IFRS

◇ Cash flows from operating activities

2019/03 2020/03 2021/03 2022/03
Profit before tax 42,111 49,830 49,651 64,230
Profit (loss) before tax from discontinued operations - 912 - 220 - 12 - 106
Depreciation and amortization 30,776 34,994 39,033 43,378
Gain on bargain purchase - 2,089
Interest and dividend income - 1,173 - 1,266 - 1,012 - 1,162
Interest expenses 1,576 1,935 2,108 1,932
Share of loss (profit) of investments accounted for using equity method - 1,685 - 1,605 - 2,287 - 1,942
Loss (gain) on sale and retirement of fixed assets 2,905 - 736 277 217
Loss on liquidation of business 2,816 1,277
Decrease (increase) in trade and other receivables 2,800 11,510 1,170 - 10,874
Decrease (increase) in inventories - 3,797 - 3,741 - 2,778 - 6,570
Increase (decrease) in trade and other payables 10,334 - 19,662 - 1,120 9,228
Decrease (increase) in contract assets -4 ,983 - 3,768 2,042 - 2,005
Increase (decrease) in contract liabilities 335 - 2,942 1,307 2,052
Other - 5,665 - 4,331 3,993 - 4,050
Subtotal 75,441 59,183 92,375 94,326
Interest and dividends received 1,565 1,626 1,560 1,579
Interest paid - 1,547 - 1,932 - 2,082 - 2,001
Income taxes refund (paid) - 14,247 - 15,093 - 15,251 - 22,331
Net cash provided by (used in) operating activities 61,212 43,784 76,601 71,572

◇ Cash flows from investing activities

Purchase of property, plant and equipment - 71,806 - 61,863 - 50,316 - 44,975
Proceeds from sale of property, plant and equipment 1,320 2,663 1,707 1,793
Purchase of intangible assets - 2,349 - 2,324 - 1,711 - 1,360
Purchase of investment securities - 7,610 - 8,658 - 2,781 - 10,468
Proceeds from sale of investment securities 1,344 5,931
Purchase of shares of subsidiaries resulting in change in scope of consolidation - 8,503 - 17,472 - 1,566 - 4,651
Payments for loans receivable - 19,389 - 17,113 - 2,695 - 392
Collection of loans receivable 19,075 18,516 2,002 481
Payments for acquisition of businesses - 2,016 - 45,928
Proceeds from sale of businesses 14,158
Other - 334 2,424 1,317 485
Net cash provided by (used in) investing activities - 91,615 - 115,597 - 52,699 - 53,154

◇ Cash flows from financing activities

Net increase (decrease) in short-term borrowings 19,814 13,105 - 31,284 168
Proceeds from long-term borrowings 46,886 49,476 63,464 7,667
Repayments of long-term borrowings - 25,826 - 21,633 - 28,659 - 20,243
Proceeds from issuance of bonds 10,000 10,000 10,000 20,000
Redemption of bonds - 250 - 10,150 - 15
Payments for acquisition of interests in subsidiaries from non-controlling interests -1,989 - 3,058 - 1,840 - 3,188
Proceeds from sale and leaseback transactions 2,434 1,166 1,927 522
Repayments of lease liabilities -4,629 - 6,029 - 5,946 - 5,963
Capital contribution from non-controlling interests 4,895
Proceeds from issuance of shares 46,955
Purchase of treasury shares - 3 - 7,834 - 2
Dividends paid - 7,868 - 8,029 - 10,463 - 11,207
Dividends paid to non-controlling interests - 652 - 2,703 - 787 - 421
Other 875 1,731 685 1,166
Net cash provided by (used in) financing activities 39,045 80,981 - 20,889 - 6,622

◇ Cash and cash equivalents at end of period

Effect of exchange rate changes on cash and cash equivalents - 266 - 669 97 782
Net increase (decrease) in cash and cash equivalents 8,374 8,499 3,110 12,577
Increase (decrease) in cash and cash equivalents resulting from change in scope of consolidation 430 1,253 1,011 992
Cash and cash equivalents at beginning of period 23,303 32,108 41,861 45,983
Cash and cash equivalents at end of period 32,108 41,861 45,983 59,554

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