Sony 2008 Annual Report Download - page 64

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62
in Nagasaki, including machinery and equipment, “The Sony
Center am Potsdamer Platz” in Berlin and a portion of the site of
Sony’s former headquarters.
Property, plant and equipment as of March 31, 2008 in the
Financial Services segment decreased by 0.2 billion yen, or 0.4
percent, to 38.5 billion yen compared with the previous fiscal
year-end. Capital expenditures in the Financial Services segment
decreased by 0.5 billion yen, or 6.7 percent, to 6.4 billion yen
compared with the previous fiscal year.
Consolidated capital expenditures for the fiscal year ending
March 31, 2009 are expected to increase 28 percent to 430
billion yen primarily within the Electronics segment. For the
Electronics segment, capital expenditures in the semiconduc-
tor business during the fiscal year are expected to increase by
approximately 20 billion yen to approximately 110 billion yen
due to an increase in the amount invested in image sensors.
■ OTHER ASSETS
Other assets as of March 31, 2008 increased by 109.2 billion
yen, or 7.0 percent, to 1,659.8 billion yen compared with the
previous fiscal year end.Deferred tax assets as of March 31,
2008 decreased by 18.3 billion yen, or 8.4 percent, to 198.7
billion yen compared with the previous fiscal year end.
LIABILITIES
Total current and long-term liabilities as of March 31, 2008
increased by 504.1 billion yen, or 6.1 percent, to 8,810.8 billion
yen compared with the previous fiscal year-end. Total current and
long-term liabilities as of March 31, 2008 in all segments, exclud-
ing the Financial Services segment, decreased by 173.4 billion
yen, or 4.2 percent, to 3,967.5 billion yen. Total current and
long-term liabilities in the Financial Services segment as of March
31, 2008 increased by 646.7 billion yen, or 14.9 percent, to
4,984.4 billion yen compared with the previous fiscal year-end.
■ CURRENT LIABILITIES
Current liabilities as of March 31, 2008 increased by 471.5
billion yen, or 13.3 percent, to 4,023.4 billion yen compared
with the previous fiscal year-end. Current liabilities as of
March 31, 2008 in all segments excluding the Financial
Services segment increased by 57.9 billion yen, or 2.2
percent, to 2,698.5 billion yen.
Short-term borrowings and the current portion of long-term
debt as of March 31, 2008 in all segments, excluding the
Financial Services segment, increased by 258.5 billion yen, or
■ IINVESTMENTS AND ADVANCES
Investments and advances as of March 31, 2008 increased
by 446.9 billion yen, or 11.5 percent, to 4,335.6 billion yen
compared with the previous fiscal year-end.
Investments and advances as of March 31, 2008 in all
segments, excluding the Financial Services segment, decreased
by 104.8 billion yen, or 16.8 percent, to 518.5 billion yen. This
was primarily due to the receipt of a capital redemption payment
and dividends from Sony Ericsson.
Investments and advances as of March 31, 2008 in the
Financial Services segment increased by 532.0 billion yen, or
15.9 percent, to 3,879.9 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 its business, and
an increase in mortgage loans outstanding at Sony Bank.
■ PROPERTY, PLANT AND EQUIPMENT (AFTER DEDUCTION
OF ACCUMULATED DEPRECIATION)
Property, plant and equipment as of March 31, 2008 decreased
by 178.2 billion yen, or 12.5 percent, to 1,243.3 billion yen
compared with the previous fiscal year-end.
Property, plant and equipment as of March 31, 2008 in all
segments, excluding the Financial Services segment, decreased
by 178.0 billion yen, or 12.9 percent, to 1,204.8 billion yen
compared with the previous fiscal year-end.
Capital expenditures (additions to property, plant and
equipment) for the fiscal year ended March 31, 2008
decreased by 78.4 billion yen, or 18.9 percent, to 335.7
billion yen compared with the previous fiscal year. Capital
expenditures in the Electronics segment decreased by 44.8
billion yen, or 12.7 percent, to 306.7 billion yen. Of this
amount, approximately 90 billion yen was used for capital
expenditures in the semiconductor business, including CCDs
and CMOS imaging sensors. Capital expenditures decreased
in the Game segment by 11.1 billion yen, or 66.4 percent, to
5.6 billion yen. In the Pictures segment, capital expenditures
decreased by 1.0 billion yen, or 9.5 percent to 9.9 billion yen.
In All Other, which includes the part of Sony’s music business
which is consolidated, 3.0 billion yen of capital expenditures
were recorded, a decrease of 2.7 billion yen, or 47.4 percent
compared with the previous fiscal year.
Other changes resulting in a decrease in property, plant and
equipment as of March 31, 2008 compared to March 31, 2007
include the sale of a portion of Sony’s semiconductor operations