Financial Information

Consolidated Financial Statements

Consolidated Statement of Cash Flows

(Millions of yen)

  2016 2017 2018
Cash flows from (used in) operating activities      
Profit before tax 150,068 196,984 207,308
Depreciation and amortization expenses 71,131 101,813 109,206
Impairment losses 6,336 10,128 294
Interest and dividend income -2,836 -2,975 -3,115
Interest expenses 3,763 6,725 6,753
Share of profit (loss) of entities accounted for using equity method -1,974 -1,055 -887
Gain on sales of investments accounted for using equity method -12,163 -17,898 901
Gain (loss) on sales of stocks of subsidiaries and affiliates -10,542
Loss (gain) on sales and disposals of property, plant and equipment -1,324 5,469 4,148
Gain on remeasurements related to business combinations
Increase (decrease) in trade receivables -9,821 -11,536 -2,759
Increase (decrease) in inventories -607 -4,752 -8,966
Increase (decrease) in trade payables 6,369 7,490 -3,397
Decrease (increase) in accrued alcohol tax 497 -3,834 -3,799
Increase (decrease) in net defined benefit assets and liabilities -2,096 1,358 655
Other -2,623 32,304 52,319
Subtotal 204,718 309,680 358,664
Interest and dividends received 5,546 5,839 3,662
Inrerest paid -3,658 -5,601 -6,831
Income taxes paid -52,153 -78,205 -103,053
Net cash flows from (used in) operating activities 154,452 231,712 252,441
Cash flows from (used in) investing activities      
Purchase of property, plant and equipment -50,357 -76,636 -78,891
Proceeds from sales of property, plant and equipment 11,923 2,315 2,027
Purchase of intangible assets -7,791 -11,246 -8,997
Purchase of investment securities -2,286 -1,430 -986
Proceeds from sales of financial assets 30,870 11,939 10,591
Proceeds from sales of investment in an entity accounted for using equity method 36,440 68,972 101,646
Purchase of shares of subsidiaries and others resulting in change in scope of consolidation -290,893 -891,555
Proceeds from sales of subsidiaries and others relating to the change of scope of consolidation 15,318 989
Other 3,587 -3,499 -3,874
Net cash flows from (used in) investing activities -268,507 -885,823 22,505
Cash flows from (used in) financing activities      
Increase (decrease) in short-term borrowings -10,793 41,076 -105,281
Payments of finance lease liabilities -10,765 -9,851 -9,087
Proceeds from long-term borrowings 205,310 303,378 2,566
Repayments of long-term borrowings -7,479 -62,600 -96,821
Proceeds from issuance of bonds 436,604
Redemption of bonds -30,000 -18,000 -20,000
Purchase of treasury shares -21 -38 -250
Dividends paid -23,817 -26,571 -41,229
Proceeds from share issuance to non-controlling shareholders 313 261 48
Purchase of shares of subsidiaries not resulting in change in scope of consolidation -2,773 -39
Other -419 -2,336 -508
Net cash flows from (used in) financing activities 119,554 661,882 -270,564
Effect of exchange rate changes on cash and cash equivalents 642 2,111 -4,416
Net increase (decrease) in cash and cash equivalents 6,141 9,883 -33
Cash and cash equivalents at beginning of period 43,290 48,459 58,054
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 -972 -288
Cash and cash equivalents at the end of period 48,459 58,054 57,317

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