Toshiba 1998 Annual Report Download - page 35

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Toshiba Corporation Annual Report 1998 33.
in property, plant and equipm ent, net of depreciation . Other assets in creased ¥116.2 billion because of an increase in
intan gible fixed assets resulting from recognition of a m in im um pen sion liability adjustm en t. Total debt increased by
¥306.8 billion to ¥2,260.8 billion (US$17,127 m illion ), main ly due to the increase in parent-com pany debt resultin g
from th e issuan ce of bonds. Liability for severan ce in dem n ities increased by ¥123.6 billion because projected ben efit
obligation s rose due to a declin e in th e applicable discount rate. Lower retained earnings and th e recognition of a
m inim um pen sion liability adjustm en t caused sh areh olders’ equity to decrease by ¥63.2 billion com pared with the
previous year, to ¥1,201.6 billion (US$9,103 m illion).
CASH FLOWS
Net cash provided by operating activities was ¥272.8 billion (US$2,066 million ), com pared with ¥143.5 billion in th e
prior year. Th is was m ainly attributable to a decrease in notes an d accoun ts receivable, trade of ¥59.4 billion (US$450
m illion) and an in crease in depreciation and amortization to ¥293.8 billion (US$2,226 million ), prim arily for sem i-
con ductor-related facilities.
Net cash used in in vesting activities rose to ¥300.2 billion (US$2,274 m illion). Proceeds from sale of property an d
securities in creased to ¥79.4 billion (US$602 m illion ), m ainly due to th e sale of shares of Tim e Warn er Inc. an d oth er
m arketable securities. Acquisition of property an d equipm en t in creased as the com pany m ade investm ents in sem i-
con ductors an d other strategic products.
Net cash provided by fin ancin g activities rose to ¥65.6 billion (US$497 m illion). Progress con tin ued in reducin g
sh ort-term borrowings, while long-term debt rose, main ly the result of straight bond issues in Japan.
The result of th e above activities was a net in crease of ¥35.5 billion in cash an d cash equivalen ts to ¥615.9 billion
(US$4,666 million ).
PRINCIPAL SUBSIDIARIES AND AFFILIATED COMPANY
As of March 31, 1998 Percentage held by Group
Consolidated Subsidiaries:
Kitsuki Tosh iba Electronics Corporation . . . . . . . . . . 100
Kyodo Building Corporation . . . . . . . . . . . . . . . . . . . 100
Sh ibaura Engin eering Works Co., Ltd. . . . . . . . . . . . . 58
Toshiba Battery Co., Ltd. . . . . . . . . . . . . . . . . . . . . . . 100
Toshiba Buildin g & Lease Co., Ltd. . . . . . . . . . . . . . . 100
Toshiba Ch ubu Lifestyle-Electronics Corporation . . . 100
Toshiba Credit Corporation . . . . . . . . . . . . . . . . . . . . 100
Toshiba Device Corporation . . . . . . . . . . . . . . . . . . . 100
Toshiba Elevator Tech nos Co., Ltd. . . . . . . . . . . . . . . 100
Toshiba Engin eering Corporation . . . . . . . . . . . . . . . 100
Toshiba Hom e Technology Corporation . . . . . . . . . . 100
Toshiba Information System s (Japan) Corporation . . 88
Toshiba Insuran ce Service Corporation . . . . . . . . . . . 100
Toshiba Kan sai Lifestyle-Electronics Corporation . . . 100
Toshiba Kyushu Lifestyle-Electronics Corporation . . 100
Toshiba Logistics Corporation . . . . . . . . . . . . . . . . . . 100
Toshiba Microelectronics Corporation . . . . . . . . . . . 100
Toshiba Plan t Kensetsu Co., Ltd. . . . . . . . . . . . . . . . . 52
Toshiba Shutoken Lifestyle-Electronics Corporation
. . 99
Toshiba TLC Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100
Guan gdon g Tosh iba Macro Com pressor Ltd. . . . . . . 60
Toshiba (Australia) Pty., Ltd. . . . . . . . . . . . . . . . . . . . 100
Toshiba America Consum er Products, In c. . . . . . . . . 100
Toshiba America Electronic Com pon ents, Inc. . . . . . 100
Toshiba America In form ation System s, In c. . . . . . . . 100
Toshiba America MRI Inc. . . . . . . . . . . . . . . . . . . . . . 100
Toshiba America, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . 100
Toshiba Consum er Products (Th ailan d) Co., Ltd. . . . 89
Toshiba Display Devices Inc. . . . . . . . . . . . . . . . . . . . 100
Toshiba Electronics Asia (Sin gapore) Pte. Ltd. . . . . . . 100
Toshiba Electronics Asia, Ltd. . . . . . . . . . . . . . . . . . . . 100
Toshiba Electronics Malaysia Sdn . Bhd. . . . . . . . . . . . 100
Toshiba Europe GmbH . . . . . . . . . . . . . . . . . . . . . . . . 100
Toshiba Information System s (UK) Ltd.. . . . . . . . . . . 100
Toshiba Medical Systems Europe B.V. . . . . . . . . . . . . 100
Toshiba Systèm es (Fran ce) S.A.. . . . . . . . . . . . . . . . . . 100
Affiliated Com pany:
TEC Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47