May 14, 2024

Summary of Consolidated Financial and Business Results
for the Year Ended March 2024（Japanese GAAP）
Oji Holdings Corporation(Code No. 3861 Tokyo Stock Exchange)
https://www.ojiholdings.co.jp/
Hiroyuki Isono, President & Chief Executive Officer
Tadashi Oshima, Executive Officer
03-3563-1111+81-3-3563-1111(overseas)
June 27, 2024
Start of dividend payout:
June 5, 2024
June 27, 2024

Company Name:
URL:
Representative:
Contact:
Telephone:
General meeting of stockholders to be held:
Statutory annual report to be presented:(All yen figures are rounded down to the nearest one million yen)

1. Results for the Year Ended March 31, 2024 (April 1, 2023 - March 31, 2024)(Unaudited)(1) Consolidated Business Results(Figures shown in percentage are ratios compared to the same period of the previous year)

Net sales

Operating income

Millions of yen

FY2023% Millions of yen

1,696,268

FY2022

1,706,641

Note: Comprehensive income

FY2023

Profit per share% Millions of yen(0.6)

72,600(14.4)

16.1

84,818(29.4)% Millions of yen

85,98795,008148,871 million yen [27.1%]

%

(9.5)

50,812(10.0)(29.7)

56,483(35.5)

117,148 million yen [(13.5%)]

FY2022

Ratio of profit toshareholders' equity

Diluted profit per share

Profit attributable toowners of parent

Ordinary income

Ratio of ordinary
income to total assets

Ratio of operating
income to net sales

Yen

Yen

%

%

%

FY2023

51.31

51.30

5.1

3.6

4.3

FY2022

57.00

56.97

6.3

4.4

5.0

Note: Equity in earning of affiliates

FY2023

4,708 million yen

FY2022

2,924 million yen(2) Consolidated Financial Condition
Net assets

Millions of yen

Millions of yen%

Yen

2,442,482

1,095,527

43.7

1,083.06

2,296,018

964,56440.8

945.27

FY2023
FY2022
Note: Shareholders' equity

Shareholders'equity ratio

Total assets

FY2023

1,066,379 million yen

FY2022

Net assets per share

936,949 million yen(3) Consolidated Cash Flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash equivalents

Millions of yen

Millions of yen

Millions of yen

Millions of yen

FY2023202,897(118,003)(84,899)

62,472

FY2022

18,262(123,274)

101,787

56,837at the end of period

2. Dividend Conditions
Dividend per share

Dividend
payout ratio(Consolidated)

Total dividend

End of 3Q End of FY

Dividend
on net assets(Consolidated)

End of 1Q

End of 2Q

Annual(Annual)

Yen

Yen

Yen

Yen

Yen

Millions of yen%%

FY2022

-

8.00

-

8.00

16.00

15,88128.1

1.8

FY2023

-

8.00

-

8.00

16.00

15,83431.2

1.6

FY2024(Forecast)

-

12.00

-

12.00

24.00

31.5

3. Consolidated Forecasts for the Year Ending March 2025 (April 1, 2024-March 31, 2025)(Figures shown in percentage for the full year are ratios compared to the previous year,
Figures shown in percentage for the first half are ratios compared to the same period of the previous year)

Net sales

Operating income

Millions of yen% Millions of yen

Profit attributable toowners of parent

Ordinary income%

Millions of yen% Millions of yen

Net income per share%

YenFirst half

940,000

11.0

37,000(4.7)

44,000(13.4)

32,5002.7

33.01

Full year

1,950,000

15.0

95,00030.9

100,000

16.3

75,000

47.6

76.17

4. Notes(1) Changes in important subsidiaries(changes regarding specified subsidiaries accompanying changes in the scope of consolidation) :None(2) Changes in accounting methods compared with recent consolidated accounting periods(i) Changes due to accounting standard changes :None(ii) Changes besides (i) :None(iii) Accounting estimate change :None(iv) Restatement :None(3) Outstanding balance of issued shares (common stock)(i) Outstanding balance of issued shares at the end of fiscal year (including treasury shares)
1,014,381,817
FY2023
FY2022(ii) Outstanding balance of treasury shares at the end of fiscal year
FY202329,784,280
FY2022(iii) Weighted average number of shares during fiscal year
FY2023
990,218,224
FY2022

