Mazda 2009 Annual Report Download - page 46

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Financial Position
Total assets as of March 31, 2009, stood at ¥1,801.0 billion, which was ¥184.6 billion lower than at the previous
year-end as a result of reductions in inventories and trade receivables. Cash and cash equivalents (“cash”)
decreased ¥3.2 billion, to ¥220.7 billion. Inventories were reduced by ¥73.3 billion, to ¥214.4 billion. Net
property, plant and equipment decreased ¥21.0 billion, to ¥877.4 billion.
The total short- and long-term interest-bearing debt grew ¥248.4 billion, to ¥753.4 billion. Net interest-bearing
debt, which deducts the ¥220.7 billion in cash as of the fiscal year-end, increased ¥251.5 billion, to ¥532.6
billion, thereby resulting in a 78 percentage point rise in the net debt-to-equity ratio, to 129%.
Equity as of the fiscal year-end decreased ¥139.4 billion from the previous year-end, to ¥414.7 billion. Equity
per share decreased ¥76.84 (19.6%), to ¥314.98, from ¥391.82 at the end of the previous year. Equity—calcu-
lated as net assets less minority interests and stock acquisition rights—stood at ¥413.1 billion, for a 4.9
percentage point decline in the equity ratio, to 22.9%.
Cash Flows
Cash and cash equivalents (“cash”) as of March 31, 2009, totaled ¥220.7 billion, which was ¥3.2 billion less than
at the previous fiscal year-end. Although financing activities generated ¥137.0 billion in net cash, operating
activities and investing activities used cash in the amount of ¥67.4 billion and ¥61.8 billion, respectively.
(Cash Flow from Operating Activities)
Operating activities during the year used net cash in the amount of ¥67.4 billion. Loss before income taxes was
¥51.3 billion, while depreciation and amortization was ¥75.2 billion. However, accompanying reduced production
and other factors, decrease in trade notes and accounts payable was ¥158.7 billion, and income taxes paid was
¥30.3 billion.
(Cash Flow from Investing Activities)
Investing activities used net cash in the amount of ¥61.8 billion, the main component of which was ¥49.0 billion
of capital expenditures for the acquisition of plant and equipment.
(Cash Flow from Financing Activities)
Financing activities generated net cash of ¥137.0 billion. The Company procured funds through long-term
borrowing while repaying interest-bearing debt and acquiring treasury stock.
1,767.8 1,788.7
1,907.8 1,985.6
275.8
407.2 479.9 554.2
1,801.0
414.7
Total assets (Billions of yen)
Equity (Billions of yen)
)'', )''- )''. )''/ )''0
(As of March 31)
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528.1
455.4 474.7 505.0
313.5
246.8 232.2
281.1
753.4
532.6
Financial debt (Billions of yen)
Net financial debt (Billions of yen)
)'', )''- )''. )''/ )''0
(As of March 31)
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Management’s Discussion and Analysis
44                       