Sharp 2004 Annual Report Download - page 31

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Sharp Annual Report 2004 29
¥84,987 million, commercial paper decreased ¥22,513
million, to ¥82,234 million, and current portion of long-
term debt increased ¥19,987 million, to ¥48,227 million.
Notes and accounts payable were ¥558,119 million, an
increase of ¥153,641 million, and the ratio against monthly
turnover was 3.0 months.
Long-term liabilities were ¥248,798 million, a decrease of
¥26,656 million from the previous year. This was mainly
due to a decrease of ¥33,214 million in long-term debt,
which outweighed an increase of ¥5,863 million in
allowance for severance and pension benefits. The
decrease in long-term debt was primarily attributable to
the transfer of current portion of long-term debt to short-term
borrowings.
Interest-bearing debt decreased ¥60,182 million, to
¥441,223 million.
[Shareholders’ Equity]
Retained earnings increased ¥43,023 million over the
previous year, to ¥550,894 million, mainly due to the
increase in net income. Net unrealized holding gains on
securities increased ¥16,979 million due to higher stock
prices. Despite a loss of ¥19,509 million in foreign currency
translation adjustments during the fiscal year, total share-
holders’ equity increased ¥41,416 million over the previ-
ous year, to ¥943,532 million, while the equity ratio was
43.9%.
Cash Flows
Cash and cash equivalents at the end of the year were
¥277,623 million, an increase of ¥5,911 million over the
previous year, due to net cash provided by operating
activities, which compensated for the year’s capital invest-
ment and the reduction in interest-bearing debt.
Net cash provided by operating activities decreased
¥19,512 million, to ¥249,618 million, mainly as a result of an
increase of ¥59,708 million in income taxes paid, which
overrode an increase of ¥45,395 million in income before
income taxes and minority interests.
Net cash used in investing activities increased ¥3,613 mil-
lion, to ¥169,446 million, due mainly to an increase of
¥11,452 million in acquisitions of plant and equipment for the
Kameyama Plant and the Mie No. 3 Plant.
Net cash used in financing activities increased ¥11,114
million, to ¥68,961 million, primarily as a result of the
reduction in interest-bearing debt, including short-term
borrowings and commercial paper.
0
10
20
30
40
50
00 01 02 0403
46
.
6
43
.
9
47
.
147
.
1
45
.
0
650
700
750
800
850
900
950
1
,
000
00 01 02 0403
926
902
896
943 943
Percentage of
Shareholders’ Equity
Shareholders’ Equity
00 01 02 0403
476
441
438
519 501
0
100
200
300
400
500
600
Interest-Bearing Debt
00 01 02 0403
177
277
221 231
271
0
100
200
300
Cash and Cash
Equivalents
(billions of yen) (billions of yen) (billions of yen)(%)