DOCSLIB.ORG

Speech Transcript (FY2018 Earnings)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Speech Transcript (FY2018 Earnings) FY2018 Consolidated Financial Results (Fiscal year ended March 31, 2019) April 26, 2019 Sony Corporation Please be aware that, in the following remarks, statements made with respect to Sony‘s current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Sony. These statements are based on management’s assumptions in light of the information currently available to it, and, therefore, you should not place undue reliance on them. Sony cautions you that a number of important factors could cause actual results to differ materially from those discussed in the forward-looking statements. For additional information as to risks and uncertainties, as well as other factors that could cause actual results to differ, please refer to today's press release, which can be accessed by visiting www.sony.net/IR. FY2018 Consolidated Financial Results and FY2019 Consolidated Results Forecast Segments Outlook • I am CFO Hiroki Totoki. Thank you for your time today. • Today I would like to explain two topics. 1 FY2018 Consolidated Results (Bln Yen, Mln US dollar) FY18 FY17 FY18 Change USD Amount*1 Sales & operating revenue 8,544.0 8,665.7 +121.7 bln yen $ 78,140 （+1%） Operating income 734.9 894.2 +159.4 bln yen 8,063 （+22%） Income before income taxes 699.0 1,011.6 +312.6 bln yen 9,122 （+45%） Net income attributable to 490.8 916.3 +425.5 bln yen 8,262 Sony Corporation’s stockholders （+87%） Net income attributable to Sony Corporation’s stockholders per share of common stock (diluted) 379.75 yen 707.74 yen +327.99 yen 6.38 USD Sony without Financial Services*2 Operating Cash Flow +770.6 +753.4 -17.2 bln yen +6,794 Investing Cash Flow -164.0 -520.4 -356.4 bln yen -4,693 Total Cash Flow (Operating CF + Investing CF) +606.7 +233.1 -373.6 bln yen +2,102 Average rate Dividend per Share 1 US dollar 110.9 yen 110.9 yen Interim 15 yen Year-end 20 yen 1 Euro 129.7 yen 128.5 yen Full year 35 yen *1 US dollar amounts have been translated from yen, for convenience only, using the average rate listed on this slide.. *2 Please refer to F-12 in “ FY18 Financial Statements” for Condensed Statements of Cash Flows for Sony without Financial Services (applies to all following pages). Consolidated cash flow（Sony without Financial Services) is not a measure in accordance with U.S. GAAP. However, Sony believes that this disclosure may be useful information to investors. • FY18 consolidated sales increased 1% compared to the previous fiscal year (“year-on-year”) to 8 trillion 665.7 billion yen and operating income increased 159.4 billion yen to 894.2 billion yen. 2 Adjusted Operating Income Operating Adjusted Adjusted Operating Income excludes the following items* Income Operating Income Impairment charge against long-lived assets in the MC segment (-31.3 bln yen) Gain resulting from the sale of the entire equity interest in a manufacturing subsidiary in the camera module business (+28.3 bln yen) FY17 734.9 bln yen 709.6 bln yen Gain resulting from the sale of real estate held by a subsidiary in the Music segment (+10.5 bln yen) Insurance recoveries relating to the Kumamoto Earthquakes (+9.3 bln yen) Gain resulting from the sale of manufacturing equipment in the Semiconductors segment (+8.6 bln yen) Impairment charge against long-lived assets in the MC segment (-19.2 bln yen) Impairment charge against long-lived assets and goodwill in the All Other FY18 894.2 bln yen 809.3 bln yen segment (-12.9 bln yen) Remeasurement gain recorded in the Music segment as a result of the consolidation of EMI (+116.9 bln yen) Change from +159.4 bln yen +99.7 bln yen FY17 （+14%） * These monetary amounts have been disclosed in the Financial Statements, the Presentation slides and the Quarterly Securities Reports for the relevant quarters. Adjusted operating income is not a measure in accordance with U.S. GAAP. However, Sony believes that this disclosure may be useful information to investors. • As is shown in this slide, adjusted operating income excluding extraordinary items increased 99.7 billion