Consolidated Statements of Cash Flows

(Millions of yen)

  Year ended
March 31, 2015
Year ended
March 31, 2016
Year ended
March 31, 2017
Year ended
March 31, 2018
Year ended
March 31, 2019
Cash flows from operating activities
Profit for the period 112,785 46,067 48,426 41,764 54,044
Depreciation and amortization 44,907 45,923 43,679 49,993 56,137
Impairment loss and reversal of impairment loss 3,563 (2,210) 239 2,091 743
Finace (income) costs (948) 2,600 475 2,414 (585)
Share of (profit) loss of investments accounted for using the equity method (207) (104) (53) (74) (99)
Loss (gain) on sales and disposal of property, plant and equipment, intangible assets and investment property (4,288) (6,886) 96 797 (3,221)
Income taxes 18,631 45,421 18,461 20,899 17,995
Decrease (increase) in trade receivables (2,279) 10,661 (3,691) (9,528) (4,750)
Decrease (increase) in inventories (19,252) 6,610 (10,729) (17,199) (24,915)
Increase (decrease) in trade payables 21 (8,915) 10,892 3,087 (6,826)
Increase (decrease) in net defined benef liabilities (25,355) 1,514 156 1,612 1,663
Other 8,842 (3,215) 8,399 9,887 3,473
Subtotal 136,419 137,468 116,352 105,745 93,659
Interest and dividend income received 2,481 1,664 1,414 1,279 2,055
Interest expenses paid (1,552) (1,218) (981) (1,038) (1,164)
Payments for loss on litigation (859) (4,144) (564)
Income taxes paid (27,660) (20,715) (19,910) (21,142) (17,588)
Net cash provided by (used in) operating activities 108,828 113,054 96,873 84,279 76,961
Cash flows from investing activities
Purchase of investment securities (900)
Proceeds from sales of investment securities 249 51 3,103 16 2,144
Purchase of property, plant and equipment (37,045) (59,614) (70,637) (69,237) (79,858)
Proceeds from sales of property, plant and equipment 272 582 746 858 9,313
Purchase of intangible assets (5,738) (6,538) (6,899) (4,368) (10,445)
Proceeds from sales of intangible assets 29 31 24 1 13
Proceeds from sales of investment property 14,012 13,969 1,088 9 22
Purchase of investments in subsidiaries (1,097) (500) (2,743) (887)
Other (3,417) 460 (441) (1,942) (2,142)
Net cash provided by (used in) investing activities (32,735) (51,558) (75,759) (74,661) (82,738)
Cash flows from financing activities
Net increase (decrease) in current borrowings (30,167) (1,819) (14,374) 11,590 (16,832)
Proceeds from non-current borrowings 500 49,908
Repayments of non-current borrowings (2,000) (86) (500) (50,000) (135)
Proceeds from issuance of bonds issued 10,000 49,759 19,896
Redemption of bonds issued (20,000) (40,000) (30,000) (10,000) (10,000)
Payments of lease obligations (241) (103) (101) (106) (150)
Dividends paid (12,880) (25,044) (21,299) (21,133) (22,190)
Dividends paid to non-controlling interests (95) (111) (236) (116) (120)
Payments for purchase of subsidiaries' equity from non-controlling interests (97)
Purchase of treasury shares (6) (6) (10,340) (2) (0)
Net cash provided by (used in) financing activities (55,392) (67,171) (26,691) 37 (49,430)
Effect of exchange rate changes on cash and cash equivalents 13,118 (9,155) (3,139) (1,759) 767
Net increase (decrease) in cash and cash equivalents 33,819 (14,832) (8,716) 7,895 (54,439)
Cash and cash equivalents at beginning of period 211,510 245,330 230,498 221,782 229,678
Cash and cash equivalents at end of period 245,330 230,498 221,782 229,678 175,238

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