Sumitomo Heavy Industries, Ltd.
FIRST QUARTER CONSOLIDATED FINANCIAL REPORTFor the Three-Month Period from April 1 to June 30, 2018

All financial information has been prepared in accordance with generally accepted accounting principles in Japan. This document
has been translated from the Japanese original as a guide to non-Japanese investors and contains forward-looking statements thatare based on management’s estimates, assumptions, and projections at the time of publication. A number of factors could cause
actual results to differ materially from expectations. Amounts shown in this financial statement have been rounded to the nearest
million yen.

Consolidated Results for the First Quarter
Ended June 30, 2018

Summary of Consolidated Financial Results
For the First Quarter Ended June 30, 2018
Presented July 31, 2018

Sumitomo Heavy Industries, Ltd.
Listed exchanges

Tokyo Stock Exchange

Stock code

6302

Head officeTokyo

President

Shunsuke Betsukawa

URLwww.shi.co.jp

Inquiries

Michiko Watanabe
General Manager, Corporate Communications Dept.

Telephone+81 3 6737 2331

Scheduled reporting date for quarterly reportAugust 8, 2018

Scheduled date of payment of cash dividends－

Availability of supplementary explanations forquarterly financial statement
Holding of meeting to explain quarterly
financial statement

None
None

1. FY 2018 First Quarter Consolidated Results (April 1, 2018, to June 30, 2018)(1) Business Results(Units: millions of yen)First Quarter
April 1 to June 30, 2018

Previous First Quarter
April 1 to June 30, 2017

% change% change

Net sales

202,67821.2

167,299

9.8

Operating income

17,21445.3

11,85052.2

Ordinary income

17,04438.5

12,310

72.4

26.3

8,606

68.7

Net income attributed to shareholders of the parent
10,871company
Note: Comprehensive income
Fiscal quarter ended June 30, 2018: 4,406 million yen, (25.1) %Fiscal quarter ended June 30, 2017: 5,882 million yen), ―%First Quarter
April 1 to June 30, 2018
88.71

Net income per share (yen)Previous First Quarter
April 1 to June 30, 2017
70.22

－
－
Fully diluted net income per share (yen)(Note) The Company carried out a 5-to-1 reverse stock split for its common shares with an effective date of October 1,
2017. The quarterly net income per share was calculated, under the assumption that such share consolidation was
conducted at the beginning of the previous consolidated fiscal year.

2Consolidated Results for the First Quarter
Ended June 30, 2018

(2) Financial Position(Units: millions of yen)
End of First Quarter
As of June 30, 2018

End of Previous Full YearAs of March 31, 2018

Total assets

905,618

894,835

Total net assets

443,296444,964

Equity ratio (%)

47.4

48.2

Reference: Equity
Fiscal quarter ended June 30, 2018: 429,250 million yen
Fiscal year ended March 31, 2017: 431,008 million yen

2. Dividends(Units: yen)
Year Ended March 31,
2018Year Ending March 31,
2019Year Ending March 31,
2019 (forecast)

Annual dividends per share－First quarter

－

8.00

Second quarter

46.00

Third quarter－－End of term

45.00

47.00

－

93.00

Annual dividends
Note 1: Changes from the most recent dividend forecast: None

Note 2: Because the Company carried out a 5-to-1 reverse stock split for its common shares with an effective date ofOctober 1, 2017, the actual amount of second quarter-end dividend for the period ended March 2018 as calculated
on a pre-consolidation basis is presented. The second quarter-end dividend and the total annual dividend for theperiod ended March 2018, taking into consideration of the share consolidation, are 40 yen and 85 yen, respectively.

3. FY 2018 Consolidated Forecasts (April 1, 2018, to March 31, 2019)(Units: millions of yen)
Full Year
April 1, 2018, to March 31, 2019

Net sales

850,000% change
7.5

Operating income

64,000(8.5)

Ordinary income

61,800(8.4)

Net income attributed to shareholders of the parent
company

38,000

9.6

Projected net income per share (yen)310.11

Note:

Changes from the most recent consolidated forecast: None3

Consolidated Results for the First Quarter
Ended June 30, 2018

Additional Notes(1) Transfers of important subsidiaries during the fiscal period (moves of specific subsidiaries due to change in scope of
consolidation):
None
Newly consolidated:

None

Excluded from consolidation:None(2) Special accounting measures applied in the quarterly consolidated financial report:

