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Financial Information:
Annual Report 2005
 |
|
Consolidated
Statements of Cash Flows |
| NSK Ltd. and Subsidiaries |
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|
|
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|
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| |
Millions of yen |
Thousands of
U.S. dollars
(Note 2) |
|
| Year ended March 31, |
2005 |
2004 |
2005 |
|
| |
| Operating activities |
| |
Income before income taxes and minority interests |
¥35,031 |
¥26,451 |
$327,393 |
| Depreciation and amortization |
27,435 |
26,909 |
256,402 |
| Provision for retirement benefits |
(16,849) |
1,375 |
(157,467) |
| Amortization of excess of cost over net assets
acquired |
570 |
427 |
5,327 |
| Interest expense |
5,005 |
6,058 |
46,776 |
| Loss on devaluation of investment securities |
81 |
- |
757 |
| Gain on sales of investment securities |
(1,304) |
(7,663) |
(12,187) |
| Increase in notes and accounts receivable |
10,280 |
(12,863) |
96,075 |
| Decrease in inventories |
(5,171) |
5,658 |
(48,327) |
| Increase in notes and accounts payable |
13,776 |
1,216 |
128,748 |
| Other, net |
4,836 |
3,078 |
45,196 |
|
| |
Subtotal |
73,692 |
50,648 |
688,710 |
| Interest paid |
(5,147) |
(6,185) |
(48,103) |
| Income taxes paid |
(10,557) |
(6,573) |
(98,664) |
|
| Net cash provided by operating activities |
57,987 |
37,889 |
541,935 |
|
| |
| Investing activities |
| |
Additions to property, plant and equipment |
(33,741) |
(21,646) |
(315,336) |
| Proceeds from sales of property, plant and equipment |
1,854 |
3,376 |
17,327 |
| Increase in investments in affiliated companies |
- |
(589) |
- |
| Decrease in investments in affiliated companies |
- |
133 |
- |
Acquisition of subsidiaries’ stock resulting
in changes in
scope of consolidation (Note 17) |
- |
(9,339) |
- |
Net cash outflows from sales of subsidiaries’ stock
resulting in
changes in scope of consolidation (Note 17) |
(895) |
(355) |
(8,364) |
Proceeds from sales of subsidiaries’ stock
resulting in changes in
scope of consolidation |
24 |
- |
224 |
| Decrease in investment securities |
2,073 |
12,380 |
19,374 |
| Other, net |
(952) |
(918) |
(8,897) |
|
| Net cash used in investing activities |
(31,638) |
(16,958) |
(295,682) |
|
| |
| Financing activities |
| |
Decrease in short-term debt |
(12,306) |
(8,878) |
(115,009) |
| Proceeds from issuance of bonds |
10,000 |
- |
93,458 |
| Payments of bonds |
(36,989) |
(10,000) |
(345,692) |
| Increase in long-term debt |
(1,261) |
996 |
(11,785) |
| Cash dividends paid |
(5,126) |
(2,698) |
(47,907) |
| Acquisition of NSK treasury stock |
(58) |
(17) |
(542) |
| Other, net |
(388) |
(132) |
(3,626) |
|
| Net cash used in financing activities |
(46,129) |
(20,730) |
(431,112) |
|
| |
| Effect of exchange rate changes on cash and cash
equivalents |
175 |
(145) |
1,636 |
|
| Net (decrease) increase in cash and cash equivalents |
(19,605) |
54 |
(183,224) |
| Cash and cash equivalents at beginning of the year |
58,993 |
58,938 |
551,336 |
|
| Cash and cash equivalents at end of the year |
¥39,387 |
¥58,993 |
$368,103 |
|
| The accompanying notes are an integral
part of these statements. |
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