| 2023/3 | 2024/3 |
Cash flows from operating activities | | |
Profit before income taxes | 438,376 | 3,121,647 |
Depreciation | 195,569 | 191,466 |
Impairment losses | 16,302 | - |
Increase (decrease) in provision for bonuses | 6,562 | 69,634 |
Increase (decrease) in allowance for doubtful accounts | -1,652 | 55,474 |
Increase (decrease) in provision for product warranties | -7,650 | -970 |
Increase (decrease) in provision for loss on construction contracts | 36,124 | 23,366 |
Interest and dividend income | -36,928 | -49,729 |
Subsidy income | -4,439 | - |
Interest expenses | 1,421 | 7,509 |
Office relocation expenses | - | 21,046 |
Retirement benefits for directors (and other officers) | 36,681 | - |
Loss (gain) on sale of investment securities | - | -1,653,641 |
Loss (gain) on sale of non-current assets | - | -2,847 |
Loss on retirement of non-current assets | 838 | 210 |
Decrease (increase) in accounts receivable - trade, and contract assets | 758,238 | -687,758 |
Decrease (increase) in inventories | -552,472 | 10,721 |
Decrease (increase) in accounts receivable - other | -7,306 | 7,217 |
Decrease (increase) in advance payments to suppliers | 63,826 | -34,905 |
Increase (decrease) in trade payables | 63,824 | 335,936 |
Increase/decrease in consumption taxes payable/consumption taxes refund receivable | -45,399 | 24,932 |
Increase (decrease) in accounts payable - other | -22,183 | 48,002 |
Increase (decrease) in contract liabilities | 64,518 | 1,127,091 |
Other, net | -24,068 | -134,188 |
Subtotal | 980,184 | 2,480,217 |
Interest and dividends received | 36,928 | 49,729 |
Interest paid | -1,419 | -7,521 |
Subsidies received | 4,439 | - |
Payments of relocation expenses | - | -16,812 |
Payments of retirement benefits for directors (and other officers) | -70,875 | - |
Income taxes paid | -377,325 | -105,948 |
Income taxes refund | 17,891 | 133,231 |
Net cash provided by (used in) operating activities | 589,823 | 2,532,895 |
Cash flows from investing activities | | |
Purchase of property, plant and equipment | -51,488 | -162,529 |
Proceeds from sale of property, plant and equipment | - | 2,918 |
Purchase of intangible assets | -3,468 | -25,454 |
Proceeds from sale of investment securities | - | 1,653,641 |
Other, net | -8,338 | -60,680 |
Net cash provided by (used in) investing activities | -63,295 | 1,407,895 |
Cash flows from financing activities | | |
Net increase (decrease) in short-term borrowings | - | 100,000 |
Repayments of long-term borrowings | -19,814 | -107,752 |
Repayments of lease liabilities | -1,593 | -5,382 |
Dividends paid | -145,059 | -145,154 |
Net cash provided by (used in) financing activities | -166,467 | -158,289 |
Effect of exchange rate change on cash and cash equivalents | -2,538 | 8,918 |
Net increase (decrease) in cash and cash equivalents | 357,522 | 3,791,420 |
Cash and cash equivalents at beginning of period | 7,851,015 | 8,208,538 |
Cash and cash equivalents at end of period | 8,208,538 | 11,999,958 |