Applicable(3) Changes to accounting policies, changes to accounting estimates, and restatements(i) Changes to accounting policies resulting from revisions to accounting standards, etc.:

None(ii) Changes other than (i):Applicable(iii) Changes to accounting estimates:None(iv) Restatements:

None(4) Number of shares issued (common shares)(i) Number of shares issued at end of fiscal period (including treasury stock):
As of June 30, 2018
As of March 31, 2018

122,905,481 shares
122,905,481 shares(ii) Amount of treasury stock at end of fiscal period
As of June 30, 2018
As of March 31, 2018368,275 shares
367,080 shares(iii) Average number of shares during fiscal period (cumulative quarterly period)
As of June 30, 2018
As of June 30, 2017
(Note)

122,537,519 shares
122,555,431 shares

The Company carried out a 5-to-1 reverse stock split for its common shares with an effective date of October 1,
2017. The average number of shares during the fiscal period was calculated, under the assumption that suchshare consolidation was conducted at the beginning of the previous consolidated fiscal year.

* The Quarterly Summary of Financial Results is not subject to the Quarterly Review by a certified public accountant or a
corporate auditor.
* Explanations and Other Special Items regarding the Pertinent Reasons for the Earnings Forecast
Earnings forecasts and outlooks concerning future financial results are believed to be reasonable based on
information available at the time of publication. Actual financial results may vary from the above forecast and outlook
because of a variety of factors. For information on the assumptions that form the basis of the earnings forecast anditems to note concerning the use of earnings forecasts, please see the Explanation of the Consolidated Earnings
Forecast and Other Forward-Looking Estimates in the Supplementary Materials on page 8.

4Consolidated Results for the First Quarter
Ended June 30, 2018

Supplementary Materials – Table of Contents
1. Qualitative Information regarding Current Quarterly Consolidated Business Performance ....... 6(1) Explanation of Business Performance ........................................................................................... 6(2) Explanation of the Group’s Consolidated Financial Position .......................................................... 7(3) Explanation of the Consolidated Earnings Forecast and Other Forward-Looking Estimates ......... 8
2. Quarterly Consolidated Financial Statements and Key Explanatory Notes .................................. 9(1) Quarterly Consolidated Balance Sheets ........................................................................................ 9(2) Consolidated Income Statements and Consolidated Statement of Comprehensive Income ........ 11
Consolidated Income Statements ................................................................................................ 11
Consolidated Statement of Comprehensive Income .................................................................... 12(3) Notes regarding Consolidated Quarterly Financial Statements .................................................... 13(Notes on Premise of a Going Concern) ...................................................................................... 13(Notes regarding Significant Fluctuations to Shareholders’ Equity).............................................. 13(Application of Accounting Procedures Specific to Preparation of Quarterly Consolidated Financial
Statements) .............................................................................................................................. 13(Change in Accounting Policy) ................................................................................................... 13(Additional Information) .............................................................................................................. 13(Subsequent Events of Significant Importance) ........................................................................... 13
3. Supplementary Information ............................................................................................................. 14(1) Orders, Sales and Operating Income, and Balance of Orders by Segment ................................. 14(2) (Summary) Consolidated Cash Flows Statement ......................................................................... 165

