Daiwa Securities Group Annual Report 2012 Long-term debt at March 31, 2012 and 2011 consisted of the following: The amount for euro medium-term notes issued by the Company  and a domestic consolidated subsidiary as of March 31, 2012 includes  US$370,436 thousand, AU$857,000 thousand, NZ$665,000 thousand  and ZAR 3,768,000 thousand. Interest rates of euro medium-term notes range from 0.00% to  7.30% at March 31, 2012 and from 0.02% to 7.30% at March 31,  2011. The weighted average interest rate on total outstanding yen  subordinated borrowings and borrowings principally from banks at  March 31, 2012 and 2011 was 0.81% and 1.02%, respectively. The  weighted average interest rate on total outstanding lease obligations  at March 31, 2012 was 1.66%. Daiwa had an unused commitment line amounting to ¥13,219  million ($161,207 thousand) under agreements with several banks at  March 31, 2012. Directors’ retirement benefits in consolidated subsidiaries of ¥504  million ($6,146 thousand) and ¥437 million are included in  “Retirement benefits” in the accompanying consolidated balance  sheets as of March 31, 2012 and 2011, respectively. Benefit  expenses stated in the consolidated statements of income for the  years ended March 31, 2012 and 2011 were ¥218 million ($2,659  thousand), ¥204 million, respectively. Accumulated contribution plus interest to this unfunded plan are  included in “Retirement benefits” in the consolidated balance sheets  as of March 31, 2012 and 2011, in the amount of ¥29,984 million  ($365,659 thousand) and ¥28,001 million, respectively. Benefit  expenses stated in the consolidated statements of income for the  years ended March 31, 2012 and 2011 were ¥2,451 million ($29,890  thousand), ¥3,288 million, respectively. The effect on the consolidated financial statements was immaterial. Closed funded plan Retirement benefits for directors 13. Retirement benefits Retirement benefits for employees Unfunded plan Millions of yen Thousands of  U.S. dollars 2012 2011 2012 Bond payable in yen: 2.08% due CY2016 ¥ 30,000 ¥ 30,000 $ 365,854 Bond payable in yen: 1.80% due CY2011 – 50,000 – Bond payable in yen: 1.50% due CY2012 50,000 50,000 609,756 Bond payable in yen: 1.43% due CY2013 60,000 60,000 731,707 Bond payable in yen: 1.66% due CY2013 70,000 70,000 853,659 Bond payable in yen: 1.65% due CY2011 – 78,000 – Bond payable in yen: 0.92% due CY2015 50,000 50,000 609,756 Bond payable in yen: 0.71% due CY2014 30,000 – 365,854 Bond payable in yen: 0.31% due CY2014 30,000 30,000 365,854 Bond payable in yen: 0.33% due CY2015 30,000 30,000 365,854 Bond payable in yen: 0.53% due CY2014 40,000 – 487,805 Bond payable in yen: 1.40% due CY2014 30,000 30,000 365,854 Bond payable in yen: 0.94% due CY2015 41,300 41,300 503,659 Bond payable in yen: 0.62% due CY2015 20,500 20,500 250,000 Bond payable in yen: 1.26% due CY2017 19,800 19,800 241,463 Bond payable in yen: 1.72% due CY2020 18,400 18,400 224,390 Bond payable in yen: 2.16% due CY2025 7,800 7,800 95,122 Bond payable in yen: 0.34% due CY2031 – 5,000 – Bond payable in yen: 2.41% due CY2026 3,000 – 36,585 Bond payable in yen: 2.24% due CY2026 5,000 – 60,976 Bond payable in yen: 0.63% due CY2026 2,200 – 26,829 Bond payable in yen: 1.87% due CY2013 5,000 – 60,976 Euro medium-term notes issued by the Company and a domestic consolidated  subsidiary, maturing through CY2042 896,564 840,173 10,933,706 Subordinated bond payable in yen: maturing through CY2019 58,225 58,225 710,061 Subordinated borrowings from banks in yen, maturing through CY2016 46,000 128,000 560,976 Long-term borrowings principally from banks in yen, maturing through CY2038 734,901 539,341 8,962,206 Lease obligation 1,562 134 19,049 ¥2,280,252 ¥2,156,673 $27,807,951 83