yen year-on-year to 809.3 billion yen. 3 FY2018 Consolidated Results (Bln Yen, Mln US dollar) FY18 FY17 FY18 Change USD Amount* Sales & operating revenue 8,544.0 8,665.7 +121.7 bln yen $ 78,140 （+1%） Operating income 734.9 894.2 +159.4 bln yen 8,063 （+22%） Income before income taxes 699.0 1,011.6 +312.6 bln yen 9,122 （+45%） Net income attributable to 490.8 916.3 +425.5 bln yen 8,262 Sony Corporation’s stockholders （+87%） Net income attributable to Sony Corporation’s stockholders per share of common stock (diluted) 379.75 yen 707.74 yen +327.99 yen 6.38 USD Sony without Financial Services*2 Operating Cash Flow +770.6 +753.4 -17.2 bln yen +6,794 Investing Cash Flow -164.0 -520.4 -356.4 bln yen -4,693 Total Cash Flow (Operating CF + Investing CF) +606.7 +233.1 -373.6 bln yen +2,102 Average rate Dividend per Share 1 US dollar 110.9 yen 110.9 yen Interim 15 yen Year-end 20 yen 1 Euro 129.7 yen 128.5 yen Full year 35 yen *1 US dollar amounts have been translated from yen, for convenience only, using the average rate listed on this slide.. *2 Please refer to F-12 in “ FY18 Financial Statements” for Condensed Statements of Cash Flows for Sony without Financial Services (applies to all following pages). Consolidated cash flow（Sony without Financial Services) is not a measure in accordance with U.S. GAAP. However, Sony believes that this disclosure may be useful information to investors. • Income before income taxes exceeded 1 trillion yen for the first time in our history, reaching 1 trillion 11.6 billion yen. • Net income attributable to Sony Corporation’s stockholders increased 425.5 billion yen year- on-year to 916.3 billion yen. • Consolidated operating cash flow excluding the Financial Services segment for the fiscal year was 753.4 billion yen. 4 FY2018 Cash Flow (CF) by Segment (Sony without Financial Services) (Bln Yen) FY18 Operating CF +334.5 Game & Network Services (G&NS) Investing CF -37.0 Total +297.5 Operating CF +58.8 Music Investing CF -234.1 Total -175.3 Operating CF +50.1 Pictures Investing CF -18.8 Total +31.3 Operating CF +153.8 Combined total of HE&S・IP&S・MC Investing CF -64.3 Total +89.5 Operating CF +196.1 Semiconductors Investing CF -132.5 Total +63.7 All Other, Operating CF -39.8 Corporate and elimination Investing CF -33.7 and Adjustment* Total -73.5 Operating CF +753.4 Consolidated total Investing CF -520.4 without Financial Services Total +233.1 The calculation of Investing CF for each segment differs from the calculation of the Statement of Cash Flows for Sony without Financial Services (please refer to P.13 of "FY18 Financial Statement”) as follows: - Increases and decreases in fixed-term deposits held by each segment are excluded from Investing CF, and - Expenditures for capital leases are included in Investing CF (instead of Financial CF). These result in the following amount being adjusted in each of the Investing CF figures shown above: G&NS: -0.5 bln yen, Music: 1.4 bln yen, Pictures: -2.4 bln yen, HE&S/IP&S/MC Total: - 8 bln yen, Semiconductors: -0.4 bln yen, All Other and Corporate and elimination: -0.6 bln yen * “Adjustment” is the total offset to the above adjustments made to the Investing CF for each segment (10.7 bln yen). Cash Flow by segment are not a measure in accordance with U.S. GAAP. However, Sony believes that this disclosure may be useful information to investors. • We have begun to disclose cash flow by segment from this earnings announcement. • Excluding the Music segment in which we acquired EMI Music Publishing (“EMI”) in FY18, all of the business segments generated positive net cash flow (the difference between operating cash flow and investing cash flow). • The Game & Network Services segment and the total of the three segments included in the Electronics Products & Solutions segment, which was created on April 1, made significant contributions. 