Sony 1999 Annual Report Download - page 58

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56
page
Sony Corporation Annual Report 1999
7. Inventories
Inventories comprise the following:
Yen in millions Dollars in thousands
March 31 March 31,
1998 1999 1999
Current:
Finished products . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥630,613 ¥525,548 $4,379,567
Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110,035 101,754 847,950
Raw materials, purchased components and supplies . . . . . . . . . 134,392 133,629 1,113,575
Film — released . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104,585 110,740 922,833
— in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,302 6,227 51,892
¥993,927 ¥877,898 $7,315,817
Noncurrent:
Film — released . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥172,515 ¥159,877 $1,332,308
— in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76,551 84,660 705,500
¥249,066 ¥244,537 $2,037,808
8. Account balances and transactions with affiliated companies
Account balances and transactions with affiliated companies are presented below:
Yen in millions Dollars in thousands
March 31 March 31,
1998 1999 1999
Accounts receivable, trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥9,425 ¥14,744 $122,867
Accounts payable, trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 945 132 1,100
Yen in millions Dollars in thousands
Year ended March 31 Year ended
1997 1998 1999 March 31, 1999
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥96,183 ¥27,419 ¥25,885 $215,708
Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . 733 3,199 1,932 16,100
Dividends from affiliated companies accounted for by
the equity method for the years ended March 31, 1997, 1998 and 1999 were ¥3,071 million, ¥1,074 million and
¥5,017 million ($41,808 thousand), respectively.
6. Proceeds from merger of Loews Theatres exhibition business
consolidates the results of Loews; Loews’ results are now
reported on an equity basis. In connection with the
Loews merger and the subsequent public offering, Sony
received proceeds of ¥53,007 million ($441,725 thou-
sand) and recorded a gain of ¥5,181 million ($43,175
thousand), which is reflected in other income-other.
During the quarter ended June 30, 1998, Sony merged its
Loews Theatres exhibition business with Cineplex Odeon
Corporation to create Loews Cineplex Entertainment
Corporation (“Loews”). Subsequent to the merger, Loews
completed a public offering of its common stock. After
these transactions, Sony’s ownership in Loews is 39.5%.
As a result of these transactions, Sony no longer