Sumitomo Heavy Industries, Ltd.
CONSOLIDATED FINANCIAL REPORTFor the Three-Month Period from April 1 to June 30, 2020

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 Three-Month Period from April 1 to June 30, 2020

Summary of Consolidated Financial Results
For the Three-Month Period from April 1 to June 30, 2020
Presented July 31, 2020

Sumitomo Heavy Industries, Ltd.
Listed exchanges

Tokyo Stock Exchange

Stock code

6302

Head officeTokyo

President

Shinji Shimomura

URL

www.shi.co.jp

Inquiries

Michiko Watanabe
General Manager, Corporate Communications Dept.

Telephone+81 3 6737 2331

Scheduled date for submitting quarterly
reportScheduled date of payment of cash
dividends
Availability of supplementary explanations
for quarterly financial statement
Holding of meeting to explain quarterly
financial statement

August 7, 2020—
No
No

1. FY2020 First Quarter Consolidated Results (April 1, 2020, to June 30, 2020)(1) Business Results(Units: millions of yen)First Quarter
April 1 to June 30, 2020

First Quarter
April 1 to June 30, 2019% change% change

180,657(11.5)

204,1810.7

Operating profit

7,006(48.2)

13,531(21.4)

Ordinary profit

5,693(57.3)

13,339(21.7)

Profit attributable to owners of parent

2,603(70.8)

8,907(18.1)Net sales

Profit attributable to owners of parent ratio (yen)Fully diluted profit attributable to owners of parent ratio
Note: Comprehensive income:Fiscal quarter ended June 30, 2020: (2,566) million yen, (— %)Fiscal quarter ended June 30, 2019: 10,057 million yen, (128.2%)

2

21.25

72.69

―

―

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

(2) Financial Position(Units: millions of yen)
End of First Quarter
As of June 30, 2020

End of Previous Full Year
March 31, 2020

Total assets

980,386

996,111

Total net assets

471,438

477,648

Equity ratio (%)

46.8

46.6

Reference: Equity:
Fiscal quarter ended June 30, 2020: 459,115million yen
Fiscal year ended March 31, 2020: 464,457 million yen(Note) In the three months ended June 30, 2020, a provisional accounting treatment related to a business combination
was finalized and consolidated financial statements for the previous consolidated fiscal year reflect the finalized
provisional accounting treatment.

2. Dividends(Unit: yen)
Year Ended March 31,
2020

Year Ending March 31,
2021

Year Ending March 31,
2021 (forecast)First quarter――

Second quarter

56―

Third quarter――End of term

35―

Annual dividends

91―

Annual dividends per share(Note) Dividends forecasts for the fiscal year ending March 31, 2021 remain undetermined due to difficulty in calculating
forecasts for the full-year consolidated results as of now.

3. FY2020 Consolidated Forecasts (April 1, 2020, to March 31, 2021)(Units: millions of yen)

Full Year
April 1, 2020, to March 31, 2021
% change
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Profit attributable to owners of parent ratio (yen)With regard to forecasts for consolidated results for the fiscal year ending March 31, 2021, due to theimpact of the global COVID-19 pandemic, we currently have difficulty in making a reasonable estimateof such results and therefore the forecasts remain undetermined. We will promptly disclose the forecasts
when it becomes possible to calculate them.

3Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

Additional Notes(1) Transfers of important subsidiaries during the three months ended June 30, 2020:

None(moves of specific subsidiaries due to change in scope of consolidation)
Newly consolidated:—

Excluded from consolidation:—(2) Special accounting measures applied in the quarterly consolidated financial report:

Applicable(3) Changes to accounting policies, changes to accounting estimates, and retrospective restatements(i) Changes to accounting policies due to revisions to accounting standards:

None(ii) Changes to accounting policies not otherwise stated in (i):None(iii) Changes to accounting estimates:None(iv) Retrospective restatements:

None(4) Number of shares issued (share capital)(i) Number of shares issued at end of fiscal period (including treasury shares):
As of June 30, 2020
As of March 31, 2020

122,905,481 shares
122,905,481 shares(ii) Number of treasury shares at end of fiscal period:
As of June 30, 2020
As of March 31, 2020

389,796 shares
389,392 shares(iii) Average number of shares during fiscal period (cumulative quarterly period):
As of June 30, 2020
As of June 30, 2019122,515,795 shares
122,524,923 shares* The Quarterly Summary of Financial Results is not subject to the Quarterly Review by a Certified Public Accountant oran Independent 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 andoutlook due to a variety of factors. For information on the assumptions that form the basis of the earnings forecast
and items to note concerning the use of earnings forecasts, please refer to the Explanation of the Consolidated
Earnings Forecast and Other Forward-Looking Estimates in the Supplementary Materials section beginning on
page 5.

4

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

Supplementary Materials – Table of Contents

I.

Qualitative Information regarding Current Quarterly Consolidated Business Performance ....7
1. Explanation of Business Performance ............................................................................................7
2. Explanation of the Group’s Consolidated Financial Position ...........................................................8
3. Explanation of the Consolidated Earnings Forecast and Other Forward-Looking Estimates ..........9II.

Quarterly Consolidated Financial Statements and Key Explanatory Notes .............................10
1. Quarterly Consolidated Balance Sheets ........................................................................................10
2. Quarterly Consolidated Income Statements and Quarterly Consolidated Statement ofComprehensive Income .................................................................................................................13
3. Items of Special Note Concerning the Quarterly Consolidated Financial Statements ....................15(Significant Events or Conditions that Question the Premise of a Going Concern) .........................15(Notes regarding Significant Fluctuations to Shareholders’ Equity) .................................................15(Application of Accounting Procedures Specific to Preparation of Quarterly Consolidated Financial
Statements) .....................................................................................................................................15(Changes to Accounting Policies) ...................................................................................................15(Subsequent Events of Significant Importance) ..............................................................................15

III. Supplemental Information ............................................................................................................16
1. Orders Received, Sales, and Balance of Orders Received, by Segment .......................................16
2. (Summary) Quarterly Consolidated Cash Flows Statement ...........................................................18

6

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

I. 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, the spread of COVID-19 infections resulted in issuance of a declaration of an emergency situation in Japan, whichdampened various activities, and turning to overseas regions, pandemic lockdowns were enforced, leading to a
deterioration in the economic environment. These and other factors prompted a global downturn in demand for machinery.
Also, uncertainty over the global economy increased mainly due to escalation of trade disputes between the US and China,
ongoing geopolitical risks, fluctuations in oil prices and their slump in addition to the aforementioned factors.
In this business environment, the Group moved forward with responsive measures to COVID-19, such as securing safetyof employees and providing the maximum cooperation to meet social demands, and worked to implement a short-termbusiness continuity plan (BCP) including maintenance of production in the case of an employee being infected, maintainthe business amid declining orders, ensure continuation of factory operations, and carry our other activities.
Under these conditions, orders decreased in the Machinery Components, Precision Machinery and Construction Machinery
segments and amounted to JPY174.7 billion, a 9% decrease as compared to the previous fiscal year. In addition, sales
declined in all segments except for the Industrial Machinery and Environmental Facilities & Plants segments. In total, theGroup posted a sales figure of JPY180.7 billion, a 12% decrease as compared to the previous fiscal year.
Turning to income, profits decreased in the Machinery Components, Construction Machinery and Ships segments. As aresult, operating profit was JPY7.0 billion, a 48% decrease as compared to the previous fiscal year, and ordinary profit was
JPY5.7 billion, a 57% decrease as compared to the previous fiscal year. Quarterly profit attributable to the shareholders of
the parent company also decreased by 71% as compared to the previous fiscal year to finish at JPY2.6 billion.

