| 2022/6 | 2023/6 |
Cash flows from operating activities | | |
Profit (loss) before income taxes | -342,479 | 615,104 |
Depreciation | 61,064 | 68,053 |
Loss (gain) on valuation of investment securities | 6,597 | 11,159 |
Amortization of goodwill | 70,762 | 74,126 |
Increase (decrease) in allowance for doubtful accounts | - | 152 |
Interest and dividend income | -86 | -79 |
Interest expenses | 6,949 | 14,866 |
Decrease (increase) in trade receivables | -399,100 | -140,455 |
Decrease (increase) in inventories | -62,769 | -137,248 |
Decrease (increase) in prepaid expenses | -15,499 | -20,945 |
Increase (decrease) in trade payables | 58,003 | 58,447 |
Loss (gain) on sale of investment securities | - | -345,600 |
Loss (gain) on sale of non-current assets | - | -2,124 |
Loss on retirement of non-current assets | 6,641 | 0 |
Subsidy income | -6,746 | -3,258 |
Increase (decrease) in accounts payable - other | 75,110 | 16,299 |
Increase (decrease) in accrued expenses | 35,489 | 128,860 |
Increase (decrease) in accrued consumption taxes | 35,831 | 34,894 |
Decrease (increase) in consumption taxes refund receivable | -73,986 | 76,978 |
Commitmentline expense | 21,748 | 27,671 |
Loss (gain) on valuation of derivatives | - | -219,900 |
Other, net | 70,414 | 13,306 |
Subtotal | -452,054 | 270,309 |
Interest and dividends received | 86 | 79 |
Interest paid | -6,949 | -14,866 |
Income taxes paid | -21,776 | -65,833 |
Income taxes refund | 79,345 | 0 |
Subsidies received | 6,746 | 3,258 |
Net cash provided by (used in) operating activities | -394,601 | 192,948 |
Cash flows from investing activities | | |
Purchase of property, plant and equipment | -55,651 | -34,337 |
Proceeds from sale of property, plant and equipment | - | 2,124 |
Proceeds from sale of investment securities | - | 345,600 |
Purchase of intangible assets | -33,170 | - |
Payments of leasehold and guarantee deposits | -62,533 | -211,665 |
Payments for acquisition of businesses | -125,299 | - |
Purchase of investment securities | - | -15,000 |
Proceeds from refund of leasehold and guarantee deposits | 3,177 | 4,047 |
Other, net | -1,326 | -3,590 |
Net cash provided by (used in) investing activities | -274,802 | 87,176 |
Cash flows from financing activities | | |
Proceeds from issuance of shares resulting from exercise of share acquisition rights | 2,491 | 10,693 |
Arrangement fees and others paid | -22,382 | -27,704 |
Proceeds from short-term borrowings | 1,700,000 | 8,002,000 |
Repayments of short-term borrowings | -900,000 | -7,302,000 |
Repayments of long-term borrowings | -631,619 | -247,656 |
Repayments of lease liabilities | -18,622 | -13,766 |
Other, net | - | -52 |
Net cash provided by (used in) financing activities | 129,867 | 421,514 |
Effect of exchange rate change on cash and cash equivalents | 12,008 | 259 |
Net increase (decrease) in cash and cash equivalents | -527,528 | 701,899 |
Cash and cash equivalents at beginning of period | 1,469,224 | 941,696 |
Cash and cash equivalents at end of period | 941,696 | 1,643,596 |