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Statements of Cash Flows

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Millions of yen

FY2020 FY2021 FY2022 FY2023 FY2024
Cash flows from operating activities
Net income before income taxes 33,463 43,094 51,523 53,057 57,148
Depreciation and amortization 11,253 10,246 9,592 9,738 10,454
Amortization of goodwill - - 29 198 1,518
Amortization of customer-related intangible assets - - - 303 1,243
Increase (decrease) in allowance for doubtful receivables (179) (242) 111 (7) (16)
Increase (decrease) in accrued pension and severance costs 2,028 (544) (3,480) (13,347) (2,352)
Decrease (increase) in prepaid pension and severance costs (19) (45) (46) 10,386 (1,029)
Contribution of cash to retirement benefit trust - - - (18,000) -
Increase (decrease) in accrued bonuses 2,323 (1,486) (716) (298) 627
Interest and dividend income (398) (558) (509) (621) (776)
Interest expense 12 12 12 11 75
Loss (gain) on sales and disposal of property, plant and equipment, net (150) 111 107 151 139
Loss (gain) on sales of investments in securities (278) (1,255) (711) (111) (22)
Loss (gain) on impairment of investments in securities 316 18 57 - -
Loss (gain) on sales of shares of subsidiaries and associates 737 (855) - 159 (2,876)
Loss (gain) on investments in partnership (231) (278) 29 31 (105)
Investment partnership management expenses - - - - 188
Decrease (increase) in notes and accounts receivable 5,276 (1,987) (2,894) (61) (5,696)
Decrease (increase) in inventories 5,357 (7,467) (3,280) (691) (1,735)
Increase (decrease) in notes and accounts payable-trade (6,262) 2,222 985 (2,503) 4,075
Other, net (1,567) 4,332 241 3,992 (241)
Subtotal 51,682 45,317 51,051 42,389 60,618
Interest and dividends received 394 555 506 614 789
Interest paid (12) (12) (12) (11) (75)
Income taxes paid (13,574) (13,103) (13,820) (14,809) (13,665)
Net cash provided by operating activities 38,490 32,756 37,725 28,182 47,667
Cash flows from investing activities
Payments for purchases of property, plant and equipment (14,695) (14,587) (8,889) (8,343) (9,403)
Proceeds from sales of property, plant and equipment 1,010 18 23 19 10
Payments for purchases of intangible assets (3,729) (2,242) (894) (1,960) (2,845)
Payments for purchases of investments in securities (310) (1,089) (676) (743) (1,414)
Proceeds from sales of investments in securities 697 1,893 1,330 244 88
Payments for purchases of shares of subsidiaries - - (209) (7,618) (32,667)
Proceeds from sales of shares of a subsidiary 828 847 - - 3,231
Decrease (increase) in short-term loans receivable, net (9,994) 2 11 10,012 120,005
Payments for acquisition of businesses - - - (750) -
Other, net 19 (737) (802) (872) (1,270)
Net cash used in investing activities (26,174) (15,894) (10,107) (10,011) 75,735
Cash flows from financing activities
Repayments of finance lease obligations (72) (61) (56) (12) (1)
Repayments of long-term loans - - - - (157)
Payments for purchases of additional shares of a subsidiary - - - (260) -
Payments for purchases of treasury stock (2) (2) (4) (5) (85,648)
Dividends paid (6,485) (9,073) (11,020) (12,961) (16,851)
Dividends paid to non-controlling interests (26) (21) (23) (22) (25)
Proceeds from share issuance to non-controlling shareholders - - - - 10
Other, net 0 - (155) - 0
Net cash used in financing activities (6,587) (9,160) (11,259) (13,260) (102,675)
Effect of exchange rate changes on cash and cash equivalents (91) 195 245 147 307
Net increase (decrease) in cash and cash equivalents 5,637 7,897 16,603 5,058 21,035
Cash and cash equivalents as of beginning of year 54,493 60,131 68,028 84,632 89,690
Cash and cash equivalents as of end of year 60,131 68,028 84,632 89,690 110,726
  • *
    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.