Translation
Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between thistranslated document and the Japanese original, the original shall prevail.

Consolidated Financial Results
for the First Quarter of the Fiscal Year Ending December 31, 2021
(under Japanese GAAP)May 7, 2021
Company name: Roland Corporation
Listing:
Tokyo Stock Exchange
Security code:
7944
URL:
https://www.roland.com/global/
Representative:
Jun-ichi Miki, CEO and Representative Director
Contact:
Shunsuke Sugiura, CFO and Senior Executive Officer
Phone:+81-53-523-0230
May 12, 2021
Scheduled date to file Quarterly Securities Report (Shihanki Hokokusho):Scheduled date to commence payment of dividends:–
Preparation of supplementary briefing material on quarterly financial results: Yes
Yes (for institutional investors and securities analysts)
Holding of quarterly financial results briefing:(Note) Amounts less than one million yen have been omitted.
1. Consolidated financial results for the first quarter of the fiscal year ending December 31, 2021 (from January 1 to March 31, 2021)(1) Consolidated operating results(Percentages indicate year-on-year changes.)
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Three months ended
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
March 31, 2021
22,35556.5
4,610 321.2
4,369 402.6
3,423 423.3
March 31, 2020
14,282
(3.4)
1,094
0.3
869
(0.2)
654
3.1
Note: Comprehensive income
For the three months ended March 31, 2021: ¥4,564 million [ – %]For the three months ended March 31, 2020: ¥(431) million [ – %]Basic earnings
per share

Diluted earnings
per share

Three months ended
Yen
Yen
March 31, 2021
125.42
122.16
March 31, 2020
24.36–
Notes: 1. As the Company conducted a 30-for-1 common stock split effective on September 14, 2020, both basic and diluted
earnings per share were calculated based on the assumption that the stock split had been conducted at the beginning of the
fiscal year ended December 31, 2020.
2. Diluted earnings per share for the three months ended March 31, 2020 is not stated because the Company’s stock was notlisted and thus the average stock price was not available during that period.
(2) Consolidated financial position
Total assets
Net assets
Equity ratio
As ofMillions of yen
Millions of yen%
March 31, 2021
50,13023,82747.0
December 31, 2020
46,096
20,151
43.1
Reference: Equity (Shareholders’ equity + Accumulated other comprehensive income)As of March 31, 2021: ¥23,536 million
As of December 31, 2020: ¥19,853 million
2. DividendsFirstquarter-end
Yen–

Secondquarter-end
Yen1,080.00

Annual dividend per share
Third
quarter-end
Yen–

Fiscalyear-end

Total

Fiscal year ended
Yen
Yen
December 31, 2020
36.00–
Fiscal year ending
December 31, 2021–
Fiscal year ending
December 31, 2021
47.00
–
47.00
94.00
(forecast)
Note: 1. Revisions from the most recently announced dividends forecast: None
2. While the Company conducted a 30-for-1 common stock split effective on September 14, 2020, the dividends per share forthe second quarter-end of the fiscal year ended December 31, 2020 is a figure before the stock split. The annual dividend
per share for the fiscal year ended December 31, 2020 is not presented because the figures for the second quarter-end andthe fiscal year-end cannot be simply added up due to the stock split. If the effect of the stock split is taken into account, thedividend per share for the second quarter-end of the fiscal year ended December 31, 2020 will be 36 yen, resulting in theannual dividend per share of 72 yen.

