Sony 2006 Annual Report Download - page 63

Download and view the complete annual report

Please find page 63 of the 2006 Sony annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 146

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146

61
arising from foreign currency translation adjustments in current
fiscal year due to the depreciation of the yen against the U.S.
dollar, partially offset by the recording of a change in accumulated
other comprehensive income of ¥38.1 billion arising from
unrealized gains on securities in the current fiscal year. The ratio
of stockholders’ equity to total assets remained unchanged at
30.2% compared to the previous fiscal year-end.
Long-term debt increased primarily due to the issuance of
straight bonds in order to redeem bonds maturing during the
fiscal years ending March 31, 2006 and March 31, 2007. Long-
term liabilities decreased as accrued pension and severance
costs decreased by ¥169.3 billion, or 50.1%, to ¥168.8 billion,
principally as a result of the transfer to the Japanese
Government of the substitutional portion of Sony’s Employee
Pension Fund.
Long-term liabilities on March 31, 2006 in the Financial
Services segment increased by ¥302.6 billion, or 11.0%, to
¥3,059.3 billion. This was due to an increase in insurance-in-
force in the life insurance business which resulted in an increase
in future insurance policy benefits and other of ¥280.0 billion, or
11.4%, to ¥2,744.3 billion.
■TOTAL INTEREST-BEARING DEBT
Total interest-bearing debt on March 31, 2006 increased by
¥192.0 billion, or 21.1%, to ¥1,101.2 billion, compared with the
previous fiscal year-end. Total interest-bearing debt on March
31, 2006 in all segments excluding the Financial Services
segment increased by ¥95.1 billion, or 11.4%, to ¥926.5 billion.
STOCKHOLDERS’ EQUITY
Stockholders’ equity on March 31, 2006 increased by ¥333.5
billion, or 11.6%, to ¥3,203.9 billion compared with the previous
fiscal year-end. Retained earnings increased ¥96.6 billion
compared with the previous fiscal year-end, and accumulated
other comprehensive income (net of tax) was ¥156.4 billion. This
was primarily due to comprehensive income of ¥140.5 billion
(Yen in billions)
Interest-bearing liabilities
■Short-term (including the current
portion of long-term debt)
■Long-term
*As of March 31
1,600
1,200
800
400
02004 2005 2006
(Yen)
Stockholders’ equity per share
of common stock
*As of March 31
4,000
3,000
2,000
1,000
02004 2005 2006
(Yen in billions)
Stockholders’ equity and
stockholders’ equity ratio
■ Stockholders’ equity
● Stockholders’ equity ratio
Stockholders’ equity ratio =
Stockholders’ equity/Total assets
*As of March 31
(%)
40
30
20
10
0
4,000
3,000
2,000
1,000
02004 2005 2006
30.2% 30.2%
26.2%