Consolidated Statement of Cash Flows

  • Text Size:SML
  • Print
    Consolidated Statement of Cash Flows (55 KB)

    (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