Wacom 2005 Annual Report Download - page 19

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18
services for corporate clients and to promote greater operational
efficiencies.
EH I sales grew to ¥32 million, or U .S. $0.3 million (up 82.7% year-
on-year), and operating loss decreased to ¥71 million, or U.S. $0.7
million (from operating loss of ¥114 million for the previous fiscal
year).
Financial Position
Financial conditions
At the end of the fiscal year under review, consolidated cash and
cash equivalents increased by ¥ 552 million, or U.S. $5 million,
compared to an increase of ¥ 611 million, or U.S. $6 million, for
the previous year, to ¥4,233 million, or U.S. $39 million (up 15.0%
year-on-year), while income before taxes grew to ¥1,717 million,
or U .S. $16 million (up 51.9% year-on-year).
Cash flows from operating activities
N et cash provided by operating activities amounted to ¥1,162
million, or U.S. $11 million (up 8.8% year-on-year), due primarily
to strong income before taxes of ¥1,717 million, or U .S. $16
million, an increase of ¥850 million, or U.S. $8 million, in notes and
accounts payable, depreciation of ¥257 million, or U.S. $2 million,
and amortization of software amounting to ¥117 million, or U.S.
$1 million, despite a payment of ¥433 million, or U.S. $4 million,
for litigation settlement and a payment of ¥ 525 million, or U.S. $5
million, for income taxes.
Cash flows from investing activities
N et cash used in investing activities amounted to ¥24 million, or
U.S. $0.2 million (down 80.7% year-on-year), due primarily to
proceeds of ¥141 million, or U.S. $1 million, from the refund of
time deposits (down 18.7% year-on-year) in spite of payments of
¥198 million, or U.S. $2 million (up 100.9% year-on-year), for
purchases of fixed assets.
Cash flows from financing activities
N et cash used in financing activities amounted to ¥723 million, or
U.S. $7 million (up 457.7% year-on-year), mainly as the combined
result of a net decrease of ¥200 million, or U.S. $2 million, in short-
term borrowings (as compared to a net increase of ¥140 million,
or U .S. $1 million, for the previous fiscal year), the expenditure of
¥188 million, or U.S. $2 million (up 117.5% year-on-year), for
payment of cash dividends and the expenditure of ¥324 million, or
U.S. $3 million (down 47.0% year-on-year), for payment of long-
term debt.
(Millions of yen)
(Millions of yen)
(Millions of yen)
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
-500
0
500
1,000
1,500
2,000
-1,200
-1,000
-800
-600
-400
-200
0
’01
-258
’02
124
’03
1,774
’05
1,162
’04
1,069
’01
-207
’02
-153
’03
-1,039
’05
-723
’04
-130
-400
-300
-200
-100
0
’01
-390
’02
-232
’03
-184
’05
-24
’04
-125
W acom Co., Ltd. Annual Report 2005