5 FY2018 Results by Segment (Bln Yen) FY17 FY18 Change FX Impact Sales 1,943.8 2,310.9 +367.1 -9.4 Game & Network Services (G&NS) Operating income 177.5 311.1 +133.6 -4.8 Sales 800.0 807.5 +7.5 +0.6 Music Operating income 127.8 232.5 +104.7 Sales 1,011.1 986.9 -24.2 +3.7 Pictures Operating income 41.1 54.6 +13.5 Home Entertainment & Sales 1,222.7 1,155.4 -67.3 -24.6 Sound (HE&S) Operating income 85.8 89.7 +3.8 -21.6 Imaging Products & Sales 655.9 670.5 +14.6 -3.7 Solutions (IP&S) Operating income 74.9 84.0 +9.1 -3.2 Mobile Communications Sales 723.7 498.0 -225.7 -4.9 （MC） Operating loss -27.6 -97.1 -69.5 +2.0 Sales 850.0 879.3 +29.3 +0.1 Semiconductors Operating income 164.0 143.9 -20.1 -0.5 Revenue 1,228.4 1,282.5 +54.2 Financial Services Operating income 178.9 161.5 -17.5 Sales 407.2 345.7 -61.4 All Other Operating income -23.5 -11.1 +12.4 Sales -298.8 -271.0 +27.8 Corporate and elimination Operating income -64.1 -74.7 -10.6 Sales 8,544.0 8,665.7 +121.7 Consolidated total Operating income 734.9 894.2 +159.4 ・Sales and Revenue in each business segment represents sales and revenue recorded before intersegment transactions are eliminated.
Load more

Recommended publications
  • Sony Kabushiki Kaisha
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F n REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ¥ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2010 or n TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from/to or n SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report: Commission file number 1-6439 Sony Kabushiki Kaisha (Exact Name of Registrant as specified in its charter) SONY CORPORATION (Translation of Registrant’s name into English) Japan (Jurisdiction of incorporation or organization) 7-1, KONAN 1-CHOME, MINATO-KU, TOKYO 108-0075 JAPAN (Address of principal executive offices) Samuel Levenson, Senior Vice President, Investor Relations Sony Corporation of America 550 Madison Avenue New York, NY 10022 Telephone: 212-833-6722, Facsimile: 212-833-6938 (Name, Telephone, E-mail and/or Facsimile Number and Address of Company Contact Person) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of Each Class Name of Each Exchange on Which Registered American Depositary Shares* New York Stock Exchange Common Stock** New York Stock Exchange * American Depositary Shares evidenced by American Depositary Receipts. Each American Depositary Share represents one share of Common Stock. ** No par value per share. Not for trading, but only in connection with the listing of American Depositary Shares pursuant to the requirements of the New York Stock Exchange.
    [Show full text]
  • Employees 18
    This document has been translated from the original document in Japanese (”Yukashouken Houkokusho”), which is legally required for Recruit Holdings as a listed company in Japan to support investment decisions by providing certain information about the Company for the fiscal year ended March 31, 2021 (“FY2020”), under Article 24, Paragraph 1 of the Financial Instruments and Exchange Act of Japan. The Japanese original document was filed to the Director-General of the Kanto Local Finance Bureau in Japan on June 18, 2021. Please refer to “Note Regarding Reference Translation” below as a general warning for this translation document. Document Name Annual Report translated from Yukashouken Houkokusho Filing Date June 18, 2021 Fiscal Year FY2020 (From April 1, 2020 to March 31, 2021) Company Name in English Recruit Holdings Co., Ltd. Title and Name of Hisayuki Idekoba Representative President, CEO and Representative Director of the Board Address of Head Office 8-4-17 Ginza, Chuo-ku, Tokyo, Japan (The above address is a registered headquarters. Actual headquarters operation is conducted in the Contact Location below) Telephone Number +81-3-6835-1111 Contact Person Junichi Arai Corporate Executive Officer Contact Location 1-9-2 Marunouchi, Chiyoda-ku, Tokyo, Japan Definition of Abbreviations In this document, the terms the “Company,” “Recruit Group,” “we,” and “our” refer to Recruit Holdings Co., Ltd. and its consolidated subsidiaries unless the context indicates otherwise. The “Holding Company” refers to Recruit Holdings Co., Ltd. (“Recruit Holdings”) on a standalone basis. The Company’s fiscal year starts on April 1 and ends on March 31 of each year. Accordingly, “FY2020” refers to the period from April 1, 2020 to March 31, 2021.
