Consolidated Financial Statements for the Fiscal Year ended March 31, 201528 April 2015
These financial statements have been prepared in accordance with accounting principals generally accepted in Japan.
NEC Networks & System Integration Corporation

Stock exchange listing: Tokyo
Code number:
1973

Tel: +81-3-6699-7000
http://www.nesic.co.jp/english/index.html
1. Consolidated Results for the Fiscal Year 2014 ended March 31, 2015
(Rounded down to the nearest million yen.)(1) Net Sales and Income(Percentages represent change compared with the previous fiscal year.)
Operating
Ordinary
Year-on-year
Year-on-year
incomeincomechange (%)
change (%)(¥ million)(¥ million)
FY ended March/15
292,164
8.1
16,15812.1
16,18911.4
FY ended March/14
270,326
14.7
14,41815.5
14,534
19.3（Note) Comprehensive income : 31/Mar/15 : ¥9,668 million (10.5%) ; 31/Mar/14 : ¥8,747 million (15.9%)
Net sales(¥ million)

Year-on-yearchange (%)

Net income per
Operating
Return on
Ordinary income/share (diluted)
income/ Net sales
equity (%)
Total assets (%)
(¥)
(%)
8.7
8.3
5.5
―
FY ended March/15
7,791
-5.6
156.72
9.6
8.2
5.3
FY ended March/14
8,257
13.9
166.06—（Reference) Equity in earnings (losses) of affiliates (\ million) : 31/Mar/15 : ¥12million ; 31/Mar/14 : - ¥12million
Net income(¥ million)

Year-on-yearchange (%)

Net income
per share (¥)(2) Financial Position
Total assets
Net assets
Owner's equity Net assets per(¥ million)(¥ million)
ratio (%)
share (¥)
31-Mar-15
201,964
94,17345.8
1,864.61
31-Mar-14
189,059
89,16646.3
1,760.06（Reference) Owner's equity : 31/Mar/15 : ¥92,559 million ; 31/Mar/14 : ¥87,514million(3) Cash FlowsFY ended March/15
FY ended March/14

Net cash provided by (used in)operating activities(¥ million)
2,460
23,313

Net cash provided by (used in)investing activities(¥ million)-3,929-5,504

Net cash provided by (used in)financing activities(¥ million)-4,127-3,824

Cash and cash equivalents at end ofyear(¥ million)
38,95144,434

2. Dividends
Dividends per share (¥)

FY ended March/14
FY ended March/15
FY ending March/16（Projected)

Interim3rd
quarterYear-end

Full year

—
—

30.00
32.00

—
—

30.00
32.00

60.00
64.00

—

35.00

—

35.00

70.00

1st
quarter

Total dividends
paid(full year)(￥million)
2,983
3,179

Payout ratio(consolidated)
(%)
36.1
40.8

Dividends/
Net assets(consolidated)
(%)
3.5
3.5

36.6

3. Financial Forecasts for Fiscal Year 2015 ending March 31, 2016
Net sales
6 Months ending
Sep/15
FY ending Mar/16

Operating income(Percentages represent change compared to the previous corresponding period.)
Net income
Ordinary income
Net income
per share(¥ million)(%)(¥ million)(%)(¥)(¥ million)(%)(¥ million)(%)

130,000

-0.5

4,500

-0.0

4,500

-3.5

2,400

-10.7

48.35

295,000

1.0

16,5002.1

16,500

1.9

9,500

21.9

191.38

Cautionary Statement
Forecasts of results mentioned in this document are future estimates and are thus inclusive of risks and uncertain factors since they are not based on definite facts. Please be aware that a variety of factors could cause
actual results to differ significantly from those projected. The major factors affecting actual results include the economic climate and social trends surrounding the business of this Company’s group, consumer trends vis-avis systems and services provided by this Company’s group, as well as pressure to lower prices and ability to cope with the market in response to intensified competition.
Factors affecting results are not limited to the ones mentioned above.

4． Business Results（1） Business Results for the Fiscal Year Ended March 31, 2015

During the fiscal year ended March 31, 2015 (the period from April 1, 2014 to March 31, 2015),
the outlook for the Japanese economy remained uncertain, given the reactionary decline after
the last-minute surge in demand stemming from the consumption tax hike and concern over adownturn in overseas economies. Nonetheless, the economy generally staged a moderate
recovery due to the government’s economic measures and financial policy.
Under these economic conditions, our business remained steady overall in the fields ofinformation and communication technology (ICT), in which NEC Networks & System Integration
Corporation (“the Company”) operates, although it varied from field to field.

