CONSOLIDATED STATEMENT OF CASH FLOWSHamamatsu Photonics K.K. and Consolidated SubsidiariesYear ended September 30, 2017Millions ofJapanese YenThousands ofU.S. Dollars (Note 1)2016201720162017Cash ows from operating activities:Prot before income taxes¥20,080¥23,570$ 177,705 $ 208,588 Depreciation10,54710,04393,343 88,882 Increase (decrease) in allowance for doubtful accounts65 (45)579(398)Increase (decrease) in provision for bonuses189 911 1,677 8,069 Increase (decrease) in net dened benet liability2 468 22 4,148 Interest and dividend income(278)(253)(2,462)(2,242)Interest expenses97 121866 1,077 Foreign exchange losses (gains)59 (26)524(235)Share of (prot) loss of entities accounted for using equity method(57)(102)(506)(907)Loss on retirement of property, plant and equipment71 484633 4,287Loss (gain) on sales of property, plant and equipment(27)(13)(242)(123)Decrease (increase) in notes and accounts receivable-trade(1,669)(4,106)(14,773)(36,340)Decrease (increase) in inventories(2,369)(563)(20,965)(4,985)Increase (decrease) in notes and accounts payable-trade2,408 (994)21,313(8,803)Other, net812 1,193 7,19410,565Subtotal29,934 30,688 264,910 271,583 Interest and dividend income received280 247 2,479 2,193 Interest expenses paid(97)(121)(866)(1,077)Income taxes (paid) refund(5,956)(4,660)(52,713)(41,242)Net cash provided by operating activities24,160 26,154 213,809 231,457 Cash ows from investing activities:Net decrease (increase) in time deposits14,936 590 132,183 5,222 Purchase of securities(1,000)-(8,849)-Proceeds from sales of securities-1,000-8,849Purchase of property, plant and equipment(9,144)(13,773)(80,921)(121,886)Proceeds from sales of property, plant and equipment47 31 419 276 Purchase of intangible assets(424)(741)(3,760)(6,565)Other, net(228)(305)(2,020)(2,699)Net cash provided by (used in) investing activities4,186 (13,198)37,051 (116,802)Cash ows from nancing activities:Net increase (decrease) in short-term loans payable419 (29)3,712(258)Proceeds from long-term loans payable3,261 38 28,858339 Repayments of long-term loans payable(3,178)(224)(28,128)(1,983)Purchase of treasury shares(10,000)(0)(88,497)(3)Cash dividends paid(5,798)(5,359)(51,310)(47,431)Other, net(117)(132)(1,036)(1,168)Net cash used in nancing activities(15,413)(5,707)(136,401)(50,505)Effect of exchange rate change on cash and cash equivalents(4,894)2,541 (43,312)22,489 Net increase (decrease) in cash and cash equivalents8,039 9,790 71,147 86,638 Cash and cash equivalents at beginning of period45,556 53,595 403,151 474,299 Cash and cash equivalents at end of period (Note 4)¥53,595¥63,385$ 474,299 $ 560,937 See Notes to Consolidated Financial Statements.19Annual Report 2017


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