Consolidated Results for the First Quarter
Ended June 30, 2018

1. Qualitative Information regarding Current Quarterly Consolidated Business
Performance(1) Explanation of Business Performance
As for the business environment surrounding the Group during the first quarter of the current consolidated fiscal year underreview, capital investments trended positively as a result of improvement in corporate performance in Japan, and turning
to overseas markets, the recovery of the US manufacturing industry continued due to the recovery of domestic andoverseas demand and the industrial production in China continued to show stable growth. Due mainly to these factors,
demand for machinery was on an upward trend globally. On the other hand, the global economy is still lacking clarity in its
future direction mainly due to continued concerns over trade disputes and ongoing geopolitical risks in the Korean
Peninsula and other places.
In this business environment, the Group started the Medium-Term Management Plan 2019, proactively pursue investments
to drive growth through M&A, capital spending, etc., working to further improve the operational quality, actively promoting
CSR measures and moving forward with other key initiatives. Under these conditions, orders increased across all segmentsof the Group with the exception of the Industrial Machinery, and Others segments. On a consolidated basis, the Group
posted an order figure of JPY227.6 billion, a 23% increase as compared to the same period last year (hereinafter referred
to as the “previous term”). Sales also increased across all segments with the exception of the Others segment. In total, theGroup posted a sales figure of JPY202.7 billion, a 21% increase as compared to the previous term.
Turning to income, the drop in profits from the Precision Machinery and other segments was offset by increases from theConstruction Machinery, Industrial Machinery and Environmental Facilities & Plants segments. As a result, operating
income was JPY17.2 billion, a 45% increase as compared to the previous term, and ordinary income was JPY17.0 billion,
a 38% increase as compared to the previous term. Quarterly net income attributable to the shareholders of the parent
company also increased by 26% as compared to the previous term to finish at JPY10.9 billion.
Conditions in each business segment of the Group were as follows:
1. Machinery Components
The market for small-to-medium and large scale gear reducers from the domestic, US, Europe and China markets showed
positivity, along with the market for precision gear reducers for use in robots. As a result, orders and sales increased ascompared to the previous term. In actual figures, the segment received orders worth JPY30.8 billion, a rise of 11% ascompared to the previous term, and posted sales of JPY27.1 billion, a rise of 10% as compared to the previous term.
Further, the segment posted operating income of JPY2.1 billion.
2. Precision Machinery
With respect to plastics machinery, demand from the electric and electronic sector in China continued to be strong andalthough demand for semiconductor-related equipment in relation to cryogenic equipment decreased, demand in otherproduct areas showed positivity. Due to these and other factors, orders and sales increased as compared to the previous
term. In actual figures, the segment received orders worth JPY51.3 billion, a rise of 18% as compared to the previous term,and posted sales of JPY40.6 billion, a rise of 9% as compared to the previous term. Further, the segment posted operating
income of JPY3.2 billion.
3. Construction Machinery
With regard to the hydraulic excavator business, both orders and sales increased as compared to the previous term due
to a rise in demand from the China and other overseas markets. As for the mobile crane business, both orders and sales
increased as compared to the previous term mainly due to continued signs of recovery in the North American market andstrong demand from the domestic market. In actual figures, the segment received orders worth JPY75.6 billion, a rise of
17% as compared to the previous term, and posted sales of JPY71.0 billion, a rise of 26% as compared to the previous
term. Further, the segment posted operating income of JPY6.6 billion.

6

Consolidated Results for the First Quarter
Ended June 30, 2018

4. Industrial Machinery
Orders decreased as compared to the previous term as an increase in orders for medical-related products in the industrial
machinery business was offset by the drop in orders for industrial turbines and in the material handling business. On theother hand, sales increased as compared to the previous term driven mainly by an increase in sales of medical-related
products and forging presses in the industrial machinery business. In actual figures, the segment received orders worth
JPY18.2 billion, a fall of 13% as compared to the previous term, and posted sales of JPY20.8 billion, a rise of 2% ascompared to the previous term. Further, the segment posted operating income of JPY1.8 billion.
5. Ships
The slowdown in market conditions continued in the Ships segment which meant that no orders for new vessels weresecured during the current quarter under review, equaling the total from the previous term. On the other hand, one vessel
was delivered during the current quarter under review as compared to two vessels handed over in the previous term. In
actual figures, the segment received orders worth JPY6.7 billion, a rise of 105% as compared to the previous term, andposted sales of JPY9.6 billion, a rise of 9% as compared to the previous term. Further, the segment posted operating
income of JPY1.1 billion.
6. Environmental Facilities & Plants
Orders and sales in the energy plant business increased as compared to the previous term due to an increase in orders
for biomass-fueled power generation plants and the subsidiarization of Sumitomo SHI FW Energie B.V. On the other hand,in the water treatment plant business, sales increased as compared to the previous term, but orders dropped slightly ascompared to the previous term. In actual figures, the segment received orders worth JPY43.3 billion, a rise of 89% ascompared to the previous term, and posted sales of JPY32.1 billion, a rise of 76% as compared to the previous term.
Further, the segment posted an operating income of JPY2.0 billion.
7. Others
The Others segment received orders worth JPY1.7 billion, a fall of 7% as compared to the previous term, and posted salesof JPY1.6 billion, a fall of 6% as compared to the previous term. Further, the segment posted operating income of JPY0.5
billion.

