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 |
Financial Information:
Annual Report 2004
 |
|
Consolidated
Statements of Cash Flows |
| NSK Ltd. and Subsidiaries |
|
| |
|
|
|
|
|
|
| |
Millions of yen |
Thousands of
U.S. dollars
(Note 2) |
|
| For the years ended March 31 |
2004 |
2003 |
2004 |
|
| |
| Operating activities |
| |
Income (loss) before income taxes and minority
interests |
¥26,451 |
¥(2,127) |
$249,538 |
| Depreciation and amortization |
26,909 |
28,812 |
253,858 |
| Provision for retirement benefits |
1,375 |
(15,076) |
12,972 |
| Amortization of excess of cost over net assets
acquired |
427 |
- |
4,028 |
| Interest expense |
6,058 |
6,567 |
57,151 |
| Loss on devaluation of investment securities |
- |
12,899 |
- |
| Gain on sales of property, plant and equipment |
- |
(881) |
- |
| Gain on sales of investment securities |
(7,663) |
(3,203) |
(72,292) |
| Increase in notes and accounts receivable |
(12,863) |
(2,354) |
(121,349) |
| Decrease in inventories |
5,658 |
10,577 |
53,377 |
| Increase in notes and accounts payable |
1,216 |
1,316 |
11,472 |
| Other, net |
3,078 |
3,296 |
29,038 |
|
| |
Subtotal |
50,648 |
39,826 |
477,811 |
| Interest paid |
(6,185) |
(7,475) |
(58,349) |
| Income taxes paid |
(6,573) |
(1,389) |
(62,009) |
|
| Net cash provided by operating activities |
37,889 |
30,961 |
357,443 |
|
| |
| Investing activities |
| |
Additions to property, plant and equipment |
(21,646) |
(24,734) |
(204,208) |
| |
Proceeds from sales of property, plant and equipment |
3,376 |
3,065 |
31,849 |
| |
Increase in investments in affiliated companies |
(589) |
(565) |
(5,557) |
| |
Decrease in investments in affiliated companies |
133 |
- |
1,255 |
| |
Acquisition of subsidiaries’ stock resulting
in changes in scope of consolidation (Note 17) |
(9,339) |
- |
(88,104) |
| |
Proceeds from sales of subsidiaries’ stock
resulting in changes in scope of consolidation (Note 17) |
(355) |
1,046 |
(3,349) |
| |
Decrease in investment securities |
12,380 |
6,139 |
116,792 |
| |
Other, net |
(918) |
(1,174) |
(8,660) |
|
| Net cash used in investing activities |
(16,958) |
(16,223) |
(159,981) |
|
| |
| Financing activities |
| |
Decrease in short-term debt |
(8,878) |
(7,025) |
(83,755) |
| |
Proceeds from issuance of bonds |
- |
20,000 |
- |
| |
Payments of bonds |
(10,000) |
(20,000) |
(94,340) |
| |
Increase in long-term debt |
996 |
1,866 |
9,396 |
| |
Cash dividends paid |
(2,698) |
(2,721) |
(25,453) |
| |
Acquisition of treasury stock |
(17) |
(3,665) |
(160) |
| |
Other, net |
(132) |
(273) |
(1,245) |
|
| Net cash used in financing activities |
(20,730) |
(11,819) |
(195,566) |
|
| |
| Effect of exchange rate changes on cash and cash
equivalents |
(145) |
(539) |
(1,368) |
|
| Net increase in cash and cash equivalents |
54 |
2,380 |
509 |
| Cash and cash equivalents at beginning of the
year |
58,938 |
56,558 |
556,019 |
|
| Cash and cash equivalents at end of the year |
¥58,993 |
¥58,938 |
$556,538 |
|
| The accompanying notes are an integral
part of these statements. |
|
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