Sony 2007 Annual Report Download - page 74

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71
percent, to 351.5 billion yen. Capital expenditures in the semi-
conductor business within the Electronics segment, including
capital expenditures related to the Cell/B.E., totaled approxi-
mately 150.0 billion yen. Capital expenditures increased in the
Game segment by 8.4 billion yen, or 99.5 percent, to 16.8 billion
yen. In the Pictures segment, capital expenditures increased by
0.9 billion yen, or 8.6 percent to 11.0 billion yen. In All Other,
which includes Sony’s consolidated music business, 5.6 billion
yen of capital expenditures were recorded, compared to the
4.2 billion yen of capital expenditures recorded in the previous
fiscal year.
Property, plant and equipment on March 31, 2007 in the
Financial Services segment increased by 1.2 billion yen, or 3.3
percent, to 38.7 billion yen compared with the previous fiscal
year-end. Capital expenditures in the Financial Services segment
increased by 2.4 billion yen, or 53.4 percent, to 6.8 billion yen.
■OTHER ASSETS
Other assets on March 31, 2007 decreased by 18.7 billion yen,
or 1.2 percent, to 1,550.7 billion yen, compared with the
previous fiscal year-end.
Other assets on March 31, 2007 in all segments, excluding
the Financial Services segment, increased by 44.1 billion yen to
1,100.8 billion yen compared with the previous fiscal year-end.
Deferred tax assets on March 31, 2007 increased by 38.2
billion yen, or 21.4 percent, to 217.0 billion yen compared with
the previous fiscal year-end. The increase is due primarily to an
increase of deferred tax assets recorded in connection with tax
loss carryforwards of foreign subsidiaries in the Game segment.
Other assets in the Financial Services segment on March 31,
2007 decreased by 46.2 billion yen, or 8.4 percent, to 501.8
billion yen compared with the previous fiscal year-end.
LIABILITIES
Total current and long-term liabilities on March 31, 2007 increased
by 939.9 billion yen, or 12.8 percent, to 8,306.7 billion yen
compared with the previous fiscal year-end. Total current and
long-term liabilities on March 31, 2007 in all segments, excluding
the Financial Services segment, increased by 589.0 billion yen, or
16.6 percent, to 4,140.9 billion yen. Total current and long-term
liabilities in the Financial Services segment on March 31, 2007
increased by 363.2 billion yen, or 9.1 percent, to 4,337.7 billion
yen, compared with the previous fiscal year-end.
worldwide introduction of the PS3 platform. The inventory to
cost of sales turnover ratio (based on the average of inventories
at the end of each fiscal year and the previous fiscal year) was
1.78 months compared to 1.67 months at the end of the
previous fiscal year. Sony considers this level of inventory to be
appropriate in the aggregate.
Current assets on March 31, 2007 in the Financial Services
segment increased by 237.8 billion yen, or 27.9 percent, to
1,089.3 billion yen, compared with the previous fiscal year-end.
This increase was primarily due to an expansion of the life
insurance and banking businesses.
■INVESTMENTS AND ADVANCES
Investments and advances on March 31, 2007 increased by
368.8 billion yen, or 10.5 percent, to 3,888.7 billion yen,
compared with the previous fiscal year-end.
Investments and advances on March 31, 2007 in all seg-
ments, excluding the Financial Services segment, increased by
148.8 billion yen, or 31.3 percent, to 623.3 billion yen. This was
primarily a result of an increase in investments and advances
towards affiliated companies such as Sony Ericsson and S-LCD.
Investments and advances on March 31, 2007 in the Financial
Services segment increased by 216.6 billion yen, or 6.9 percent,
to 3,347.9 billion yen, compared with the previous fiscal year-
end. This increase was primarily due to investments mainly in
Japanese fixed income securities by Sony Life, which increased
assets as a result of an expansion of business, and an increase
in mortgage loans at Sony Bank.
Also refer to “Investments” below.
■PROPERTY, PLANT AND EQUIPMENT (AFTER DEDUCTION
OF ACCUMULATED DEPRECIATION)
Property, plant and equipment on March 31, 2007 increased by
33.0 billion yen, or 2.4 percent, to 1,421.5 billion yen, compared
with the previous fiscal year-end.
Property, plant and equipment on March 31, 2007 in all
segments, excluding the Financial Services segment, increased
by 31.7 billion yen, or 2.3 percent, to 1,382.9 billion yen,
compared with the previous fiscal year-end.
Capital expenditures (part of the increase in property, plant
and equipment) for the fiscal year ended March 31, 2007
increased by 29.8 billion yen, or 7.8 percent, to 414.1 billion yen
compared with the previous fiscal year. Capital expenditures in
the Electronics segment increased by 22.9 billion yen, or 7.0