Conditions in each business segment of the Group were as follows:(i) Machinery Components
Orders and sales decreased as the impact of spread of COVID-19 infections was seen all around the world. In addition, adecrease in sales resulted in operating loss. As a result, orders decreased by 4% as compared to the previous fiscal year
to finish at JPY32.9 billion, while sales decreased by 11% as compared to the previous fiscal year to finish at JPY28.4
billion. Further, the segment posted operating loss of JPY0.2 billion.
(ii) Precision Machinery
For the plastic machinery business, orders, sales and operating profit all decreased as there was a decline in demand fromthe electric and electronic sector in China and from Japan and Europe due partially to the spread of COVID-19 infections.
With regard to other product areas, orders decreased as compared to the previous fiscal year, but sales and operating
profit increased because demand for semiconductor-related products was strong. As a result, orders decreased by 21%
as compared to the previous fiscal year to finish at JPY33.6 billion, sales came to JPY38.3 billion, down 9% from theprevious fiscal year, and operating profit increased by 5% as compared to the previous fiscal year to finish at JPY3.6 billion.
(iii) Construction Machinery
With regard to the hydraulic excavator business, the spread of COVID-19 infections dampened demand from across theworld except for Japan, resulting in a decrease in all of orders, sales and operating profit. As the new coronavirus also
impacted the mobile crane business, prompting a drop in demand, and a slump in oil prices resulted in weaker demand
from the North America. Thus, orders, sales and operating profit all decreased. As a result of the above, orders across thesegment decreased by 29% as compared to the previous fiscal year to finish at JPY50.1 billion, while sales decreased by
26% as compared to the previous fiscal year to finish at JPY52.3 billion. The segment posted an operating profit of JPY1.1
billion, an 81% decrease as compared to the previous fiscal year.

7Consolidated Results for the Three-Month Period from April 1 to June 30, 2020(iv) Industrial Machinery
With regard to the material handling business, order intake increased due to a rise in orders for large-scale projects, andboth orders and operating profit increased because of a backlog of orders. For other product areas, the spread of COVID19 infections dampened marketing activities, which, along with other factors, led to a decrease in orders, and because ofa reduced backlog of orders from the previous fiscal year, sales also decreased. However, operating profit increased due
to a change in a model composition in sales. As a result of the above, orders across the segment increased by 4% ascompared to the previous fiscal year to finish at JPY21.3 billion, while sales increased by 22% as compared to the previous
fiscal year to finish at JPY22.2 billion. The segment posted an operating profit of JPY1.9 billion, a 188% increase ascompared to the previous fiscal year.
(v) Ships
Amid the continuing sluggish market during the first quarter of the current consolidated fiscal year under review, thesegment booked an order for one new vessel, one vessel more than in the previous fiscal year. The segment delivered
one vessel, one vessel more than in the previous fiscal year, but the number of ship repair projects declined, resulting in
reduced sales and operating loss. As a result of the above, orders across the segment increased by 79% as compared tothe previous fiscal year to finish at JPY7.9 billion, while sales decreased by 20% as compared to the previous fiscal year
to finish at JPY7.6 billion. The segment also posted an operating loss of JPY1.2 billion.

(vi) Environmental Facilities & Plants
Orders in the energy plant business increased partly because orders were received for large-scale projects for biomassfueled power generation plants in Europe, and sales and operating profit increased due primarily to a backlog of orders inJapan. With respect to the water treatment plant business, orders decreased partly because the number of projects for
waste water treatment equipment declined from the previous fiscal year. However, sales and operating profit increased
because of a backlog of orders. As a result of the above, orders across the segment increased by 55% as compared tothe previous fiscal year to finish at JPY27.6 billion, while sales increased by 2% as compared to the previous fiscal year tofinish at JPY30.5 billion. The segment posted an operating profit of JPY1.4 billion, a 63% increase as compared to theprevious fiscal year.

(vii) Others
Orders decreased by 35% to JPY1.3 billion, sales decreased by 9% to JPY1.4 billion, and operating profit increased by
28% to JPY0.3 billion from the previous fiscal year, respectively.