3. Forecast of consolidated financial results for the fiscal year ending December 31, 2021 (from January 1 to December 31, 2021)(Percentages indicate year-on-year changes.)
Profit attributable to
Basic earnings
Net sales
Operating profit
Ordinary profit
owners of parent
per share
Millions ofMillions ofMillions ofMillions
yen
%
yen
%
yen
%
of yen%Yen
41,400
46.6
6,300
136.3
6,000
156.5
4,600
178.7
168.54First six months
78,80023.0
10,80051.8
10,100
60.9
7,700
79.0
282.13Fiscal year
Note: Revisions from the most recently announced forecast of consolidated financial results: Yes* For the details, please refer to the press release titled “Notice of Revisions of Financial Result Forecasts ” announced today(on May 7, 2021).
[Notes](1) Changes in significant subsidiaries during the current period (Changes in specified subsidiaries resulting in the change in scopeof consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates and restatements of prior period financial statements
1) Changes in accounting policies due to application of new or revised accounting standards: None
2) Changes in accounting policies due to reasons other than above 1):
None3) Changes in accounting estimates:
None4) Restatements of prior period financial statements:
None(4) Number of shares of common stock issued
1) Number of shares issued (including treasury stock)
As of March 31, 2021:
27,840,534 shares
As of December 31, 2020:
27,581,366 shares
2) Number of shares of treasury stock
As of March 31, 2021:
410,631 shares
As of December 31, 2020:
418,810 shares
3) Average number of shares of common stock during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2021:
27,292,689 shares
Three months ended March 31, 2020:
26,852,820 shares
Notes: 1. As the Company conducted a 30-for-1 common stock split effective on September 14, 2020, the “Average number ofshares of common stock during the period (cumulative from the beginning of the fiscal year)” was calculated basedon the assumption that the stock split had been conducted at the beginning of the fiscal year ended December 31,
2020.
2. The aggregate number of shares of the Company held by the Board Benefit Trust, Employee Stock Ownership Plan
Trust and Employee Shareholding Association-type ESOP Trust was included in the number of shares of treasury
stock, which was to be deducted from the calculation of the average number of shares of common stock during theperiod. It is noted that the average numbers of shares of common stock held by these trusts after the stock split
during the three months ended March 31, 2020 and 2021 were 491,010 shares and 417,042 shares, respectively.
* This quarterly financial results report is not subject to quarterly review procedures by certified public accountants or an audit firm.
* [Proper use of earning forecasts, and other special notes](Disclaimer with respect to earnings and other forecasts)
 The forward-looking statements including earnings forecast contained in this document are based on information currently
available and certain assumptions that are believed to be reasonable. Accordingly, please be advised that the Company does notguarantee the achievement of the forecasts and the actual results may differ from the results described in this forward-looking
statements due to a variety of factors. For further information on the forecast of consolidated financial results, please refer to“Explanation of forward-looking information including consolidated earnings forecast” on page 3 of the Attached Materials.
 The Company will hold a quarterly financial results briefing for institutional investors and securities analysts on Monday, May
10, 2021. Materials used at the quarterly financial results briefing will be posted on the Company’s website.

Contents of Attached Materials
1. Qualitative Information on Quarterly Consolidated Financial Results ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 2
(1) Explanation of consolidated operating results ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 2
(2) Explanation of consolidated financial position ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 3
(3) Explanation of forward-looking information including consolidated earnings forecast ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 3
2. Quarterly Consolidated Financial Statements and Major Notes ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 4(1) Quarterly consolidated balance sheets ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 4(2) Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 6(3) Quarterly consolidated statements of cash flowsꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 8
(4) Notes to quarterly consolidated financial statements ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 9
(Going concern assumption) ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 9
(Significant changes in shareholders’ equity)ꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏꞏ P. 9

