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ISUZU MOTORS LIMITED ANNUAL REPORT 2002
15
Total Assets
(Millions of Yen)
Shareholders’ Equity
(Millions of Yen)
Financial Position
Total consolidated assets as of March 31, 2002 stood at ¥1,324,144 million, a decrease of ¥567,347 million from a year
earlier. This reduction reflects the streamlining of inventories, efforts to accelerate recovery of trade receivables and
the sale of property, plant and equipment. Total current assets declined by ¥262,757 million to ¥548,941 million, reflecting
a drop in the balance of cash and cash equivalents, notes and accounts receivable and inventories. Property, plant and
equipment fell by ¥219,963 million to ¥551,179 million and investments and advances declined by ¥82,312 million. As
a result, fixed assets were ¥775,202 million, ¥304,590 million lower than a year ago.
Notes and accounts payable fell ¥65,246 million from a year earlier. Bank loans and commercial paper also decreased
¥99,128 million and ¥50,000 million, respectively. Consequently, total current liabilities dropped by ¥305,739 million to
¥872,141 million. Long-term liabilities were ¥387,236 million, a decline of ¥227,707 million. This was attributable to the
redemption of bonds and the repayment of loans as the company took steps to reduce interest-bearing debt. As of
March 31, 2002, interest-bearing debt was ¥738,734 million, down ¥329,474 million from a year ago.
Consolidated shareholders’ equity fell by ¥33,024 million to ¥61,084 million. This reflected an increase in the accu-
mulated deficit due to the net loss recorded for the year. The equity ratio thus declined from 5.0% to 4.6%.
Cash Flows
Net cash provided by operating activities increased by ¥24,184 million to ¥55,179 million due to the improvement in
the company’s net loss, the collection of trade receivables and the reduction of inventories.
Investing activities provided net cash of ¥6,283 million, a turnaround of ¥114,068 million from the previous fiscal
year. This mainly reflected the reduction in payments for leased property, and proceeds from sales of property, plant
and equipment.
Net cash used in financing activities was ¥123,530 million, compared with ¥52,788 million in net cash provided in
fiscal 2001. Cash was mainly used for repayment of debt and commercial paper and the redemption of bonds.
As a result of the above, cash and cash equivalents as of March 31, 2002 stood at ¥72,284 million, down ¥65,079
million from a year ago.
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