Pentax 2014 Annual Report Download - page 22

HOYA REPORT 2014
Cash Flow Cash and cash equivalents at the end of fiscal 2014 increased by ¥82,198 million from the
end of the previous year to ¥331,094 million, including the effects of exchange rate changes
of ¥28,204 million.
Net cash provided by operating activities amounted to ¥102,670 million, an increase of
¥13,680 million from the end of the previous year. This was mainly attributable to profit
before tax from continuing operations of ¥85,486 million (down ¥5,718 million year-on-year),
depreciation and amortization of ¥33,891 million (up ¥3,019 million), and decrease in
inventories of ¥11,785 million (down ¥6,755 million), which were partly offset by factors such
as an increase in trade and other receivables of ¥4,548 million (up ¥3,669 million) and a
decrease of trade and other payables of ¥2,171 million (down ¥5,521 million).
Net cash used in investing activities amounted to ¥20,882 million, an increase of ¥19,934
million in capital outflow compared with the end of the previous year. The capital inflow
stemmed from proceeds from sales of property, plant and equipment of ¥950 million (down
¥6,623 million) and other factors, while the capital outflow included payments for acquisition
of property, plant and equipment of ¥16,546 million (down ¥26,504 million) and net cash
outflow on acquisition of subsidiary of ¥6,390 million (down ¥3,737 million).
Net cash used in financing activities amounted to ¥27,794 million, a decrease of ¥41,203
million from the end of the previous year. This was mainly due to ¥28,101 million in dividends
paid (up ¥29 million).
Capital Expenditures /
Depreciation
and Amortization
The total capital expenditures of all operations of the HOYA Group amounted to 16,838
million yen during the consolidated fiscal year under review, a decrease of 28,173 million
yen over the preceding consolidated fiscal year.
In the consolidated fiscal year under review, investment in the Information Technology
business amounted to 8,735 million yen and investment in the Life Care business
amounted to 7,834 million yen, which account for 51.9% and 46.5%, respectively, of the
total capital expenditures by the Group.
The investment was covered by internally generated funds.
Capital investment was made in the consolidated fiscal year under review in the
Information Technology business to heighten the efficiency of the production system
and to improve productivity so that changes in the market environment can be dealt
with swiftly. Capital investment was also conducted to diversify production bases, a
need that was keenly felt following the Great East Japan Earthquake of March 2011,
and to heighten competitiveness in cutting-edge areas. As for the Life Care business,
and in particular the eyeglass lenses business, investment to reinforce capabilities at
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