Consolidated Statements of Cash Flows
(Million yen)
| FY2017 | FY2018 | FY2019 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Income before income taxes and minority interests | 6,644 | 5,243 | 2,500 |
| Depreciation | 730 | 1,014 | 978 |
| Increase (decrease) in allowance for doubtful accounts | 4 | 6 | 2 |
| Increase (decrease) in provision for bonuses | 27 | (25) | (12) |
| Increase (decrease) in construction warranty reserve | 2 | (9) | (7) |
| Increase (decrease) in net defined benefit liability | 11 | 7 | 0 |
| Interest and dividend income | (1) | (1) | (1) |
| Interest expenses | 619 | 703 | 635 |
| Share-based compensation expenses | 18 | 24 | 5 |
| Refund of real estate acquisition tax | 0 | 12 | 3 |
| Amortization of bond issuance cost | 6 | 13 | 18 |
| Loss (gain) on sales of non-current assets | (29) | (0) | (0) |
| Loss on retirement of non-current assets | — | 0 | — |
| Reversal of consumption taxes for prior period | (136) | — | — |
| Gain on reversal of share acquisition rights | — | (6) | (6) |
| Decrease (increase) in notes and accounts receivable - trade | 4 | (10) | (1) |
| Decrease (increase) in inventories | 3,174 | (11,001) | 798 |
| Increase (decrease) in notes and accounts payable - trade | (98) | (122) | 67 |
| Increase (decrease) in accrued consumption taxes | 75 | (410) | 290 |
| Decrease (increase) in consumption taxes refund receivable | 17 | (626) | 624 |
| Increase (decrease) in lease and guarantee deposits received | (69) | 140 | (97) |
| Decrease (increase) in other current assets | (514) | 624 | (172) |
| Increase (decrease) in other current liabilities | (506) | (70) | (1) |
| Other | (5) | 9 | 18 |
| Subtotal | 9,976 | (4,488) | 5,642 |
| Interest and dividend income received | 1 | 1 | 1 |
| Interest expenses paid | (606) | (688) | (632) |
| Income taxes paid | (2,104) | (2,045) | (1,735) |
| Net cash provided by (used in) operating activities | 7,266 | (7,220) | 3,276 |
| Cash flows from investing activities | |||
| Payments into time deposits | (1,932) | (1,936) | (1,966) |
| Proceeds from withdrawal of time deposits | 1,768 | 1,897 | 1,892 |
| Purchase of property, plant and equipment | (107) | (64) | (780) |
| Proceeds from sales of property, plant and equipment | 187 | 2 | 0 |
| Purchase of intangible assets | (3) | (3) | (9) |
| Payments for investments in capital | (36) | — | (8) |
| Net cash provided by (used in) investing activities | (124) | (104) | (872) |
| Cash flows from financing activities | |||
| Net increase (decrease) in short-term loans payable | 957 | (1,779) | (971) |
| Proceeds from long-term loans payable | 26,004 | 32,996 | 21,330 |
| Repayments of long-term loans payable | (30,674) | (26,215) | (20,590) |
| Proceeds from issuance of bonds | 1,574 | 736 | 2,720 |
| Proceeds from exercise of share options | (210) | (592) | (819) |
| Purchase of treasury shares | — | (0) | (223) |
| Proceeds from exercise of share options | — | 0 | — |
| Repayments of lease obligations | (2) | (2) | (2) |
| Cash dividends paid | (511) | (608) | (730) |
| Net cash provided by (used in) financing activities | (2,862) | 4,534 | 712 |
| Net increase (decrease) in cash and cash equivalents | 4,279 | (2,790) | 3,116 |
| Cash and cash equivalents at the beginning of the period | 7,663 | 11,942 | 9,151 |
| Cash and cash equivalents at the end of the period | 11,942 | 9,151 | 12,268 |
