Mazda 2010 Annual Report Download - page 46

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Financial Position
Total assets as of March 31, 2010, stood at ¥1,947.8 billion,
which was ¥146.8 billion higher than at the previous year-
end, on an increase in cash and deposits associated with
the capital increase.
Cash and cash equivalents increased ¥125.6 billion, to
¥346.3 billion. Inventories were reduced ¥3.5 billion, to
¥210.9 billion. Net property, plant and equipment decreased
¥51.8 billion, to ¥825.6 billion.
Total short- and long-term interest-bearing debt
decreased ¥31.2 billion, to ¥722.1 billion, on reduced
borrowing from an improvement in working capital. After
deducting the ¥346.3 billion year-end balance of cash and
cash equivalents from interest-bearing debt, net interest-
bearing debt decreased ¥156.8 billion, to ¥375.8 billion,
resulting in a 55 percentage point improvement in the net
debt-to-equity ratio, to 74%. Total liabilities as of the fiscal
year-end grew ¥51.7 billion, to ¥1,438.0 billion, on an
increase in trade notes and accounts payable associated
with a recovery in production volumes.
Equity as of the fiscal year-end increased ¥95.1 billion
from the previous year-end, to ¥509.8 billion, with increases
in common stock and the capital surplus from the issue of
new shares, and by a decrease in treasury stock through
re-issuance. Equity per share decreased ¥28.06, to
¥286.92, from ¥314.98 at the end of the previous year.
Equity used for the calculation of equity ratio (i.e., total
equity less minority interests and stock acquisition rights)
grew ¥94.8 billion, to ¥507.9 billion, for a 3.2 percentage
point rise in the equity ratio, to 26.1%.

Cash and cash equivalents as of March 31, 2010, totaled
¥346.3 billion, for an increase of ¥125.6 billion from the
previous fiscal year-end, primarily due to the following
factors. Although investing activities used cash in the
amount of ¥44.3 billion, operating activities generated cash
in the amount of ¥111.6 billion and financing activities
generated ¥61.0 billion, from the issue of new shares and
re-issuance of treasury stock shares in addition to funds
procured via long-term borrowings.
(Cash Flow from Operating Activities)
Operating activities during the year generated net cash in
the amount of ¥111.6 billion. The loss before income taxes
was ¥7.3 billion, while depreciation and amortization was
¥76.4 billion. Working capital improved on a recovery in
domestic plant capacity utilization.
(Cash Flow from Investing Activities)
Investing activities used net cash in the amount of ¥44.3
billion, the main components of which were ¥20.7 billion of
capital expenditures for the acquisition of plant and
equipment and ¥20.0 billion in outlays for the purchase of
short-term investments.
407.2
22.3
24.8 27.8
22.9
26.1
479.9 554.2
1,788.7 1,907.8 1,985.6
414.7
1,801.0
509.8
1,947.8
Equity (Billions of yen)
Total assets (Billions of yen)
Equity ratio (%)
)''- )''. )''/ )''0 )'('
(As of March 31)
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246.8 232.2
281.1
455.4 474.7 505.0 532.6
753.4 722.1
375.8
Financial debt (Billions of yen)
Net financial debt (Billions of yen)
)''- )''. )''/ )''0 )'('
(As of March 31)
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