Consolidated Statements of Cash Flows

(Millions of yen)

  Year ended
March 31, 2017
Year ended
March 31, 2018
Year ended
March 31, 2019
Year ended
March 31, 2020
Year ended
March 31, 2021
Cash flows from operating activities
Profit for the period 48,426 41,764 54,044 7,823 30,995
Depreciation and amortization 43,679 49,993 56,137 68,416 69,852
Impairment loss and reversal of impairment loss 239 2,091 743 581 7,823
Finace (income) costs 475 2,414 (585) (156) 2,820
Share of (profit) loss of investments accounted for using the equity method (53) (74) (99) (77) (99)
Loss (gain) on sales and disposal of property, plant and equipment, intangible assets and investment property 96 797 (3,221) 672 316
Income taxes 18,461 20,899 17,995 31,889 13,937
Decrease (increase) in trade receivables (3,691) (9,528) (4,750) 12,407 (1,004)
Decrease (increase) in inventories (10,729) (17,199) (24,915) 9,224 (12,865)
Increase (decrease) in trade payables 10,892 3,087 (6,826) (11,420) 13,151
Increase (decrease) in net defined benef liabilities 156 1,612 1,663 1,863 2,888
Other 8,399 9,887 3,473 (10,136) 14,779
Subtotal 116,352 105,745 93,659 111,088 142,595
Interest and dividend income received 1,414 1,279 2,055 2,084 1,365
Interest expenses paid (981) (1,038) (1,164) (1,181) (1,111)
Payments for loss on litigation - (564) - - -
Proceeds from insurance income - - - 2,614 339
Income taxes paid (19,910) (21,142) (17,588) (12,281) (9,966)
Net cash provided by (used in) operating activities 96,873 84,279 76,961 102,324 133,222
Cash flows from investing activities
Purchase of investment securities - - (900) (1,041) (297)
Proceeds from sales of investment securities 3,103 16 2,144 25 26
Purchase of property, plant and equipment (70,637) (69,237) (79,858) (65,250) (47,504)
Proceeds from sales of property, plant and equipment 746 858 9,313 840 467
Purchase of intangible assets (6,899) (4,368) (10,445) (10,457) (8,371)
Proceeds from sales of intangible assets 24 1 13 14 21
Proceeds from sales of investment property 1,088 9 22 16 -
Purchase of investments in subsidiaries (2,743) - (887) - -
Other (441) (1,942) (2,142) (280) (1,790)
Net cash provided by (used in) investing activities (75,759) (74,661) (82,738) (76,131) (57,448)
Cash flows from financing activities
Net increase (decrease) in current borrowings (14,374) 11,590 (16,832) (9,816) (889)
Proceeds from non-current borrowings 500 49,908 - 29,948 -
Repayments of non-current borrowings (500) (50,000) (135) - (14,000)
Proceeds from issuance of bonds issued 49,759 19,896 - 29,846 69,676
Redemption of bonds issued (30,000) (10,000) (10,000) (10,000) -
Payments of lease obligations (101) (106) (150) (8,203) (9,667)
Dividends paid (21,299) (21,133) (22,190) (21,646) (21,449)
Dividends paid to non-controlling interests (236) (116) (120) (188) (519)
Payments for purchase of subsidiaries' equity from non-controlling interests (97) - - - -
Purchase of treasury shares (10,340) (2) (0) (10,224) (1)
Net cash provided by (used in) financing activities (26,691) 37 (49,430) (283) 23,150
Effect of exchange rate changes on cash and cash equivalents (3,139) (1,759) 767 (4,901) 8,837
Net increase (decrease) in cash and cash equivalents (8,716) 7,895 (54,439) 21,007 107,761
Cash and cash equivalents at beginning of period 230,498 221,782 229,678 175,238 196,245
Cash and cash equivalents at end of period 221,782 229,678 175,238 196,245 304,007

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