-1-

1. Qualitative Information on Quarterly Consolidated Financial Results(1) Explanation of consolidated operating results
During the three months ended March 31, 2021, the global economic environment surrounding the Group remained uncertaindue in part to the outbreak of COVID-19 variants which are believed to be more transmissible, despite vaccination rollouts.
The electronic musical instruments business continued to enjoy strong demand especially from customers taking up achallenge to start playing musical instruments or those who resume musical performance, both hoping to enjoy themselves
during the stay home period. The major attraction of electronic musical instruments is that people can enjoy playing themalone or with others whenever and wherever they want.
Under these circumstances, at the end of the fourth quarter of the previous fiscal year, we temporarily piled up inventory to
prepare for a potential reduction in the utilization of our main factory in Malaysia and other partners' factories in the wake of
COVID-19. However, on the back of persistently strong demand for electronic musical instruments, the stocked inventory wasabsorbed more quickly than expected during the first quarter of the current fiscal year, and the utilization of factories did not
decline significantly. As a result, the volume of shipments was well beyond our expectation.
As a result of the above, during the three months ended March 31, 2021, net sales stood at ¥22,355 million (up 56.5% year onyear) with operating profit of ¥4,610 million (up 321.2% year on year), ordinary profit of ¥4,369 million (up 402.6% year onyear), and profit attributable to owners of parent of ¥3,423 million (up 423.3% year on year).
Sales performance by mainstay category is as shown below:[Keyboards]
Among mainstay categories, sales of electronic pianos, especially online sales, remained strong across regions, driven by brisk
demand from people staying home for longer hours in the wake of the COVID-19 pandemic. New portable piano series andnew space-saving models launched during the current fiscal year and entry models launched during the fourth quarter of theprevious fiscal year especially contributed to sales growth.
As a result of the above, net sales from the Keyboards category amounted to ¥6,924 million (up 61.3% year on year).
[Percussion and Wind Instruments]
Among mainstay categories, sales of electronic drums, especially the V-Drums Acoustic Design series launched in theprevious fiscal year, remained strong. During the same period last year, many of the stores where our business was being
operated were temporarily closed. During the first quarter of the current fiscal year, however, sales soared in all regions as theoperating hours of many stores were back to normal.
Sales of electronic wind instruments marked a significant increase, especially in China followed by Europe, North America,
and Japan, backed by brisk stay home demand and a contribution from the highest ranked Aerophone series model launched in
the fourth quarter of the previous fiscal year.
As a result of the above, net sales from the Percussion and Wind Instruments category amounted to ¥5,052 million (up 87.6%
year on year).
[Guitar-related Products]
Among mainstay categories, sales of guitar effects soared, backed especially by strong sales of new product families launchedduring the fourth quarter of the previous fiscal year and standard models of compact effects.
Sales of musical instruments amplifiers were stagnant in China during the same period last year under the influence of
COVID-19. Among these amplifiers, however, sales of the models intended for outdoor use recovered markedly during thefirst quarter of the current fiscal year. In addition, demand created through digital marketing in collaboration with key
influencers helped increase sales of the KATANA amplifier series mainly in Europe and North America.
As a result of the above, net sales from the Guitar-related Products category amounted to ¥5,588 million (up 36.8% year onyear).
[Creation-related Products & Services]
Among mainstay categories, sales of synthesizers performed strongly, driven by increased demand for electronic musicalinstruments from people staying home for longer hours amid the COVID-19. Products such as compact stage pianos andsynthesizers equipped with 88 keys like electronic pianos contributed to sales growth.
Sales of dance and DJ-related products also soared, driven by strong sales of new product families launched during the-2-

previous and current fiscal years.
In the software and service domain, we continued to offer new software synthesizer to customers through Roland Cloud
platform.
As a result of the above, net sales from the Creation-related Products & Services category amounted to ¥2,836 million (up63.8% year on year).
[Video and Professional Audio]
Among mainstay categories, sales of video related products such as AV mixers grew, backed by rising video distribution
demand from businesses, educational institutions, and individuals.
Sales of professional audio related products struggled as capital investment demand continued to decline under the influence ofpreventive measures against the spread of COVID-19.
As a result of the above, net sales from the Video and Professional Audio category amounted to ¥1,273 million (up 39.2% year
on year).