1,014,381,817
23,179,622
990,976,801(Reference)
1. Results for the Year Ended March 31, 2024 (April 1, 2023 - March 31, 2024)(1) Non-consolidated Business Results(Figures shown in percentage are ratios compared to the previous year)

Net sales

Operating profit

Ordinary profit

ProfitMillions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

FY202339,220(17.2)

21,237(30.0)

22,638(21.1)

23,020(8.3)

FY202247,39217.5

30,35923.3

28,703

11.4

25,102

5.0

Profit per share

Diluted profit per share

Yen

Yen

FY2023

23.24

23.24

FY2022

25.33

25.31

(2) Non-consolidated Financial Condition
Net sales

Operating profit

Ordinary profit

ProfitMillions of yen

Millions of yen

Millions of yen

Millions of yen

FY20231,230,054

446,37636.3

453.16FY2022

1,209,188

Note: Shareholders' equity

FY2023422,133
446,278 million yen

34.9
FY2022425.65421,998 million yen

NOTICE・ This document is out of the scope of the audit procedures required by Financial Instruments and Exchange Act, and audit procedures forconsolidated financial statement have not been finished as of the date of publication.
・ Forecasts released are based on expectations of future economic conditions as of the date of publication. The actual results may differ
drastically from these forecasts due to various factors that may arise in the future.
・ This document is an excerpt translation of the Japanese original and is only for reference purposes. In the event of any discrepancy
between this translation and the Japanese original, the latter shall prevail.
・ Supplementary explanations on business results will be made available on the Company's website on Tuesday, May 14, 2024 .

1. Qualitative Information Concerning Business Performance
Business Performance for the Year Ended March 31, 2024 (April 1, 2023 - March 31, 2024, "FY2023")
Net Sales
Billions of yen

Operating Profit

Ordinary Profit

Billions of yen

Billions of yen

Profit Attributable to
Owners of Parent
Billions of yen

Profit Per ShareYen

FY2023

1,696.3

72.6

86.0

50.8

51.31

FY2022

1,706.6

84.8

95.0

56.5

57.00

Increase (Decrease)(10.4)(12.2)

(9.0)

(5.7)

Increase (Decrease)(0.6%)(14.4%)(9.5%)(10.0%)The Oji Group has set the basic policy of "Toward Further Growth and Evolution" as the Long-term Vision for 2030, and is
promoting "Initiatives for Environmental Issues -Sustainability-", "Initiatives for Profitability Improvement -Profitability-" and"Initiatives for Product Development -Green Innovation-". As the milestones of the Long-term Vision, we have set FY2022-2024
Medium-term Management Plan, which aims to achieve the consolidated operating profit of ¥150.0 billion or more by FY2024 andstably maintain consolidated profit attributable to owners of parent of ¥100.0 billion or more.
Specifically, we will continue our efforts on environmental issues by promoting greenhouse gas reduction and expanding net CO2
absorption by forests, as countermeasures against climate change. At the same time, we will enhance the value of our business bydeepening the existing businesses through the establishment of an optimal production system, and expanding the highly-expectedbusinesses including overseas packaging business and eco-friendly products. In April 2024, as part of "Initiatives for Profitability
Improvement -Profitability-", we have completed the acquisition of Walki (Head Office: Finland), a leading company with advanced
technologies in material conversion especially for paper-based sustainable solutions. The purpose of the acquisition is to build andexpand a platform for our packaging business in Europe as one of the leaders in the packaging sector. Furthermore, we will develop
and quickly commercialize new wood-derived products and materials such as eco-friendly materials and products, based on a range ofcore technologies we have cultivated through paper manufacturing and forestation. We will contribute to society as a company that"grows and manages the sustainable forest, develops and delivers the products from renewable forest and brings this world a brighter
future filled with hope".
In addition, in December 2023, we announced our "Initiatives to Enhance Corporate Value". We will improve return on capital,
promote initiatives that lead to sustainable growth, and strengthen information dissemination in order to enhance long-term corporate
value and fulfil our social mission based on our Purpose.
Consolidated net sales for FY2023 decreased by ¥10.4 billion to ¥1,696.3 billion (year-on-year decrease of 0.6%) mainly due to theimpact of the cyclone damage at Pan Pac Forest Products Ltd. in New Zealand and deteriorating pulp market conditions, despite theprice revision and other measures taken in Japan.
Consolidated operating profit decreased by ¥12.2 billion to ¥72.6 billion (year-on-year decrease of 14.4%) mainly due to deteriorating
overseas pulp market conditions, though in Japan, the price revision and cost reduction made up for a decline in sales volumes as aresult of consumption restraint caused by inflation, etc. Ordinary profit decreased by ¥9.0 billion to ¥86.0 billion (year-on-year
decrease of 9.5%) despite foreign exchange gains from revaluation of foreign currency-denominated receivables and payables. Profit
before taxes decreased by ¥7.0 billion to ¥77.6 billion (year-on-year decrease of 8.3%), and profit attributable to owners of parent
decreased by ¥5.7 billion to ¥50.8 billion (year-on-year decrease of 10.0%).
Overseas sales ratio decreased by 2.7 points from the same periods in the previous year to 34.9%.

