The fair value of land is determined based on official notice prices that are assessed and published by the Commissioner of the National Tax Administration, as stipulated in Article 2, paragraph 3 of the Ordinance Implementing the Law Concerning Land Revaluation. Reasonable adjustments, including those for the timing of assessment, are made to the official notice prices.  According to the Law, the Company and consolidated subsidiaries are not permitted to revalue the land after April 1, 2002. Such unrecorded gain on revaluation at March 31, 2003 was ¥209 million (US$ 1,739 thousand).  10. Short-Term Borrowings and Long-Term Debts Short-term borrowings at March 31, 2003 and 2002 consisted of the following: 42 FUJI HEAVY INDUSTRIES LTD. Millions Millions Thousands of of yen of yen U.S. dollars 2003 2002 2003 Bank loans with average interest rate of 1.09% and 1.60%  per annum as of March 31, 2003 and 2002, respectively ¥173,084 ¥169,807 $1,439,967 Commercial paper with average interest rate  of 0.03% per annum as of March 31, 2003 9,000 — 74,875 ¥182,084 ¥169,807 $1,514,842 Long-term debts at March 31, 2003 and 2002 consisted of the following: Millions Millions Thousands of of yen of yen U.S. dollars 2003 2002 2003 Loans principally from banks and insurance companies due  through 2019 with average interest rate of 2.17% and 4.30% per annum as of March 31, 2003  and 2002, respectively ¥ 97,448 ¥105,325 $ 810,715 Unsecured 1.80% convertible bonds due March 31, 2003,  convertible currently at ¥633.30 for one common share,  redeemable before due date — 2,033 — Unsecured 0.90% convertible bonds due September 30, 2003,  convertible currently at ¥513.00 ($4.27) for one common share,  redeemable before due date 18,774 18,777 156,190 Unsecured 2.25% bonds due July 31, 2002 — 20,000 — Unsecured 2.10% bonds due August 29, 2003 10,000 10,000 83,195 Unsecured 2.30% bonds due September 30, 2005 10,000 10,000 83,195 Unsecured 1.76% bonds due April 30, 2004 10,000 10,000 83,195 Unsecured 0.97% bonds due May 15, 2006 20,000 20,000 166,389 Unsecured 1.22% bonds due September 30, 2008 30,000 30,000 249,584 Unsecured 0.89% bonds due September 28, 2007 10,000 — 83,194 Secured 1.80% bonds of a consolidated subsidiary due July 7, 2005 300 300 2,496 Secured 0.93% bonds of a consolidated subsidiary  due February 15, 2007 500 500 4,160 207,022 226,935 1,722,313 Less—Portion due within one year (57,660) (43,845) (479,701) ¥149,362 ¥183,090 $1,242,612