First, in the corporate market, while corporate managers continued to hold conservative views
on investment effects, there was a recovery in investment appetite against the backdrop of an
economic recovery. Work style reforms, and particularly recent ICT investments for enhancing
business management and competitiveness, showed encouraging signs

In the telecommunication carriers’ market, there were continuous investments in thedevelopment of high-speed broadband networks, especially LTE networks. However, carriers’
overall capital spending went through a difficult stage with the completion of large investments inbase stations for new frequency ranges, although they had been strong until the first half of theprevious fiscal year.

In the central and local governments market, ICT-related public investments with the concept ofsafety and security remained strong. Investments in the digitization of fire-fighting radio systems
peaked out in the second half in terms of orders. Nevertheless, the construction of systems is
brisk, aimed at completion before the deadline in May 2016.

In this environment, the Company and its consolidated subsidiaries (hereinafter the “Group”)
strengthened their sales capabilities and promoted the opening of EmpoweredOffice(*2)
nationwide and the development and release of new services

The Group also strengthened its

ability to provide comprehensive services, using M&A carried out in the previous fiscal year
alongsidetheestablishmentofastrategic

base

for

furtherstrengtheningitsmaintenance/technical services/SCM (Supply Chain Management) platform, which is one of theGroup’s strengths, in the Tokyo Bay area. The Group also took aggressive steps to deal withprojects that are in full swing, including dealing with digitization of fire-fighting anddisaster-prevention network systems

As a result, the Group posted the following consolidated results for the fiscal year under review:

Net sales¥292,164 million

8.1% increase year on year

Operating income¥16,158 million

12.1% increase year on year

Ordinary income¥16,189 million

11.4% increase year on year

Net income¥7,791 million

5.6% decrease year on year

¥299,097 million

6.8% increase year on year

＜Reference＞
Orders received

Net sales rose 8.1% year on year, to ¥292,164 million. While sales from the construction oflarge base stations declined, the Group aggressively took steps to capture business
opportunities from increases in ICT investments in the area of corporate networks, as well as
public investment in fire-fighting and disaster prevention systems and other systems forsecuring public security and safety.
In addition, Q&A Corporation and NEC Magnus Communications, Ltd., which the Groupmade consolidated subsidiaries in June and October 2013, respectively, contributed to theresults. Orders received expanded 6.9% year on year, to ¥299,097 million.
Turning to profit, operating income and ordinary income rose year on year to a record¥16,158 million and a record ¥16,189 million, respectively, reflecting increased sales. Net
income declined 5.6% year on year, to ¥7,791 million chiefly due to a reversal of deferred tax
assets associated with a reduction in the effective tax rate due to the tax system revision.

Operating results by business segment were as follows:（Million yen）

Net sales by business segment
SocialEnterprises

Carrier

Networks

Networks

Infrastructur

Other

Total

e

Fiscal 2015.3

99,26976,631

96,782

19,481

292,164

Fiscal 2014.3

90,80478,33582,627

18,559270,326

Increase or decrease

8,465-1,704

14,154921

21,837

17.1

5.0

8.1

Ratio

of

increase

or

9.3

-2.2

decrease (%)（Million yen）

Reference: Orders received by business segment
SocialEnterprises

Carrier

Networks

Networks

Infrastructur

Other

Total

e

Fiscal 2015.3

105,31176,44899,767

17,570299,097

Fiscal 2014.3

91,84974,724

94,87918,617280,071

Increase or decrease

13,461

1,723

4,887

19,025

14.7

2.3

5.2

-1,046

Ratioofincreaseordecrease (%)-5.61). Enterprise Networks business
The Group’s sales focus on its office innovation solution EmpoweredOffice* increased
further in aggressively response to customer needs for management innovation. As part ofits initiatives to expand and strengthen its system for providing comprehensive services tohelp customers improve their operations and management, in June 2013 the Group madeQ&A Corporation, which has an advantage in technical support and consulting, itsconsolidated subsidiary. Reflecting these initiatives, net sales rose 9.3% year on year, to¥99,269 million.

