Omron 2009 Annual Report Download - page 59

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57
Assets
Total assets amounted to ¥538.3 billion in fiscal 2008,
representing a decrease of ¥79.1 billion, or 12.8%, from
the end of the previous fiscal year. The decline was
primarily due to booking impairment losses for goodwill
of ¥16.8 billion, property, plant and equipment of ¥21.2
billion, and investment securities of ¥5.4 billion along
with a ¥53.3 billion decrease in notes and accounts
receivable-trade associated with the drop in sales and a
¥10.4 billion decline in inventories.
Liabilities and Shareholders’ Equity
Current liabilities, long-term liabilities, and minority inter-
ests in subsidiaries amounted to ¥239.9 billion in fiscal
2008, a decline of ¥9.0 billion, or 3.6%, from the previous
fiscal year. Notes and accounts payable-trade declined
¥36.5 billion from the previous fiscal year, while an increase
in loans raised interest-bearing liabilities by ¥35.1 billion,
to ¥54.9 billion. Termination and retirement benefits
increased by ¥16.9 billion, or 26.6%, from the previous fis-
cal year.
Total shareholders’ equity amounted to ¥298.4 billion,
representing a ¥70.1 billion, or 19.0%, decrease from the
previous fiscal year in addition to a net loss of ¥29.2 billion,
primarily due to the strong yen and the differences from
securities revaluation.
As a result, the shareholders’ equity ratio decreased
4.3 percentage points to 55.4%, from 59.7% in the previ-
ous fiscal year, and the debt/equity ratio increased from
0.675 to 0.804 over the same period.
Net assets per share based on the number of shares
outstanding at the end of the fiscal year was ¥1,355.41,
compared to ¥1,662.32 at the end of the previous fiscal year.
Financial Condition
Cash Flow from Operating Activities
Cash flow from operating activities decreased by ¥37.6 bil-
lion from the previous year to ¥31.4 billion, primarily due
to the ¥29.2 billion net loss and the increase in the non-
expenditure item of depreciation and amortization from
booking impairment losses for goodwill and property, plant
and equipment.
Cash Flow from Investing Activities
Cash flow from investing activities saw a net outflow of
¥40.6 billion representing a ¥3.9 billion increase in outflow
from the previous fiscal year. The increase was largely due
to decreased proceeds from the sale of property and equip-
ment and this is despite limiting capital investment
spending below the original plan for the year.
Cash Flow from Financing Activities
Cash flow from financing activities saw a net inflow of
¥21.9 billion, representing a ¥56.3 billion increase from the
net outflow in the previous fiscal year. Inflow from the
increase in loans was larger than dividend payments and
other outflows.
Cash and cash equivalents at the end of the fiscal year amounted to ¥46.6 billion, a ¥6.0 billion increase from the end of the
previous year.
Cash Flow
Billions of yen %
Working Capital & Current Ratio
Working capital [left axis]
Current ratio [right axis]
0
50
100
150
200
100
130
160
190
220
04 05 0806 07 (FY)
Billions of yen %
Outstanding Interest-bearing Debt & Debt/Equity Ratio
Outstanding interest-bearing debt [left axis]
Debt/equity ratio [right axis]
0
15
30
45
60
0.0
0.5
1.0
1.5
2.0
03 04 080705 06 (FY)
Billions of yen
Free Cash Flow
-10
0
10
20
30
40
04 05 0806 07 (FY)