Consolidated Statements of Cash Flows

(Thousand yen)
  FY2014 FY2015 FY2016
Cash flows from operating activities
Income before income taxes and minority interests 3,097,082 5,602,063 4,905,109
Depreciation 245,824 493,761 683,329
Increase (decrease) in allowance for doubtful accounts 1,055 6,273 (1,297)
Increase (decrease) in provision for bonuses 17,586 16,179 (18,237)
Increase (decrease) in provision for directors' retirement benefits 24,427 6,262
Increase (decrease) in construction warranty reserve 15,748 10,656 21,990
Increase (decrease) in net defined benefit liability 10,386 10,842 12,420
Interest and dividend income (1,336) (1,471) (1,501)
Interest expenses 346,840 508,808 647,148
Share issuance cost 20,975 15,457
Share-based compensation expenses 47,952 47,745
Reversal of deposits received (60,155)
Amortization of bond issuance cost 1,062
Loss (gain) on sales of non-current assets (20,936) (28,477) (34)
Loss on retirement of non-current assets 0 20
Loss from prior period of consumption tax 791,877
Decrease (increase) in notes and accounts receivable - trade (2,103) (15,596) 1,394
Decrease (increase) in inventories (8,663,400) (12,322,198) (12,939,477)
Increase (decrease) in notes and accounts payable - trade 122,015 217,276 (99,283)
Increase (decrease) in accrued consumption taxes 823 (2,791) 352,451
Decrease (increase) in consumption taxes refund receivable (40,022) 16,025 82,403
Increase (decrease) in lease and guarantee deposits received 85,013 83,084 268,723
Decrease (increase) in other current assets (252,095) (3,867) 145,373
Increase (decrease) in other current liabilities 96,377 148,595 111,980
Other (17,823) 2,055 26,175
Subtotal (4,913,561) (5,204,564) (5,005,323)
Interest and dividend income received 1,336 1,471 1,501
Interest expenses paid (359,233) (498,720) (658,137)
Income taxes paid (1,172,857) (1,590,721) (3,061,832)
Net cash provided by (used in) operating activities (6,444,316) (7,292,535) (8,723,791)
Cash flows from investing activities  
Payments into time deposits (653,451) (1,106,459) (1,574,247)
Proceeds from withdrawal of time deposits 550,463 917,509 1,249,914
Purchase of property, plant and equipment (75,087) (897,700) (874,299)
Proceeds from sales of property, plant and equipment 124,596 151,109 34
Purchase of intangible assets (2,500) (57,819) (37,187)
Payments for investments in capital (2,740) (7,000)
Collection of investments in capital 510
Net cash provided by (used in) investing activities (55,469) (996,101) (1,242,785)
Cash flows from financing activities
Net increase (decrease) in short-term loans payable 202,687 (677,290) (114,942)
Proceeds from long-term loans payable 14,407,000 30,887,900 34,061,800
Repayments of long-term loans payable (8,867,804) (19,047,568) (25,042,086)
Proceeds from issuance of bonds 882,249
Proceeds from issuance of common stock 2,951,514 1,904,105
Proceeds from exercise of share options 5,180 2,171
Repayments of lease obligations (3,386) (3,429) (2,480)
Cash dividends paid (33,034) (186,456) (352,160)
Net cash provided by (used in) financing activities 8,656,977 10,978,335 11,338,657
Net increase (decrease) in cash and cash equivalents 2,157,190 2,689,698 1,372,080
Cash and cash equivalents at the beginning of the period 1,444,129 3,601,319 6,291,018
Cash and cash equivalents at the end of the period 3,601,319 6,291,018 7,663,098
Page Top