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## Fair Value of Derivative Financial Instruments: 

At March 31, 2003 and 2004, all derivative financial instruments were stated at fair market value and recorded on the balance sheet. 

## 15. Leases 

## Lessors 

On September 30, 2004, Fujitsu Leasing Co., Ltd. was shifted from a consolidated subsidiary to an equity method affiliate and no lease payments receivable was consolidated at March 31, 2004. 

The following is a summary of minimum lease payments receivable, present value, unearned finance income, and accumulated allowance for uncollectible minimum lease payments receivable, under finance leases operated by Fujitsu Leasing Co., Ltd. at March 31, 2003. 

<img src='content_image/67220.jpg'>

At March 31, 2003, unearned finance income totaled ·25,525 mill ion and an accumulated allowance for uncollectible minimum lease payments receivable was ·1,012 million. 

At March 31, 2003, future minimum lease payments received within one year under non-cancelable operating leases amounted ·278 million. 

## Lessees 

The following is a summary of equivalent amounts of acquisition cost, accumulated depreciation, book value of leased assets, and minimum lease payments required under finance leases, which were recorded in the corresponding asset accounts, at March 31, 2003 and 2004. 

<img src='content_image/67219.jpg'>

The following is a summary of future minimum lease payments required under non-cancelable operating leases in the aggregate and for each of the following periods. 

<img src='content_image/67218.jpg'>

