IFRS

◇ Cash flows from operating activities

(unit: million yen)
2021/03 2022/03 2023/03 2024/03 2025/03
Profit before tax 49,651 64,230 60,978 66,712 73,975
Profit (loss) before tax from discontinued operations -12 -106 -275 -11 -11
Depreciation and amortization 39,033 43,378 44,987 46,590 49,231
Gain on bargain purchase ー ー ー ー ー
Interest and dividend income -1,012 -1,162 -1,435 -1,913 -2,974
Interest expenses 2,108 1,932 2,411 3,592 4,352
Share of loss (profit) of investments accounted for using equity method -2,287 -1,942 -2,502 -2,056 -4,264
Loss (gain) on sale and retirement of fixed assets 277 217 -3,266 -379 -4,774
Loss on liquidation of business ー ー ー ー ー
Decrease (increase) in trade and other receivables 1,170 -10,874 -26,422 -5,172 2,370
Decrease (increase) in inventories -2,778 -6,570 -14,689 2,619 -4,842
Increase (decrease) in trade and other payables -1,120 9,228 20,177 -6,289 -6,067
Decrease (increase) in contract assets 2,042 -2,005 -942 1,756 1,233
Increase (decrease) in contract liabilities 1,307 2,052 -55 -1,624 25
Other 3,993 -4,050 -8,746 -6,203 3,924
Subtotal 92,375 94,326 70,217 97,619 112,177
Interest and dividends received 1,560 1,579 1,972 2,203 3,101
Interest paid -2,082 -2,001 -2,280 -3,488 -4,425
Income taxes refund (paid) -15,251 -22,331 -12,956 -16,709 -17,616
Net cash provided by (used in) operating activities 76,601 71,572 56,953 79,625 93,236

◇ Cash flows from investing activities

(unit: million yen)
2021/03 2022/03 2023/03 2024/03 2025/03
Purchase of property, plant and equipment - 50,316 - 44,975 -64,549 -63,469 -67,479
Proceeds from sale of property, plant and equipment 1,707 1,793 6,321 2,327 6,349
Purchase of intangible assets - 1,711 - 1,360 - 2,120 -2,999 -3,660
Purchase of investment securities - 2,781 - 10,468 - 3,934 -6,226 -3,929
Proceeds from sale of investment securities 1,344 5,931 447 1,491 6,218
Purchase of shares of subsidiaries resulting in change in scope of consolidation - 1,566 - 4,651 - 5,284 -7,322 -1,100
Payments for loans receivable - 2,695 ー -231 -4,657 -561
Collection of loans receivable 2,002 481 907 1,594 1,221
Payments for acquisition of businesses － － - 2,094 -20,133 ー
Proceeds from sale of businesses － － ー ー ー
Other 1,317 93 - 595 1,430 775
Net cash provided by (used in) investing activities - 52,699 - 53,154 - 71,135 -97,966 -62,166

◇ Cash flows from financing activities

(unit: million yen)
2021/03 2022/03 2023/03 2024/03 2025/03
Net increase (decrease) in short-term borrowings -31,284 168 6,080 -245 -5,247
Proceeds from long-term borrowings 63,464 7,667 52,176 41,128 40,777
Repayments of long-term borrowings -28,659 -20,243 -30,521 -37,180 -36,711
Proceeds from issuance of bonds 10,000 20,000 10,000 30,000 ー
Redemption of bonds -10,150 ー ー ー ー
Payments for acquisition of interests in subsidiaries from non-controlling interests -1,840 -3,188 -1,302 -1,004 -5,298
Proceeds from sale and leaseback transactions 1,927 522 776 950 706
Repayments of lease liabilities -5,946 -5,963 -5,515 -5,422 -6,590
Capital contribution from non-controlling interests ー 4,895 ー ー ー
Proceeds from issuance of shares ー ー ー ー ー
Purchase of treasury shares -7,834 ー ー ー ー
Dividends paid -10,463 -11,207 -13,041 -14,193 -15,114
Dividends paid to non-controlling interests -787 -421 -602 -569 -779
Other 685 1,148 1,206 1,260 922
Net cash provided by (used in) financing activities - 20,889 - 6,622 19,257 14,723 -27,335

◇ Cash and cash equivalents at end of period

(unit: million yen)
2021/03 2022/03 2023/03 2024/03 2025/03
Effect of exchange rate changes on cash and cash equivalents 97 782 47 661 1,636
Net increase (decrease) in cash and cash equivalents 3,110 12,577 5,122 - 2,956 5,372
Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation 1,011 992 1,267 1,986 262
Cash and cash equivalents at beginning of period 41,861 45,983 59,554 65,944 64,975
Cash and cash equivalents at end of period 45,983 59,554 65,944 64,975 70,609

JGAAP

(unit: million yen)
FY2016 FY2017 FY2018 FY2019
Cash flows from operating activities 43,512 58,873 47,764 56,690
Cash flows from investing activities -40,647 -44,357 -61,637 -88,804
Cash flows from financing activities - 8,115 - 8,553 4,489 40,905
Effect of exchange rate changes on cash and cash equivalents - 100 - 293 - 104 - 266
Net increase (decrease) in cash and cash equivalents - 5,351 5,669 - 9,487 8,524
Cash and cash equivalents at beginning of year 28,763 23,595 30,412 22,433
Increase in cash and cash equivalents resulting from merger 102 538 72 81
Increase in cash and cash equivalents from newly consolidated subsidiary 82 608 1,436 430
Cash and cash equivalents at end of year 23,595 30,412 22,433 31,470