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Consolidated Statements of Cash Flows

(Millions of yen)

  2014/3 2015/3 2016/3 2017/3 2018/3 2019/3
Cash flows from operating activities [Net] 146,991 131,881 124,838 115,633 135,821 126,035
Cash flows from investing activities [Net] △45,517 △52,529 △78,843 △84,845 △88,351 △116,160
Purchases of property and equipment △89,845 △86,970 △92,686 △92,767 △102,863 △137,809
Proceeds from sale of property and equipment 21,619 5,588 5,064 2,186 2,010 16,310
Purchases of investment securities △2,438 △10,353 △14,228 △11,527 △7,807 △11,744
Proceeds from sale of investment securities 1,010 19,747 618 1,611 - -
Proceeds from sale of investments in consolidated subsidiaries affecting scope of consolidation 3,285 - - - - -
Net decrease (increase) in short-term loans receivable 2,335 - - - - -
Receipt of contributions for construction works 14,115 21,098 20,623 13,973 21,222 18,252
Cash flows from financing activities [Net] △105,079 △81,746 △47,278 △30,595 △43,242 △11,171
Net increase (decrease) in short-term borrowings △13,191 2,363 △21,628 △546 △33,954 1,949
Proceeds from long-term borrowings 105,350 90,100 65,830 65,190 56,140 30,450
Repayment of long-term debt △184,737 △153,170 △76,570 △68,576 △43,293 △41,278
Proceeds from new bonds issued 9,934 9,930 - 19,858 - 19,866
Redemption of bonds △10,000 △20,000 - △30,000 △10,000 -
Purchase of treasury stock - △169 △3,779 △5,271 △10,689 △10,199
Dividends paid △9,500 △8,229 △8,227 △8,803 △9,360 △9,896
Dividends paid to non-controlling interests △329 △485 △331 △406 △363 △378
Proceeds from non-controlling interests - - - - 10,115 18
Effect of exchange rate changes on cash and cash equivalents 1,765 1,270 △694 △673 360 △551
Increase (decrease) in cash and cash equivalents △1,840 △1,125 △1,978 △480 4,588 △1,868
Cash and cash equivalents at beginning of year 25,581 24,497 23,497 22,363 22,530 27,501
Increase in cash and cash equivalents from newly consolidated subsidiaries 755 125 844 648 383 1,935
Cash and cash equivalents at end of year 24,497 23,497 22,363 22,530 27,501 27,589
(Free Cash Flow)
  101,474 79,352 45,995 30,788 47,470 9,875
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