Increase in Inventories and Decline in Operating Cash Flow
First written in FY2017-Q2. 14 of 35 entries say "Restated". Latest entry: 2026-08-14.
Mandarake moved to the "Worse" side of this theme in 2024, 1 year before the typical company in this theme (2025).
The whole theme swung hardest in 2018: 4 of 22 companies on the "Worse" side.
7 other companies' latest entry also says "Worsened".
- FY2026-H1ReframedAnnual report
「Cash generated from operating activities during the six months ended the second quarter was ¥516 million, compared with ¥328 million generated in the same period of the previous year. This was mainly because pretax interim net income of ¥1,287 million exceeded the ¥523 million increase in inventories and ¥259 million in income taxes paid.」
While inventories continued to increase by ¥523 million, operating cash flow rose from ¥328 million in the same period of the previous year to ¥516 million, indicating an improvement in cash generation. - FY2025WorsenedAnnual report
「Cash generated from operating activities was ¥215 million, compared with an inflow of ¥1,085 million in the previous fiscal year. This was mainly because pretax net income of ¥1,748 million and depreciation of ¥239 million exceeded the ¥1,021 million increase in inventories and ¥744 million in income taxes paid.」
While the increase in inventories widened to ¥1,021 million, operating cash flow declined from ¥1,085 million in the previous fiscal year to ¥215 million. - FY2025-H1WorsenedAnnual report
「Cash generated from operating activities during the six months ended the second quarter was ¥328 million, compared with ¥545 million generated in the same period of the previous year. This was mainly because pretax interim net income of ¥914 million, the ¥190 million increase in the provision for directors' retirement benefits and depreciation of ¥114 million exceeded the ¥459 million increase in inventories, ¥393 million in income taxes paid and the ¥74 million increase in trade receivables.」
While the increase in inventories reached ¥459 million, cash flow from operating activities declined from ¥545 million in the same period of the previous year to ¥328 million. - FY2024WorsenedAnnual report
「Cash generated from operating activities was ¥1,085 million, compared with an inflow of ¥1,191 million in the previous fiscal year. This was mainly because pretax net income of ¥2,054 million and depreciation of ¥241 million exceeded the ¥564 million increase in inventories and ¥771 million in income taxes paid.」
While the increase in inventories reached ¥564 million, operating cash flow declined from ¥1,191 million in the previous fiscal year to ¥1,085 million. - FY2024-Q2ReframedAnnual report
「Cash generated from operating activities during the six months ended the second quarter was ¥545 million, compared with ¥483 million generated in the same period of the previous year. This was mainly because pretax quarterly net income of ¥1,183 million and depreciation of ¥120 million exceeded income taxes paid of ¥462 million, the ¥171 million increase in inventories and the ¥73 million increase in trade receivables.」
While inventories continued to increase by ¥171 million, operating cash flow rose from ¥483 million in the same period of the previous year to ¥545 million, indicating an improvement in cash generation. - FY2024-Q1ReframedAnnual report
「As of the end of the first quarter, total assets stood at ¥17,786 million, down ¥133 million from the end of the previous fiscal year. This was mainly due to a ¥329 million decrease in cash and deposits, partly offset by increases of ¥125 million in inventories and ¥70 million in accounts receivable.」
While total assets declined, inventories increased by ¥125 million, shifting the explanation from the previous focus on growth in total assets to one that also includes a decline in cash. - FY2023ReframedAnnual report
「Cash generated from operating activities was ¥1,191 million, compared with an inflow of ¥562 million in the previous fiscal year. This was mainly because pretax net income of ¥1,852 million and depreciation of ¥218 million exceeded the ¥483 million increase in inventories and ¥466 million in income taxes paid.」
While inventories continued to increase by ¥483 million, operating cash flow rose from ¥562 million in the previous fiscal year to ¥1,191 million, indicating an improvement in cash generation. - FY2023-Q3RestatedAnnual report
「As of the end of the third quarter, total assets stood at ¥17,354 million, up ¥682 million from the end of the previous fiscal year. This was mainly due to increases in cash and deposits and inventories.」
The increase in total assets was attributed to higher cash and deposits and inventories. - FY2023-Q2ReframedAnnual report
「Cash generated from operating activities during the six months ended the second quarter was ¥483 million, compared with ¥22 million generated in the same period of the previous year. This was mainly because pretax quarterly net income of ¥945 million and depreciation of ¥107 million exceeded income taxes paid of ¥311 million, the ¥172 million increase in inventories and the ¥44 million decrease in the provision for shareholder benefit programs.」
While inventories continued to increase, operating cash flow rose from ¥22 million in the same period of the previous year to ¥483 million, indicating an improvement in cash generation. - FY2023-Q1RestatedAnnual report
