Consolidated Statements of Cash Flows

(Millions of yen)

  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
Year ended
March 31, 2024
Cash flows from operating activities
Profit for the period 54,044 7,823 30,995 92,302 75,051 52,620
Depreciation and amortization 56,137 68,416 69,852 64,595 68,696 68,682
Impairment loss and reversal of impairment loss 743 581 7,823 1,460 1,966 1,339
Finace (income) costs (585) (156) 2,820 (2,569) (6,604) (12,537)
Share of (profit) loss of investments accounted for using the equity method (99) (77) (99) (113) (105) (23)
Loss (gain) on sales and disposal of property, plant and equipment, intangible assets and investment property (3,221) 672 316 232 (716) 532
Income taxes 17,995 31,889 13,937 4,859 28,703 17,473
Decrease (increase) in trade receivables (4,750) 12,407 (1,004) 3,006 (22,131) 4,370
Decrease (increase) in inventories (24,915) 9,224 (12,865) (28,230) (60,253) 71,097
Increase (decrease) in trade payables (6,826) (11,420) 13,151 2,175 (1,645) (7,921)
Increase (decrease) in net defined benef liabilities 1,663 1,863 2,888 1,532 (799) 663
Other 3,473 (10,136) 14,779 (6,428) 11,100 (10,957)
Subtotal 93,659 111,088 142,595 132,823 93,260 185,340
Interest and dividend income received 2,055 2,084 1,365 1,470 3,339 4,931
Interest expenses paid (1,164) (1,181) (1,111) (1,071) (1,208) (1,821)
Payments for loss on litigation - - - - - -
Proceeds from insurance income - 2,614 339 - - -
Income taxes paid (17,588) (12,281) (9,966) (22,420) (34,080) (22,879)
Net cash provided by (used in) operating activities 76,961 102,324 133,222 110,801 61,311 165,570
Cash flows from investing activities
Purchase of investment securities (900) (1,041) (297) (747) (827) (1,371)
Proceeds from sales of investment securities 2,144 25 26 622 154 1,004
Purchase of property, plant and equipment (79,858) (65,250) (47,504) (38,602) (50,551) (49,570)
Proceeds from sales of property, plant and equipment 9,313 840 467 245 1,058 404
Purchase of intangible assets (10,445) (10,457) (8,371) (5,242) (8,545) (7,023)
Proceeds from sales of intangible assets 13 14 21 33 21 15
Proceeds from sales of investment property 22 16 - 352 1,985 -
Purchase of investments in subsidiaries (887) - - - - -
Other (2,142) (280) (1,790) (746) (4,897) (2,440)
Net cash provided by (used in) investing activities (82,738) (76,131) (57,448) (44,083) (61,602) (58,981)
Cash flows from financing activities
Net increase (decrease) in current borrowings (16,832) (9,816) (889) - 9 502
Proceeds from non-current borrowings - 29,948 - 500 - -
Repayments of non-current borrowings (135) - (14,000) (500) (18,000) -
Proceeds from issuance of bonds issued - 29,846 69,676 - - -
Redemption of bonds issued (10,000) (10,000) - (20,000) - (30,000)
Payments of lease obligations (150) (8,203) (9,667) (8,275) (10,003) (10,033)
Dividends paid (22,190) (21,646) (21,449) (21,451) (21,313) (25,862)
Dividends paid to non-controlling interests (120) (188) (519) (394) (0) (0)
Payments for purchase of subsidiaries' equity from non-controlling interests - - - (1,648) - -
Purchase of treasury shares (0) (10,224) (1) (1) (30,042) (1)
Net cash provided by (used in) financing activities (49,430) (283) 23,150 (51,771) (79,349) (65,395)
Effect of exchange rate changes on cash and cash equivalents 767 (4,901) 8,837 16,285 11,781 19,907
Net increase (decrease) in cash and cash equivalents (54,439) 21,007 107,761 31,232 (67,859) 61,100
Cash and cash equivalents at beginning of period 229,678 175,238 196,245 304,007 335,239 267,380
Cash and cash equivalents at end of period 175,238 196,245 304,007 335,239 267,380 328,481

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