Consolidated Statements of Cash Flows

 
[Unit: Million yen]
FY2017 FY2018 FY2019 FY2020 FY2021
Cash fl ows from operating activities:
Profit before income taxes 32,999 37,861 39,323 (14,688) 30,853
Depreciation 56,137 59,022 61,283 61,258 60,853
Loss on impairment of fixed assets - - - 15,205 715
Loss on devaluation of stocks of subsidiaries and affiliates - - - 1,444 -
Increase (decrease) in allowance for doubtful accounts 1,093 (667) 238 (343) (110)
Increase (decrease) in provision for sales promotion expenses - 14 707 (5085) 153
Increase (decrease) in provision for bonuses (387) 1,245 889 (3,819) 5,566
Increase (decrease) in provision for construction warranties 814 100 1,412 (1,938) 2,083
Increase (decrease) in provision for loss on construction contracts 11,029 9,336 (16,133) 2,788 (4,838)
Increase (decrease) in employees' retirement and severance benefits - - - - -
Increase (decrease) in retirement benefit liability 13,324 11,982 10,574 11,611 4,778
Increase (decrease) in provision for the in-service issues of commercial aircraft jet engines - 11,468 15,689 (9,705) (2,930)
Interest and dividend income (1,011) (1,203) (983) (2,839) (1,972)
Interest expenses 2,794 3,427 3,615 3,790 3,398
Share of loss (profit) of entities accounted for using equity method (4,492) (1,574) (1,255) (411) 14,412
Loss (gain) on sales of non-current assets (2,606) - (1,277) (3,236) (1,633)
Gain on transfer of business - - - - -
Gain on sales of shares of subsidiaries and affiliates - - - (1581) -
Loss on overseas business - - - - -
Losses from the termination of a shipbuilding contract for an offshore service vessel - 12,833 - - -
Decrease (increase) in notes and accounts receivable—trade (35,516) 58,985 (46,753) 23,267 25,995
Decrease (increase) in inventories (26,443) (65,383) (48,068) (26,374) (39,039)
Increase (decrease) in notes and accounts payable—trade 21,569 6,829 2,401 (16,784) (15,067)
Decrease (increase) in advance payments 6,103 1,202 3,326 (132) (31,724)
Increase (decrease) in advances received (10,092) (14,013) (31,827) 4,209 92,098
Decrease (increase) in other current assets (22,937) (1,557) (8,986) 8,900 (28,723)
Increase (decrease) in other current liabilities 8,644 2,299 19,011 2,988 43,354
Other, net (789) 1,192 (3,079) (5,570) (623)
Subtotal 63,066 120,553 (600) 42,953 157,599
Interest and dividend income received 4,166 3,859 2,500 6,370 2,629
Interest expenses paid (2,795) (3,439) (3,630) (3,646) (3,634)
Income taxes paid (8,386) (11,211) (13,731) (5,570) (12,164)
Net cash provided by (used in) operating activities 56,050 109,762 (15,461) 34,601 144,430
Cash flows from investing activities:
Purchase of property, plant and equipment and intangible assets (82,238) (82,836) (71,947) (51,692) (62,399)
Proceeds from sales of property, plant and equipment and intangible assets 6,452 605 6,087 13,656 5,556
Purchase of investment securities (512) (1,025) (935) (1,042) (2,114)
Proceeds from sales of investment securities 342 989 1,232 1,407 5,717
Purchase of shares of subsidiaries and associates (3,408) (3,818) (5,400) (97) (11)
Proceeds from sales of investments in subsidiaries and affiliates - - - 1,927 -
Acquisition of investments in subsidiaries and affiliates - - - - -
Proceeds from sales of business - - - - -
Other, net (1,226) 741 1,562 (1,551) 714
Net cash provided by (used in) investing activities (80,590) (85,344) (69,401) (37,392) (52,537)
Cash flows from financing activities:
Net increase (decrease) in short-term loans payable 16,363 (10,866) 103,758 (28,409) (74,242)
Proceeds from long-term loans payable 64,363 34,772 24,348 27,310 15,500
Repayments of long-term loans payable (42,694) (30,709) (28,938) (22,297) (17,001)
Proceeds from issuance of bonds 20,000 20,000 40,000 60,000 10,000
Redemption of bonds (10,000) (20,000) (10,000) (20,000) (30,000)
Cash dividends paid (8,375) (10,868) (11,710) (59) (3,384)
Dividends paid to non-controlling interests (1,433) (1,950) (989) (960) (913)
Other, net (454) (149) (664) 7,509 (2,303)
Net cash provided by (used in) financing activities 37,770 (19,771) 115,803 23,093 (102,345)
Effect of exchange rate change on cash and cash equivalents 410 (696) 3,520 (682) (3,202)
Net increase (decrease) in cash and cash equivalents 13,640 3,949 34,461 19,619 (13,654)
Cash and cash equivalents at beginning of period 50,722 64,362 68,084 102,546 122,166
Decrease in cash and cash equivalents arising from exclusion of consolidated subsidiaries (438) - - - -
Increase (decrease) in cash and cash equivalents due to changes in fiscal period of consolidated subsidiaries - - - - -
Total 64,362 68,311 102,546 122,166 108,511

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