Fact Book 2003(Year ended March 31, 2003)

Consolidated Statements of Cash Flows

Millions of yen

2000.03 2001.03 2002.03 2003.03 Operating Activities: 　 Income before income taxes and minority interests 47,196 -9,880 60,309 105,197 　 Depreciation 82,342 82,651 80,239 86,350 　 (Decrease)Increase in allowance for retirement benefits - 75,224 602 -60,276 　 Interest and dividend income -2,470 -3,381 -2,444 -2,030 　 Interest expenses 2,606 2,979 2,559 2,634 　 Loss on sale or disposal of property, plant and equipment, net 2,960 2,795 2,506 3,303 　 Decrease/(Increase)in notes and accounts receivable 4,755 -18,076 -10,016 -23,934 　 (Increase)/Decrease in inventories -2,760 -8,856 26 -24,901 　 Increase/(Decrease)in notes and accounts payable -1,031 7,202 4,515 32,102 　 Other, net -862 20,372 -5,539 40,684 　 Sub total 132,736 151,030 132,757 159,129 　 Interest and dividends received 2,487 3,361 2,779 2,482 　 Interest paid -2,585 -3,011 -2,636 -2,675 　 Payment of income taxes -24,719 -27,860 -33,309 -29,869 　 Net cash provided by operating activities 107,919 123,520 99,591 129,067 　 2000.03 2001.03 2002.03 2003.03 Investing Activities: 　 Net (increase) decrease in time deposits and short-term investments -13,843 -797 12,264 213 　 Acquisitions of property,plant and equipment -84,750 -80,853 -81,259 -115,355 　 Proceeds from sales of property,plant and equipment 1,287 1,064 2,232 3,484 　 Purchase of investment securities -19,372 -8,762 -22,727 -5,125 　 Payments for purchase of shares of consolidated company accompanied by change of scope of consolidation - - -1,815 -2,878 　 Proceeds of sales of investment in securities 14,135 6,759 3,845 469 　 Proceeds of redemption at maturity of investments in securities - - 8,315 9,641 　 Other, net 463 -260 -645 -4,227 　 Net cash used in investing activities -102,080 -82,849 -79,790 -113,778 　 2000.03 2001.03 2002.03 2003.03 Financing Activies: 　 Net(decrease)/increase in short-term borrowings -20,885 -5,032 7,336 -7,061 　 Increase in long-term debt 4,700 3,196 2,461 44,534 　 Repayments of long-term debt -4,892 -11,532 -28,587 -4,603 　 Increase in long-term bonds 15,000 - - - 　 Repayments of long-term bonds - - - -15,000 　 Receipt from minority shareholders - 56 3,343 4,500 　 Cash dividends -3,074 -3,352 -3,492 -3,852 　 Cash dividends to minority shareholders -1,004 -1,296 -1,123 -2,919 　 Purchase of treasury stock - -10 -11 -26,885 　 Other,net -16 -10 1 -1 　 Net cash used in financing activities -10,171 -17,980 -20,072 -11,287 Foreign currency translation adjustments on cash and cash equivalents -1,826 1,877 3,739 -2,023 Net (decrease)/Increase in cash and cash equivalents -6,158 24,568 3,468 1,979 Cash and cash equivalents at beginning of period 62,523 76,128 106,012 109,480 Increase in cash and cash equivalents upon change of fiscal term of consolidated subsidiary - - - 273 Cash and cash equivalents of newly consolidated subsidiaries 19,763 5,316 - - Cash and cash equivalents at end of period 76,128 106,012 109,480 111,732

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