    [Show full text]
  • The Significance of Anime As a Novel Animation Form, Referencing Selected Works by Hayao Miyazaki, Satoshi Kon and Mamoru Oshii
    The significance of anime as a novel animation form, referencing selected works by Hayao Miyazaki, Satoshi Kon and Mamoru Oshii Ywain Tomos submitted for the degree of Doctor of Philosophy Aberystwyth University Department of Theatre, Film and Television Studies, September 2013 DECLARATION This work has not previously been accepted in substance for any degree and is not being concurrently submitted in candidature for any degree. Signed………………………………………………………(candidate) Date …………………………………………………. STATEMENT 1 This dissertation is the result of my own independent work/investigation, except where otherwise stated. Other sources are acknowledged explicit references. A bibliography is appended. Signed………………………………………………………(candidate) Date …………………………………………………. STATEMENT 2 I hereby give consent for my dissertation, if accepted, to be available for photocopying and for inter-library loan, and for the title and summary to be made available to outside organisations. Signed………………………………………………………(candidate) Date …………………………………………………. 2 Acknowledgements I would to take this opportunity to sincerely thank my supervisors, Elin Haf Gruffydd Jones and Dr Dafydd Sills-Jones for all their help and support during this research study. Thanks are also due to my colleagues in the Department of Theatre, Film and Television Studies, Aberystwyth University for their friendship during my time at Aberystwyth. I would also like to thank Prof Josephine Berndt and Dr Sheuo Gan, Kyoto Seiko University, Kyoto for their valuable insights during my visit in 2011. In addition, I would like to express my thanks to the Coleg Cenedlaethol for the scholarship and the opportunity to develop research skills in the Welsh language. Finally I would like to thank my wife Tomoko for her support, patience and tolerance over the last four years – diolch o’r galon Tomoko, ありがとう 智子.
    [Show full text]
  • Annual Report 2013 201 3 年
    Annual Report 2013 201 3 年 3 月期 アニュアルレポート 2013年 3月期 ソニー株式会社 Annual Report 2013 Business and CSR Review Contents For further information, including video content, please visit Sony’s IR and CSR websites. Letter to Stakeholders: 2 A Message from Kazuo Hirai, President and CEO 16 Special Feature: Sony Mobile 22 Special Feature: CSR at Sony Business Highlights Annual Report 26 http://www.sony.net/SonyInfo/IR/financial/ar/2013/ 28 Sony Products, Services and Content 37 CSR Highlights 55 Financial Section 62 Stock Information CSR/Environment http://www.sony.net/csr/ 63 Investor Information Investor Relations http://www.sony.net/SonyInfo/IR/ Annual Report 2013 on Form 20-F Effective from 2012, Sony has integrated its printed annual http://www.sony.net/SonyInfo/IR/library/sec.html and corporate social responsibility (CSR) reports into Financial Services Business one report that provides essential information on related (Sony Financial Holdings Inc.) developments and initiatives. http://www.sonyfh.co.jp/index_en.html 1 Letter to Stakeholders: A Message from Kazuo Hirai, President and CEO 2 BE MOVED Sony is a company that inspires and fulfills the curiosity of people from around the world, using our unlimited passion for technology, services and content to deliver groundbreaking new excitement and entertainment to move people emotionally, as only Sony can. 3 Fiscal year 2012, ended March 31, 2013, was my first year as President and CEO of Sony. It was a year full of change that enabled us to build positive momentum across the Sony Group. Since becoming President, I visited 45 different Sony Group sites in 16 countries, ranging from electronics sales offices to manufacturing facilities, R&D labs, and entertainment and financial services locations.
