Consolidated Statement of Cash Flows
SHARE
(Unit: million yen)
| FY2018 (IFRS) | FY2019 (IFRS) | FY2020 (IFRS) | FY2021 (IFRS) | FY2022 (IFRS) | |
|---|---|---|---|---|---|
| Cash flows from operating activities | |||||
| Profit before income tax | 195,059 | -32,660 | 49,355 | 173,684 | 191,126 |
| Depreciation, amortization and impairment loss | 202,789 | 323,967 | 238,258 | 135,787 | 148,549 |
| Finance income and costs | 7,234 | 2,324 | -5,369 | 1,645 | -2,147 |
| Share of loss (profit) of investments accounted for using equity method | -10,937 | -12,898 | -15,158 | -16,861 | -13,502 |
| Loss (gain) on sale of shares of subsidiaries and associates | - | - | -83,041 | - | - |
| Loss (gain) on sale of property, plant and equipment | -41,218 | -978 | -45,570 | -37,532 | -29,018 |
| Loss on disposal of property, plant and equipment, and intangible assets | 6,519 | 7,842 | 6,912 | 5,328 | 7,154 |
| Decrease (increase) in trade receivables | 34,863 | 65,082 | -27,739 | -51,031 | -32,978 |
| Decrease (increase) in contract assets | 115,185 | 46,447 | 4,308 | -58,722 | -64,500 |
| Decrease (increase) in inventories and advanced payments | 17,229 | 39,162 | 57,222 | -89,963 | -65,690 |
| Increase (decrease) in trade payables | 51,014 | -27,859 | -68,731 | 73,101 | -55,676 |
| Increase (decrease) in contract liabilities | -33,589 | -34,185 | -124,703 | 132,985 | 32,436 |
| Increase (decrease) in provisions | 45,522 | -12,559 | -11,011 | -1,120 | 27,285 |
| Increase (decrease) in retirement benefit liabilities | 2,162 | -126 | 3,496 | 21,969 | -3,102 |
| Decrease (increase) in indemnification assets of South African projects | -110,615 | 131,777 | - | - | - |
| Others | -15,464 | 8,715 | 5,094 | -20,527 | -4,691 |
| Subtotal | 465,759 | 504,051 | -16,677 | 268,744 | 135,244 |
| Interest received | 5,149 | 7,218 | 5,407 | 5,537 | 7,755 |
| Dividends received | 15,232 | 14,903 | 14,968 | 23,627 | 26,898 |
| Interest paid | -6,664 | -10,444 | -9,543 | -10,559 | -13,114 |
| Income taxes paid | -57,718 | -63,164 | -89,102 | -1,786 | -75,894 |
| Net cash provided by operating activities | 420,349 | 452,564 | -94,948 | 285,563 | 80,888 |
| Cash flows from investing activities | |||||
| Payments into time deposits | - | - | - | -14,033 | -26,067 |
| Proceeds from withdrawal of time deposits | - | - | - | 9,677 | 28,809 |
| Purchases of property, plant and equipment and intangible assets | -224,263 | -246,291 | -146,212 | -129,256 | -131,905 |
| Proceeds from sales of property, plant and equipment and intangible assets | 43,509 | 31,133 | 43,956 | 51,744 | 38,062 |
| Purchases of investments (including investments accounted for using equity method) | -8,547 | -13,924 | -15,796 | -11,193 | -7,788 |
| Proceeds from sales and redemption of investments (including investments accounted for using equity method) | 26,975 | 23,981 | 12,521 | 99,214 | 59,111 |
| Payments for sale of subsidiaries (including subsidiaries) | - | - | - | -1,258 | -944 |
| Proceeds from sales of businesses (including subsidiaries) | - | - | - | 11,756 | - |
| Payments for acquisition of businesses (including subsidiaries) | - | - | -71,082 | - | -4,420 |
| Proceeds from acquisition of businesses (inculding subsidiaries) | - | - | - | 4,799 | 1,863 |
| Disbursement of loans | -5,088 | - | - | - | - |
| Collection of loans | 3,167 | - | - | - | - |
| Payments for acquisition of subsidiaries | - | -28,733 | - | - | - |
| Proceeds from sale of subsidiaries | - | 1,652 | 775 | - | - |
| Net decrease (increase) in short-term loans | - | 201 | 708 | 1,660 | -1,932 |
| Disbursement of long-term loans | - | -807 | -8,482 | -60 | -48 |
| Collection of long-term loans | - | 237 | 222 | 204 | 711 |
| Payments for derivative transactions | - | - | - | -20,754 | -38,918 |
| Proceeds from derivative transactions | - | - | - | 15,490 | 42,268 |
| Others | 2,377 | -7,015 | 1,138 | -1,683 | -4,375 |
| Net cash used in investing activities | -161,869 | -239,566 | -182,249 | 16,306 | -45,575 |
| Cash flows from financing activities | |||||
| Net increase (decrease) in current borrowings | -60,613 | -19,800 | 96,778 | -182,326 | -4,532 |
| Proceeds from non-current borrowings | 7,039 | 65,341 | 212,500 | 22,330 | 50,966 |
| Repayment of non-current borrowings | -68,439 | -45,506 | -58,146 | -31,338 | -97,656 |
| Proceeds from issuance of bonds | - | - | 65,000 | 55,000 | 20,000 |
| Payment for redemption of bonds | -30,000 | -65,000 | -10,000 | -45,000 | -10,000 |
| Proceeds from issuance of stock to non-controlling shareholders | 1,749 | 19 | - | - | - |
| Payments for acquisition of interests in subsidiaries from non-controlling interests | - | -13,908 | -22,549 | -2,000 | -24,473 |
| Purchase of treasury shares | - | - | - | -2,550 | -16 |
| Dividends paid to owners of parent | -41,888 | -46,933 | -25,667 | -40,224 | -38,531 |
| Dividends paid to non-controlling interests | -7,781 | -5,837 | -5,144 | -5,501 | -6,769 |
| Proceeds from factoring agreements | 169,271 | 145,264 | 139,315 | 140,608 | 200,235 |
| Repayment of liabilities under factoring agreements | -218,519 | -192,502 | -145,045 | -133,226 | -80,738 |
| Payment for lease liabilities | -17,135 | -23,256 | -22,667 | -28,154 | -26,850 |
| Others | -4,684 | -2,332 | -2,633 | -3,389 | -534 |
| Net cash provided by (used in) financing activities | -271,002 | -204,452 | 221,737 | -255,774 | -18,902 |
| Effect of exchange rate changes on cash and cash equivalents | -3,478 | -10,153 | 19,255 | 22,740 | 16,995 |
| Net increase (decrease) in cash and cash equivalents | -16,001 | -1,608 | -36,205 | 68,836 | 33,406 |
| Cash and cash equivalents at the beginning of the year | 299,237 | 283,235 | 281,626 | 245,421 | 314,257 |
| Cash and cash equivalents at the end of period | 283,235 | 281,626 | 245,421 | 314,257 | 347,663 |
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 | |