Olympus 2003 Annual Report Download - page 21
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Cash Flows
Cash and cash equivalents at the end of the year were largely
unchanged from the previous fiscal year, amounting to ¥,
million (US$ million). Net cash provided by operating activ-
ities increased ¥, million from the previous fiscal year, to
¥, million (US$ million), mainly due to an increase in
income before provision for income taxes and an increase in unpaid
expenses. Net cash used in investing activities rose ¥, million
to ¥, million (US$ million), mainly due to increases in
purchases of investment securities and purchases of property, plant
and equipment, despite an increase in withdrawals from time
deposits. Net cash used in financing activities decreased ¥,
million to ¥, million (US$ million), as proceeds from long-
term debt helped to compensate for the redemption of bonds.
Research & Development Expenditures
Olympus and its consolidated subsidiaries continued their research
and development. OPTO-Digital Technology was given first pri-
ority because of the expansion of the digital field. Total R&D
expenditures were ¥, million (US$ million), and account-
ed for .% of net sales.
Capital Expenditures
Total capital expenditures advanced .% to ¥, million
(US$ million), compared with ¥, million in the previous
fiscal year. Depreciation and amortization amounted to ¥,
million (US$ million).
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OLYMPUS 2003
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