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SONY Group Chris Chiccarello ACG2021.008

Annual Report. SONY Group Chris Chiccarello ACG2021.008. http://www.sony.net/SonyInfo/IR/. Executive Summary. Although certain products had increased sales for the most part sales decreased 7% http://www.sony.net/SonyInfo/IR/financial/ar/2003/index.html. Part A. Introduction. Nobuyuki Idei

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SONY Group Chris Chiccarello ACG2021.008

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  1. Annual Report SONY GroupChris ChiccarelloACG2021.008 http://www.sony.net/SonyInfo/IR/

  2. Executive Summary Although certain products had increased sales for the most part sales decreased 7% http://www.sony.net/SonyInfo/IR/financial/ar/2003/index.html

  3. Part A. Introduction • Nobuyuki Idei • Sony Corporation of America, based in New York City, is the U.S. subsidiary of Sony Corporation, headquartered in Tokyo. • March 31,2003 • Sony manufactures audio, video, communications, and information technology products for the consumer and professional markets. • Sales in the United States for the fiscal year was $20 billion.

  4. Part A. Audit Report • Yoshiaki Yamauchi (Chairman), Sakie T. Fukushima, Akihisa Ohnishi • The committee’s main goal was to strengthen and improve management of the Sony Group. The company has just recently initiated the “Company with Committees” system.

  5. Part A. Stock Market Information • Current Stock Price $40.77 Q1Q2Q3Q4 High85.50 65.75 49.86 56.59 Low 65.80 33.20 33.72 41.00 • Dividend per share $0.19 • March 31, 2003 • In my opinion a stockholder of Sony should hold the stock and maybe even buy some more because it is on a rise, but not quite high enough to sell, and not to high that more cannot be bought.

  6. Part B. Industry Situation and Company Plans Sony Group is large corporation with good intentions. Sony has recently changed its way of business by initiating the “Company of Committees” system. In the future Sony plans further its entertainment and electronic division and merge the two even further. Sony hopes to implement new technology and further its electronic base making life a little bit easier for both the consumer and the business clients.

  7. Part C. Income Statement Sony’s annual report is in a multistep format • Gross Profit and Net Income increased dramatically from 2002 to 2003, while Income from operations only had a slight increase. Other than Income from Operations, some other source of income must have increased greatly to give us these figures.

  8. Part C. Balance Sheet In 2003 assets increased by 1,539 million dollars, but liabilities increased by close to 50% or 2,297 million dollars. Stockholder’s Equity for the most part only had a slight change.

  9. Part C. Statement of Cash Flows Cash flows from operations are more than net income for the past two years. Sony is actually selling off its investments in plant, property, and equipment. This may show an increase in technology, but this is yet to be seen. The company’s primary source of financing is short-term and long-term loans Overall, cash has increased over the past two years.

  10. Part D. Accounting Policies A significant accounting policies is that any abandoned development projects is charged directly to expense. Also, all film costs are classifies in the Balance Sheet

  11. Part E. Financial AnalysisLiquidity Ratios • Working Capital = $5,993 million • Current Ratio = 1.295 • Receivable turnover = 6.19 • Days Sales in A/R = 58.97 • Inventory turnover = 7.96 • Days of Inventory = 45.85

  12. Part E. Financial AnalysisProfitability Ratios • Profit margin = 2.004 • Asset turnover = 0.83 • Return on assets = 1.656 • Return on equity = 19.876

  13. Part E. Financial AnalysisSolvency Ratio • Debt to equity = 3.670 • According to the Debt to Equity Sony must report to the creditor’s because its Liabilities far out weigh its Stockholder’s Equity

  14. Part E. Financial AnalysisMarket Strength Ratios • Price/earnings per share = 1.36 • Dividend yield = .005

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