Consolidated Statements of Cash Flows

(Millions of yen)

  Year ended
March 31, 2018
Year ended
March 31, 2019
Year ended
March 31, 2020
Year ended
March 31, 2021
Year ended
March 31, 2022
Year ended
March 31, 2023
Cash flows from operating activities
Profit for the period 41,764 54,044 7,823 30,995 92,302 75,051
Depreciation and amortization 49,993 56,137 68,416 69,852 64,595 68,696
Impairment loss and reversal of impairment loss 2,091 743 581 7,823 1,460 1,966
Finace (income) costs 2,414 (585) (156) 2,820 (2,569) (6,604)
Share of (profit) loss of investments accounted for using the equity method (74) (99) (77) (99) (113) (105)
Loss (gain) on sales and disposal of property, plant and equipment, intangible assets and investment property 797 (3,221) 672 316 232 (716)
Income taxes 20,899 17,995 31,889 13,937 4,859 28,703
Decrease (increase) in trade receivables (9,528) (4,750) 12,407 (1,004) 3,006 (22,131)
Decrease (increase) in inventories (17,199) (24,915) 9,224 (12,865) (28,230) (60,253)
Increase (decrease) in trade payables 3,087 (6,826) (11,420) 13,151 2,175 (1,645)
Increase (decrease) in net defined benef liabilities 1,612 1,663 1,863 2,888 1,532 (799)
Other 9,887 3,473 (10,136) 14,779 (6,428) 11,100
Subtotal 105,745 93,659 111,088 142,595 132,823 93,260
Interest and dividend income received 1,279 2,055 2,084 1,365 1,470 3,339
Interest expenses paid (1,038) (1,164) (1,181) (1,111) (1,071) (1,208)
Payments for loss on litigation (564) - - - - -
Proceeds from insurance income - - 2,614 339 - -
Income taxes paid (21,142) (17,588) (12,281) (9,966) (22,420) (34,080)
Net cash provided by (used in) operating activities 84,279 76,961 102,324 133,222 110,801 61,311
Cash flows from investing activities
Purchase of investment securities - (900) (1,041) (297) (747) (827)
Proceeds from sales of investment securities 16 2,144 25 26 622 154
Purchase of property, plant and equipment (69,237) (79,858) (65,250) (47,504) (38,602) (50,551)
Proceeds from sales of property, plant and equipment 858 9,313 840 467 245 1,058
Purchase of intangible assets (4,368) (10,445) (10,457) (8,371) (5,242) (8,545)
Proceeds from sales of intangible assets 1 13 14 21 33 21
Proceeds from sales of investment property 9 22 16 - 352 1,985
Purchase of investments in subsidiaries - (887) - - - -
Other (1,942) (2,142) (280) (1,790) (746) (4,897)
Net cash provided by (used in) investing activities (74,661) (82,738) (76,131) (57,448) (44,083) (61,602)
Cash flows from financing activities
Net increase (decrease) in current borrowings 11,590 (16,832) (9,816) (889) - 9
Proceeds from non-current borrowings 49,908 - 29,948 - 500 -
Repayments of non-current borrowings (50,000) (135) - (14,000) (500) (18,000)
Proceeds from issuance of bonds issued 19,896 - 29,846 69,676 - -
Redemption of bonds issued (10,000) (10,000) (10,000) - (20,000) -
Payments of lease obligations (106) (150) (8,203) (9,667) (8,275) (10,003)
Dividends paid (21,133) (22,190) (21,646) (21,449) (21,451) (21,313)
Dividends paid to non-controlling interests (116) (120) (188) (519) (394) (0)
Payments for purchase of subsidiaries' equity from non-controlling interests - - - - (1,648) -
Purchase of treasury shares (2) (0) (10,224) (1) (1) (30,042)
Net cash provided by (used in) financing activities 37 (49,430) (283) 23,150 (51,771) (79,349)
Effect of exchange rate changes on cash and cash equivalents (1,759) 767 (4,901) 8,837 16,285 11,781
Net increase (decrease) in cash and cash equivalents 7,895 (54,439) 21,007 107,761 31,232 (67,859)
Cash and cash equivalents at beginning of period 221,782 229,678 175,238 196,245 304,007 335,239
Cash and cash equivalents at end of period 229,678 175,238 196,245 304,007 335,239 267,380

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