1 / 10Overview of Business Performance for FY2023 by Segment(I) Business Performance by Segment(Unit: Billions of yen)
Net Sales
FY2022

ReportingSegment

Operating Profit（Loss）

FY2023

Increase(Decrease)

FY2022

Increase(Decrease)

FY2023

Household &Industrial Materials

780.5

798.7

2.3%

(1.2)

21.2

－

Functional Materials

219.9

227.5

3.5%

15.5

9.1

(41.4%)

423.8

359.6

(15.2%)

68.5

19.6

(71.4%)

281.0

299.4

6.5%

(4.8)

16.8

－

1,705.2

1,685.2(1.2%)

78.0

66.7(14.5%)

Forest Resources &Environment Marketing
Printing &Communications Media
Total
Others

318.1

316.1

(0.6%)

8.4

5.8(31.5%)

Total

2,023.3

2,001.3(1.1%)

86.5

72.5(16.2%)

Adjustment (*)(316.7)(305.0)Consolidated total

1,706.6

1,696.3(0.6%)

(1.6)

0.1

84.8

72.6

(14.4%)*Adjustment is mainly those concerning internal transactions.
(II) Overview of Business Performance by Segment
The Oji Group's four reporting segments are: "Household and Industrial Materials", "Functional Materials", "Forest Resources andEnvironment Marketing", and "Printing and Communications Media". Each of the reporting segment consists of units that arerecognized to be similar in terms of economic characteristics, manufacturing methods or processes of products, markets in which
products are sold, and types of customers, among the constituent units of the Oji Group.
Business segments that are not included in the reporting segments are classified as "Others".

Major business lineup for the segments are as follows.
- Household and Industrial Materials:
Containerboard/corrugated containers, boxboard/folding cartons, packing paper/paper bags, household paper, disposable diapers, etc.
- Functional Materials:
Specialty paper, thermal paper, adhesive materials, film, etc.
- Forest Resources and Environment Marketing:Pulp, energy, forest plantation/lumber processing, etc.
- Printing and Communications Media:
Newsprint, printing/publication/communication paper, etc.
- Others:
Trading business, logistics, engineering, real estate, liquid packaging cartons, etc.

2 / 10

○Household and Industrial Materials
In FY2023, net sales amounted to ¥798.7 billion (year-on-year increase of 2.3%), and operating profit was ¥21.2 billion (year-onyear increase of ¥22.5 billion).
Regarding domestic business, although sales volumes of corrugated container, boxboard, and household paper decreased from theprevious year due to consumption restraint caused by inflation, net sales increased as a result of the price revision. As for disposable
diapers, net sales of those for babies remained almost unchanged, while sales of those for adults increased from the previous year.
Regarding overseas business, in line with our strategy to further expand business in Southeast Asia and Oceania, sales volume ofcontainerboard increased in Southeast Asia due to improved operating rate of the new containerboard machine started in October
2021. However, net sales decreased from the previous year due to deteriorating market conditions. Net sales of corrugated container
also decreased due to sluggish demand in Southeast Asia despite the price revision in Oceania. As for disposable diapers, net sales
increased due to sales expansion in Malaysia.

