has taken or proposes to take
in response to any such circumstances.
2.
As used in this Item 5.E., the term off-balance sheet arrangement means any transaction, agreement or other contractual
arrangement to which an entity unconsolidated with the company is a party, under which the company has:
(a)
Any obligation under a guarantee contract that has any of the characteristics identified in paragraph 3 of FASB
Interpretation No. 45, Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect
Guarantees of Indebtedness of Others (November 2002) (“FIN 45”), as may be modified or supplemented,
excluding the types of guarantee contracts described in paragraphs 6 and 7 of FIN 45;
(b)
A retained or contingent interest in assets transferred to an unconsolidated entity or similar arrangement that
serves as credit, liquidity or market risk support to such entity for such assets;
(c)
Any obligation under a derivative instrument that is both indexed to the company’s own stock and classified
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