2). Carrier Networks businessDespite the effect of having made NEC Magnus Communications, Ltd., which has its own
network technology and security technology, its consolidated subsidiary in October 2013,
net sales decreased 2.2% year on year, to ¥76,631 million, due to the effect of decreased
telecommunications carriers’ capital spending, such as a reactionary decline in the

6.8

construction of large base stations associated with new frequency ranges in the previous
fiscal year.

3). Social Infrastructure business
The Group actively responded to increasing ICT investments for security and safety in the
public sector, especially investments in the digitization of fire-fighting and disasterprevention systems. As a result, net sales climbed 17.1% year on year, to ¥96,782 million.

*EmpoweredOffice:EmpoweredOffice is our office innovation solution. It combines our strengths in ICT and
facility installation to enable more intellectual and creative styles of work through process
reforms. It also proposes new methods and places of work that enable customers to fulfill
their social responsibilities, such as the strengthening of security and environmental
responsiveness.
Outline of Business Segments
Business Segment

Descriptions of Main Businesses
Service integration of ICT solutions, mainly for the enterprises market

Enterprises Networks

Total office solutions based on ICT with securities or environmental solutions
and related operation/monitoring services, as well as outsourcing services
using our own contact centers and data centers
Service integration mainly for telecom carriers’ ICT platforms (from mobile
communications base stations to core networks), including systems

Carrier Networks

integration, installation, and related services such as operations andmonitoring.
Systems integration of large-scale, wide-area, carrier-grade ICT platforms
and data centers and related operations, monitoring services
Service integration of ICT infrastructure for governments and public utilities

Social Infrastructure(broadcasters, electric power companies, etc.), such as systems integration,
installation, operation, and monitoring, and operations in markets other than
the Tokyo, Nagoya, and Osaka areas

OthersToyo Networks & System Integration Co., Ltd. and sales of purchased
equipment*The Group has reviewed its operational structure, aiming to enhance it by restructuring it inaccordance with markets. In the fiscal year under review, the Group has changed the contents ofbusiness segments, and construction work for carriers, including the construction of mobile
communications base stations, has been transferred from Social Infrastructure segment to Carrier
Networks segment, among other changes.

Segment information for the previous fiscal year has been changed to reflect the change in thecontent of business segments.

（2） Outlook for the Fiscal Year Ending March 31, 2016

The Company’s consolidated results forecast for the fiscal year ending March 31, 2016 (theperiod from April 1, 2014 to March 31, 2016) is as follows:
Net sales¥295 billion

1.0% increase year on year

Operating income¥16.5 billion

2.1% increase year on year

Ordinary income¥16.5 billion

1.9% increase year on year

Net income¥9.5 billion

21.9% increase year on year

In the fiscal year ending March 31, 2016, the Japanese economy is expected to continue toshow improved business sentiment, reflecting a recovery in domestic demand from the decline
associated with the consumption tax hike and an improvement in corporate earnings, despite anumber of uncertain factors, including the impact of overseas political and economic
developments.
The ICT industry, in which we operate, is also expected to generally maintain a firm businessenvironment—although conditions vary from field to field—given the expansion of corporate
appetite for investment and the government’s continued public investment.
To continue to achieve growth after the peaking of digitization of fire-fighting emergency radio
systems, the Company plans to develop more customer-oriented businesses, with a focus on
customer perspectives. The Company expects to post net sales of ¥295 billion, up 1.0% year on
year.
In the Enterprises Networks business, we will seek to expand the business, taking advantage
of customers’ increasing willingness to make ICT investments. We will strive to expand sales ofthe office innovation solution EmpoweredOffice to local companies and municipalities. In addition,
we will continue to strengthen our ability to provide comprehensive services to help improvecustomers’ operational processes and corporate management through the combination of ICT
and BPO.
In the Carrier Networks business, despite uncertainties in the capital spending outlook of
telecommunications carriers, we are continuing our initiatives to respond to advances in
networks as a result of the rapid increase in network traffic associated with the growing numberof smartphone users. In the future, we will be even more proactive, for instance with theprovision of support related to overseas vendors and the creation and proposal of newvalue-added services.
In the Social Infrastructure business, we will continue to be involved in projects for thedigitization of fire-fighting and disaster prevention systems, which have recently become very
active. We expect that public investment in infrastructure for safety and security will remainstrong and we will be active in response.
On the profit front, we will seek to post record operating income of ¥16.5 billion and record net
income of ¥9.5 billion by continuing to focus on management innovation, despite an anticipatedincrease in prior investments in the operating base.