○Functional Materials
In FY2023, net sales amounted to ¥227.5 billion (year-on-year increase of 3.5%), and operating profit was ¥9.1 billion (year-on-year
decrease of 41.4%).
Regarding domestic business, as for specialty paper, despite a decline in sales volume of release paper and its base paper in response
to sluggish demand for electronic devices, net sales increased from the previous year due to sales expansion of strategic products,
such as heat-sealable paper for major online retailers and non-fluorine oil-resistant paper, and the price revision. As for thermal
paper, net sales increased from the previous year due to the price revision, although sales volume decreased due to the ongoinginventory adjustment since the second half of FY2022.
Regarding overseas business, sales volume of thermal paper decreased from the previous year due to inventory reduction caused byrising interest rates and sluggish demand, but net sales increased due to the price revision, etc.

○Forest Resources and Environment Marketing
In FY2023, net sales amounted to ¥359.6 billion (year-on-year decrease of 15.2%), and operating profit was ¥19.6 billion (year-onyear decrease of 71.4%).
Regarding domestic business, net sales almost remained unchanged from the previous year due to weak demand for lumber forconstruction and packaging in the lumber business, despite the steady sales of dissolving pulp and the increase in sales due to thestart of operation of a new biomass power plant in Tokushima Prefecture from December 2022.
Regarding overseas business, net sales of pulp business and lumber business decreased from the previous year due to a decline inpulp market, as well as manufacturing facilities under restoration at Pan Pac Forest Products Ltd., in New Zealand from the impact
of cyclone damage in February 2023.

○Printing and Communications MediaIn FY2023, net sales amounted to ¥299.4 billion (year-on-year increase of 6.5%), and operating profit was ¥16.8 billion (year-onyear increase of ¥21.6 billion).
Regarding domestic business, net sales of newsprint, printing and communication paper increased from the previous year due to theprice revision, although demand continued to decline.
Regarding overseas business, net sales at Jiangsu Oji Paper Co., Ltd., remained almost unchanged from the previous year due to theslow economic recovery following the end of the Zero-COVID policy.

3 / 10Forecast for the Year Ending March 31, 2025 (April 1, 2024 - March 31, 2025, "FY2024")
Net sales

Operating income

Billions of yen

Ordinary income

Billions of yen

Billions of yen

Profit attributableto owners of parent
Billions of yen

Profit per share
YenFirst Half of FY2024

940.0

37.0

44.0

32.5

33.01

First Half of FY2023

847.1

38.8

50.8

31.6

31.92

Increase (Decrease)

92.9

(1.8)

(6.8)

0.9

Increase (Decrease)

11.0%(4.7%)(13.4%)

2.7%

FY2024

1,950.0

95.0

100.0

75.0

76.17

FY2023

1,696.3

72.6

86.0

50.8

51.31

Increase (Decrease)

253.7

22.4

14.0

24.2

Increase (Decrease)

15.0%

30.9%

16.3%

47.6%

<FY2024 Forecast and Future Outlook >The forecast for the next fiscal year is based on net sales of ¥1,950.0 billion, operating profit of ¥95.0 billion, ordinary
profit of ¥100.0 billion, and net profit attributable to owners of parent of ¥75.0 billion.
The final year of our FY2022-2024 Medium-term Management Plan has begun. We will continue to strive for further
enhancement of our corporate value by steadily implementing our "Initiatives for Environmental Issues -Sustainability-","Initiatives for Profitability Improvement -Profitability-" and "Initiatives for Product Development -Green Innovation-"and pursuing sustainable evolution.
The assumed exchange rates for FY2024 forecast are as follows:
Exchange rates(Reference) Sensitivity for operating income

