Source: finance

(b) Currency derivatives

<table>
  <tr>
    <th rowspan="2">March 31</th>
    <th colspan="4">Contract amount</th>
    <th rowspan="2">Valuation gains (losses)</th>
  </tr>
  <tr>
    <th>Total</th>
    <th>Over 1 year</th>
    <th>Fair value</th>
    <th></th>
  </tr>
  <tr>
    <td>Over-the-counter</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Currency swaps</td>
    <td>¥20,597,671</td>
    <td>¥12,937,360</td>
    <td>¥(392,609)</td>
    <td>¥(28,299)</td>
  </tr>
  <tr>
    <td>Currency swaptions:</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Sold</td>
    <td>711,681</td>
    <td>672,001</td>
    <td>(23,439)</td>
    <td>(23,439)</td>
  </tr>
  <tr>
    <td>Bought</td>
    <td>948,904</td>
    <td>695,468</td>
    <td>38,789</td>
    <td>38,789</td>
  </tr>
  <tr>
    <td>Forward foreign exchange</td>
    <td>50,708,557</td>
    <td>19,400,525</td>
    <td>114,272</td>
    <td>114,272</td>
  </tr>
  <tr>
    <td>Currency options:</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Sold</td>
    <td>3,054,155</td>
    <td>1,996,329</td>
    <td>(300,544)</td>
    <td>(300,544)</td>
  </tr>
  <tr>
    <td>Bought</td>
    <td>2,935,419</td>
    <td>1,894,947</td>
    <td>420,803</td>
    <td>420,803</td>
  </tr>
  <tr>
    <td>Total</td>
    <td>/</td>
    <td>/</td>
    <td>¥(142,728)</td>
    <td>¥221,581</td>
  </tr>
</table>

<table>
  <tr>
    <th rowspan="2">March 31</th>
    <th colspan="4">Contract amount</th>
    <th rowspan="2">Valuation gains (losses)</th>
  </tr>
  <tr>
    <th>Total</th>
    <th>Over 1 year</th>
    <th>Fair value</th>
    <th></th>
  </tr>
  <tr>
    <td>Over-the-counter</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Currency swaps</td>
    <td>¥22,944,557</td>
    <td>¥15,000,880</td>
    <td>¥(197,861)</td>
    <td>¥(37,404)</td>
  </tr>
  <tr>
    <td>Currency swaptions:</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Sold</td>
    <td>812,380</td>
    <td>787,350</td>
    <td>(14,820)</td>
    <td>(14,820)</td>
  </tr>
  <tr>
    <td>Bought</td>
    <td>962,113</td>
    <td>861,923</td>
    <td>30,552</td>
    <td>30,552</td>
  </tr>
  <tr>
    <td>Forward foreign exchange</td>
    <td>34,515,123</td>
    <td>3,923,138</td>
    <td>116,047</td>
    <td>116,047</td>
  </tr>
  <tr>
    <td>Currency options:</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Sold</td>
    <td>3,835,995</td>
    <td>2,479,933</td>
    <td>(313,707)</td>
    <td>(313,707)</td>
  </tr>
  <tr>
    <td>Bought</td>
    <td>3,850,518</td>
    <td>2,578,255</td>
    <td>388,407</td>
    <td>388,407</td>
  </tr>
  <tr>
    <td>Other:</td>
    <td>51</td>
    <td>—</td>
    <td>1</td>
    <td>1</td>
  </tr>
  <tr>
    <td>Sold</td>
    <td>42</td>
    <td>—</td>
    <td>0</td>
    <td>0</td>
  </tr>
  <tr>
    <td>Total</td>
    <td>/</td>
    <td>/</td>
    <td>¥ 8,620</td>
    <td>¥169,077</td>
  </tr>
</table>

<table>
  <tr>
    <th rowspan="2">March 31</th>
    <th colspan="4">Contract amount</th>
    <th rowspan="2">Valuation gains (losses)</th>
  </tr>
  <tr>
    <th>Total</th>
    <th>Over 1 year</th>
    <th>Fair value</th>
    <th></th>
  </tr>
  <tr>
    <td>Over-the-counter</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Currency swaps</td>
    <td>$247,717</td>
    <td>$155,591</td>
    <td>$(4,722)</td>
    <td>$(340)</td>
  </tr>
  <tr>
    <td>Currency swaptions:</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Sold</td>
    <td>8,559</td>
    <td>8,082</td>
    <td>(282)</td>
    <td>(282)</td>
  </tr>
  <tr>
    <td>Bought</td>
    <td>11,412</td>
    <td>8,364</td>
    <td>466</td>
    <td>466</td>
  </tr>
  <tr>
    <td>Forward foreign exchange</td>
    <td>609,844</td>
    <td>233,320</td>
    <td>1,374</td>
    <td>1,374</td>
  </tr>
  <tr>
    <td>Currency options:</td>
    <td colspan="5"></td>
  </tr>
  <tr>
    <td>Sold</td>
    <td>36,731</td>
    <td>24,099</td>
    <td>(3,614)</td>
    <td>(3,614)</td>
  </tr>
  <tr>
    <td>Bought</td>
    <td>35,303</td>
    <td>22,790</td>
    <td>5,061</td>
    <td>5,061</td>
  </tr>
  <tr>
    <td>Total</td>
    <td>/</td>
    <td>/</td>
    <td>$(1,717)</td>
    <td>$(2,065)</td>
  </tr>
</table>

Notes:
1. The above transactions are valued at fair value and the valuation gains (losses) are accounted for in the consolidated statements of income.
2. Fair value is calculated using discounted present value and option pricing models.