Consolidated Statements of Cash Flows
(Million yen)
| FY2015 | FY2016 | FY2017 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Income before income taxes and minority interests | 5,602 | 4,905 | 6,644 |
| Depreciation | 493 | 683 | 730 |
| Increase (decrease) in allowance for doubtful accounts | 6 | (1) | 4 |
| Increase (decrease) in provision for bonuses | 16 | (18) | 27 |
| Increase (decrease) in provision for directors' retirement benefits | 6 | — | — |
| Increase (decrease) in construction warranty reserve | 10 | 21 | 2 |
| Increase (decrease) in net defined benefit liability | 10 | 12 | 2 |
| Interest and dividend income | (1) | (1) | (1) |
| Interest expenses | 508 | 647 | 619 |
| Share issuance cost | — | 15 | — |
| Share-based compensation expenses | 47 | 47 | 18 |
| Reversal of deposits received | — | (60) | — |
| Amortization of bond issuance cost | — | 1 | 6 |
| Loss (gain) on sales of non-current assets | (28) | (0) | (29) |
| Loss on retirement of non-current assets | — | 0 | — |
| Reversal of consumption taxes for prior period | — | — | (136) |
| Loss from prior period of consumption tax | — | 791 | — |
| Decrease (increase) in notes and accounts receivable - trade | (15) | 1 | 4 |
| Decrease (increase) in inventories | (12,322) | (12,939) | 3,174 |
| Increase (decrease) in notes and accounts payable - trade | 217 | (99) | (98) |
| Increase (decrease) in accrued consumption taxes | (2) | 352 | 75 |
| Decrease (increase) in consumption taxes refund receivable | 16 | 82 | 17 |
| Increase (decrease) in lease and guarantee deposits received | 83 | 268 | (69) |
| Decrease (increase) in other current assets | (3) | 145 | (514) |
| Increase (decrease) in other current liabilities | 148 | 111 | (506) |
| Other | 2 | 26 | (5) |
| Subtotal | (5,204) | (5,005) | 9,976 |
| Interest and dividend income received | 1 | 1 | 1 |
| Interest expenses paid | (498) | (658) | (606) |
| Income taxes paid | (1,590) | (3,061) | (2,104) |
| Net cash provided by (used in) operating activities | (7,292) | (8,723) | 7,266 |
| Cash flows from investing activities | |||
| Payments into time deposits | (1,106) | (1,574) | (1,932) |
| Proceeds from withdrawal of time deposits | 917 | 1,249 | 1,768 |
| Purchase of property, plant and equipment | (897) | (874) | (107) |
| Proceeds from sales of property, plant and equipment | 151 | 0 | 187 |
| Purchase of intangible assets | (57) | (37) | (3) |
| Payments for investments in capital | (2) | (7) | (36) |
| Net cash provided by (used in) investing activities | (996) | (1,242) | (124) |
| Cash flows from financing activities | |||
| Net increase (decrease) in short-term loans payable | (677) | (114) | 957 |
| Proceeds from long-term loans payable | 30,887 | 34,061 | 26,004 |
| Repayments of long-term loans payable | (19,047) | (25,042) | (30,674) |
| Proceeds from issuance of bonds | — | 882 | 1,574 |
| Proceeds from issuance of common stock | — | 1,904 | — |
| Proceeds from exercise of share options | — | — | (210) |
| Repayments of lease obligations | (3) | (2) | (2) |
| Cash dividends paid | (186) | (352) | (511) |
| Net cash provided by (used in) financing activities | 10,978 | 11,338 | (2,862) |
| Net increase (decrease) in cash and cash equivalents | 2,689 | 1,372 | 4,279 |
| Cash and cash equivalents at the beginning of the period | 3,601 | 6,291 | 7,663 |
| Cash and cash equivalents at the end of the period | 6,291 | 7,663 | 11,942 |
