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[48] Sony Corporation Annual Report 1998
[ Five-Year Summary of Selected Financial Data ]
Sony Corporation and Consolidated Subsidiaries •Year ended March 31
Dollars in
thousands except
Yen in millions except per share amounts per share amounts
1994 1995 1996 1997 1998 1998
FOR THE YEAR
Sales and operating revenue . . . ¥3,744,285 ¥3,990,583 ¥4,592,565 ¥5,663,134 ¥6,755,490 $51,177,955
Operating income (loss) . . . . . 106,962 (166,640) 235,324 370,330 520,210 3,940,985
Income (loss) before income
taxes . . . . . . . . . . . . . . . . . 102,162 (220,948) 138,159 312,429 453,749 3,437,492
Income taxes . . . . . . . . . . . . 78,612 65,173 77,158 163,570 214,868 1,627,788
Net income (loss) . . . . . . . . . 15,298 (293,356) 54,252 139,460 222,068 1,682,333
Per share data:
Net income (loss)
— Basic . . . . . . . . . . . . ¥ 41.0 ¥ (784.7) ¥ 145.1 ¥
367.7 ¥ 557.7 $ 4.23
— Diluted . . . . . . . . . . . 41.0 (784.7) 134.0 309.2 483.4 3.66
Cash dividends. . . . . . . . . . 50.0 50.0 50.0 55.0 60.0 0.45
Depreciation and amortization
*. . ¥ 242,458 ¥ 226,984** ¥ 227,316 ¥ 266,532 ¥ 301,665 $ 2,285,341
Capital expenditures
(additions to fixed assets) . . . 195,937 250,678 251,197 298,078 387,955 2,939,053
R&D expenses . . . . . . . . . . . . 229,877 239,164 257,326 282,569 318,044 2,409,424
AT YEAR-END
Net working capital . . . . . . . . ¥ 616,020 ¥ 537,733 ¥ 816,361 ¥ 843,500 ¥1,151,152 $ 8,720,849
Stockholders’ equity. . . . . . . . 1,329,496 1,007,802 1,169,147 1,459,332 1,815,555 13,754,205
Stockholders’ equity
per share . . . . . . . . . . . . . . ¥ 3,557.50 ¥ 2,695.31 ¥ 3,125.53 ¥ 3,798.62 ¥ 4,461.39 $ 33.80
Total assets . . . . . . . . . . . . . ¥4,269,816 ¥4,223,914 ¥5,045,699 ¥5,680,246 ¥6,403,043 $48,507,902
Number of shares issued at
year-end (thousands of shares) 373,728 373,911 374,068 384,185 407,195
* Including amortization of deferred insurance acquisition costs
** Excluding write-off of goodwill
Notes: 1. U.S. dollar amounts have been translated from yen, for convenience only, at the rate of ¥132=U.S.$1, the approximate Tokyo foreign
exchange market rate as of March 31, 1998, as described in Note 3 of Notes to Consolidated Financial Statements.
2. Net income (loss) per share amounts were computed based on Statement of Financial Accounting Standards No. 128, “Earnings per Share”
(FAS 128). All prior-period net income (loss) per share amounts have been restated to conform with FAS 128. FAS 128 requires presenta-
tion of basic and diluted net income per share on the face of the income statement. Under FAS 128, basic net income per share is
computed based on the average number of shares of common stock outstanding during each period and diluted net income per share
assumes the dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock
or resulted in the issuance of common stock. Refer to Note 4 of Notes to Consolidated Financial Statements.
3. During the fiscal year ended March 31, 1996, the Company changed its method of accounting for assessing the carrying values of intercom-
pany foreign currency commitments to comply with the Emerging Issues Task Force Issue No. 95-2. This did not have a material impact on
results of operations for the years ended March 31, 1996, 1997 and 1998.
4. The consolidated results for the fiscal year ended March 31, 1995 reflect the write-off of goodwill of ¥265 billion in the Pictures segment
and losses in the Pictures segment of approximately ¥50 billion arising from a combination of unusual items, such as abandoning a large
number of projects in development and providing for settlement of outstanding lawsuits and contract claims.
5. Certain amounts at year-end for the prior years have been reclassified to conform to the 1998 presentation.