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Consolidated Financial Statements

<J GAAP> Historical data (2015-2001)

Consolidated Statement of Cash Flows

(Millions of yen)

  2017 2018 2019 2020 2021
Cash flows from (used in) operating activities          
Profit before tax 196,984 207,308 197,391 125,399 199,826
Depreciation and amortization expenses 101,813 109,206 113,036 123,277 134,815
Impairment losses 10,128 294 57 8,819 13,442
Interest and dividend income -2,975 -3,115 -3,103 -3,536 -2,880
Interest expenses 6,725 6,753 7,390 11,164 12,700
Share of profit (loss) of entities accounted for using equity method -1,055 -887 -872 -285 -687
Gain on sales of investments accounted for using equity method -17,898 901 2,300 2,300
Gain (loss) on sales of stocks of subsidiaries and affiliates -10,542 -298
Loss (gain) on sales and disposals of property, plant and equipment 5,469 4,148 3,926 -1,839 -31,083
Increase (decrease) in trade receivables -11,536 -2,759 22,881 48,666 -11,812
Increase (decrease) in inventories -4,752 -8,966 -10,722 3,306 -14,566
Increase (decrease) in trade payables 7,490 -3,397 2,955 -3,302 9,598
Decrease (increase) in accrued alcohol tax -3,834 -3,799 -9,214 -16,609 9,106
Increase (decrease) in net defined benefit assets and liabilities 1,358 655 1,338 1,627 2,084
Other 32,304 52,319 -14,572 37,994 75,992
Subtotal 309,680 358,664 310,192 336,982 396,535
Interest and dividends received 5,839 3,662 3,818 4,182 3,116
Inrerest paid -5,601 -6,831 -6,875 -10,049 -11,224
Income taxes paid -78,205 -103,053 -53,666 -55,256 -50,615
Net cash flows from (used in) operating activities 231,712 252,441 253,469 275,859 337,812
Cash flows from (used in) investing activities          
Purchase of property, plant and equipment -76,636 -78,891 -74,312 -80,775 -80,803
Proceeds from sales of property, plant and equipment 2,315 2,027 4,564 12,095 46,321
Purchase of intangible assets -11,246 -8,997 -11,009 -9,968 -11,832
Purchase of investment securities -1,430 -986 -5,841 -10,237 -464
Proceeds from sales of financial assets 11,939 10,591 8,856 11,869 30,159
Proceeds from sales of investment in an entity accounted for using equity method 68,972 101,646 1,552
Purchase of shares of subsidiaries and others resulting in change in scope of consolidation -891,555 -23,942 -1,165,974 -14,762
Proceeds from sales of subsidiaries and others relating to the change of scope of consolidation 15,318 989 741 83 396
Other -3,499 -3,874 -2,721 -2,017 -2,103
Net cash flows from (used in) investing activities -885,823 22,505 -103,666 -1,243,372 -14,348
Cash flows from (used in) financing activities          
Increase (decrease) in short-term borrowings 41,076 -105,281 38,736 489,155 -440,775
Payments of finance lease liabilities -9,851 -9,087 -22,113 -21,238 -25,215
Proceeds from long-term borrowings 303,378 2,566 1,579 191,000
Repayments of long-term borrowings -62,600 -96,821 -94,569 -100,076 -183,688
Proceeds from issuance of bonds 436,604 607,600 282,048
Redemption of bonds -18,000 -20,000 -35,000 -125,000 -88,328
Proceeds from issuance of new shares 75,027
Purchase of treasury shares -38 -250 -31 -309 -26
Proceeds from disposal of treasury shares 81,307 135
Dividends paid -26,571 -41,229 -48,556 -46,265 -54,220
Proceeds from share issuance to non-controlling shareholders 261 48 201
Purchase of shares of subsidiaries not resulting in change in scope of consolidation -39
Other -2,336 -508 1,113 -3,642 -1,254
Net cash flows from (used in) financing activities 661,882 -270,564 -158,841 956,759 -320,325
Effect of exchange rate changes on cash and cash equivalents 2,111 -4,416 209 10,725 1,144
Net increase (decrease) in cash and cash equivalents 9,883 -33 -8,828 -29 4,283
Cash and cash equivalents at beginning of period 48,459 58,054 57,317 48,489 48,460
Increase (decrease) in cash and cash equivalents resulted from change in scope of consolidation -703
Cash and cash equivalents transferred to assets held for sale -288
Cash and cash equivalents at the end of period 58,054 57,317 48,489 48,460 52,743
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