Pioneer 2010 Annual Report Download - page 30

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Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2010 2009 2010
Operating Activities:
Loss before income taxes and minority interests ¥(49,530) ¥(99,939) $ (532,581)
Adjustments for:
Income taxes—paid (5,349) (9,115) (57,516)
Depreciation and amortization 39,303 43,187 422,613
Increase (decrease) in accrued pension and severance costs (3,804) 2,285 (40,903)
Loss (gain) on sale and disposal of property, plant and equipment—net (3,279) 1,895 (35,258)
Loss on impairment of property, plant and equipment 7,932 4,132 85,290
Gain on sale of investment securities—net (1,657) (11) (17,817)
Loss on impairment of investment securities 327 14,871 3,516
Changes in assets and liabilities:
Decrease (increase) in receivables (9,959) 27,213 (107,086)
Decrease in inventories 29,342 8,500 315,505
Increase (decrease) in trade payables 17,056 (40,536) 183,398
Decrease in accrued expenses (10,715) (12,258) (115,215)
Other—net (1,711) (1,787) (18,398)
Net cash provided by (used in) operating activities 7,956 (61,563) 85,548
Investing Activities:
Increase in time deposits (6,103) –(65,624)
Purchase of property, plant and equipment (23,802) (45,849) (255,935)
Proceeds from sale of property, plant and equipment 15,536 1,846 167,054
Proceeds from sale of investment securities 6,448 161 69,333
Proceeds from cancellation of insurance policy –5,515 –
Other—net (511) 35 (5,495)
Net cash used in investing activities (8,432) (38,292) (90,667)
Financing Activities:
Net increase (decrease) in short-term borrowings (95,028) 99,842 (1,021,806)
Increase in long-term debt 89,430 –961,613
Repayment of long-term debt (9,176) (13,064) (98,667)
Dividends paid –(513) –
Proceeds from issuance of new shares 34,732 –373,462
Proceed from minority shareholders 2,040 –21,935
Other—net (152) (432) (1,634)
Net cash provided by financing activities 21,846 85,833 234,903
Foreign Currency Translation Adjustments on Cash and Cash Equivalents (974) (3,412) (10,473)
Net Increase (Decrease) in Cash and Cash Equivalents 20,396 (17,434) 219,311
Cash and Cash Equivalents, Beginning of Year 63,746 81,180 685,441
Cash and Cash Equivalents, End of Year ¥ 84,142 ¥ 63,746 $ 904,752
See notes to consolidated financial statements.
Consolidated Statements of Cash Flows
Pioneer Corporation and Subsidiaries
Years ended March 31, 2010 and 2009
28
PIONEER CORPORATION Annual Report 2010