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Page
56.
TOSHIBA ANNUAL REPORT 1999
7. INVESTMENTS IN AFFILIATED COMPANIES:
Of the affiliated companies which are accounted for by the equity method, the investment in common stock of the listed com-
panies is carried at ¥79,273 million ($655,149 thousand) and ¥131,302 million at March 31, 1999 (six companies) and 1998 (eight
companies), respectively. The company’s investments in these companies had a market value of ¥74,463 million ($615,397
thousand) and ¥156,879 million at March 31, 1999 and 1998, respectively, based on quoted market prices at those dates.
Summarized financial information of the affiliated companies accounted for by the equity method is shown below:
Thousands of
Millions of yen U.S. dollars
March 31 1999 1998 1999
Current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥482,736 ¥ 680,088 $3,989,554
Other assets including property, plant and equipment . . . . . . . . . . . . . . . . 449,816 570,330 3,717,487
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥932,552 ¥1,250,418 $7,707,041
Current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥320,119 ¥ 492,169 $2,645,611
Long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247,384 273,881 2,044,496
Shareholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 365,049 484,368 3,016,934
Total liabilities and shareholders’ equity . . . . . . . . . . . . . . . . . . . . . ¥932,552 ¥1,250,418 $7,707,041
Thousands of
Millions of yen U.S. dollars
Years ended March 31 1999 1998 1999
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥866,233 ¥1,059,466 $7,158,950
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 2,957 ¥ 23,831 $ 24,438
A summary of transactions and balances with the affiliated companies accounted for by the equity method is presented below:
Thousands of
Millions of yen U.S. dollars
Years ended March 31 1999 1998 1999
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 10,456 ¥ 19,287 $ 86,413
Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥172,694 ¥205,428 $1,427,223
Thousands of
Millions of yen U.S. dollars
March 31 1999 1998 1999
Notes and accounts receivable, trade . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 1,765 ¥ 4,455 $ 14,587
Other receivables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 672 ¥ 1,809 $ 5,554
Notes and accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥26,922 ¥58,606 $222,496
8. SHORT-TERM BORROWINGS AND LONG-TERM DEBT:
Short-term borrowings at March 31, 1999 and 1998 comprise the following:
Thousands of
Millions of yen U.S. dollars
March 31 1999 1998 1999
Loans, principally from banks, including bank overdrafts,
with weighted-average interest rate of 1.37 percent
at March 31, 1999 and 1.72 percent at March 31, 1998:
Secured . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥ 9,770 ¥ 5,125 $ 80,744
Unsecured. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 637,541 656,215 5,268,934
Commercial paper with weighted-average interest rate of 1.99 percent
at March 31, 1999 and 4.65 percent at March 31, 1998 . . . . . . . . . . . . . . 120,106 219,515 992,611
¥767,417 ¥880,855 $6,342,289