Sony 2015 Annual Report Download - page 201

SONY CORPORATION AND CONSOLIDATED SUBSIDIARIES
(4) Equity transactions with noncontrolling interests
Net income (loss) attributable to Sony Corporation’s stockholders and transfers (to) from the noncontrolling
interests for the fiscal years ended March 31, 2014, 2015 and 2016 were as follows:
Yen in millions
Fiscal year ended March 31
2014 2015 2016
Net income (loss) attributable to Sony Corporation’s stockholders (128,369) (125,980) 147,791
Transfers (to) from the noncontrolling interests:
Decrease in additional paid-in capital for purchase of additional shares
in consolidated subsidiaries 28 (2,483) (12,776)
Change from net income (loss) attributable to Sony Corporation’s
stockholders and transfers (to) from the noncontrolling interests (128,341) (128,463) 135,015
17. Stock-based compensation plans
The stock-based compensation expense for the fiscal years ended March 31, 2014, 2015 and 2016 was
1,068 million yen, 1,286 million yen and 1,944 million yen, respectively. The total cash received from exercises
under all of the stock-based compensation plans during the fiscal years ended March 31, 2014, 2015 and 2016
was 200 million yen, 1,637 million yen and 1,578 million yen, respectively. Sony issued new shares upon
exercise of these rights.
Sony has a stock-based compensation incentive plan for selected directors, corporate executive officers and
employees in the form of a stock acquisition rights plan. The stock acquisition rights generally have three year
graded vesting schedules and are exercisable up to ten years from the date of grant.
The weighted-average fair value per share at the date of grant of stock acquisition rights granted during the
fiscal years ended March 31, 2014, 2015 and 2016 was 821 yen, 1,139 yen and 1,331 yen, respectively. The fair
value of stock acquisition rights granted on the date of grant and used to recognize compensation expense for the
fiscal years ended March 31, 2014, 2015 and 2016 was estimated using the Black-Scholes option-pricing model
with the following weighted-average assumptions:
Fiscal year ended March 31
2014 2015 2016
Weighted-average assumptions
Risk-free interest rate 1.43% 1.26% 1.07%
Expected lives 7.13 years 7.35 years 7.12 years
Expected volatility*52.03% 51.69% 42.07%
Expected dividends 1.55% 1.24% 0.75%
* Expected volatility was based on the historical volatilities of Sony Corporation’s common stock over
the expected life of the stock acquisition rights.
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