(3) Profit Distribution Policy and Dividends for FY2015/3 and FY2016/3
We view the distribution of a reasonable share of profits to shareholders as one of our top
management priorities, and make every effort to reinforce the Company’s managementfoundation, strengthen its financial standing, and increase its earning capacity. While we also
place a great deal of importance on increasing our corporate value through growth byaccelerating strategic investment in M&A and creating new businesses that will allow us toexpand our future services, we strive to continually meet the expectations of our shareholders in
our profit distribution.
On that basis, in line with forecasts made previously, we have decided to increase ouryear-end dividend to ¥32 per share and our annual dividend to ¥64 per share for FY2015/3,
rising ¥4 from the previous fiscal year.
The dividend per share for FY2016/3 is expected to be ¥35 for both the interim andfull-year periods, increasing our annual dividend to ¥70.

5. Management Policies(1) Basic Corporate Management Policy
NEC Networks & System Integration Corporation (the “Company”) is an ICT service integrator
with unique strengths stemming from (1) its foundation of reliable ICT technology capable ofproviding a complete package of services from system planning, introduction, and operation to
outsourcing across a broad range of areas, including office ICT systems for enterprises,
telecommunications carriers, and public and social infrastructure; (2) a nationwide support
system and base to serve essential social infrastructure; and (3) construction bases capable ofproviding comprehensive services for facility management and design in addition to ICT. We arefurther strengthening our infrastructure for comprehensive services to help improve ourcustomers’ operational processes and business management by, for instance, using external
resources through M&A and partnerships. We strive to provide even more satisfactory services
to our customers by enhancing our service businesses and developing them by taking
advantage of our strengths, and seek to bolster our corporate value.

(2) Management Targets
Our key management strategy is to profitably expand our business while making active
investments, taking advantage of our solid financial foundation through improved profitability andenhanced business structure. As a business expansion target, we aim to post record net sales of¥295 billion and record operating income of ¥16.5 billion (an operating profit margin of 5.6%),
exceeding the targets in the medium-term plan, which concludes next fiscal year (FY2016/3). We
aim to improve capital efficiency and achieve an ROE of 10% next fiscal year.

(3) Medium- to Long-Term Management Strategies and Issues the Company Faces
The ICT market in which we operate our businesses has become an essential platform forcorporate and social activities. In view of improving convenience and pursuing efficiency,
demand for ICT services is expected to grow across broader sectors, and investments ininfrastructure development and network sophistication are also likely to increase.
Given these changes in customer needs and the likely significant shift of ICT-related
investments into service fields, we plan to actively meet the demand for infrastructuredevelopment that is expected to grow in the medium term, and also position our service
businesses as a priority area for long-term growth as well as consider and implement
investments to achieve growth, including enhancing our resources and by creating new
businesses. In particular, our unique advantage is our broad range of business platforms,
including construction, ICT technologies, and support service businesses. We plan to improve
our new ICT plus BPO services by investing in these business platforms, reinforcing eachplatform, and promoting cooperation among them.
(i)Growth Initiatives
Enterprises Networks Business
Given that the domestic market is maturing and global competition is intensifying, top
managers are requesting proposals for using ICT as a tool to strengthen management. In
response to this need for management innovation, we will enhance our proposal and consulting
capacity by implementing EmpoweredOffice in our entire head office and the other offices ineach of our locations to demonstrate our own solutions, promote their improvement, and adapt
their results to specific proposals from the perspective of customers. Meanwhile, in our service
businesses, by expanding and upgrading our business platforms and resources through theinvestments in growth mentioned above, we will strengthen our comprehensive services tosupport customers’ operational processes and business management using cloud computing
and BPO and, at the same time, increase our cost competitiveness.
Carrier Networks BusinessTelecommunications carriers are currently strengthening their networks to accommodate theincrease in data traffic that has accompanied the proliferation of smartphones. Meanwhile, they
are improving the efficiency of their capital expenditure and expanding operations in overseas
markets. We will expand our business in response to these developments. In particular, as themarket is becoming increasingly open and globalized, the need is increasing fortelecommunications carriers that can provide comprehensive technical services ranging fromacceptance and inspection to system integration, maintenance, and operation of systems(technical outsourcing) in a multi-vendor environment. Taking advantage of our system
integration abilities in the carrier grade, nationwide maintenance responsiveness, and technicalskills that can respond to an entire network from mobile communication base stations to the core
network, which we have cultivated through our extensive experience, we will provide services tostrengthen the networks of telecommunications carriers and create new services in partnershipwith them. We will also apply our reliable technical and support skills to the large-scale systemsof other service providers and other companies, such as data centers and cloud computing
infrastructures.
Social Infrastructure BusinessWe position our Social Infrastructure business, which mainly provides infrastructuredevelopment and maintenance and operational services for central and local governments andbroadcasters, as a business that must steadily respond to changes in demand as part of thesocial infrastructure. Currently in this business, active investments in infrastructure are rapidly
rising to ensure the safety and security of residents. Moreover, we expect investments
associated with the national resilience policy and demand from infrastructure development
related to the 2020 Tokyo Olympic Games in the future. We will respond appropriately to thisdemand by leveraging the strength of the NEC Group.
(ii)Reinforcing Corporate Foundation
In our management innovation, we have achieved positive results, aiming to bolster ourearnings power through innovation activities that allow management and employees to work
together onsite in a cohesive manner. We are currently aiming to increase our corporate value by
advancing management innovation activities into new ones targeted at improving ourmanagement quality and cost competitiveness to increase our growth and profits over the
medium to long term, in addition to improving our short-term profitability.
(iii) Reinforcing Compliance and Internal Control
As we announced in January and February 2014, we discovered an act of embezzlement
committed by a former employee of a consolidated subsidiary. In response, we thoroughly
investigated the incident through the investigation committee. In accordance with therecommendations of the committee, we developed a number of measures to prevent a
recurrence and steadily introduced them. In addition, during the fiscal year under review, we took
steps to strengthen the Group management, reorganizing subsidiaries, and entrenching themeasures to prevent a recurrence of the incident.

