Consolidated Statements of Cash Flows
(Million yen)
| FY2016 | FY2017 | FY2018 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Income before income taxes and minority interests | 4,905 | 6,644 | 5,243 |
| Depreciation | 683 | 730 | 1,014 |
| Increase (decrease) in allowance for doubtful accounts | (1) | 4 | 6 |
| Increase (decrease) in provision for bonuses | (18) | 27 | (25) |
| Increase (decrease) in construction warranty reserve | 21 | 2 | (9) |
| Increase (decrease) in net defined benefit liability | 12 | 11 | 7 |
| Interest and dividend income | (1) | (1) | (1) |
| Interest expenses | 647 | 619 | 703 |
| Share issuance cost | 15 | — | — |
| Share-based compensation expenses | 47 | 18 | 24 |
| Reversal of deposits received | (60) | — | — |
| Refund of real estate acquisition tax | — | 0 | 12 |
| Amortization of bond issuance cost | 1 | 6 | 13 |
| Loss (gain) on sales of non-current assets | (0) | (29) | (0) |
| Loss on retirement of non-current assets | 0 | — | 0 |
| Reversal of consumption taxes for prior period | — | (136) | — |
| Loss from prior period of consumption tax | 791 | — | — |
| Gain on reversal of share acquisition rights | — | — | (6) |
| Decrease (increase) in notes and accounts receivable - trade | 1 | 4 | (10) |
| Decrease (increase) in inventories | (12,939) | 3,174 | (11,001) |
| Increase (decrease) in notes and accounts payable - trade | (99) | (98) | (122) |
| Increase (decrease) in accrued consumption taxes | 352 | 75 | (410) |
| Decrease (increase) in consumption taxes refund receivable | 82 | 17 | (626) |
| Increase (decrease) in lease and guarantee deposits received | 268 | (69) | 140 |
| Decrease (increase) in other current assets | 145 | (514) | 624 |
| Increase (decrease) in other current liabilities | 111 | (506) | (70) |
| Other | 26 | (5) | 9 |
| Subtotal | (5,005) | 9,976 | (4,488) |
| Interest and dividend income received | 1 | 1 | 1 |
| Interest expenses paid | (658) | (606) | (688) |
| Income taxes paid | (3,061) | (2,104) | (2,045) |
| Net cash provided by (used in) operating activities | (8,723) | 7,266 | (7,220) |
| Cash flows from investing activities | |||
| Payments into time deposits | (1,574) | (1,932) | (1,936) |
| Proceeds from withdrawal of time deposits | 1,249 | 1,768 | 1,897 |
| Purchase of property, plant and equipment | (874) | (107) | (64) |
| Proceeds from sales of property, plant and equipment | 0 | 187 | 2 |
| Purchase of intangible assets | (37) | (3) | (3) |
| Payments for investments in capital | (7) | (36) | — |
| Net cash provided by (used in) investing activities | (1,242) | (124) | (104) |
| Cash flows from financing activities | |||
| Net increase (decrease) in short-term loans payable | (114) | 957 | (1,779) |
| Proceeds from long-term loans payable | 34,061 | 26,004 | 32,996 |
| Repayments of long-term loans payable | (25,042) | (30,674) | (26,215) |
| Proceeds from issuance of bonds | 882 | 1,574 | 736 |
| Proceeds from issuance of common stock | 1,904 | — | — |
| Proceeds from exercise of share options | — | (210) | (592) |
| Purchase of treasury shares | — | — | (0) |
| Proceeds from exercise of share options | 2 | — | 0 |
| Repayments of lease obligations | (2) | (2) | (2) |
| Cash dividends paid | (352) | (511) | (608) |
| Net cash provided by (used in) financing activities | 11,338 | (2,862) | 4,534 |
| Net increase (decrease) in cash and cash equivalents | 1,372 | 4,279 | (2,790) |
| Cash and cash equivalents at the beginning of the period | 6,291 | 7,663 | 11,942 |
| Cash and cash equivalents at the end of the period | 7,663 | 11,942 | 9,151 |