(2) Explanation of the Group’s Consolidated Financial Position
1. Condition of Assets, Liabilities, and Net Assets
Total assets at the end of the first quarter of the current consolidated fiscal year under review (ended June 30, 2018)
amounted to JPY905.6 billion, an increase of JPY10.8 billion as compared to the end of the previous consolidated fiscal
year. This was mainly due to increases of JPY15.0 billion in inventory assets and JPY16.6 billion in intangible assets
offsetting a decrease of JPY14.0 billion in trade notes and accounts receivable.
Total liabilities rose to JPY462.3 billion, an increase of JPY12.5 billion as compared to the end of the previous consolidated
fiscal year. This was mainly due to increases of JPY8.3 billion in notes and accounts payable and a decrease of JPY4.6
billion in the balance of interest-bearing liabilities.
Net assets to JPY443.3 billion, a decrease of JPY1.7 billion as compared to the end of the previous consolidated fiscal
year. This was mainly due to decrease of JPY6.9 billion in the foreign currency translation adjustment account.
As a result of the above, the shareholders’ equity ratio fell by 0.8 points from the end of the previous consolidated fiscal
year to finish at 47.4%.
2. Cash Flow Condition
The increase in cash flow from operating activities was JPY25.0 billion (as compared to a increase in cash flow of JPY29.6
billion in the previous term). When broken down, the main components of the proceeds were JPY16.9 billion in quarterly
net income before tax and other adjustments, and the JPY20.1 billion reduction in trade receivables. The main sources ofthe outflow of cash were the JPY14.3 billion increase in inventory assets and the JPY5.1 billion payment of corporate andother taxes.
The decrease in cash flow as a result of investing activities was JPY27.5 billion (as compared to a decrease in cash flow

7

Consolidated Results for the First Quarter
Ended June 30, 2018of JPY18.7 billion in the previous term). The main reason for the cash outflow was the JPY19.3 billion used to acquire theshares of, and money invested in, a subsidiary, which results in a change in the scope of consolidation.
The decrease in cash flow as a result of financing activities was JPY6.2 billion (as compared to a decrease in cash flowof JPY14.7 billion in the previous term). The main reason for the cash outflow was the JPY5.3 billion used to pay
dividends.
As a result of the foregoing, the balance of cash and cash equivalents at the end of the first quarter of the current
consolidated fiscal year under review totaled JPY75.9 billion, a decrease of JPY9.6 billion as compared to the end of theprevious consolidated fiscal year.

(3) Explanation of the Consolidated Earnings Forecast and Other Forward-Looking Estimates
No revisions have been made to the consolidated earnings forecast for the fiscal year ending March 31, 2019, which was
published along with the earnings summary on May 8, 2018.
Please note that from the second quarter of the current consolidated fiscal year, the main exchange rates are assumed to
be USD1 = JPY105 and EUR1 = JPY125.

8

Consolidated Results for the First Quarter
Ended June 30, 2018

2.Quarterly Consolidated Financial Statements and Key Explanatory Notes(1) Quarterly Consolidated Balance Sheets(Units: millions of yen)
End of Previous Fiscal YearAs of March 31, 2018

End of First Quarter
As of June 30, 2018

AmountAmountAssetsCash and deposits

88,23377,479Notes and accounts receivable

269,409

255,385

Inventory assets

167,400

182,435

Other

30,597

34,704

Allowance for doubtful accounts(4,055)(4,155)551,584

545,848

Land

107,826

108,035

Other (net)131,770

131,741

Total tangible assets

239,596239,776

Goodwill

18,03034,705Other32,31932,19650,34966,900Other58,83058,574

Allowance for doubtful accounts(5,524)(5,480)53,30653,094

Fixed assets

343,251

359,770

Total assets

894,835

905,618

Current assets

Total intangible assets

Investments and other assets

9Consolidated Results for the First Quarter
Ended June 30, 2018

(Units: millions of yen)
End of Previous Fiscal YearAs of March 31, 2018

End of First Quarter
As of June 30, 2018

AmountAmountLiabilities
Notes and accounts payable

184,227

192,556

Short-term bank loans

33,51630,399Long-term loans due within one year

7,801

8,394

―

6,000

Allowance for guaranteed construction

13,47812,284

Other allowance amount

5,679

5,443

102,984

104,803347,684

359,879

Bonds

20,00020,000Long-term debt due after one year

2,864

4,018

155

153

Defined benefit liability

40,466

40,674

Deferred income taxes on revaluation

20,73020,713

Other

17,972

16,884

Total fixed liabilities

102,187

102,443

Total liabilities

449,871

462,322

Common stock

30,87230,872

Capital surplus

25,26725,267Retained earnings

314,296319,670

Treasury stock(1,000)(1,004)369,434

374,803

Unrealized gains on securities

5,406

4,974

Profit (loss) on deferred hedge

925

747

Revaluation reserve for land

40,83140,813Foreign currency translation adjustments

17,565

10,618Re-measurement of defined benefit plans(3,153)(2,705)

