Sharp 2014 Annual Report Download - page 38

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36 SHARP CORPORATION
Financial Section
Electronic Devices
Sales in this group increased by 20.6% from the previous year
to ¥326,393 million, thanks mainly to increased sales of various
sensors such as camera modules and proximity sensors for smart-
phones. Operating income amounted to ¥3,265 million, compared
with an operating loss of ¥15,519 million in the previous year.
Capital Investment and Depreciation
Capital investment totaled ¥49,434 million, down 40.0% from
the previous year. Much of this investment was allocated to ex-
pansion and improvement of production lines for small- and
medium-size LCDs, in order to meet flourishing demand for LCDs
for mobile devices such as smartphones and tablet terminals.
By business segment, capital investment was ¥21,262 million
for the Product Business and ¥25,822 million for the Device Busi-
ness. Unallocated capital investment amounted to ¥2,350 million.
Depreciation and amortization declined by 33.1% to
¥132,401 million.
Assets, Liabilities and Net Assets
Total assets amounted to ¥2,181,680 million, up ¥93,917 mil-
lion from the end of the previous year.
Assets
Current assets amounted to ¥1,374,244 million, up ¥152,409
million. This was due mainly to a ¥162,768 million increase in cash
and cash equivalents. Inventories declined by ¥15,583 million to
¥295,126 million. Included in inventories, finished products in-
creased ¥3,087 million to ¥160,460 million; work in process de-
clined ¥14,295 million to ¥76,136 million; and raw materials and
supplies were down ¥4,375 million to ¥58,530 million.
Property, plant and equipment, at cost, declined by ¥43,998
million to ¥519,701 million since the end of the previous year.
Investments and other assets amounted to ¥287,735 million,
down ¥14,494 million. This was due mainly to a decrease in other
assets, which outweighed an increase in investments in securities.
Liabilities
Current liabilities declined by ¥115,908 million to ¥1,551,625
million from the previous year. Short-term borrowings fell
¥130,915 million to ¥793,198 million. This stemmed from a
¥147,189 million decline in current portion of long-term debt
to ¥166,670 million, which was partially offset by a ¥16,274
million increase in bank loans to ¥626,528 million. Notes and ac-
counts payable increased by ¥4,289 million to ¥409,913 million.
Long-term liabilities rose ¥137,489 million to ¥422,882
million. This was due mainly to a ¥50,011 million increase in
long-term debt and recording of net defined benefit liability of
¥101,383 million.
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