JPY/USD

155.0 Approx. ¥0.66 billion with a fluctuation of USD by 1% (strong USD: ‐)BRL/USD

5.10 Approx. ¥0.60 billion with a fluctuation of USD by 1% (strong USD: +)NZD/USD

1.66 Approx. ¥0.94 billion with a fluctuation of USD by 1% (strong USD: +)4 / 102. Outline of Business Performance and Financial Situation
Billions of yen

Business Performance
FY2023

Forecasts for FY2024

Increase(Decrease)from same periods in
FY2022Net Sales

1,696.3(10.4)

Domestic

1,104.1

39.5

Overseas592.2(49.9)

34.9%(2.7%)

Operating Profit

72.6

Ordinary Profit

86.0

Profit attributable to owners of parent

Increase(Decrease)from FY2023

1,950.0

253.7(12.2)

95.0

22.4

(9.0)

100.0

14.0

50.8

(5.7)

75.0

24.2

Depreciation

79.5

6.5

92.0

12.5

Capital expenditure

104.5

14.6

102.4

(2.1)

ratio

Billions of yen

Average foreign exchange rate
FY2023

Forecasts for FY2024

Increase(Decrease)from same periods in
FY2022

Increase(Decrease)from FY2023

JPY／USD April to March

144.6

9.1

155.0

10.4

BRL／USD January to December

5.00(0.17)

5.10

0.10

NZD／USD January to December

1.63

0.05

1.66

0.03

CNY／USD January to December

7.09

0.35

7.20

0.11

JPY ／ EUR January to December

152.0

14.0

165.0

13.0

Financial situation

Billions of yen
Mar 31,2024
Increase(Decrease)from Mar 31,2023

Total assets

2,442.5

146.5

Net assets

1,095.5

131.0Interest bearing debts

736.7(51.6)Net debts (Interest bearing debts - Cash and cash equivalents at end of period)

673.9(57.4)

Consolidated Statements of Cash Flows

Billions of yen
FY2023
Increase(Decrease) from FY2022

Cash flows from operating activities

202.9

184.6

Cash flows from investing activities(118.0)

5.3

Cash flows from financing activities(84.9)(186.7)

Number of employees

personMar 31,2024
Increase(Decrease)from Mar 31,2023

Number of employees

38,322477

Domestic

16,28391

Overseas

22,039386

5 / 103. Consolidated Financial Statements and Notes(1)Consolidated balance sheets(Unit : Millions of yen)

FY2022
Mar 31,2023
AssetsCurrent assets
Cash and deposits
Notes receivable - trade
Accounts receivable - trade
Contract assets
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Short-term loans receivable
Accounts receivable - other
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Land
Forests
Standing timber
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Long-term prepaid expenses
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

6 / 10

FY2023
Mar 31,2024

50,77464,768309,604
2,995
6,299
117,473
23,510140,337
4,101
33,87736,717(1,791)
788,670

58,08873,016
296,058
1,833
4,772
124,625
24,637
136,181
4,277
25,481
27,143(2,828)773,287

746,007(529,962)
216,0452,629,592(2,221,722)
407,869
63,934(57,380)
6,553
242,287
133,123
111,352
76,573(29,209)47,363
43,6391,208,234

766,409(543,962)
222,446
2,707,330(2,278,379)
428,951
66,273(59,165)
7,108
246,198
143,154
120,719
84,014(32,199)
51,814
53,1091,273,504

11,868
14,11925,98818,081
16,37334,455

180,067
4,693
2,760
53,837
6,816
26,921(1,972)
273,124
1,507,347
2,296,018

217,870
3,837
2,662
96,2509,893
32,559(1,838)361,235
1,669,195
2,442,482

(Unit : Millions of yen)

FY2022
Mar 31,2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term borrowings
Commercial papers
Current portion of bonds payable
Accounts payable - otherAccrued expenses
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term borrowings
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Retirement benefit liability
Long-term deposits received
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

