Consolidated Statement of Cash Flows

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    Consolidated Statement of Cash Flows (XLS/47KB)

    (Unit: million yen)

      FY2017 (IFRS) FY2018 (IFRS)
    Cash flows from operating activities
    Profit before income tax 39,232 182,624
    Depreciation, amortization and impairment loss 279,151 198,761
    Finance income and costs 7,286 5,824
    Other comprehensive income -2,670 -10,937
    Loss (gain) on sale of property, plant and equipment, and intangible assets -1,693 -41,218
    Loss on retirement of property, plant and equipment, and intangible assets 7,022 6,519
    Decrease (increase) in trade receivables -9,135 34,863
    Decrease (increase) in contract assets 4,066 115,185
    Decrease (increase) in inventories 99,260 17,229
    Increase (decrease) in trade payables 64,385 51,014
    Increase (decrease) in contract liabilities 79,649 -33,589
    Increase (decrease) in provisions -48,302 46,578
    Increase (decrease) in liability for retirement benefits 11,033 2,162
    Decrease (increase) in indemnification assets of South African projects -40,410 -110,615
    Others -57,778 -15,480
    Subtotal 431,098 448,924
    Interest received 4,032 5,149
    Dividends received 17,438 15,232
    Interest paid -8,456 -6,664
    Income taxes paid -38,360 -57,718
    Net cash provided by (used in) operating activities 405,752 404,924
    Cash flows from investing activities
    Purchases of property, plant and equipment and intangible assets -267,103 -224,263
    Proceeds from sales of property, plant and equipment and intangible assets 8,231 43,509
    Purchases of investments (including investments accounted for using equity method) -105,442 -8,547
    Proceeds from sales and redemption of investments (including investments accounted for using equity method) 114,089 26,975
    Disbursement of loans -1,993 -5,088
    Collection of loans 15,898 3,167
    Others -1,872 2,377
    Net cash provided by (used in) investing activities -238,193 -161,869
    Cash flows from financing activities
    Net increase (decrease) in current borrowings 25,446 -60,613
    Proceeds from non-current borrowings 3,859 7,039
    Repayment of non-current borrowings -96,841 -68,439
    Proceeds from issuance of bonds 20,000 -
    Payment for redemption of bonds -60,000 -30,000
    Proceeds from issuance of stock to non-controlling shareholders 519 1,749
    Dividends paid to equity holders of parent -40,206 -41,888
    Dividends paid to non-controlling interests -6,128 -7,781
    Proceeds from fluidity of lease receivables 209,031 169,271
    Repayment of payables under fluidity lease receivables -166,146 -218,519
    Others -1,868 -6,394
    Net cash provided by (used in) financing activities -112,334 -255,577
    Effect of exchange rate changes on cash and cash equivalents 1,607 -3,478
    Net increase (decrease) in cash and cash equivalents 56,832 -16,001
    Cash and cash equivalents at the beginning of the year 242,404 299,237
    Cash and cash equivalents at the end of period 299,237 283,235

    Consolidated Statements of Cash Flow (JGAAP) for FY 2013-2017

    (Unit: million yen)

