Consolidated statement of cash flows

Unit: Millions of yen

FY 2012
(Year ended March 20,2013)
FY 2013
(Year ended March 20,2014)
FY 2014
(Year ended March 20,2015)
FY 2015
(Year ended March 20,2016)
FY 2016
(Year ended March 20,2017)
Cash flows from business activities
Profit before income taxes 12,125 25,717 34,413 35,202 29,910
Depreciation 8,114 9,214 11,534 13,063 12,076
Impairment loss 286 374 116 718
Increase / Decrease in allowance for doubtful accounts -225 161 1,290 -456 138
Increase / Decrease in provision for employees’ retirement benefits -4,909 392
Decrease in net defined benefit liability -276 -930 -1,425
Increase / Decrease in provision for directors’ retirement benefits -72 4 -9 24 -17
Loss on sales and retirement of non-current assets 105 66 40 347 347
Loss on sales of investment securities -51 -504 -105 -0
Gain / Loss on sales of shares of subsidiaries and associates -172 -445 149 310
Gain / Loss on sales of investment in capital of subsidiaries and associates -30 72 37
Loss on valuation of investment securities 219 1 33 283 589
Interest and dividend income -535 -556 -706 -900 -540
Interest expenses 620 789 928 805 565
Increase / Decrease in notes and accounts receivable―trade 171 -1,945 -5,263 -103 -10,154
Increase / Decrease in inventories 7,084 -8,375 -1,395 3,627 -3,324
Increase / Decrease in notes and accounts payable―trade -1,128 3,430 -6,190 -3,653 7,835
Increase / Decrease in accounts payable―other 1,176 77 1,855 -971 -933
Other, net 5,112 742 1,503 -3,364 4,343
Subtotal 27,921 30,067 36,922 43,091 40,475
Interest and dividend income received 983 1,097 1,272 1,735 1,537
Interest expenses paid -618 -780 -957 -796 -575
Income taxes paid -3,646 -6,411 -8,213 -12,075 -7,684
Net cash provided by operating activities 24,640 23,972 29,023 31,954 33,752
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets -11,278 -15,898 -18,509 -20,645 -15,154
Proceeds from sales of property, plant and equipment and intangible assets 167 572 226 54 92
Purchases of investment in securities -2,453 -1,432 -3 -537 -3,633
Proceeds from sales and redemption of investment securities 139 30 1,222 647 363
Purchase of shares of subsidiaries -1,279 -1,622
Purchase of shares of subsidiaries resulting in change in scope of consolidation -4,242 -100 -8,302
Payments for sales of shares of subsidiaries resulting in change in scope of consolidation -930 -212 -151
Proceeds from purchase of shares of subsidiaries resulting in change in scope of consolidation 90
Proceeds from sales of shares of subsidiaries resulting in change in scope of consolidation 158 76 96 111
Other, net -641 -112 -373 -202 -563
Net cash used in investing activities -18,058 -16,942 -27,874 -22,421 -18,936
Cash flows from financing activities
Net increase / decrease short-term loans payable -12,146 -3,911 -3,536 4,418 -6,707
Proceeds from long-term loans payable 10,538 5,886 12,240 5,345 2,371
Repayments of long-term loans payable -4,802 -4,794 -6,035 -6,028 -6,258
Cash dividends paid -2,519 -2,771 -3,526 -5,773 -5,331
Dividends paid to non-controlling interests -86 -301 -472 -431 -242
Other, net -36 -92 -140 -131 -285
Net cash used in financing activities -9,053 -5,983 -1,471 -2,601 -16,453
Effect of exchange rate change on cash and cash equivalents 1,339 1,315 1,676 283 -561
Net increase / decrease in cash and cash equivalents -1,131 2,361 1,355 7,214 -2,198
Cash and cash equivalents at the beginning of period 20,206 19,389 22,992 24,347 31,656
Increase in cash and cash equivalents from newly consolidated subsidiary 36 1,183 277
Increase in cash and cash equivalents resulting from merger with unconsolidated subsidiaries 277 58 93
Cash and cash equivalents at the end of period 19,389 22,992 24,347 31,656 29,735

Consolidated cash flows

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