Sony 2015 Annual Report Download - page 164

SONY CORPORATION AND CONSOLIDATED SUBSIDIARIES
fair value of the remaining shares of M3, and allocated to identifiable tangible and intangible assets. The
intangible assets relate primarily to M3’s medical web-portal. The unassigned residual value of the excess is
recognized as goodwill as a component of the investment balance. The amounts allocated to intangible assets are
amortized net of the related tax effects to equity in net income (loss) of affiliated companies over their respective
estimated useful lives, principally 10 years, using the straight-line method.
With the exception of M3 as described above, there was no significant difference between Sony’s
proportionate share in the underlying net assets of the investees and the carrying value of investments in
affiliated companies at March 31, 2015 and 2016.
Several affiliated companies are quoted on the Tokyo Stock Exchange and Sony’s investments in these
companies have an aggregate carrying value and fair value of 108,421 million yen and 365,160 million yen,
respectively, as of March 31, 2016.
The number of affiliated companies accounted for under the equity method as of March 31, 2015 and 2016
were 98 and 102, respectively.
Account balances and transactions with affiliated companies accounted for under the equity method are
presented below. There are no other material transactions or account balances with any other related parties.
Yen in millions
March 31
2015 2016
Accounts receivable, trade 8,350 9,740
Accounts payable, trade 1,887 2,044
Capital lease obligations 50,001 21,025
Yen in millions
Fiscal year ended March 31
2014 2015 2016
Sales 23,647 29,393 33,569
Purchases 1,533 1,498 2,259
Lease payments 38,919 36,642 32,291
Sony entered into sale and leaseback transactions regarding certain machinery and equipment with SFI
Leasing Company, Limited (“SFIL”), a leasing company in Japan, in the fiscal years ended March 31, 2014,
2015 and 2016. SFIL is accounted for under the equity method and is 34% owned by Sony. Refer to Note 8.
Sony Supply Chain Solutions, Inc. is accounted for under the equity method and is 34% owned by Sony as a
result of the sale of the logistics business on April 1, 2015. After the sale, Sony Supply Chain Solutions, Inc.
changed the company name to MITSUI-SOKO Supply Chain Solutions, Inc. As of and for the fiscal year ended
March 31, 2016, account balances and transactions with MITSUI-SOKO Supply Chain Solutions, Inc. and its
subsidiaries were 4,741 million yen and 22,576 million yen, which are mainly included in accrued expenses and
general and administrative expenses, respectively.
Dividends from affiliated companies accounted for under the equity method for the fiscal years ended
March 31, 2014, 2015 and 2016 were 2,840 million yen, 6,149 million yen and 7,282 million yen, respectively.
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