The Group, comprised of the Company and its consolidated subsidiaries, will strive as a whole
to participate thoroughly in corporate activities based on corporate ethics and a law-abiding spirit,with priority placed on compliance.

6. Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As ofMarch 31, 2015

As ofMarch 31, 2014
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Purchased goods, materials and supplies
Work in process
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation and impairment loss
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation and impairment loss
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation and impairment loss
Tools, furniture and fixtures, net
LandConstruction in progress
Other
Accumulated depreciation and impairment loss
Other, net
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

44,434
95,975
2,308
5,841
5,255
3,596
-59
157,351

38,951
113,921
2,820
7,314
4,778
3,327
-52
171,061

9,748-5,321
4,427
275
-256
18
12,577-9,809
2,768
2,508
687
1,414
-865
549
10,9599,885-5,576
4,309
233
-215
18
13,365-10,201
3,163
2,508
512
1,180
-861
318
10,830

3,502
3,014
6,516

2,728
3,143
5,871

530
0
9,518
5,784
-1,602
14,231
31,708
189,059

550
992
8,578
4,129
-52
14,19930,902201,964(Millions of yen)
As ofMarch 31, 2015

As ofMarch 31, 2014
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Current portion of long-term loans payable
Income taxes payable
Accrued consumption taxes
Advances received
Provision for directors' bonuses
Provision for product warranties
Provision for loss on order received
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Net defined benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets

43,191
1,742
171
4,711
2,266
3,122
104
374
357
13,952
69,994

48,662
1,633
3,168
4,358
3,602
3,175
125
280
163
14,13279,302

4,518
24,152
1,227
29,89899,893

1,349
25,832
1,307
28,488
107,790

13,122
16,65061,474-64
91,182

13,122
16,65064,932-266
94,43825-233-3,459-3,668
1,652
89,166
189,05947
2-1,927-1,878
1,613
94,173201,964(2) Consolidated Statements of Income and Comprehensive Income

Year ended
March 31, 2014
270,326
225,635
44,69030,271
14,418(Millions of yen)
Year ended
March 31, 2015
292,164
244,054
48,11031,951
16,158