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, 2020)
amounted to JPY980.4 billion, a decrease of JPY15.7 billion as compared to the end of the previous consolidated fiscal
year. This was mainly due to decreases of JPY21.6 billion in trade notes and accounts receivable and JPY6.5 billion in
cash and deposits, while inventory assets increased by JPY10.7 billion.
Total liabilities declined to JPY508.9 billion, a decrease of JPY9.5 billion as compared to the end of the previous
consolidated fiscal year. This was partly because notes and accounts payable – trade decreased by JPY13.4 billion.
Net assets amounted to JPY471.4 billion, a decrease of JPY6.2 billion as compared to the end of the previous consolidated
fiscal year. This was mainly due to a decrease of JPY6.2 billion in foreign currency translation adjustments.
As a result of the above, the shareholders’ equity ratio increased by 0.2 points from the end of the previous consolidated
fiscal year to finish at 46.8%.

8

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

2. Cash Flow Condition
Cash and cash equivalents at the end of the first quarter of the current consolidated fiscal year under review came to
JPY77.7 billion, a decrease of JPY6.0 billion from the end of the previous consolidated fiscal year. Cash flows for the threemonths ended June 30, 2020 and the factors contributing to increases or decreases in cash flows are as follows.
(Cash Flow from Operating Activities)
Cash flow from operating activities increased by JPY3.9 billion during the three months ended June 30, 2020 anddecreased by JPY9.7 billion from the same period of the previous fiscal year. This is partly because a decrease in notes
and accounts receivable slowed down and income before tax decreased, although there was a decrease in payment ofcorporate and other taxes.
(Cash Flow from Investing Activities)
Cash flow from investing activities decreased by JPY13.4 billion during the three months ended June 30, 2020 and cash
outflow increased by JPY4.6 billion from the same period of the previous fiscal year. This is partly attributable to an increasein expenses for acquiring the shares of, and money invested in, a subsidiary, which results in a change in the scope of
consolidation.
(Cash Flow from Financing Activities)
Cash flow from financing activities increased by JPY4.2 billion during the three months ended June 30, 2020 and cash
inflow increased by JPY14.9 billion from the same period of the previous fiscal year. The main reason for the cash inflow
was an increase in interest-bearing debts.

3. Explanation of the Consolidated Earnings Forecast and Other Forward-Looking
Estimates
With regard to forecasts for results for the fiscal year ending March 31, 2021, mainly the Machinery
Components, Precision Machinery and Construction Machinery segments where a short lead time afterorder receipt is offered have been greatly affected by the global COVID-19 pandemic, and because
currently there are a lot of uncertainties, we have difficulty in making a reasonable estimate of such results
and therefore the forecasts remain undetermined. We will promptly disclose the forecasts when it
becomes possible to calculate them.

9Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

II. Quarterly Consolidated Financial Statements and Key
Explanatory Notes
1. Quarterly Consolidated Balance Sheets(Units: millions of yen)
End of Full YearAs of March 31, 2020

End of First Quarter
As of June 30, 2020

AmountAmountAssetsCurrent assets
Cash and deposits

87,06780,560Notes and accounts receivable271,406

249,763

Inventory assets

200,978

211,656

Other

36,67335,574

Allowance for doubtful accounts(3,341)(3,250)Total current assets

592,784

574,304

Land

107,535

107,315

Other (net)160,530

161,807

Total tangible fixed assets

268,066

269,121

Goodwill

28,83130,948Other

45,28044,836

Total intangible fixed assets

74,11175,784Other

65,44865,402

Allowance for doubtful accounts(4,297)(4,225)

Total investments and other assets

61,151

61,177403,327

406,083

996,111

980,386

Fixed assets
Tangible fixed assets

Intangible fixed assets

Investments and other assets

Total Fixed assets
Total assets

10Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

(Units: millions of yen)
End of Full YearAs of March 31, 2020

End of First Quarter
As of June 30, 2020

AmountAmountLiabilities
Current liabilities
Notes and accounts payable - trade158,489

