Annual Report 2002 [PDF/1.6MB]

CONSOLIDATED STATEMENTS OF CASH FLOWSKawasho Corporation and Consolidated SubsidiariesFor the years ended March 31, 2002 and 2001Millions of Yen2002 2001Thousands of U.S.Dollars (Note 1)2002Cash flows from operating activities:Loss before income taxes and minority interests¥ (10,604)¥ (24,920)$ (79,580)Adjustments for:Depreciation and amortization11,63015,52987,280Amortization of consolidation difference128(34)961(Decrease) increase in allowance for doubtful receivables(7,973)19,737(59,835)Increase in other allowances1,0782,3568,090Interest and dividend income(1,913)(2,971)(14,356)Interest expense6,0898,43045,696Equity in earnings of unconsolidated subsidiaries and affiliates(183)(202)(1,373)Gain on donation(34,500)(258,912)Gain on sales of investment securities(394)(9,161)(2,957)Loss on sales of investment securities1077,731803Loss on sales of investments in a consolidatedsubsidiary and an affiliate13,28499,692Loss on devaluation of investment securities4,7022,78635,287Loss on devaluation of tangible assets11,48386,176Loss on devaluation of golf memberships1,5452,30611,595Lump-sum amortization of consolidation differences2,561Decrease in trade notes and accounts receivable54,74838,708410,867Decrease in inventories21,8441,717163,933Decrease in trade notes and accounts payable(50,036)(1,567)(375,505)(Decrease) increase in accrued consumption tax(40)1,262(300)Other, net7,132(13,557)53,523Subtotal28,12750,711211,085Interest and dividend income received2,4833,15518,634Interest expense paid(6,344)(8,073)(47,610)Donation received34,500258,912Income taxes paid(1,359)(819)(10,199)Net cash provided by operating activities57,40744,974430,822Cash flows from investing activities:Purchase of property and equipment(6,823)(10,618)(51,205)Proceeds from sales of property and equipment1,3711,96910,289Purchases of investment securities(1,316)(9,386)(9,876)Proceeds from sales of investment securities16,52312,282124,000Proceeds from sales of consolidated subsidiaries’ shares2,74620,608Increase in loans(2,453)(1,230)(18,409)Collection of loans3,9253,74229,456Other, net(608)(980)(4,563)Net cash provided by (used in) investing activities¥ 13,365¥ (4,221)$ 100,300See the accompanying Notes to Consolidated Financial Statements.34