Epson 2016 Annual Report Download - page 25

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24
(2) Cash Flow Performance
Net cash provided by operating activities during the year was ¥113.0 billion, compared to ¥108.8 billion in the
previous fiscal year. While recording ¥46.0 billion in profit for the period, net cash was positively affected by
factors such as the recording ¥45.9 billion in depreciation and amortization and the difference of ¥45.4 billion in
income taxes recorded and ¥20.7 billion in income taxes paid.
Net cash used in investing activities totaled ¥51.5 billion compared to ¥32.7 billion in the previous fiscal year.
Epson used ¥66.1 billion in the acquisition of property, plant and equipment and intangible assets. Proceeds
from sales of investment property provided ¥13.9 billion in cash.
Net cash used in financing activities totaled ¥67.1 billion compared to ¥55.3 billion in the previous fiscal year.
Epson recorded a ¥40.0 billion redemption of bonds issued and ¥25.0 billion in dividends paid.
As a result, cash and cash equivalents at the end of the fiscal year totaled ¥230.4 billion compared to ¥245.3
billion at the end of the previous fiscal year.
(3) Parallel disclosure
Differences between the main items on IFRS consolidated financial statements and those on consolidated
financial statements prepared based on Japanese accounting standards
(Expenses associated with post-employment benefits)
Under Japanese accounting standards, Epson wrote off actuarial gains and losses and past service costs over a
certain period of time. Under IFRS, remeasurements of net defined benefit liabilities (assets) are recognized in
full as other comprehensive income in the period in which they are incurred and transferred to retained earnings
immediately. Past service costs are recognized as a net loss either in the period when the plan is amended or
curtailed, or in the period when associated restructuring costs or termination benefits are recognized, whichever
is earlier. Since actuarial assumptions for defined benefit liabilities differ, retirement benefit costs are
additionally recognized.
Due to these effects, the cost of sales and selling, general and administrative expenses, and finance costs in the
previous fiscal year increased by ¥6.2 billion when calculated based on IFRS rather than Japanese standards,
while other operating income increased by ¥30.0 billion and other comprehensive income decreased by ¥1.5
billion. The cost of sales, selling, general and administrative expenses, and finance costs in the fiscal year
increased by ¥3.8 billion, while other comprehensive income decreased by ¥22.1 billion.
*Please refer to the following for Epson’s financial results for previous fiscal years:
http://global.epson.com/IR/