    [Show full text]
  • Consolidated Financial Statements for the Fiscal Year Ended March 31, 2014
    Consolidated Financial Statements For the fiscal year ended March 31, 2014 Sony Corporation TOKYO, JAPAN Contents Management’s Annual Report on Internal Control over Financial Reporting 2 Report of Independent Registered Public Accounting Firm 3 Consolidated Balance Sheets 4 Consolidated Statements of Income 6 Consolidated Statements of Comprehensive Income 8 Consolidated Statements of Cash Flows 9 Consolidated Statements of Changes in Stockholders’ Equity 11 Index to Notes to Consolidated Financial Statements 14 Notes to Consolidated Financial Statements 15 1 Management’s Annual Report on Internal Control over Financial Reporting Sony’s management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. Sony’s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles in the United States of America. Sony’s internal control over financial reporting includes those policies and procedures that: (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of Sony; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of Sony are being made only in accordance with authorizations of management and directors; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of Sony’s assets that could have a material effect on the financial statements.
    [Show full text]
  • Sony Computer Entertainment Inc. Introduces Playstation®4 (Ps4™)
    FOR IMMEDIATE RELEASE SONY COMPUTER ENTERTAINMENT INC. INTRODUCES PLAYSTATION®4 (PS4™) PS4’s Powerful System Architecture, Social Integration and Intelligent Personalization, Combined with PlayStation Network with Cloud Technology, Delivers Breakthrough Gaming Experiences and Completely New Ways to Play New York City, New York, February 20, 2013 –Sony Computer Entertainment Inc. (SCEI) today introduced PlayStation®4 (PS4™), its next generation computer entertainment system that redefines rich and immersive gameplay with powerful graphics and speed, intelligent personalization, deeply integrated social capabilities, and innovative second-screen features. Combined with PlayStation®Network with cloud technology, PS4 offers an expansive gaming ecosystem that is centered on gamers, enabling them to play when, where and how they want. PS4 will be available this holiday season. Gamer Focused, Developer Inspired PS4 was designed from the ground up to ensure that the very best games and the most immersive experiences reach PlayStation gamers. PS4 accomplishes this by enabling the greatest game developers in the world to unlock their creativity and push the boundaries of play through a system that is tuned specifically to their needs. PS4 also fluidly connects players to the larger world of experiences offered by PlayStation, across the console and mobile spaces, and PlayStation® Network (PSN). The PS4 system architecture is distinguished by its high performance and ease of development. PS4 is centered around a powerful custom chip that contains eight x86-64 cores and a state of the art graphics processor. The Graphics Processing Unit (GPU) has been enhanced in a number of ways, principally to allow for easier use of the GPU for general purpose computing (GPGPU) such as physics simulation.
    [Show full text]
  • Sony Financial Holdings Inc
    Profi le Sony Financial Holdings Inc. (SFH) is a fi nancial holding company with three core subsidiaries: Sony Life Insurance Co., Ltd. (Sony Life), Sony Assurance Inc. (Sony Assurance) and Sony Bank Inc. (Sony Bank). Corporate Vision The Sony Financial Group seeks to become the most highly trusted fi nancial services group by cus- tomers. To this end, the Group will combine many different fi nancial functions (savings, investment, borrowing and protection) to provide high-value-added products and high-quality fi nancial services that meet every customer’s fi nancial needs. Corporate Philosophy Put the Customer First We will provide fi nancial products and services that satisfy customers by embracing their individual views, to ensure that we help them lead prosperous lives with fi nancial security. Give Back to Society We believe that a special commitment to the public good is demanded of a fi nancial services company. Conscious of this, we will realize our vision by upholding the highest level of ethics and a strong sense of purpose, and thereby give back to society. In addition, we will fulfi ll our responsibilities as a good corporate citizen and member of society. Strive for Originality We will constantly strive to come up with fresh ideas from basic principles as we pursue creativity and innovation, instead of merely following custom and convention. Foster an Open Corporate Culture We believe that every employee’s contribution is important to develop our ideal of a fi nancial services company. We will thus foster an open corporate culture where employees can freely express their individuality and demonstrate their abilities to the fullest.