Total accumulated other comprehensive income

61,57454,447

Non-controlling interest

13,956

14,046

Total net assets

444,964

443,296

Total liabilities and net assets

894,835

905,618

Commercial Paper

Other
Current liabilities

Allowance

Net assets

Total shareholders' equity

10Consolidated Results for the First Quarter
Ended June 30, 2018

(2) Consolidated Income Statements and Consolidated Statement of Comprehensive Income
Consolidated Income Statements(Units: millions of yen)Previous First Quarter
April 1, 2017, to June 30,
2017

Present First Quarter
April 1, 2018, to June 30,
2018

AmountAmountNet sales

167,299

202,678

Cost of sales

126,522

152,851

Gross income

40,777

49,827

Selling, general & administrative expenses

28,92732,614

Operating income

11,85017,214

Interest income

136

142

Dividend income

423

554

1,034

630

1,593

1,325

Interest expense

288

238

Loss on foreign currency exchange

79

325

Other

765

931

Total non-operating expenses

1,133

1,495

Ordinary income

12,31017,044

Loss on impaired assets

72

104

Total extraordinary losses

72

104

Income before income taxes

12,238

16,940

Corporate income taxes

3,344

5,160

Net income

8,894

11,780Net income attributable to non-controlling interests

288

909

Net income attributed to shareholders of the parent
company

8,606

10,871Non-operating income

Other
Total non-operating income
Non-operating expenses

Extraordinary losses

11Consolidated Results for the First Quarter
Ended June 30, 2018

Consolidated Statement of Comprehensive Income(Units: millions of yen)Previous First Quarter
April 1, 2017, to June 30, 2017

Present First Quarter
April 1, 2018, to June 30, 2018

AmountAmount

Net income

8,894

11,780

Unrealized gains on securities

419

(433)

Profit (loss) on deferred hedge

22

(177)

Revaluation reserve for land

7―

(3,536)(7,211)

Adjustment to retirement benefits

92

445

Amount applied for equity method
accounting of affiliates

(16)

3

Total other comprehensive income(3,012)(7,373)

5,882

4,406

Comprehensive income relating toparent company shareholdings

4,725

3,761

Quarterly comprehensive income relating
to non-controlling interests

1,157

645

Other comprehensive income

Foreign currency translation adjustments

Comprehensive income(Breakdown)

12Consolidated Results for the First Quarter
Ended June 30, 2018

(3) Notes regarding Consolidated Quarterly Financial Statements(Notes on Premise of a Going Concern)
There are no applicable items.

(Notes regarding Significant Fluctuations to Shareholders’ Equity)
There are no applicable items.

(Application of Accounting Procedures Specific to Preparation of Quarterly Consolidated Financial
Statements)(Calculation of tax expenses)
The effective tax rate expected to be imposed on pretax net income (after tax effect accounting) applicable to theconsolidated fiscal year in which the first quarter of the current consolidated fiscal year under review is included wasestimated based on reasonable assumptions, and tax expenses were calculated by multiplying the quarterly pretax net
income by the estimated effective tax rate.

(Change in Accounting Policy)(Change in calculation method for tax expenses)
Previously, tax expenses of the Company and its consolidated subsidiaries were calculated based on a method that wasapplied as a general rule. To further streamline operations for quarterly settlement of accounts for the Company and its
consolidated subsidiaries, however, starting from the first quarter of the current consolidated fiscal year under review, thecalculation method for the tax expenses has been changed so that the effective tax rate expected to be imposed on pretax
net income (after tax effect accounting) applicable to the consolidated fiscal year is estimated based on reasonableassumptions, and tax expenses are calculated by multiplying the quarterly pretax net income by the estimated effective
tax rate.
Note that because this change only has a minimal impact, the Company has decided not to make a retrospective
application.

(Additional Information)
The Company has applied the “Partial Amendment to the ‘Accounting Standard on Tax Effect Accounting’” (Corporate
Accounting Standard No. 28; February 16, 2018), etc. from the first quarter of the current consolidated fiscal year underreview. As a result, deferred tax assets are presented in the investments and other assets section and deferred tax liabilities
are presented in the fixed liabilities section.

(Subsequent Events of Significant Importance)
There are no applicable items.

