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## 7. LONG-TERM RECEIVABLES 

Long-term receivables at March 31, 2003 and 2002, include receivables of ¥3,986 million ($33,217 thousand) and ¥8,153 mil- lion, respectively, from Nigerian National Petroleum Corporation ("NNPC") relating to services performed by the Company in 1995. The Company has negotiated payment terms with NNPC and had collected ¥4,047 million ($33,725 thousand) during the year ended March 31, 2003, but the repayment schedule of the remaining bal- ance is not determined due to the economic and political circum- stances in Nigeria. 

The Company also has gross receivables and other assets in the amount of ¥7,132 million ($59,433 thousand) and ¥7,615 million at March 31, 2003 and 2002, respectively, from Karunaphuli Fertilizer Company Limited ("KAFCO"), a Bangladesh company, and its relat- ed parties as follows. In March 2001, KAFCO, its shareholders and banks reached a basic agreement about financial restructuring under the supervision of the Bangladesh government and KAFCO has start- ed making payments based on the schedule defined in the financial restructuring plan. 

<img src='content_image/102119.jpg'>

## 8. SHORT-TERM BANK LOANS AND LONG-TERM DEBT 

Short-term bank loans bear interest at rates ranging from 1.625% to 7.65% and from 1.625% to 7.95% at March 31, 2003 and 2002, respectively. Short-term bank loans at March 31, 2003 and 2002, consisted of the following: 

<img src='content_image/102118.jpg'>

Long-term debt at March 31, 2003 and 2002, consisted of the following: 

<img src='content_image/102117.jpg'>

Subordinated loans in the amount of ¥10,000 million ($83,333 thousand) from The Bank of Tokyo-Mitsubishi, Ltd. were included in ’Uncollateralized’ at March 31, 2003 and 2002. 