(2) Explanation of consolidated financial position(i) Assets, liabilities and net assets as of March 31, 2021
Total assets at the end of the first quarter of the current fiscal year on a consolidated basis increased by ¥4,033 million from theend of the previous fiscal year to ¥50,130 million. This is attributable primarily to increases in cash and deposits of ¥1,426 million
and trade receivable of ¥2,895 million respectively, which were partially offset by a decrease in accounts receivable nontrade incurrent assets of ¥459 million. The position of cash and deposits is described in detail in the next section.
Liabilities increased by ¥356 million from the end of the previous fiscal year to ¥26,302 million. This is attributable primarily to
an increase in trade payables of ¥433 million.
Net assets increased by ¥3,676 million from the end of the previous fiscal year to ¥23,827 million. This is attributable mainly torecording of profit attributable to owners of parent of ¥3,423 million and an increase in foreign currency translation adjustmentof ¥1,117 million due to the depreciation of yen against major currencies, which were partially offset by dividends from retained
earnings of ¥992 million.
As a result of the above, the equity ratio rose 3.9 percentage points from the end of the previous fiscal year to 47.0%.

(ii) Cash flows for the three months ended March 31, 2021
During the three months ended March 31, 2021, cash and cash equivalents (“net cash”) increased by ¥1,426 million from the endof the previous fiscal year to ¥12,259 million.
Cash flows from operating activities
Net cash provided by operating activities amounted to ¥2,411 million (up ¥1,348 million in the inflow year on year), which is
attributable primarily to recording of profit before income taxes.
Cash flows from investing activities
Net cash provided by investing activities amounted to ¥88 million (up ¥281 million in the inflow year on year), which is
attributable mainly to proceeds from sales of property, plant and equipment.
Cash flows from financing activities
Net cash used in financing activities amounted to ¥1,199 million (up ¥419 million in the outflow year on year), which is
attributable primarily to payments of dividends and repayments of borrowings.

(3) Explanation of forward-looking information including consolidated earnings forecast
We have revised the consolidated earnings forecast announced on February 12, 2021 in view of the recent trends of our businessperformance. For the details, please refer to “Notice of Revisions of Financial Result Forecasts ” released today (on May 7, 2021).

-3-

2. Quarterly Consolidated Financial Statements and Major Notes(1) Quarterly consolidated balance sheets
Previous fiscal year
(As of December 31, 2020)(Millions of yen)
Current quarter(As of March 31, 2021)

AssetsCurrent assets:
Cash and deposits

10,832

12,259Notes and accounts receivable – trade

5,930

8,826

Merchandise and finished goods

13,622

13,766Work in process

889

1,058

Raw materials and supplies

3,563

3,924

Other

1,558

1,089

Allowance for doubtful accounts

(338)

(326)

36,05840,597

Buildings and structures, net

2,717

2,654

Land

1,652

1,665

Total current assets
Non-current assets:
Property, plant and equipment:

Other, net

1,391

1,446

Total property, plant and equipment

5,761

5,766

759

724

949

959

Other

2,677

2,188

Allowance for doubtful accounts

(110)

(107)

Total investments and other assets

3,517

3,041

10,0389,532

46,09650,130Intangible assets
Investments and other assets:
Investment securities

Total non-current assets
Total assets-4-

Previous fiscal year
(As of December 31, 2020)(Millions of yen)
Current quarter(As of March 31, 2021)

Liabilities
Current liabilities:
Notes and accounts payable – trade
Short-term borrowings
Current portion of long-term borrowings

5,228

5,662

138

127

3,935

3,904

Income taxes payable

467

816

Provision for bonuses

1,441

596

Provision for bonuses for directors (and other officers)

84

14Provision for product warranties

294

355

Provision for loss on competition law

562

–

Other

4,826

6,095

Total current liabilities

16,97917,571

5,762

5,543

Non-current liabilities:
Long-term borrowings
Provision for product warranties

00Provision for share-based remuneration

217

224

Provision for share-based remuneration for directors (and other officers)

25

29

1,482

1,469

Retirement benefit liability
Asset retirement obligations

85

86

Other

1,391

1,376

Total non-current liabilities

8,965

8,730

25,94526,302

Share capital

9,490

9,547

Capital surplus

69

126

Retained earnings

13,23015,660Treasury shares

(403)

(396)

22,38624,938(51)(52)

Foreign currency translation adjustment(2,203)(1,085)Remeasurements of defined benefit plans

(278)

(264)

