Statement of Cash Flows

(Millions of yen)

  Previous fiscal year
(From April 1, 2017
to March 31, 2018)
Current fiscal year
(From April 1, 2018
to March 31, 2019)
Cash flows from operating activities    
Income before income taxes 7,802 9,700
Depreciation 4,661 4,766
Loss on disposal of fixed assets 12 36
Impairment loss 249 9
Increase (decrease) in allowance for doubtful accounts (5) (1)
Increase (decrease) in accrued bonuses 6 15
Increase (decrease) in accrued severance indemnities for employees (84) (10)
Interest income and dividends earned (382) (494)
Interest expense 1,291 1,253
Amortization of bond-issuing expenses 67 71
Loss (gain) on sale of investment securities (94) -
Loss (gain) on sale of fixed assets - (1,315)
Decrease (increase) in notes and accounts receivable – trade 274 (108)
Decrease (increase) in inventories 2,172 (23,880)
Decrease (increase) in operating investments 335 (73)
Decrease (increase) in prepaid expenses 5 (17)
Decrease (increase) in accounts receivable – other 565 (347)
Increase (decrease) in notes and accounts payable – trade (123) 42
Increase (decrease) in advances received 23 15
Increase (decrease) in accrued consumption taxes 410 (379)
Increase (decrease) in deposits received (77) 73
Increase (decrease) in deposits received and landlord deposits 613 453
Other (6) 143
Subtotal 17,719 (10,049)
Interest and dividend income received 380 490
Interest expenses paid (1,276) (1,244)
Income taxes paid (3,340) (1,976)
Net cash provided by (used in) operating activities 13,482 (12,780)
Cash flows from investing activities    
Purchase of securities (400) (600)
Proceeds from sales and redemption of securities 20 10
Purchase of investment securities (207) (15)
Proceeds from sales and redemption of investment securities 266 25
Loan advances to subsidiaries and associates - (2,800)
Purchase of tangible fixed assets (3,345) (17,836)
Proceeds from sales of tangible fixed assets - 13,405
Purchase of intangible fixed assets (13,569) (4,295)
Purchase of long-term prepaid expenses (21) (188)
Payments for guarantee deposits (115) (608)
Proceeds from collection of guarantee deposits 109 52
Payments for asset retirement obligations - (98)
Other (0) 3
Net cash provided by (used in) investing activities (17,265) (12,946)
Cash flows from financing activities    
Increase (decrease) in short-term loans payable (2,250) 9,000
Proceeds from long-term loans payable 27,360 32,950
Repayment of long-term loans payable (26,534) (18,148)
Proceeds from issuance of bonds 1,500 6,500
Redemption of bonds (1,340) (1,415)
Purchase of treasury stock (9) (2,614)
Payment of dividends (1,192) (1,566)
Other (32) (52)
Net cash provided by (used) in financing activities (2,499) 24,652
Effect of exchange rate changes on cash and cash equivalents - -
Increase (decrease) in cash and cash equivalents (6,282) (1,074)
Balance of cash and cash equivalents at beginning of period 19,117 12,784
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation (50) -
Balance of cash and cash equivalents at end of period 12,784 11,710
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