JVC 2004 Annual Report Download - page 39

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Annual Report 2004 37.
Capital Expenditures/
Depreciation and Amortization
Capital expenditures during fiscal 2004 totaled ¥25.9
billion, 23.1%, or ¥4.9 billion, more than the previous
fiscal year. This increase represented investments related to
the development of new core technologies and the launch
of new digital products. Depreciation and amortization
declined 10.0%, or ¥2.5 billion, to ¥22.7 billion.
R&D Expenditures
R&D expenditures for fiscal 2004 totaled ¥40.6 billion, a
slight decrease of 1.0%, or ¥0.4 billion, compared to the
previous fiscal year, representing a ratio to net sales of
4.4%.
Personnel
The number of JVC employees on a consolidated basis at
fiscal year-end stood at 35,580, an increase of 1,088
employees compared to the previous fiscal year-end.