For the years ended March 31, 2011 and 2010
| Millions of Yen | Thousands of U.S Dollars | ||
|---|---|---|---|
| 2011 | 2010 | 2011 | |
| Cash flows from operating activities: | |||
| Income before income taxes and minority interests | ¥4,718 | ¥5,027 | $56,838 |
| Adjustments for: | |||
| ncome taxes paid | (2,379) | (798) | (28,667) |
| Income taxes refunded | 142 | 1,131 | 1,716 |
| Depreciation and amortization | 4,332 | 3,798 | 52,191 |
| Gain on sale of investment securities | (506) | — | (6,091) |
| Loss on write-down of investment securities | 40 | — | 488 |
| Gain on sale of property, plant and equipment | (7) | (11) | (87) |
| Loss on sale and disposal of property, plant and equipment | 33 | 110 | 396 |
| Loss on sale of stock of a subsidaiary | 288 | — | 3,467 |
| Equity in earnings of affiliated companies | (231) | (261) | (2,782) |
| Provision for doubtful accounts | 66 | 87 | 796 |
| Increase in liability for employees' retirement benefits | 6 | 12 | 70 |
| Foreign exchange (loss) gain , net | (145) | 6 | (1,752) |
| Changes in assets and liabilities: | |||
| (Increase) decrease in notes and accounts receivable | (74) | 423 | (887) |
| (Increase) decrease in inventories | (1,663) | 2,417 | (20,041) |
| Decrease in interest and dividend receivable | 9 | 302 | 107 |
| Increase (decrease) in notes and accounts payable | 1,933 | (177) | 23,288 |
| Other | (557) | (392) | (6,701) |
| Net cash provided by operating activities | 6,005 | 11,674 | 72,349 |
| Cash flows from investing activities: | |||
| Decrease in short-term investments, net | 44 | 59 | 527 |
| Payments for purchases of property, plant and equipment | (1,591) | (2,467) | (19,179) |
| Proceeds from sale of property, plant and equipment | 15 | 47 | 185 |
| Payments for purchase of other assets | (507) | (217) | (6,112) |
| Payments for sale and purchase of investment securities | — | (0) | — |
| Proceeds from sale and redemption of investment securities | 937 | 0 | 11,293 |
| Payment for acquisition of shares of newly-consolidated subsidiaries | — | (22,573) | — |
| Proceeds from sale of stock of a subsidiary | 460 | — | 5,546 |
| Collection of loans receivable | 42 | 18 | 510 |
| Payments for loans receivable | (9) | (75) | (113) |
| Net cash used in investing activities | (609) | (25,208) | (7,343) |
| Cash flows from financing activities: | |||
| Increase in short-term bank loans | 3,632 | 1,181 | 43,759 |
| Proceeds from long-term debt | 9,373 | 29,260 | 112,937 |
| Repayment of long-term debt | (5,403) | (21,554) | (65,101) |
| Proceeds from issuance of shares | — | 898 | — |
| Repurchase of treasury stock | (15) | (8) | (177) |
| Disposal of treasury stock | — | 5,991 | — |
| Cash dividends paid | (951) | (751) | (11,462) |
| Cash dividends paid to minority shareholders | (12) | (12) | (149) |
| Net cash provided by financing activities | 6,624 | 15,005 | 79,807 |
| Foreign currency translation adjustments | (346) | (16) | (4,163) |
| Net increase in cash and cash equivalents | 11,674 | 1,455 | 140,650 |
| Cash and cash equivalents at beginning of year | 11,298 | 9,830 | 136,122 |
| Increase in cash and cash equivalents from newly-consolidated subsidiaries | — | 13 | — |
| Cash and cash equivalents at end of year | ¥22,972 | ¥11,298 | $276,772 |
