| 2024/3 | 2025/3 |
Cash flows from operating activities | | |
Profit before income taxes | 3,121,647 | 992,444 |
Depreciation | 191,466 | 186,363 |
Increase (decrease) in provision for bonuses | 69,634 | -31,217 |
Increase (decrease) in allowance for doubtful accounts | 55,474 | 33,819 |
Increase (decrease) in provision for product warranties | -970 | -546 |
Increase (decrease) in provision for loss on construction contracts | 23,366 | 64,531 |
Interest and dividend income | -49,729 | -46,598 |
Interest expenses | 7,509 | 3,475 |
Office relocation expenses | 21,046 | - |
Loss (gain) on sale of investment securities | -1,653,641 | -50,193 |
Loss (gain) on sale of non-current assets | -2,847 | 420 |
Loss on retirement of non-current assets | 210 | 2,088 |
Decrease (increase) in accounts receivable - trade, and contract assets | -687,758 | -43,831 |
Decrease (increase) in inventories | 10,721 | -138,763 |
Decrease (increase) in accounts receivable - other | 7,217 | -12,708 |
Decrease (increase) in advance payments to suppliers | -34,905 | -261,303 |
Increase (decrease) in trade payables | 335,936 | -105,538 |
Increase/decrease in consumption taxes payable/consumption taxes refund receivable | 24,932 | 84,238 |
Increase (decrease) in accounts payable - other | 48,002 | -61,549 |
Increase (decrease) in contract liabilities | 1,127,091 | 1,359,365 |
Other, net | -134,188 | 29,774 |
Subtotal | 2,480,217 | 2,004,270 |
Interest and dividends received | 49,729 | 46,598 |
Interest paid | -7,521 | -3,412 |
Payments of relocation expenses | -16,812 | - |
Income taxes paid | -105,948 | -1,205,074 |
Income taxes refund | 133,231 | 35,801 |
Net cash provided by (used in) operating activities | 2,532,895 | 878,184 |
Cash flows from investing activities | | |
Purchase of property, plant and equipment | -162,529 | -106,212 |
Proceeds from sale of property, plant and equipment | 2,918 | 11,937 |
Purchase of intangible assets | -25,454 | -5,984 |
Proceeds from sale of investment securities | 1,653,641 | 73,536 |
Other, net | -60,680 | 16,903 |
Net cash provided by (used in) investing activities | 1,407,895 | -9,820 |
Cash flows from financing activities | | |
Net increase (decrease) in short-term borrowings | 100,000 | -200,000 |
Repayments of long-term borrowings | -107,752 | -9,295 |
Repayments of lease liabilities | -5,382 | -8,378 |
Purchase of treasury shares | - | -73 |
Dividends paid | -145,154 | -635,175 |
Net cash provided by (used in) financing activities | -158,289 | -852,921 |
Effect of exchange rate change on cash and cash equivalents | 8,918 | -1,546 |
Net increase (decrease) in cash and cash equivalents | 3,791,420 | 13,896 |
Cash and cash equivalents at beginning of period | 8,208,538 | 11,999,958 |
Cash and cash equivalents at end of period | 11,999,958 | 12,013,854 |