13Consolidated Results for the First Quarter
Ended June 30, 2018

3. Supplementary Information(1) Orders, Sales and Operating Income, and Balance of Orders by Segment
Orders(Units: millions of yen)Segment

April 1, 2017, toJune 30, 2017

April 1, 2018, toJune 30, 2018

AmountAmountY/Y Change
Amount%Machinery Components

27,75630,802

3,046

11.0

Precision Machinery

43,412

51,266

7,853

18.1

Construction Machinery

64,41575,622

11,206

17.4

Industrial Machinery

20,95918,188(2,771)(13.2)

Ships

3,263

6,679

3,416

104.7

Environmental Facilities & Plants

22,88343,287

20,404

89.2

Others

1,852

1,730

(122)

(6.6)

Total

184,540

227,574

43,033

23.3

Sales and Operating Income(Units: millions of yen)Segment

April 1, 2017, toJune 30, 2017

April 1, 2018, toJune 30, 2018

Operating
IncomeSales

Y/Y Change

Operating
IncomeSales

Operating
IncomeSales

Machinery Components

24,712

2,362

27,064

2,139

2,352

(223)

Precision Machinery

37,101

3,643

40,577

3,227

3,476

(415)

Construction Machinery

56,495

2,828

70,957

6,559

14,463

3,731

Industrial Machinery

20,312

1,464

20,817

1,796

505

332

Ships

8,778

1,075

9,600

1,062

821

(13)

Environmental Facilities & Plants

18,196(31)

32,058

1,951

13,863

1,982

Others

1,704

500

1,604

466

(100)

(34)

―

9

―

13

―

4

167,299

11,850202,678

17,21435,3805,363

Adjustments
Total

14

Consolidated Results for the First Quarter
Ended June 30, 2018

Balance of Orders Received(Units: millions of yen)Segment

End of Previous Fiscal
Year
As of March 31, 2018

End of First Quarter
As of June 30, 2018

AmountAmountChangeAmount%Machinery Components

31,74535,483

3,738

11.8

Precision Machinery

77,62488,312

10,68913.8

Construction Machinery

57,43362,0974,664

8.1

Industrial Machinery

98,93696,306(2,630)

(2.7)

Ships

49,82846,907(2,921)(5.9)

Environmental Facilities & Plants

232,209

243,437

11,228

4.8

Others

1,484

1,610

126

8.5

Total

549,258

574,153

24,895

4.5

The Group’s operating segments are categorized as follows:Businesses

Main Products

Machinery Components

Power transmission and controls equipment

Precision Machinery

Plastics machinery, film forming machines, semiconductor production
equipment, laser processing systems, cryogenic equipment, precision
positioning equipment, precision forgings, control components, defense
equipment, machining tools

Construction Machinery

Hydraulic excavators, mobile cranes, road machinery

Industrial Machinery

Ion accelerators, medical machines and equipment, forging press machines,
material handling systems, logistics systems, automated parking systems,
turbines, pumps

Ships

Ships

Environmental Facilities & Plants

Private power generation facilities, boilers, industrial waste treatment facilities,
air pollution control equipment, water and sewage treatment systems, processequipment, pressure vessels, mixing vessels, air-conditioning equipment, foodprocessing machinery

15

Consolidated Results for the First Quarter
Ended June 30, 2018(2) (Summary) Consolidated Cash Flows Statement(Units: millions of yen)Previous First Quarter
April 1, 2017, to June30, 2017

Present First Quarter
April 1, 2018, to June30, 2018

Income before income taxes

12,238

16,9404,702

Depreciation

5,320

6,119

800

(Increase) decrease in notes and accounts
receivable

28,361

20,095(8,267)(Increase) decrease in inventories(11,420)(14,325)(2,906)

Increase (decrease) in notes and accounts
payable

2,965

6,508

3,543

Payments for income taxes(7,503)(5,120)

2,384

(342)

(5,187)(4,845)29,61825,030(4,589)Payments for purchases of property, plant,
and equipment(5,860)(7,329)(1,469)Other(12,795)(20,185)(7,390)(18,654)(27,514)(8,860)Net increase (decrease) in short-term loans(8,155)

279

8,434

Cash dividends paid

(5,328)(5,345)

(17)

Other

(1,184)(1,091)

93(14,667)(6,157)

8,510

(168)

(922)

(753)

Cash and cash equivalents at beginning of period

61,01785,50324,486

Cash and cash equivalents at end of period

57,14675,94018,794Other
Net cash provided by operating activities

Net cash used in investing activities

Net cash used in financing activities
Other

16

Y/Y Change