JVC 2007 Annual Report Download - page 34

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32
reflecting the write-off of idle assets. Investments and
advances decreased ¥8.2 billion, largely as a result of sales
of investment securities.
Total liabilities declined 6.6%, or ¥20.4 billion, to ¥286.9
billion. Current liabilities increased ¥700 million, to ¥249.3
billion, and short-term borrowings rose ¥15.7 billion, as the
maturity of some corporate bonds and long-term borrow-
ings declined to one year or less and they were moved into
the short-term borrowings classification. Total long-term lia-
bilities fell ¥21.2 billion, to ¥37.6 billion, reflecting the trans-
fer of some corporate bonds to the “due within one year”
category and a decline in long-term borrowings.
Stockholders’ equity (total net assets minus minority inter-
ests) decreased 4.0%, or ¥5.5 billion, to ¥130.8 billion.
Cash Flows
Net cash provided by operating activities amounted to ¥12.1
billion, compared with an inflow of ¥23.6 billion in the previ-
ous fiscal year, as the net loss in the fiscal year under review
was offset by depreciation and a decline in inventories.
Software & Media
Segment sales fell 8.4%, to ¥95.2 billion, and operating
income dropped ¥4.5 billion, to an operating loss of ¥1.9
billion. Although releases by popular artists signed to our
labels fared well, none of them became blockbuster hits,
and the downtrend in recordable media product selling
prices resulted in a decline in segment sales.
Other
Sales in the Other segment dropped 1.6%, to ¥4.6 billion.
Financial Position
Total assets as of March 31, 2007, were ¥420.7 billion,
down ¥26.1 billion, or 5.8%, from the end of the previous
fiscal year. Total current assets declined ¥14.7 billion, to
¥303.8 billion, despite a ¥9.9 billion increase in cash and
deposits compared with the level at the prior fiscal year-
end, mainly because inventories fell ¥15.3 billion and
deferred tax assets dropped ¥7.2 billion. Property, plant
and equipment slipped ¥2.3 billion, to ¥95.1 billion, mainly
’03 ’04 ’05 ’06 ’07 ’03 ’04 ’05 ’06 ’07’03 ’04 ’05 ’06 ’07
250
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500
750
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20
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-10
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Net Sales
(Billions of yen)
Net Income (Loss)
(Billions of yen)
Operating Income (Loss)
(Billions of yen)
Overseas
Domestic