Assets “Cash and Cash Equivalents” and “Short-Term Loans” The book values of these items approximate fair value because of  their short maturities. Liabilities “Payables,” “Short-Term Bank Loans” and “Income Taxes Payable” The book values of these items approximate fair value because of  their short maturities. Marketable and Investment Securities “Corporate Bonds” and “Long-Term Debt” Receivables and Payables Derivatives The fair values of marketable and investment securities are mea- sured at the quoted market price of the stock exchange for the  equity instruments, and at the quoted price obtained from the  financial institution for certain debt instruments. The information of  the fair value for the marketable and investment securities by clas- sification is included in Note 7. The fair values of corporate bonds are calculated based on the  market prices. The fair values of long-term debt are calculated by  the total amount of principal and interest at discounted interest  rates based on the expected rate of new debts. However, as debts  based on floating rates reflect market interest rates over a short  period of time and the credit standing of the Company has not  changed significantly from the time of borrowing, the book values  of the long-term debts approximate fair values. The information of the fair value for derivatives is included in Note 18. The book values after deduction of the allowance for bad debts of  receivables and payables approximate fair values because of their  short maturities. Long-Term Loans The fair values of long-term loans are calculated by the total  amount of principal and interest at discounted interest rates based  on the expected rate of new loans. However, as loans based on  floating rates reflect market interest rates over a short period of  time, as long as the credit standing of the debtor does not change  significantly from the time of lending, the book values of the long- term loans approximate fair values. Please see Note 9 for annual maturities of long-term debt and Note 15 for obligations under finance leases. JS Group Corporation Annual Report 2010 77 (b) Financial instruments whose fair value cannot be reliably  determined (5) Maturity Analysis for Financial Assets and Securities with Contractual Maturities Thousands of U.S. Dollars March 31, 2010 Due in 1 Year  or Less Due after 1 Year through 5 Years Due after 5 Years through 10 Years Due after 10 Years Cash and cash equivalents $ 959,829 Notes and accounts receivable 2,449,499 Short-term investments and investment securities: Held-to-maturity securities 220,206 $ 7,493 Available-for-sale securities with contractual maturities 5,502 525 $32,445 Other 98,906 Short-term loans (excluding long-term loans to be collected within one year) 114,152 Long-term loans (including those to be collected within one year) 7,614 22,458 2,971 $4,405 Total $3,855,708 $30,476 $35,416 $4,405 Millions of Yen March 31, 2010 Due in 1 Year  or Less Due after 1 Year through 5 Years Due after 5 Years through 10 Years Due after 10 Years Cash and cash equivalents ¥ 89,302 Notes and accounts receivable 227,902 Short-term investments and investment securities: Held-to-maturity securities 20,488 ¥ 697 Available-for-sale securities with contractual maturities 512 49 ¥3,019 Other 9,202 Short-term loans (excluding long-term loans to be collected within one year) 10,621 Long-term loans (including those to be collected within one year) 708 2,090 276 ¥410 Total ¥358,735 ¥2,836 ¥3,295 ¥410 Carrying Amount March 31, 2010 Millions of Yen Thousands of U.S. Dollars Investments in equity instruments that do not have a quoted market price in an active market ¥15,878 $170,658 Other 5 57 Total ¥15,883 $170,715