(Interest-bearing debt) Millions of yen Thousands of U.S. dollars Automobile and Sales Consolidated Automobile and Sales Consolidated Fiscal year 2004  (As of Mar. 31, 2005) Eliminations Financing total Eliminations Financing total Short-term borrowings from third parties ........... ¥ 363,701 ¥1,561,917 ¥1,925,618 $ 3,399,075 $14,597,355 $17,996,430 Internal loans to sales financing companies ..... (973,169) 973,169 — (9,095,037) 9,095,037 — Short-term borrowings per the balance sheet .... (609,468) 2,535,086 1,925,618 (5,695,962) 23,692,393 17,996,430 Bonds and debentures ............................................. 320,602 172,523 493,125 2,996,281 1,612,364 4,608,645 Long-term borrowings from third parties ............ 209,291 1,164,213 1,373,504 1,955,991 10,880,495 12,836,486 Internal loans to sales financing companies ..... — — — — — — Long-term borrowings per the balance sheet ..... 209,291 1,164,213 1,373,504 1,955,991 10,880,495 12,836,486 Lease obligation ............................................................ 153,960 916 154,876 1,438,878 8,561 1,447,439 Total interest bearing debt .................................... 74,385 3,872,738 3,947,123 695,188 36,193,812 36,889,000 Cash and cash equivalents ................................... 280,176 9,608 289,784 2,618,468 89,794 2,708,262 Net interest bearing debt ....................................... (205,791) 3,863,130 3,657,339 (1,923,280) 36,104,018 34,180,738 Debt for Canton Plant included in the above ....... 93,719 — 93,719 875,879 — 875,879 Lease obligation included in the above ...... 153,960 916 154,876 1,438,878 8,561 1,447,439 Net interest bearing debt  (excluding that related to Canton Plant  and lease obligation) ............................................... ¥ (453,470) ¥3,862,214 ¥3,408,744 $(4,238,037) $36,095,457 $31,857,420 Millions of yen Automobile and Sales Consolidated Fiscal year 2003  (As of Mar. 31, 2004) Eliminations Financing total Short-term borrowings from third parties ... ¥ 480,948 ¥ 879,850 ¥1,360,798 Internal loans to sales financing companies ....... (1,096,792) 1,096,792 — Short-term borrowings per the balance sheet ... (615,844) 1,976,642 1,360,798 Bonds and debentures ............................................... 508,864 33,960 542,824 Long-term borrowings from third parties .... 177,054 890,736 1,067,790 Internal loans to sales financing companies ..... — — — Long-term borrowings per the balance sheet ......... 177,054 890,736 1,067,790 Lease obligation .............................................................. 133,664 979 134,643 Total interest bearing debt ...................................... 203,738 2,902,317 3,106,055 Cash and cash equivalents ..................................... 190,135 4,029 194,164 Net interest bearing debt ......................................... 13,603 2,898,288 2,911,891 Debt for Canton Plant included in the above ........... 95,800 — 95,800 Lease obligation included in the above ....................... 133,664 979 134,643 Net interest bearing debt  (excluding that related to Canton Plant  and lease obligation) ................................................. ¥ (215,861) ¥2,897,309 ¥2,681,448 FINANCIAL SECTION Nissan Annual Report 2004 96