Sony 2015 Annual Report Download - page 59

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Fiscal year ended March 31, 2015 compared to fiscal year ended March 31, 2014:
In the fiscal year ended March 31, 2015, Sony recorded restructuring charges of 98.0 billion yen, which
included 7.3 billion yen of non-cash charges related to depreciation associated with restructured assets, compared
to 80.6 billion yen of restructuring charges recorded in the fiscal year ended March 31, 2014. There were
5.0 billion yen of non-cash charges related to depreciation associated with restructured assets in the fiscal year
ended March 31, 2014. Restructuring charges increased by 17.4 billion yen or 21.6 percent year-on-year in the
fiscal year ended March 31, 2015. Of the total 98.0 billion yen in restructuring charges incurred in the fiscal year
ended March 31, 2015, 53.3 billion yen were personnel related costs, primarily included in SGA expenses in the
consolidated statements of income. These personnel-related costs increased 27.4 percent year-on-year.
Restructuring charges discussed in Item 5, which include non-cash charges related to depreciation
associated with restructured assets, are described in Note 19 of the consolidated financial statements.
Foreign Exchange Fluctuations and Risk Hedging
Fiscal year ended March 31, 2016 compared to fiscal year ended March 31, 2015:
During the fiscal year ended March 31, 2016, the average rates of the yen were 120.1 yen against the
U.S. dollar, which were 8.5 percent lower and 132.6 yen against the euro, which were 4.7 percent higher,
respectively, than the fiscal year ended March 31, 2015. For the latest yen exchange rates per U.S. dollar, refer to
“Selected Financial Data” in “Item 3. Key Information.”
For the fiscal year ended March 31, 2016, consolidated sales decreased 1.3 percent year-on-year (a 4 percent
decrease on a constant currency basis) to 8,105.7 billion yen. For references to information on a constant
currency basis, see Note at the bottom of this section.
Consolidated operating income increased 225.6 billion yen year-on-year (approximately 272.5 billion yen
increase on a constant currency basis) to 294.2 billion yen. The foreign exchange fluctuations had a negative
impact on the consolidated operating results mainly in Electronics.
Fiscal year ended March 31, 2015 compared to fiscal year ended March 31, 2014:
During the fiscal year ended March 31, 2015, the average rates of the yen were 109.9 yen against the
U.S. dollar and 138.8 yen against the euro, which were 8.8 percent and 3.2 percent lower, respectively, than the
fiscal year ended March 31, 2014. For the latest yen exchange rates per U.S. dollar, refer to “Selected Financial
Data” in “Item 3. Key Information.”
For the fiscal year ended March 31, 2015, consolidated sales increased 5.8 percent year-on-year (essentially
flat on a constant currency basis) to 8,215.9 billion yen. For references to information on a constant currency
basis, see Note at the bottom of this section.
Consolidated operating income increased 42.1 billion yen year-on-year (approximately 102.1 billion yen
increase on a constant currency basis) to 68.5 billion yen. The foreign exchange fluctuations had a positive
impact on the consolidated operating results mainly in Electronics.
59