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Statements of Cash Flows

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Millions of yen

FY2021 FY2022 FY2023 FY2024 FY2025
Cash flows from operating activities
Net income before income taxes 43,094 51,523 53,057 57,148 60,630
Depreciation and amortization 10,246 9,592 9,738 10,454 12,143
Impairment loss - - - - 494
Amortization of goodwill - 29 198 1,518 1,862
Amortization of customer-related intangible assets - - 303 1,243 1,585
Increase (decrease) in allowance for doubtful receivables (242) 111 (7) (16) 104
Increase (decrease) in accrued pension and severance costs (544) (3,480) (13,347) (2,352) 171
Decrease (increase) in prepaid pension and severance costs (45) (46) 10,386 (1,029) (5,961)
Contribution of cash to retirement benefit trust - - (18,000) - -
Increase (decrease) in accrued bonuses (1,486) (716) (298) 627 (229)
Interest and dividend income (558) (509) (621) (776) (786)
Interest expense 12 12 11 75 71
Loss (gain) on sales and disposal of property, plant and equipment, net 111 107 151 139 131
Loss (gain) on sales of investments in securities (1,255) (711) (111) (22) (1,478)
Loss (gain) on impairment of investments in securities 18 57 - - 40
Loss (gain) on sales of shares of subsidiaries and associates (855) - 159 (2,876) -
Loss (gain) on investments in partnership (278) 29 31 (105) (475)
Investment partnership management expenses - - - 188 203
Decrease (increase) in notes and accounts receivable (1,987) (2,894) (61) (5,696) (7,706)
Decrease (increase) in inventories (7,467) (3,280) (691) (1,735) 1,969
Increase (decrease) in notes and accounts payable-trade 2,222 985 (2,503) 4,075 1,891
Other, net 4,332 241 3,992 (241) 474
Subtotal 45,317 51,051 42,389 60,618 65,136
Interest and dividends received 555 506 614 789 784
Interest paid (12) (12) (11) (75) (71)
Income taxes paid (13,103) (13,820) (14,809) (13,665) (19,937)
Net cash provided by operating activities 32,756 37,725 28,182 47,667 45,912
Cash flows from investing activities
Payments for purchases of property, plant and equipment (14,587) (8,889) (8,343) (9,403) (9,566)
Proceeds from sales of property, plant and equipment 18 23 19 10 39
Payments for purchases of intangible assets (2,242) (894) (1,960) (2,845) (8,173)
Payments for purchases of investments in securities (1,089) (676) (743) (1,414) (2,270)
Proceeds from sales of investments in securities 1,893 1,330 244 88 2,591
Payments for purchases of shares of subsidiaries - (209) (7,618) (32,667) -
Proceeds from sales of shares of a subsidiary 847 - - 3,231 -
Decrease (increase) in short-term loans receivable, net 2 11 10,012 120,005 50,010
Payments for acquisition of businesses - - (750) - -
Other, net (737) (802) (872) (1,270) (1,574)
Net cash used in investing activities (15,894) (10,107) (10,011) 75,735 31,055
Cash flows from financing activities
Repayments of finance lease obligations (61) (56) (12) (1) (26)
Repayments of long-term loans - - - (157) (209)
Payments for purchases of additional shares of a subsidiary - - (260) - -
Payments for purchases of treasury stock (2) (4) (5) (85,648) (11,073)
Dividends paid (9,073) (11,020) (12,961) (16,851) (16,330)
Dividends paid to non-controlling interests (21) (23) (22) (25) (26)
Proceeds from share issuance to non-controlling shareholders - - - 10 10
Other, net - (155) - 0 (0)
Net cash used in financing activities (9,160) (11,259) (13,260) (102,675) (27,657)
Effect of exchange rate changes on cash and cash equivalents 195 245 147 307 37
Net increase (decrease) in cash and cash equivalents 7,897 16,603 5,058 21,035 49,347
Cash and cash equivalents as of beginning of year 60,131 68,028 84,632 89,690 110,726
Cash and cash equivalents as of end of year 68,028 84,632 89,690 110,726 160,073
  • *
    Information in the above tables is based on data from summary reports of consolidated financial results.
  • *
    Free cash flow equal net cash provided by (used in) operating activities + net cash provided by (used in) investing activities.