「As of the end of the first quarter, total assets stood at ¥16,840 million, up ¥167 million from the end of the previous fiscal year. This was mainly due to an increase in inventories.」
This reconfirms that the increase in total assets was mainly attributable to higher inventories. - FY2022ReframedAnnual report
「Cash generated from operating activities was ¥562 million, compared with an inflow of ¥392 million in the previous fiscal year. This was mainly because pretax net income of ¥904 million and depreciation of ¥238 million exceeded the ¥508 million increase in inventories and ¥198 million in income taxes paid.」
While inventories continued to increase by ¥508 million, operating cash flow rose from ¥392 million in the previous fiscal year to ¥562 million. - FY2022-Q3RestatedAnnual report
「As of the end of the third quarter, total assets stood at ¥16,626 million, up ¥503 million from the end of the previous fiscal year. This was mainly due to increases in cash and deposits and inventories.」
The increase in total assets was attributed to higher cash and deposits and inventories. No cash flow statement was prepared for the nine months ended the third quarter. - FY2022-Q2WorsenedAnnual report
「Cash generated from operating activities during the six months ended the second quarter was ¥22 million, compared with ¥66 million generated in the same period of the previous year. This was mainly because pretax quarterly net income of ¥349 million and depreciation of ¥117 million exceeded the ¥222 million increase in inventories, ¥177 million in income taxes paid and the ¥42 million decrease in the provision for shareholder benefit programs.」
Operating cash flow remained positive but declined from ¥66 million in the same period of the previous year to ¥22 million, while the increase in inventories was ¥222 million. - FY2022-Q1RestatedAnnual report
「As of the end of the first quarter, total assets stood at ¥16,330 million, up ¥207 million from the end of the previous fiscal year. This was mainly due to an increase in inventories.」
This reconfirms that the ¥207 million increase in total assets was mainly attributable to higher inventories. - FY2021ReframedAnnual report
「Cash generated from operating activities was ¥392 million, compared with an inflow of ¥232 million in the previous fiscal year. This was mainly because pretax net income of ¥564 million and depreciation of ¥235 million exceeded the ¥384 million increase in inventories and ¥61 million in income taxes paid.」
While inventories continued to increase by ¥384 million, operating cash flow rose from ¥232 million in the previous fiscal year to ¥392 million, indicating an improvement in cash generation. - FY2021-Q3RestatedAnnual report
「As of the end of the third quarter, total assets stood at ¥16,214 million, up ¥361 million from the end of the previous fiscal year. This was mainly due to increases in cash and deposits and inventories.」
The increase in total assets was attributed to higher cash and deposits and inventories. - FY2021-Q2ReframedAnnual report
「Cash generated from operating activities during the six months ended the second quarter was ¥66 million, compared with an outflow of ¥186 million in the same period of the previous year. This was mainly because pretax quarterly net income of ¥204 million and depreciation of ¥112 million exceeded the ¥183 million increase in inventories, the ¥43 million increase in trade receivables and the ¥31 million decrease in the provision for shareholder benefit programs.」
While inventories continued to increase by ¥183 million, operating cash flow shifted from an outflow of ¥186 million in the same period of the previous year to an inflow of ¥66 million. - FY2021-Q1RestatedAnnual report
「As of the end of the first quarter, total assets stood at ¥16,201 million, up ¥348 million from the end of the previous fiscal year. This was mainly due to increases in cash and deposits and inventories.」
The increase in total assets was mainly attributed to higher cash and deposits and inventories. - FY2020ReframedAnnual report
「Cash generated from operating activities was ¥232 million, compared with an outflow of ¥39 million in the previous fiscal year. This was mainly because pretax net income of ¥245 million and depreciation of ¥243 million exceeded income taxes paid of ¥300 million.」
Operating cash flow shifted from an outflow of ¥39 million in the previous fiscal year to an inflow of ¥232 million, changing the pattern of cash generation. - FY2020-Q3RestatedAnnual report
「As of the end of the third quarter, total assets stood at ¥16,164 million, up ¥526 million from the end of the previous fiscal year. This was mainly due to increases in cash and deposits and inventories.」
The increase in total assets was attributed to higher cash and deposits and inventories. No cash flow statement was prepared for the nine months ended the third quarter. - FY2020-Q2WorsenedAnnual report
「Cash used in operating activities during the six months ended the second quarter was ¥186 million, compared with ¥112 million used in the same period of the previous year. This was mainly because the ¥317 million increase in inventories and ¥153 million in income taxes paid exceeded pretax quarterly net income of ¥181 million and depreciation of ¥119 million.」
The increase in inventories of ¥317 million, among other factors, widened the operating cash flow outflow from ¥112 million in the same period of the previous year to ¥186 million. - FY2020-Q1RestatedAnnual report
