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90
SONY CORPORATION ANNUAL REPORT 2000
19. Research and development expenses and advertising costs
Advertising costs
Advertising costs included in selling, general and
administrative expenses for the years ended March 31,
1998, 1999 and 2000 were ¥268,985 million, ¥315,310
million and ¥293,303 million ($2,767 million),
respectively.
Yen in millions Dollars in millions
March 31 March 31 ,
Class of property 1999 2000 2000
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 2,277 ¥ 1 ,799 $ 1 7
Buildings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,616 15,713 1 48
Machinery and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,581 28,059 265
Accumulated amortization . . . . . . . . . . . . . . . . . . . . . . . . . . . . (11,730) (19,981) (189)
¥ 18,744 ¥ 25,590 $ 241
The following is a schedule by year of the future
minimum lease payments under capital leases together
with the present value of the net minimum lease pay-
ments as of March 31, 2000:
Year ending March 31 Yen in millions Dollars in millions
2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥10,222 $ 96
2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,857 84
2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,490 71
2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,721 44
2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,947 28
Later years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,243 78
Total minimum lease payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42,480 401
Less—Amount representing interest . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,672 63
Present value of net minimum lease payments . . . . . . . . . . . . . . . . . . . 35,808 338
Less—Current obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,420 89
Long-term capital lease obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥26,388 $249
Minimum lease payments have not been reduced by
minimum sublease income of ¥7,693 million ($73 mil-
lion) due in the future under noncancelable subleases.
Rental expenses under operating leases for the years
ended March 31, 1998, 1999 and 2000 were ¥87,564
million, ¥98,925 million and ¥91,340 million ($862
million), respectively. The minimum rental payments
required under operating leases that have initial or
remaining noncancelable lease terms in excess of one
year at March 31, 2000 are as follows:
Research and development expenses
Research and development expenses charged to cost of
sales for the years ended March 31, 1998, 1999 and
2000 were ¥318,044 million, ¥375,314 million and
¥394,479 million ($3,722 million), respectively.
20. Leased assets
Sony leases certain plant facilities, office space, ware-
houses, employees’ residential facilities and other assets.
An analysis of leased assets under capital leases is
as follows:
Year ending March 31 Yen in millions Dollars in millions
2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 40,351 $ 381
2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,392 324
2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,847 282
2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,259 219
2005 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,508 184
Later years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107,647 1,016
Total minimum future rentals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥255,004 $2,406