Sony MPK-THC O-ring Maintenance Manual page 80

Compared with the previous fiscal year, net
cash used in investing activities increased due
to an increase in purchases of fixed assets, pri-
marily in the Electronics and Game segments.
In all segments excluding the Financial Services
segment, the amount of payments for invest-
ments and advances decreased by 90.5 billion
yen, or 73.1 percent, to 33.3 billion yen, com-
pared with the previous year, due to invest-
ments associated with the acquisition of
companies such as InterTrust Technologies
Corporation ("InterTrust") and an increase in
the capital stock of Sony Ericsson in the fiscal
year ended March 31, 2003. On the other
hand, the amount of proceeds from sales and
maturities of investments and collections of
advances in the segments other than Financial
Services segment decreased 113.5 billion yen,
or 76.2 percent to 35.5 billion yen compared
with the previous fiscal year, due to the sale of
Sony's equity interest in Telemundo in the pre-
vious fiscal year. In the Financial Services seg-
ment, net cash used in investing activities
decreased due to an increase in proceeds from
investments and advances.
In all segments excluding the Financial
Services segment, the difference between cash
generated from operating activities and cash
used in investing activities was a positive 48.6
billion yen for the fiscal year, a decrease of
309.6 billion yen, or 86.4 percent, compared
with the previous fiscal year.
Condensed Statements of Cash Flows Separating Out the Financial Services Segment
Year ended March 31
(Yen in millions)
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . .
Net cash used in investing activities . . . . . . . . . . . . . . . . . . . . . . . . .
Net cash provided by (used in) financing activities . . . . . . . . . . . . . . .
Effect of exchange rate changes on cash and cash equivalents . . . . .
Net increase (decrease) in cash and cash equivalents. . . . . . . . . . . . .
Cash and cash equivalents at beginning of year . . . . . . . . . . . . . . . .
Cash and cash equivalents at end of year . . . . . . . . . . . . . . . . . . . . .
78
Financing Activities: During the fiscal year
ended March 31, 2004, 313.3 billion yen of
net cash was provided by financing activities
(in the previous fiscal year, 93.1 billion yen of
net cash was used in financing activities). Of
the total, 153.8 billion yen of net cash was
procured through financing activities in all
segments excluding the Financial Services seg-
ment. Although 23.1 billion yen in cash was
used for the payment of dividends and 52.8
billion yen in commercial paper was repaid,
250.0 billion yen in euro yen convertible bonds
(bonds with stock acquisition rights) were
issued. In the Financial Services segment, due
to factors such as a 129.9 billion yen increase
in deposits from customers in the banking
business, net cash provided by financing
activities was 141.7 billion yen.
Accounting for all these factors and the
effect of exchange rate changes, the total
outstanding balance of cash and cash equiva-
lents at the end of the fiscal year increased
136.2 billion yen, or 19.1 percent, to 849.2
billion yen, compared with the end of the pre-
vious fiscal year. The total outstanding balance
of cash and cash equivalents of all segments
excluding the Financial Services segment in-
creased 154.4 billion yen, or 35.2 percent, to
592.9 billion yen and for the Financial Services
segment decreased 18.2 billion yen, or 6.6
percent, to 256.3 billion yen, compared with
the previous fiscal year.
Financial Services
2003
314,764
(516,663)
149,207
–
(52,692)
327,235
274,543
Cash flows
(Billion ¥)
1,000
800
600
400
200
0
–200
–400
–600
–800
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
* Year ended March 31
CONDENSED STATEMENTS OF CASH
FLOWS SEPARATING OUT THE FINANCIAL
SERVICES SEGMENT (UNAUDITED)
The following schedule shows unaudited con-
densed statements of cash flow for the Finan-
cial Services segment and all other segments
excluding the Financial Services segment as
well as condensed consolidated statements of
cash flow. These presentations are not required
under U.S. GAAP, which is used in Sony's
consolidated financial statements. However,
because the Financial Services segment is dif-
ferent in nature from Sony's other segments,
Sony believes that a comparative presentation
may be useful in understanding and analyzing
Sony's consolidated financial statements.
Transactions between the Financial Services
segment and all other segments excluding the
Financial Services segment are eliminated in
the consolidated figures shown below.
All other segments
excluding Financial Services
2004 2003
241,627 544,051
(401,550) (185,883) (352,496)
141,696 (251,247)
– (24,971)
(18,227) 81,950
274,543 356,565
256,316 438,515
02 03 04
Consolidated
2004 2003
401,090 853,788 632,635
(706,425) (761,792)
153,759 (93,134) 313,283
(47,973) (24,971) (47,973)
154,380 29,258 136,153
438,515 683,800 713,058
592,895 713,058 849,211
2004