Daiwa Securities Group Annual Report 2012 Millions of yen Thousands of  U.S. dollars 2012 2011 2012 Trading liabilities: Trading securities: Equities ¥ 114,085 ¥ 268,070 $ 1,391,280 Government, corporate and other bonds 3,434,101 2,744,432 41,879,280 Investment trusts – 291 – Commercial paper, certificates of deposits and others 21,967 – 267,890 Derivatives: Option transactions 422,229 396,974 5,149,134 Futures and forward transactions 106,563 47,150 1,299,549 Swap agreements 1,817,733 1,325,956 22,167,477 Other derivatives 36,602 33,982 446,366 ¥5,953,280 ¥4,816,855 $72,600,976 Millions of yen Cost Fair value Difference March 31, 2012: Government, municipal and other bonds ¥211,088 ¥211,534 ¥ 446 Corporate bonds 96,229 97,031 803 Other 256,371 255,509 (862) Millions of yen Cost Fair value Difference March 31, 2011: Government, municipal and other bonds ¥ – ¥ – ¥ – Corporate bonds 100 98 (1) Other – – – Thousands of  U.S. dollars Cost Fair value Difference March 31, 2012: Government, municipal and other bonds $2,574,248 $2,579,683 $ 5,435 Corporate bonds 1,173,522 1,183,310 9,788 Other 3,126,480 3,115,962 (10,518) 79 Amortized cost of held-to-maturity debt securities as of March 31, 2012 and 2011 consisted of the following: Cost and fair value of securities intended to be held for trading purposes by non-securities companies as of March 31, 2012 and 2011 consisted  of the following: Securities other than trading assets and trading liabilities are included in “Cash and cash equivalents,” “Securities,” “Private equity and other  investments” and “Investment securities” in the accompanying consolidated balance sheets. Government, corporate and other bonds include convertible bonds. 7. Securities other than trading assets Millions of yen Cost Fair value Difference March 31, 2012 ¥2,419 ¥2,462 ¥ 43 March 31, 2011 ¥2,835 ¥2,537 ¥(298) Thousands of U.S. dollars Cost Fair value Difference March 31, 2012 $29,500 $30,024 $524