7 / 10

FY2023
Mar 31,2024

251,176
226,739
86,000－20,11149,80916,64336,591
687,070

274,659
216,476
30,00010,00021,62853,05422,01740,346
668,183

155,000
320,599
69,283
7,732
53,5376,620
31,609644,383
1,331,453

145,000
335,240
95,194
7,730
54,394
6,420
34,789678,771
1,346,954

103,880
85,892607,593(12,949)
784,418

103,880
85,740645,268(16,575)
818,313

41,573474
5,716
85,253
19,514
152,531134
27,480964,564
2,296,018

64,656
1,524
5,713
124,922
51,249248,066
97
29,049
1,095,527
2,442,482

(2)Consolidated statements of income and comprehensive income
Consolidated statements of income(Unit : Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Freight and incidental costs
Storage costs
Employees' salaries
Retirement benefit expenses
Depreciation
Other
Total selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Share of profit of entities accounted for using equity method
Gain on valuation of derivatives
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Insurance claim income
Gain on sale of non-current assets
Gain on sale of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on disaster
Impairment losses
Provision for loss on litigation
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

8 / 10

FY2022
Apr '22 - Mar '23

FY2023
Apr '23 - Mar '24

1,706,641
1,366,642
339,999

1,696,268
1,372,191
324,076

135,135
6,747
55,105695
6,080
51,417
255,181
84,818

121,912
6,885
59,561
812
6,176
56,126
251,476
72,600

1,367
3,632
8,337
2,924
2,838
6,325
25,427

3,041
3,895
14,570
4,708
－
7,340
33,556

6,310
8,925
15,23695,0086,770
13,39920,17085,987

4,992
11
1,065
258
6,327

4,810
2,191
1,467
1,525
9,995

7,634
31
1,839
7,213
16,71884,617
26,43441
26,47658,141
1,657
56,483

10,763
3,980
－
3,639
18,38377,59927,484(2,202)25,28252,317
1,505
50,812

Consolidated statements of comprehensive income(Unit : Millions of yen)

FY2022
Apr '22 - Mar '23
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities accounted forusing equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

9 / 10

FY2023
Apr '23 - Mar '24

58,141

52,317

10,707(1,611)
56,129(7,735)
1,516

21,4391,031
40,37527,873
5,834

59,007
117,148

96,553
148,871

114,664
2,484

146,492
2,378

(3)Consolidated Statements of Cash Flows(Unit : Millions of yen)

Cash flows from operating activities
Profit before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Depletion of standing timber
Increase (decrease) in allowance for doubtful accounts
Decrease (increase) in retirement benefit asset
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using equity method
Loss (gain) on sale of investment securities
Loss (gain) on sale of non-current assets
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of property, plant and equipment and intangible assets
Proceeds from sale of property, plant and equipment and intangible assets
Purchase of investment securities
Proceeds from sale and redemption of investment securities
Loan advances
Proceeds from collection of loans receivable
Purchase of shares of subsidiaries resulting in change in scope of consolidation
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Net increase (decrease) in short-term borrowings
Net increase (decrease) in commercial papers
Proceeds from long-term borrowings
Repayments of long-term borrowings
Purchase of shares of subsidiaries not resulting in change in scope of consolidation
Repayments of lease liabilities
Purchase of treasury shares
Dividends paid
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
Increase in cash and cash equivalents resulting from inclusion of subsidiaries in consolidation
Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation
Cash and cash equivalents at end of period

10 / 10

FY2022
Apr '22 - Mar '23

FY2023
Apr '23 - Mar '24

84,61773,034
31
1,058
7,895
911
(3,240)(1,415)(5,000)6,310(6,911)(2,924)(1,052)
142(43,889)(42,615)
9,533(13,844)
62,642
7,731(5,169)(46,940)
18,262

77,59979,5293,980
2,253
11,520366(3,073)676(6,937)
6,770(11,366)(4,708)(1,131)(2,084)
17,496
8,705
16,827
17,434
213,860
8,178(5,495)(13,645)
202,897(94,109)555(1,747)
3,404
(911)
2,484
(32,864)(85)(123,274)(115,019)
5,572(2,161)
5,495
(637)
1,087
(12,671)331(118,003)

33,31086,00064,655(59,881)(307)(6,618)(295)(14,883)(192)
101,787
4,637
1,413
55,474－(50)
56,837(11,762)(56,000)
87,684(75,501)(1,162)(7,287)(4,802)(15,887)(179)(84,899)
3,511
3,506
56,8372,341(212)
62,472