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Moving on to cash flows, we see that net cash provided by operating activities increased 119.5 billion yen year on year to total 110.3 billion yen. This uptick is due to steady production and sales in contrast to the same period last year when working capital dropped as a result of stagnant production following on the heels of the March 11 earthquake.
Net cash used for investment activities dropped 46.4 billion yen year on year to hit negative 32.4 billion yen. This decline was due to a gain on the sale of the Subaru Building posted last year as well as ongoing initiatives to boost production capacity.
Free cash flows increased by 73.1 billion yen to reach 77.8 billion yen.
Net cash provided by financing activities dropped 84.8 billion yen year on year to reach minus 32.7 billion yen. This drop came as a result of a decline in interest bearing debt due to the redemption of corporate bonds this year even though loans were increased for post-earthquake operations last year.
Cash and cash equivalents increased 39.9 billion yen to total 319.2 billion yen despite an increase of 21.3 billion yen as a result of the consolidation of overseas subsidiaries. |
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