Eisai Co., Ltd. Annual Report 2001 - Eisai GmbH

Investments and Other Assets
Total investments and other assets advanced 114.3%, or ¥72,814 million, to
¥136,527 million. This large increase was greatly influenced by a shift of
¥76,091 million in marketable securities from current assets at the beginning
of the year, due to the application of a new accounting standard for financial
instruments.
Liabilities
Total current liabilities amounted to ¥153,755 million, an increase of 58.7%, or
¥56,894 million, principally reflecting an increase in payables accompanying
the expansion of sales in the United States. Total long-term liabilities declined
¥9,263 million, or 18.6%, to ¥40,651 million, due to the shift of ¥10,000
million in bonds to be converted during the period from long-term liabilities to
current liabilities.
Total Shareholders’ Equity
Total shareholders’ equity rose 5.0%, or ¥16,510 million, to ¥345,896
million, as a result of an increase in net income, Net unrealized gains on
available-for-sale securities of ¥1,005 million and foreign currency translation
adjustments of negative ¥1,456 million, and the payment of dividends and
other factors. Accordingly, liabilities increased and the shareholders’ equity
ratio declined to 63.0% from 67.8% a year earlier.
CASH FLOWS
Operating Activities
Net cash provided by operating activities in the fiscal year ended March 31,
2001, amounted to ¥84,996 million, up ¥57,822 million from the previous
period. The key changes affecting cash flows from operating activities were
an increase in income before income taxes of ¥17,302 million, an adjustment
to the loss (net) from the retirement benefit trust of ¥13,745 million as
a noncash transaction and an increase in current liabilities such as accrued
expenses.
Investing Activities
Net cash used in investing activities totaled ¥19,552 million, mainly from
expenditures of ¥13,918 million for acquisitions of property, plant and
equipment and intangible fixed assets and purchases of short-term investments.
Purchases of short-term investments increased compared with the
previous period, principally as a result of the investment in debentures with
the cash provided by operating activities.
Financing Activities
Net cash used in financing activities totaled ¥17,713 million, largely resulting
from corporate bond repayment during the period of ¥10,000 million and
dividends paid totaling ¥6,373 million.
As a consequence of Eisai’s operating, investing and financing activities
during the period as well as the effect of exchange rate changes, cash and
cash equivalents as of March 31, 2001, totaled ¥106,338 million, up
¥53,782 million, from ¥52,556 million at the previous year-end.
Eisai Annual Report 2001
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