      FY2013 FY2014 FY2015 FY2016 FY2017
    Cash flows from operating activities
    Income before income taxes 214,421 232,697 132,682 169,718 128,042
    Depreciation and amortization 134,970 157,010 158,706 172,762 176,104
    Impairment loss 6,910 - 3,393 - 3,174
    Amoritization of goodwill 5,792 11,937 11,416 16,568 16,484
    Increase (decrease) in reserve for retirement allowance -51,904 - - - -
    Increase (decrease) in liability for retirement benefit 57,022 -2,409 -7,820 -1,093 6,612
    Interest and dividend income -6,780 -12,864 -15,577 -15,437 -16,366
    Interest expense 15,629 15,365 13,338 11,461 9,036
    Foreign exchange loss (gain) - - 22,856 -8,337 -2,239
    (Income) loss from equity method investments -1,492 14,128 -5,647 22,845 -3,230
    (Gain) loss on changes in equity interest -130,661 -17,157 - - -
    (Gain) loss on sales of investment securities -13,360 -10,787 - -61,047 -31,303
    Loss on revaluation of investment securities - - - 6,272 372
    (Gain) loss on sales of fixed assets -11,256 -3,960 -5,663 -53,861 -1,693
    Loss on disposal of fixed assets 5,999 6,312 12,959 7,627 7,022
    Gain on negative goodwill -4,928 - -6,867 - -45
    Gain on revision of retirement benefit plan - - -2,208 - -
    Business structure improvement expenses 57,907 16,449 47,251 12,810 14,548
    Loss on passenger vessel construction business reserve 64,126 69,534 103,911 34,323 -
    Gain on return of assets from retiement benefits trust - -11,986 - - -
    (Increase) decrease in receivables -73,900 29,145 75,764 -11,002 -42,093
    (Increase) decrease in inventories and advances to suppliers -15,599 -156,049 -116,847 -121,023 126,965
    (Increase) decrease in other assets -6,590 -8,798 -202,252 -117,552 -110,734
    Increase (decrease) in payables 31,303 5,373 -3,228 -14,261 41,733
    Increase (decrease) in advance payments received on contracts 42,685 24,934 107,093 39,375 118,648
    Increase (decrease) in other liabilities -22,820 -17,341 -4,214 52,556 -54,039
    Others 27,333 2,507 -3,765 -3 -15,908
    Subtotal 324,807 344,040 315,280 142,703 371,089
    Interest and dividends received 7,854 18,905 18,393 20,270 21,470
    Interest paid -16,103 -15,960 -13,800 -12,185 -8,456
    Income taxes paid -20,342 -134,151 -49,870 -54,875 -38,994
    Net cash provided by operating activities 296,216 212,834 270,002 95,913 345,109
    Cash flows from investing activities
    Net (increase) decrease in time deposits 53 -2,230 -2,180 2,521 -5,849
    Purchases of property, plant, equipment and intangible assets -158,198 -163,402 -161,160 -200,185 -165,168
    Proceeds from sales of property, plant, equipment and intangible assets 19,345 14,378 12,535 97,013 8,231
    Purchases of investment securities -27,630 -50,319 -13,112 -5,033 -104,514
    Proceeds from sales and redemption of investment securities 19,623 29,758 11,055 17,376 112,122
    Purchase of investments in subsidiaries resulting in change in scope of consolidation -50,319 - -105,425 - -
    Proceeds from purchase of investments in subsidiaries resulting in change in scope of consolidation 3,398 - 9,574 - -
    Proceeds from sales of investments in subsidiaries resulting in change in scope of conslidation - 2,573 - 102,436 1,900
    Payment for sales of investments in subsidiaries resulting in change in scope of consolidation - - -6,369 -849 -928
    Proceeds from sales of investments in subsidiaries 29,700 - - - -
    Payments for transfer of business - - -2,708 - 1,400
    Disbursement of long-term loans -12,886 -18,275 -6,240 -10,996 -1,993
    Collection of long-term loans 26,607 15,498 4,259 13,868 15,898
    Others -1,249 -2,130 -2,706 -7,440 1,719
    Net cash used in investing activities -151,555 -174,149 -262,479 8,712 -137,181
    Cash flows from financing activities
    Net increase (decrease) in short-term borrowings and commercial papers -7,251 57,256 20,506 -132,340 25,963
    Proceeds from long-term borrowings 59,694 97,115 44,889 60,206 6,449
    Repayment of long-term borrowings -153,072 -188,683 -58,859 -62,804 -96,841
    Proceeds from issuance of bonds 45,000 70,000 20,000 30,000 20,000
    Payment for redemption of bonds -50,000 -70,000 - -20,000 -60,000
    Proceeds from issuance of stock to non-controlling stockholders 3,431 25,228 4,144 445 519
    Dividends paid to stockholders -30,107 -30,139 -40,269 -40,283 -40,206
    Dividends paid to non-controlling stockholders -1,682 -4,133 -10,494 -2,682 -6,128
    Purchase of investments in subsidiaries resulting in no change in scope of consolidation - - -571 - -
    Others -2,681 -2,516 -2,452 5,381 -1,868
    Net cash used in financing activities -136,669 -45,872 -23,106 -162,078 -152,113
    Effect of exchange rate changes on cash and cash equivalents -11,450 -945 -35,194 1,060 1,607
    Net increase (decrease) in cash and cash equivalents -3,459 -8,133 -50,778 -56,392 57,422
    Cash and cash equivalents at beginning of year 319,426 370,710 357,349 300,267 242,404
    Increase in cash and cash equivalents due to changes in scope of consolidation 27,957 - 649 - 2
    Decrease in cash and cash equivalents due to changes in scope of consolidation - -10,845 -6,953 -1,470 -592
    Increase in cash and cash equivalents from corporate partition 26,787 5,617 - - -
    Cash and cash equivalents at end of year 370,710 357,349 300,267 242,404 299,237