145,140

Short-term loans payable

28,13935,798Current portion of long-term loans
payable

4,499

4,493

Commercial Papers

35,00032,000

Provision for construction warranties

13,742

13,004

Other provision amount

4,233

4,047

Other

121,554

117,781

Total current liabilities

365,657

352,262

Bonds payable

30,00030,000Long-term debt due after one year

27,032

32,163

154

153

Defined benefit liability

53,62853,134

Deferred income taxes on revaluation

20,628

20,628Other

21,36520,609Total non-current liabilities

152,806

156,686

518,463

508,948

Capital stock

30,87230,872

Capital surplus

26,07026,070Retained earnings

367,229

366,984

Treasury shares(1,080)(1,081)

Total Shareholders' equity

423,091

422,845

Valuation difference on available-forsale securities

2,410

3,253

Deferred gains or losses on hedges

(532)

(383)

Revaluation reserve for land

40,626

40,626

Foreign currency translation
adjustments

4,911(1,326)

Fixed Liabilities

Allowance

Total liabilities
Net assets
Shareholders' equity

Accumulated other comprehensive
income11

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

End of Full YearAs of March 31, 2020

End of First Quarter
As of June 30, 2020

AmountAmountRemeasurements of defined benefit
plans(6,049)(5,900)Total accumulated othercomprehensive income

41,36636,270Non-controlling interests

13,191

12,323

Total net assets

477,648

471,438

996,111

980,386

Total liabilities and net assets

12Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

2. Quarterly Consolidated Income Statements and Quarterly Consolidated Statementof Comprehensive Income
Quarterly Consolidated Income Statements
Three months ended June 30, 2020
(Units: millions of yen)Previous First Quarter
April 1, 2019 toJune 30, 2019

Present First Quarter
April 1, 2020 toJune 30, 2020

AmountAmountNet sales

204,181180,657

Cost of sales

156,592

140,755

Gross income

47,58939,901

Selling, general and administrative expenses

34,05832,895

Operating profit

13,531

7,006

Interest income

223

221

Dividend income

400

199

Other

598

452

1,221

872

Interest expenses

247

284

Foreign exchange losses

361

1,025

Other

804

876

1,412

2,185

Ordinary profit

13,339

5,693

Profit before income taxes

13,339

5,693

Income taxes

3,826

2,964

Profit

9,513

2,729

606

126

8,907

2,603

Non-operating profit

Total non-operating profit
Non-operating expenses

Total non-operating expenses

Profit attributable to no-controlling interests
Profit attributable to owners of parent

13

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

Quarterly Consolidated Statement of Comprehensive Income
Three months ended June 30, 2020
(Units: millions of yen)Previous First Quarter
April 1, 2019 to June 30, 2019

Present First Quarter
April 1, 2020 to June 30, 2020

AmountAmountProfit

9,513

2,729

Valuation difference on available-for-salesecurities

(362)

843

Deferred gains or losses on hedges

267

148

Foreign currency translation adjustments

415(6,433)Adjustment to retirement benefits

222

144

2

2

544

(5,296)

10,057(2,566)9,430(2,493)627(74)

Other comprehensive income

Share of other comprehensive income ofentities accounted for using equity
methodTotal other comprehensive income
Comprehensive income(Breakdown)
Quarterly comprehensive income
attributable to owners of parent
Quarterly comprehensive income
attributable to non-controlling interests

14Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

3. Items of Special Note Concerning the Quarterly Consolidated Financial
Statements(Significant Events or Conditions that Question the 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 profit (after tax effect accounting) applicable to the consolidated
fiscal year in which the first quarter of the current consolidated fiscal year under review is included was estimated basedon reasonable assumptions, and tax expenses were calculated by multiplying the quarterly pretax profit by the estimatedeffective tax rate.

