Sony 2015 Annual Report Download - page 68
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Investments
The following table contains available-for-sale and held-to-maturity securities, including the breakdown of
unrealized gains and losses by investment category.
March 31, 2016
Cost
Unrealized
gain
Unrealized
loss
Fair
market
value
(Yen in millions)
Financial Services Business:
Available-for-sale
Debt securities
Sony Life 1,126,057 232,240 (100) 1,358,197
Sony Bank 602,027 9,285 (3,715) 607,597
Other 50,987 267 (9) 51,245
Equity securities
Sony Life 13,735 12,248 (10) 25,973
Sony Bank — — — —
Other 730 2,978 — 3,708
Held-to-maturity
Debt securities
Sony Life 5,382,999 2,027,169 — 7,410,168
Sony Bank 8,254 242 — 8,496
Other 71,250 21,769 — 93,019
Total Financial Services 7,256,039 2,306,198 (3,834) 9,558,403
Non-Financial Services:
Available-for-sale securities 33,914 55,455 (22) 89,347
Held-to-maturity securities — — — —
Total Non-Financial Services 33,914 55,455 (22) 89,347
Consolidated 7,289,953 2,361,653 (3,856) 9,647,750
At March 31, 2016, Sony Life had debt and equity securities with gross unrealized losses of 0.1 billion yen.
Sony Life principally invests in Japanese and foreign government and corporate bonds. Almost all of the debt
securities in which Sony Life invested were rated higher than or equal to “BBB” or its equivalent by Standard &
Poor’s Ratings Services (“S&P”), Moody’s Investors Service (“Moody’s”) or other rating agencies.
At March 31, 2016, Sony Bank had debt securities with gross unrealized losses of 3.7 billion yen. Of the
unrealized loss, 19.4 percent related to securities in an unrealized loss position for periods greater than 12 months
at March 31, 2016. Sony Bank principally invests in Japanese government bonds, Japanese corporate bonds and
foreign bonds. Almost all of these securities were rated higher than or equal to “BBB” or its equivalent by S&P,
Moody’s or other rating agencies.
These unrealized losses related to numerous investments, with no single investment being in a material
unrealized loss position for greater than 12 months. In addition, there was no individual security with unrealized
losses that met the test for impairment as the decline in values were small both in amount and percentage, and the
decline in values for those investments were still determined to be temporary in nature.
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