    [Show full text]
  • Annual R E P O Rt 2007
    Annual R e p o r t 2007 2007 年 3 月 期 アニュアルレポート 2007年 3月期 ソニー株式会社 Printed in Japan Contents Financial Highlights Pictures: An Interview 2 21 with Top Management Letter to Shareholders: Collaboration in 4 A Message from 25 the Music Business Howard Stringer, CEO 8 “Sony United” 26 Business Overview Electronics: A Discussion Review of Operations 10 among Top Management 28 Electronics Game: An Interview Game 17 with Top Management 34 28 Sony United: Where Sony’s Revolution Begins Entertainment Financial Section 38 56 Table of Contents 43 Financial Services 57 A Message from the CFO 45 Research and Development 110 Stock Information Corporate Governance/ Stock Acquisition Rights 48 New Directors and 111 and Bond Information Corporate Executive Officers 52 Corporate Social Responsibility 112 Investor Information Cover pag e design c The representa oncept: tion of the ener gy created through “Sony Unit ed”—the collab oration of Sony’s many bus inesses, people and technolog ies 291 Financial Highlights Sony Corporation and Consolidated Subsidiaries Years ended March 31 Dollars in millions* Yen in millions Percent except per except per share amounts and number of employees change share amounts 2005 2006 2007 2007/2006 2007 FOR THE YEAR Sales and operating revenue . ¥7,191,325 ¥7,510,597 ¥ 8,295,695 +10.5.% $70,303 Operating income. 145,628 226,416 71,750 –68.3. 608 Income before income taxes . 157,207 286,329 102,037 –64.4. 865 Income taxes . 16,044 176,515 53,888 –69.5. 457 Equity in net income of affiliated companies .
    [Show full text]
  • Boisvert-Storey-Sony Case Brief
    Storey C204 Summer 2014 Case Study BE MOVED SITUATION Sony Corporation is a 68-year old multinational based in Tokyo. In 2012, the tech giant employed 173,000 people, with corporate headquarters in Japan, Europe, and America. In May 2014, the company was down to 146,300, cutting 26,700 as part of CEO Kaz Hirai’s “One Sony” plan. Recently, the firm eVen sold former office buildings in Tokyo for $156 million (Inagaki). This followed a similar $1.2 billion sale in 2013. After seVeral years of losses, Sony’s situation appears critical. In the last fiscal year, the company lost $1.25 billion. EVen the gaming diVision, where the Playstation console family (PS2, PS3, PS4) is projected to sell 17 million units this year, lost $78 million (Quarterly Results). There are many causes: Sony’s jettisoning of its PC brand Vaio, the poor performance and planned spinoff of Sony’s teleVision diVision, PS4 launch and marketing costs, the struggling PSVita, R&D costs for Sony’s Project Morpheus, and the fluctuation of exchange rate markets. For the current year, Sony is projecting a $489 million loss. How sustainable is Sony’s current business model? Will the success of the PS4 lead to renewed profitability for the games diVision and the company as a whole? Perhaps opportunities in new markets can spark a turn-around. The company’s core businesses are electronic entertainment (Sony Computer Entertainment, Sony Music Entertainment, and Sony Pictures Entertainment) and hardware (Sony Mobile Communications and Sony Electronics). Though it also dabbles in financial serVices, publishing, and medical imaging, electronics represents roughly two-thirds of the corporation’s reVenue (Sony Annual Report 2011, 2013).