「As of the end of the first quarter, total assets stood at ¥16,131 million, up ¥493 million from the end of the previous fiscal year. This was mainly due to an increase in inventories.」
This reconfirms that the ¥493 million increase in total assets was mainly attributable to higher inventories. - FY2019ReframedAnnual report
「Cash used in operating activities was ¥39 million, compared with ¥567 million of cash inflow in the previous fiscal year. This was mainly because the ¥668 million increase in inventories included in cash outflows and ¥339 million in income taxes paid exceeded profit before income taxes of ¥847 million.」
The increase in inventories widened from ¥377 million in the previous fiscal year to ¥668 million, and operating cash flow shifted from an inflow of ¥567 million in the previous fiscal year to an outflow of ¥39 million. - FY2019-Q3RestatedAnnual report
「As of the end of the third-quarter accounting period, assets had increased by ¥306 million from the end of the previous fiscal year to ¥15,452 million. This was mainly due to an increase in inventories.」
The disclosure reconfirms that the increase in assets was mainly attributable to an increase in inventories, together with the ¥306 million increase. - FY2019-Q2ReframedAnnual report
「Cash used in operating activities during the cumulative second-quarter period was ¥112 million, compared with ¥206 million of cash inflow in the same period of the previous year. This was mainly because the ¥391 million increase in inventories included in cash outflows and ¥176 million in income taxes paid exceeded profit before income taxes of ¥398 million and depreciation of ¥122 million.」
The increase in inventories expanded to ¥391 million, and operating cash flow changed from ¥206 million of cash inflow in the same period of the previous year to ¥112 million of cash outflow. - FY2019-Q1RestatedAnnual report
「As of the end of the first-quarter accounting period, assets had increased by ¥73 million from the end of the previous fiscal year to ¥15,218 million. This was mainly due to an increase in inventories.」
The disclosure reconfirms that the increase in assets was mainly attributable to an increase in inventories. - FY2018RestatedAnnual report
「Cash generated from operating activities was ¥567 million, compared with ¥400 million of cash inflow in the previous fiscal year. This was mainly because profit before income taxes of ¥658 million, depreciation of ¥264 million and an increase in the retirement benefit provision of ¥244 million exceeded the ¥377 million increase in inventories included in cash outflows and ¥316 million in income taxes paid.」
While the ¥377 million increase in inventories continued, cash flow from operating activities rose from ¥400 million to ¥567 million. - FY2018-Q3RestatedAnnual report
「As of the end of the third-quarter accounting period, assets had increased by ¥73 million from the end of the previous fiscal year to ¥14,806 million. This was mainly due to an increase in inventories.」
The disclosure reconfirms that the increase in assets was mainly attributable to an increase in inventories, together with the ¥73 million increase. - FY2018-Q2ReframedAnnual report
「Cash generated from operating activities during the cumulative second-quarter period was ¥206 million, compared with ¥118 million in the same period of the previous year. This was mainly because profit before income taxes of ¥307 million exceeded the ¥100 million increase in inventories included in cash outflows.」
While inventories continued to increase, cash flow from operating activities rose from ¥118 million to ¥206 million year on year, presenting a different pattern from the previous decline. - FY2018-Q1RestatedAnnual report
「As of the end of the first-quarter accounting period, assets had increased by ¥2 million from the end of the previous fiscal year to ¥14,735 million. This was mainly due to an increase in inventories.」
The disclosure reconfirms that the increase in assets was mainly attributable to an increase in inventories. - FY2017ReframedAnnual report
「Cash flow from operating activities increased by ¥29 million, or 8.0%, year on year to ¥400 million. This was mainly because profit before income taxes was ¥690 million, an increase of ¥73 million, or 11.9%, from the same period of the previous year, while the increase in inventories included in cash outflows was ¥290 million.」
While inventories continued to increase, operating cash flow rose 8.0% from ¥370 million in the previous year to ¥400 million, changing from the previous declining trend to an increase. - FY2017-Q3RestatedAnnual report
「As of the end of the third-quarter accounting period, assets had increased by ¥447 million from the end of the previous fiscal year to ¥14,861 million. This was mainly due to an increase in inventories.」
The disclosure reconfirms that the ¥447 million increase in assets was mainly due to an increase in inventories. - FY2017-Q2First statedAnnual report
「As of the end of the second-quarter accounting period, assets had increased by ¥277 million from the end of the previous fiscal year to ¥14,692 million. This was mainly due to an increase in inventories.」
Assets increased by ¥277 million from the end of the previous fiscal year, mainly due to an increase in inventories. Cash flow from operating activities was also ¥118 million, down from ¥258 million in the same period of the previous year.