(Changes to Accounting Policies)
There are no applicable items.

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

15

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

III. Supplemental Information
1. Orders Received, Sales, and Balance of Orders Received, by Segment(1) Orders Received(Units: millions of yen)Segment

April 1, 2019 toJune 30, 2019

April 1, 2020 toJune 30, 2020

AmountAmountY/Y Change
Amount%Machinery Components

34,08532,868(1,217)(3.6)

Precision Machinery

42,527

33,634(8,893)(20.9)

Construction Machinery

70,56750,132(20,435)(29.0)

Industrial Machinery

20,413

21,305

893

4.4

Ships

4,406

7,898

3,492

79.3

Environmental Facilities & Plants

17,791

27,561

9,770

54.9

Others

2,015

1,317

(697)

(34.6)

Total

191,804

174,716(17,087)(8.9)(2) Sales and operating profit/loss(Units: millions of yen)Segment

April 1, 2019 toJune 30, 2019

April 1, 2020 toJune 30, 2020

Operatingprofit/loss

Sales

Y/Y Change

Operatingprofit/loss

Sales

Operatingprofit/loss

Sales

Machinery Components

31,912

1,881

28,395(190)(3,517)(2,070)Precision Machinery

41,923

3,441

38,2903,605(3,633)163

Construction Machinery

71,151

5,792

52,325

1,124(18,825)(4,668)Industrial Machinery

18,235644

22,172

1,857

3,937

1,213

Ships

9,452

621

7,574

(1,177)(1,878)(1,798)Environmental Facilities & Plants

29,954886

30,493

1,449

540

562

Others

1,554

286

1,407

433

(147)

147

―

(21)

―

(94)

―

(73)

204,181

13,531

180,657

7,006(23,525)(6,524)

Adjustment
Total

16

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

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

End of Full YearAs of March 31, 2020

April 1, 2020 toJune 30, 2020

AmountAmountY/Y Change

Amount%Machinery Components

33,41937,891

4,473

13.4

Precision Machinery

87,101

82,444(4,656)(5.3)

Construction Machinery

59,06356,870(2,193)(3.7)

Industrial Machinery

97,75496,888

(866)

(0.9)

Ships

37,13537,460324

0.9Environmental Facilities & Plants

246,087

243,155(2,932)(1.2)

Others

1,296

1,207

(89)

(6.9)

Total

561,855

555,915(5,940)(1.1)

Business segments of the Company are categorized as follows.
Businesses

Main Products

Machinery Components

Power transmission, control equipment, motors, inverters

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

17

Consolidated Results for the Three-Month Period from April 1 to June 30, 2020

2. (Summary) Quarterly Consolidated Cash Flows Statement(Units: millions of yen)Previous First
Quarter
April 1, 2019 toJune 30, 2019

Present First
Quarter
April 1, 2020 toJune 30, 2020

Y/Y Change

Profit before income taxes

13,3395,693(7,646)

Depreciation

6,896

7,362

465

(Increase) decrease in notes and accounts
receivable

31,863

21,695(10,167)(Increase) decrease in inventories(18,020)(10,883)

7,137

Increase (decrease) in notes and accounts
payable - trade(7,222)(12,963)(5,741)

Payments for income taxes(11,660)(3,649)Other(1,612)(3,360)8,012(1,747)

Cash flows from operating activities

13,583

3,896(9,687)Purchase of fixed assets(10,349)(8,547)

1,802

1,483

(4,883)(6,367)(8,865)(13,430)(4,565)

Increase (decrease) in loans payable(2,259)9,448

11,707

Cash dividends paid

(7,373)(4,158)

3,215

Other

(1,122)(1,135)(13)(10,754)

4,155

14,909Other
Cash flows from investing activities

Cash flows from financing activities
Other

973

(595)

(1,567)

Cash and cash equivalents at beginning of year

69,776

83,63013,854

Cash and cash equivalents at end of quarter

64,71277,656

12,94418