Sony 2003 Annual Report Download - page 214
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Consolidated Financial Information 2003
- 128 -
Dollars in millions
Employee
termination
benefits
Non-cash
write-downs
and disposal
Other associated
costs
Tota l
Balance at March 31, 2002 $52 - $113 $165
Restructuring costs 391 $356 138 885
Non-cash charges - (352) - (352)
Cash payments (321) - (193) (514)
Adjustments 1 (4) (10) (13)
Balance at March 31, 2003 $123 - $48 $171
19. Research and development costs, advertising costs and shipping and handling costs
(1) Research and development costs:
Research and development costs charged to cost of sales for the years ended March 31, 2001, 2002 and
2003 were ¥416,708 million, ¥433,214 million and ¥443,128 million ($3,693 million), respectively.
(2) Advertising costs:
Advertising costs included in selling, general and administrative expenses for the years ended March 31,
2001, 2002 and 2003 were ¥389,359 million, ¥401,960 million and ¥442,741 million ($3,690 million),
respectively.
(3) Shipping and handling costs:
Shipping and handling costs for finished goods included in selling, general and administrative expenses for
the years ended March 31, 2001, 2002 and 2003 were ¥104,155 million, ¥98,800 million and ¥98,195 million
($818 million), respectively, which included the internal transfer costs of finished goods.
20. Gain on issuances of stock by equity investees
In August 2000, Monex Inc., which provides on-line security trading services in Japan, issued 150,000 shares
at ¥41,850 per share valued at ¥6,278 million in connection with its initial public offering. As a result of this
issuance, Sony recorded a gain of ¥1,900 million and provided deferred taxes on this gain. This issuance
reduced Sony’s ownership interest from 36.6% to 32.8%.
In August 2000, Crosswave Communications Inc., which provides high-capacity/high-speed network
services in Japan, issued 101,960 shares at ¥304,360 per share valued at ¥28,958 million after the deduction
of stock issue costs in connection with its initial public offering. As a result of this issuance, Sony recorded a
gain of ¥6,406 million and provided deferred taxes on this gain. This issuance reduced Sony’s ownership