(2,533)(1,402)

Share acquisition rights

158

141

Non-controlling interests

139

150

20,151

23,82746,09650,130Total liabilities
Net assets
Shareholders’ equity:

Total shareholders’ equity
Accumulated other comprehensive income:
Valuation difference on available-for-sale securities

Total accumulated other comprehensive income

Total net assets
Total liabilities and net assets-5-(2) Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income
Quarterly consolidated statements of income
Three months ended
March 31, 2020
14,282

Net sales(Millions of yen)Three months ended
March 31, 2021
22,355

Cost of sales

7,261

11,863Gross profit

7,021

10,491

Selling, general and administrative expenses

5,926

5,881

Operating profit

1,094

4,610

Interest income

32

Dividend income

31Commission income

2

2

Other

2

2

Total non-operating income

118Interest expenses

10

6

Sales discounts

111

178

Foreign exchange losses

104

36

9

26

236

249

869

4,369

Gain on sales of non-current assets

4262

Total extraordinary income

4262

Loss on competition law–

149

Loss on sales and retirement of non-current assets00

Non-operating income:Non-operating expenses:

Other
Total non-operating expenses
Ordinary profit
Extraordinary income:Extraordinary losses:

0150

Profit before income taxes

Total extraordinary losses

873

4,481

Income taxes – current

198

885

Income taxes – deferred

17

171

Total income taxes

216

1,056

Profit

656

3,425

2

2

654

3,423

Profit attributable to non-controlling interests
Profit attributable to owners of parent-6-

Quarterly consolidated statements of comprehensive income
Three months ended
March 31, 2020
656

Profit(Millions of yen)Three months ended
March 31, 2021
3,425

Other comprehensive income:
Valuation difference on available-for-sale securities

(130)

(1)

Foreign currency translation adjustment

(979)

1,126

21

14

(1,088)

1,139

(431)

4,564

(430)

4,554

(0)

10

Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:
Owners of parent
Non-controlling interests-7-(3) Quarterly consolidated statements of cash flows
Three months ended
March 31, 2020

(Millions of yen)Three months ended
March 31, 2021

Cash flows from operating activities:
Profit before income taxes

873

4,481

Depreciation

386

393

Amortization of goodwill

1

1

Increase (decrease) in retirement benefit liability

23

3Interest and dividend income

(6)

(3)

Interest expenses

10

6Foreign exchange losses (gains)

(17)

(176)

Loss (gain) on sales and retirement of non-current assets

(3)

(261)

Decrease (increase) in trade receivables

996(1,657)

Decrease (increase) in inventories

633

319

Increase (decrease) in trade payables

(836)

(347)

Other, net

(685)

205

Subtotal

1,374

2,964

Interest and dividends received

68Interest paid

(5)

(6)

Income taxes paid

(313)

(554)

Net cash provided by (used in) operating activities

1,062

2,411

(214)

(198)

5

298

Purchase of intangible assets

(61)

(16)

Long-term loan advances(5)–

Collection of long-term loans receivable

12

9

Other, net

70

(4)

(192)

88

Net increase (decrease) in short-term borrowings(1,955)(8)

Proceeds from long-term borrowings

2,700

–

Repayments of long-term borrowings

(250)

(250)

Proceeds from issuance of shares–

96

Proceeds from sales of treasury shares–

32

Purchase of treasury shares–(0)(1,197)(976)

Other, net

(77)

(94)

Net cash provided by (used in) financing activities(780)(1,199)Effect of exchange rate change on cash and cash equivalents

(455)

126

Net increase (decrease) in cash and cash equivalents

(365)

1,426

Cash and cash equivalents at beginning of period

8,815

10,832

Cash and cash equivalents at end of period

8,449

12,259Cash flows from investing activities:
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment

Net cash provided by (used in) investing activities
Cash flows from financing activities:

Dividends paid-8-(4) Notes to quarterly consolidated financial statements(Going concern assumption)
Not applicable.
(Significant changes in shareholders’ equity)
Not applicable.

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