38
151
71
392
655

70
121
50
245
486

84
83
370
538
14,534

72
99
282
455
16,189

477
170
648

―
―
―

214
―
―
―
369
285
869
14,313
5,866
12
5,878
8,435
178
8,257

349
413
573
378
―
―
1,715
14,474
5,565
1,129
6,695
7,779
-12
7,791

Year ended
March 31, 2014
8,435

(Millions of yen)
Year ended
March 31, 2015
7,779

12
299
―
312
8,747

19
337
1,532
1,888
9,668

8,500
247

9,580
87

(Consolidated Statements of Income)Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Interest income
Dividend income of insurance
Insurance income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Loss on retirement of non-current assets
Other
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on step acquisitions
Gain on bargain purchaseTotal extraordinary income
Extraordinary losses
Area business restructuring cost
Amortization of goodwill
Retirement benefit expenses
Affiliated companies transfer cost
Loss on sales of shares of subsidiaries and associates
Loss on retirement of non-current assets
Total extraordinary losses
Income before income taxes and minority interests
Income taxes - current
Income taxes - deferred
Total income taxes
Income before minority interests
Minority interests in income (loss)
Net income

Income before minority interests
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to minority interests

(3) Consolidated Statements of Cash Flows

Cash flows from operating activities
Income before income taxes and minority interests
Depreciation
Loss (gain) on sales of shares of subsidiaries and associates
Area business restructuring cost
Retirement benefit expenses
Affiliated companies transfer cost
Loss (gain) on step acquisitions
Amortization of goodwill
Gain on bargain purchase
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in net defined benefit asset
Increase (decrease) in provision for retirement benefits
Increase (decrease) in net defined benefit liability
Increase (decrease) in provision for directors' bonuses
Increase (decrease) in provision for product warranties
Increase (decrease) in provision for loss on order received
Interest and dividend income
Interest expenses
Loss on retirement of non-current assets
Decrease (increase) in notes and accounts receivable - trade
Decrease (increase) in inventories
Remeasurements of defined benefit plans
Increase (decrease) in notes and accounts payable - trade
Increase (decrease) in accrued consumption taxes
Other, net
SubtotalInterest and dividend income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of securities
Proceeds from redemption of securities
Purchase of property, plant and equipment
Proceeds from sales of property, plant and equipment
Purchase of intangible assets
Proceeds from sales of intangible assets
Purchase of investment securities
Payments of loans receivableCollection of loans receivable
Payments for liquidation of subsidiaries
Purchase of shares of subsidiaries
Payments for transfer of business
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Proceeds from long-term loans payable
Repayments of long-term loans payable
Proceeds from sale and purchase of treasury stock, net
Cash dividends paid
Cash dividends paid to minority shareholders
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

Year ended
March 31, 2014

(Millions of yen)
Year ended
March 31, 2015

14,313
2,565
369
214
―
―
-477
331
-170
141
―
-17,641
17,534
8
-186
-673
-46
84
369
3,361
4,261
―
2,827
40
1,812
29,03946-86-5,68523,313

14,474
2,805
―
349
573
378
―
773
―
-1,557
-992
―
-850
20
-93
-193
-80
72
99
-17,156-1,978
1,532
5,307
1,376
3,304
8,164
80
-73
-5,711
2,460――-1,903
1
-849
36
-52
-34
32
―
-1,479-1,857602-5,504-5,0005,000-2,819
16
-786
3
-8
-6
6
-109
―
―
-226
-3,929-1,143
1,500
-898
-7
-2,776-3-495-3,824134
14,11930,31544,434

-213
―
-172
-202
-3,077-16-445-4,127114-5,48244,43438,951

(4) Segment Information
Business Segment Information

Year ended March 31, 2015
Orders received
Sales(1) Sales to third parties(2) Intersegment sales
Total
Operating income and loss

Enterprises Networks
105,311
99,269Carrier Networks
Social Infrastructures
76,44899,767
76,631

Adjustments-

99,2697,171

76,631
7,052

96,782
9,606

19,481
195

Enterprises Networks
91,849Carrier Networks
74,724Social Infrastructures
94,879Others
18,617

Adjustments
---

Total
280,071

90,804--90,804
7,089

78,335--78,335
6,639

82,627--82,627
8,159

18,559--18,559
804-------8,274

270,326--270,326
14,418-19,481

Total
299,097-7,868-96,782Others
17,570--292,164
292,164
16,158Year ended March 31, 2014
Orders received
Sales(1) Sales to third parties(2) Intersegment sales
Total
Operating income and loss