Notes to Consolidated Financial Statements3

HOKURIKU ELECTRIC POWER COMPANY AND CONSOLIDATED SUBSIDIARIES
March 31, 2017

4. Notes to Consolidated Balance Sheets

(a) Reduction entry of property, plant and equipment

 Reduction entries of property, plant and equipment as of March 31, 2017 and 2016 were as follows:

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
Contributions in aid of construction¥68,046¥67,996$606,475

(b) Accumulated depreciation of property, plant and equipment

 Accumulated depreciations of property, plant and equipment as of March 31, 2017 and 2016 were as follows:

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
¥2,571,541¥2,537,773$22,919,264

(c) Investments in unconsolidated subsidiaries and affiliates included in "Other" of Investments and other assets

 Investments of unconsolidated subsidiaries and affiliates included in "Other" of Investments and other assets as of March 31, 2017 and 2016 were as follows:

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
¥3,965¥3,910$35,344

(d) Pledged assets and secured liabilities

 All assets of the Company are subject to certain statutory preferential rights established to secure the following bonds and loans from the Development Bank of Japan Incorporated:

Millions of yen / Millions of yen / Thousands of U.S. dollars

Hokuriku Electric Power Company201720162017
Bonds¥494,900¥475,375$4,410,873
Loans from the Development Bank of Japan Incorporated45,87351,852408,850
Recourse obligation under debt assumption agreements58,20080,700518,716

 Additionally, following property, plant and equipment of consolidated subsidiaries are pledged as collateral for the following loans:

Millions of yen / Millions of yen / Thousands of U.S. dollars

Consolidated subsidiaries201720162017
Pledged assets:
 Other noncurrent assets¥5,817¥6,090$51,845
 Investments and other assets6861
Secured liabilities
 Long-term loans9691,2158,636

(e) Inventories

 Inventories as of March 31, 2017 and 2016 were as follows:

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
Merchandise and finished goods¥188¥256$1,676
Work in process2,3892,36021,295
Raw materials and supplies21,22916,399189,213
Total¥23,807¥19,016$212,185

(f) Contingent liabilities

 Contingent liabilities as of March 31, 2017 and 2016 were as follows:

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
Guarantees of loans of following companies and other
 Japan Nuclear Fuel Ltd.¥35,422¥36,959$315,707
 The Japan Atomic Power Company17,49217,492155,907
 Power and IT Company-1,300-
 Guarantees of housing and welfare loans of the Companies' employees11,60112,516103,398
Total¥64,516¥68,269$575,013

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
Guarantees of the corporate bonds of following company
 Japan Nuclear Fuel Ltd.¥404¥404$3,600

Millions of yen / Millions of yen / Thousands of U.S. dollars

201720162017
Recourse obligation under debt assumption agreement of following corporate bonds (*)
 The 248th domestic straight bonds of Hokuriku Electric Power Company¥-¥22,500$-
 The 250th domestic straight bonds of Hokuriku Electric Power Company28,20028,200251,336
 The 281th domestic straight bonds of Hokuriku Electric Power Company30,00030,000267,379
Total¥58,200¥80,700$518,716
(*) Recourse obligation by underwriter
 Mizuho Bank, Ltd.¥58,200¥70,700$518,716
 The Bank of Tokyo-Mitsubishi UFJ, Ltd.-10,000-

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