Consolidated Statements of Cash Flows

Millions of yen
  FY2015/3 FY2016/3 FY2017/3 FY2018/3 FY2019/3
Operating activities:          
Net income (loss) 126,624 133,495 147,190 144,244 157,124
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 126,409 124,960 117,635 127,642 129,932
Gain on remeasurement of step acquisitions (21,224) No data No data (20,838) No data
(Gains) losses on equity securities 938 (10,503) (22,510) (50,999) 244
Deffered income taxes 20,458 8,219 (2,934) (11,130) 12,359
Equity in net earnings (losses) of affiliated companies, less dividends received 16,102 2,302 4,546 1,142 4,719
Changes in operating assets and liabilities:          
Notes and accounts receivable (4,377) (20,061) 3,444 41,342 4,885
Inventories 10,931 5,784 4,891 (7,518) (12,287)
Notes and accounts payable - trade (20,474) 1,680 5,692 (19,999) (12,469)
Accrued income taxes and other liabilities 6,679 (12,057) (5,997) 68,551 (80,408)
Other 5,712 (10,340) 36,662 (11,285) 45,244
Subtotal 141,154 89,984 141,429 116,908 92,219
Net cash provided by operating activities 267,778 223,479 288,619 261,152 249,343
Investing activities:          
Purchases of property, plant and equipment (56,943) (63,810) (74,647) (63,043) (68,549)
Purchases of software (26,554) (22,278) (22,318) (18,541) (20,471)
Proceeds from sales and maturities of marketable and investment securities 37,164 45,254 63,801 73,270 2,545
Purchases of marketable and investment securities (37,244) (30,798) (20,055) (5,063) (23,349)
(Increase) decrease in time deposits, net 1,273 (271) (38,589) 40,691 (3,630)
(Increase) decrease in investments in and advances to affiliated companies (6,309) (3,950) (5,527) (3,052) (10,456)
Acquisitions of businesses, net of cash acquired No data (36,697) (1,334) (127,269) (84,310)
Other (35,942) (44,770) (17,770) (8,779) (365)
Net cash used in investing activities (124,555) (157,320) (116,439) (111,786) (208,585)
Financing activities:          
Proceeds from long-term debt 4,530 2,955 226,495 2,100 100,035
Repayments of long-term debt (8,619) (6,110) (6,777) (165,416) (25,947)
Increase (decrease) in short-term debt, net (8,332) 20,808 (26,233) (7,171) (8,123)
Cash dividends paid to shareholders (26,510) (31,974) (30,165) (31,714) (33,166)
Subsidiaries' cash dividends paid to noncontrolling interests (6,600) (7,295) (6,371) (6,521) (7,752)
Net purchases of stock for treasury (62) (150,049) (50,021) (50,023) (100,018)
Capital transactions with noncontrolling interests and other No data No data 4,362 (216) (78,551)
Net cash used in financing activities (45,593) (171,665) 111,290 (258,961) (153,522)
Effect of exchange rate changes on cash and cash equivalents 24,687 (20,485) (8,409) 1,883 (735)
Net increase (decrease) in cash and cash equivalents 122,317 (125,991) 275,061 (107,712) (113,499)
Cash and cash equivalents at beginning of year 604,571 726,888 600,897 875,958 768,246
Cash and cash equivalents at end of year 726,888 600,897 875,958 768,246 654,747

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