    [Show full text]
  • Annual Report April 1, 2018–March 31, 2019 Contents
    2019 Annual Report April 1, 2018–March 31, 2019 Contents 1 Introduction 52 Corporate Section 1 Sony Financial Group’s Mission, 52 Corporate Profile Vision & Values 53 Profiles of Group Companies 2 History 54 Stock Information 4 Financial and Non-financial Highlights 6 Message from the President 56 Reference Materials 11 Sustainability Initiatives 56 Review of Operations / Organizational Chart of Business Operations 12 Strategy and Review 57 Financial Highlights 12 Sony Financial Group 58 SFH Consolidated Financial Statements 16 Sony Life 66 Segment Information 20 Sony Assurance 68 Other Financial Data 24 Sony Bank 70 Relationship with Parent Company, 28 Nursing Care Business Sony Corporation 71 Financial Data Book Contents 30 Initiatives to Strengthen 72 Glossary Our Foundation for Creating Value 30 Corporate Governance 48 Human Resources 50 The Environment 51 Communication with Stakeholders Editorial Policy SFH refers to “Guidance for Collaborative Value Disclaimer Creation” published by the Ministry of Economy, This annual report contains statements concerning the current plans, expectations, Trade and Industry when organizing and examining strategies and beliefs of the SFG. Any statements contained herein that are not historical matters to be listed in this report, in order to facts are forward-looking statements or pro forma information. Forward-looking statements may include̶but are not limited to̶words such as “believe,” “anticipate,” “plan,” “strategy,” make this report a starting point for dialogue with “expect,” “assume,” “forecast,” “predict,” “propose,” “intend” and “possibility” that describe shareholders and investors. future operating activities, business performance, events or conditions. Forward-looking statements, whether spoken or written, may also be included in other materials released to the public.
    [Show full text]
  • Annual Report 2003 Report Annual
    Ended March 31, 2003 Ended31, March Year Annual Report 2003 Annual Annual Report 2003 Ye ar Ended March 31 2003 Financial Highlights Sony Corporation and Consolidated Subsidiaries Year ended March 31 Yen in millions Dollars in except per share amounts and millions* except number of employeesPercent change per share amounts 2002 2003 2003/2002 2003 FOR THE YEAR Sales and operating revenue ¥7,578,258 ¥7,473,633 –1.4% $62,280 Operating income 134,631 185,440 +37.7 1,545 Income before income taxes 92,775 247,621 +166.9 2,064 Income before cumulative effect of accounting changes 9,332 115,519 +1,137.9 963 Net income 15,310 115,519 +654.5 963 Per share data: Income before cumulative effect of accounting changes —Basic ¥ 10.21 ¥ 125.74 +1,131.5% $ 1.05 —Diluted 10.18 118.21 +1,061.2 0.99 Net income —Basic 16.72 125.74 +652.0 1.05 —Diluted 16.67 118.21 +609.1 0.99 Cash dividends 25.00 25.00 0.21 AT YEAR-END Stockholders’ equity ¥2,370,410 ¥2,280,895 –3.8% $19,007 Total assets 8,185,795 8,370,545 +2.3 69,755 Number of employees 168,000 161,100 * U.S. dollar amounts have been translated from yen, for convenience only, at the rate of ¥120=U.S.$1, the approximate Tokyo foreign exchange market rate as of March 31, 2003. Please refer to pages 61 and 62 for detailed footnotes to the table above. Sony Corporation Annual Report 2003 Contents To Our Shareholders .
    [Show full text]
  • Annual Report
    Annual Report Growth and Value Creation Growth and Value Creation The Sony Financial Holdings Group (the SFH Group) works to differentiate itself from competitors in its three businesses, namely, life insurance, non-life insurance and banking by building a unique and distinctive business model. The SFH Group also strives to provide customer-oriented and highly convenient financial products and services to individual customers. In addition to sustainable growth in these three businesses, SFH Group aims at raising its corporate value by creating group-wide synergies and entering into new business domains. Contents Financial Highlights ................................. 1 SFH Group Company Profiles SFH Group Growth Strategies ........................... 2 About Sony Life ................................. 30 About the Sony Financial Holdings Group .................... 4 About Sony Assurance ............................. 36 Management Message ............................... 6 About Sony Bank ................................. 40 About Sony Bank Securities .......................... 44 Corporate Governance and CSR Section Corporate Governance .............................. 11 Financial Section Social Contributions and Environmental Activities ............ 18 Analysis of Operating Performance for FY2008 ............. 46 SFH Consolidated Financial Statements .................. 62 Corporate Section Capital Adequacy Status ........................... 83 Corporate Information .............................. 22 Sony Life's Financial Data .........................
    [Show full text]