Brother International 2008 Annual Report Download - page 13

11Brother Annual Report 2008
Cash Flow Statement
We obtained ¥58,215 million in cash and cash equivalents (funds) from operating activities in the current
consolidated fiscal year. On the other hand, we spent ¥29,318 million on investing activities and ¥6,973
million on financing activities. As a result, our fund balance at the end of the current consolidated fiscal
year totaled ¥83,219 million, a net increase of ¥12,842 million compared with the balance at the end of
the previous consolidated fiscal year.
A summary of cash flows and their major factors for the current consolidated fiscal year are present-
ed as follows.
1) Cash Flow from Operating Activities
Net income before income taxes and minority interests was ¥46,282 million. In addition to adjustment
for nonfund gains and losses, including ¥22,227 million of depreciation and amortization, there were
changes in the funds due to a ¥5,360 million decrease in trade notes and accounts receivable, and a
¥4,295 million increase in inventory. After deducting ¥18,037 million for income taxes paid, the cash
flow from operating activities resulted in a fund increase of ¥58,215 million.
2) Cash Flow from Investing Activities
Due to ¥22,304 million of disbursement for acquisition of tangible fixed assets and ¥5,907 million of dis-
bursement for acquisition of intangible fixed assets, the cash flow from investing activities resulted in a
fund decrease of ¥29,318 million.
3) Cash Flow from Financing Activities
Due to ¥6,789 million in payments of dividends including minority interest portion and other factors, the
cash flow from financing activities resulted in a fund decrease of ¥6,973 million.
Outlook for Fiscal Year ending March 2009
As for the economic circumstances for the next period, we currently see decelerating trends mainly in
the U.S., and an increasing sense of uncertainty for economic prospects.
In the full-year forecast for the fiscal year ending March 2009, under such an economic environment,
we expect to increase net sales compared with the fiscal year ended March 2008, mainly due to sales
increases in the laser and inkjet business of communications and printing equipment, in spite of the
negative impact of the foreign exchange rate. As to profits, both operating income and ordinary
income are anticipated to decrease due to the negative impact of the foreign exchange rate and the
increase in depreciation and selling, general and administrative expenses including R&D. We anticipate
that net income will increase because exchange losses for non-operating profits will decrease and there
will no longer be an influence from an increase in the income taxes-deferred for tax effect accounting
which affected the accounting for the fiscal year ended March 2008.
Total Assets
(¥ billion)
2006 2007 2008
Fiscal years ended March 31
0
100
200
300
400
500
348.2
399.1 392.3
Owners' Equity
Owners' Equity Ratio
(¥ billion)
Owners' Equity
(%)
Owners' Equity Ratio
2006 2007 2008
Fiscal years ended March 31
0
50
100
150
200
250
300
181.1
210.4 216.2
52.0 52.7 55.1
0
10
20
30
40
50
60