Moving on to cash flows, we see that net cash provided by operating activities remained in the black and totaled 138.2 billion yen for a drop of 38.5 billion yen year on year, due to increased pre-tax net income while there were no major fluctuations in working capital. Net cash used in investment activities decreased 11.5 billion yen year on year to total a negative 51.1 billion yen due to slightly reduced investments. Free cash flows decreased by 27.0 billion yen year on year to reach 87.1 billion yen. Net cash used in financing activities increased 20.8 billion yen year on year to reach negative 39.4 billion yen as a result of a decline in interest bearing debts. Cash and cash equivalents increased 36.2 billion yen year on year to total 227.7 billion yen.