Square Enix 2009 Annual Report Download - page 26

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Millions of yen
2009 2008
Net sales ¥135,693 ¥147,516
Cost of sales*1 79,527 81,201
Gross profit 56,166 66,314
Reversal of allowance for sales returns 1,135 2,271
Provision of allowance for sales returns 1,598 1,135
Net gross profit 55,703 67,450
Selling, general and administrative expenses
Packaging freight charge 2,169 2,421
Advertising expenses 5,546 5,892
Sales promotion expenses 417 642
Provision for doubtful accounts — 8
Compensation for directors 456 567
Salaries 14,097 15,889
Provision of reserve for bonuses 1,755 1,403
Net periodic pension cost 353 36
Provision to reserve for directors’ retirement benefits 20 47
Welfare expenses 1,799 2,024
Rental expenses 2,375 2,483
Commissions paid 3,399 3,209
Depreciation and amortization 1,397 1,463
Other*2 9,637 9,839
Total selling, general and administrative expenses 43,426 45,929
Operating income 12,277 21,520
Non-operating income
Interest income 696 959
Dividends received 12 2
Rental income 43 70
Investment profit on equity method — 23
Facilities installation assistance fund fees — 52
Miscellaneous income 157 258
Total non-operating income 909 1,367
Non-operating expenses
Interest expense 1 0
Foreign exchange loss 1,715 1,858
Loss on disposal of inventories — 119
Loss on write-offs of content production account — 1,799
Loss on inventory revaluation — 170
Investment loss on equity method 18 —
Miscellaneous loss 189 75
Total non-operating expenses 1,925 4,023
Recurring income 11,261 18,864
Extraordinary gain
Gain on sale of investment securities 0 64
Gain on divestiture of a business — 47
Reversal of allowance for doubtful accounts 13 204
Reversal of allowance for closing of game arcades — 1,098
Reversal of allowance for obligation related to legal proceedings 181 —
Other 33 24
Total extraordinary gain 228 1,439
Extraordinary loss
Loss on sale of property and equipment*3 26 145
Loss on disposal of property and equipment*4 790 950
Impairment loss*6 859 9
Loss on write-offs of bad debts — 170
Loss on revaluation of investment securities*5 120 55
Loss on disposal and write-downs of assets associated with business restructuring*7 — 1,302
Severance payments associated with business restructuring 30 45
Accelerated amortization of goodwill — 136
Provision of allowance for doubtful accounts — 452
Provision of allowance for closing of game arcades 286 54
Legal settlement payment 15 156
Other 221 140
Total extraordinary loss 2,350 3,618
Income before income taxes and minority interests and distribution of loss in a partnership (tokumei-kumiai ) 9,139 16,685
Distribution of loss in a partnership (tokumei-kumiai ) (14) 4
Income before income taxes and minority interests 9,153 16,681
Corporate, inhabitants’ and enterprise taxes 4,502 1,865
Refunded income taxes (1,841) (424)
Deferred income taxes 198 6,116
Total income taxes 2,859 7,558
Minority interests in consolidated subsidiaries (39) (73)
Net income ¥ 6,333 ¥ 9,196
The accompanying notes are an integral part of those statemets.
C o n s o l i d a t e d S t a t e m e n t s o f I n c o m e ( J P N G A A P )
SQUARE ENIX HOLDINGS CO., LTD. and Consolidated Subsidiaries
Years ended March 31
24