Pressure on Operating Cash Flow and Liquidity from Increases in Trade Receivables
First written in FY2016. 17 of 39 entries say "Mitigated", first in FY2017-Q1. Latest entry: 2026-08-07.
The whole theme swung hardest in 2022: 9 of 33 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- FY2026MitigatedAnnual report
「Cash generated from operating activities amounted to ¥4,363 million, compared with ¥20,202 million used in the previous fiscal year. This was mainly attributable to a ¥7,651 million decrease in contract liabilities, while trade and other receivables decreased by ¥6,691 million and income before income taxes amounted to ¥5,645 million, among other factors.」
Cash flow from operating activities shifted from ¥20.2 billion used in the previous fiscal year to ¥4.3 billion generated, while trade and other receivables decreased by ¥6,691 million. The working capital and liquidity burden eased during the current fiscal year, but cash and cash equivalents decreased by ¥6,606 million. - 2026-05-14MitigatedEarnings
「営業活動の結果獲得した資金は、4,679百万円（前期は20,202百万円の使用）となりました。」
前期に拡大していた営業キャッシュ・フローの流動性負荷が、当期は資金獲得へ転じて緩和した。 - FY2026-H1MitigatedAnnual report
「Cash generated from operating activities amounted to ¥5,455 million, compared with ¥13,174 million used in the same period of the previous year. This was mainly attributable to a ¥14,093 million decrease in trade and other receivables, while contract liabilities decreased by ¥4,967 million and trade payables decreased by ¥3,793 million, among other factors.」
Cash flow from operating activities shifted from ¥13,174 million used in the same period of the previous year to ¥5,455 million generated. Trade and other receivables also decreased by ¥14,093 million, easing the working capital and liquidity burden that had increased in the previous fiscal year during the current interim period. - FY2025WorsenedAnnual report
「Cash used in operating activities amounted to ¥20,202 million, compared with ¥18,662 million used in the previous fiscal year. This was mainly attributable to income before income taxes of ¥13,399 million, a ¥8,216 million decrease in inventories, a ¥3,803 million increase in contract liabilities and a ¥941 million increase in other liabilities, while trade and other receivables increased by ¥46,946 million, among other factors.」
Cash used in operating activities increased from ¥18,663 million in the previous fiscal year to ¥20,203 million. In addition to the ¥46,946 million increase in trade and other receivables, short-term borrowings also increased to ¥52,158 million, further increasing the burden on working capital and liquidity. - FY2025-H1WorsenedAnnual report
「Funds used in operating activities amounted to ¥11,719 million, compared with ¥3,673 million used in the same period of the previous year. This was mainly due to a ¥22,560 million increase in inventories, partly offset by a ¥5,981 million decrease in trade receivables, a ¥3,323 million increase in contract liabilities and a ¥1,689 million increase in other liabilities, among other factors.」
Cash used in operating activities increased from ¥3,673 million in the same period of the previous year to ¥11,719 million. The burden on working capital and liquidity has increased further, as inventories rose by ¥22,560 million and short-term borrowings also increased by ¥14,648 million. - FY2024WorsenedAnnual report
「Funds used in operating activities amounted to ¥18,662 million, compared with ¥4,681 million generated in the previous period. This was mainly due to increases of ¥21,728 million in trade receivables and ¥8,964 million in inventories, partly offset by profit before income taxes and other adjustments of ¥10,827 million and a ¥2,169 million decrease in advances paid, among other factors.」
Operating cash flow changed from ¥4,681 million generated to ¥18,662 million used, with increases of ¥21,728 million in trade receivables and ¥8,964 million in inventories emerging as liquidity pressure. Short-term borrowings also increased to ¥22,380 million. - FY2024-Q3WorsenedAnnual report
「Total assets at the end of the third quarter increased by ¥18,752 million from the end of the previous consolidated fiscal year to ¥60,671 million. This was mainly due to an ¥18,304 million increase in notes receivable, accounts receivable and contract assets, among other factors. Total liabilities increased by ¥13,744 million from the end of the previous consolidated fiscal year to ¥34,262 million. This was mainly due to a ¥15,864 million increase in short-term borrowings, among other factors.」
Notes receivable, accounts receivable and contract assets increased by ¥18,304 million, and short-term borrowings increased by ¥15,864 million, indicating greater pressure on working capital and funding than at the end of the previous period. - FY2024-Q2WorsenedAnnual report
「Funds used in operating activities amounted to ¥3,673 million, compared with ¥8,464 million generated in the same period of the previous year. This was mainly due to a ¥5,540 million decrease in contract liabilities, among other factors.」
Operating cash flow changed from ¥8,464 million generated in the same period of the previous year to ¥3,673 million used. Notes and accounts receivable and contract assets increased by ¥5,667 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥11,484 million, indicating renewed pressure on working capital and liquidity. - FY2024-Q1WorsenedAnnual report
「Total assets at the end of the first quarter decreased by ¥1,778 million from the end of the previous consolidated fiscal year to ¥40,140 million. This was mainly due to a ¥2,002 million decrease in cash and deposits, among other factors. Total liabilities decreased by ¥2,484 million from the end of the previous consolidated fiscal year to ¥18,033 million. This was mainly due to a ¥1,195 million increase in short-term borrowings, partly offset by a ¥4,075 million decrease in contract liabilities, among other factors.」
Cash and deposits decreased by ¥2,002 million, while short-term borrowings increased by ¥1,195 million. Contract liabilities also decreased by ¥4,075 million, indicating renewed liquidity pressure in the quarterly cash balance and funding structure. - FY2023MitigatedAnnual report
「Funds generated from operating activities amounted to ¥4,681 million, compared with ¥1,132 million generated in the previous period. This was mainly due to profit before income taxes and other adjustments of ¥7,450 million and a ¥5,051 million increase in contract liabilities, partly offset by increases of ¥3,295 million in trade receivables and ¥1,669 million in advances paid, among other factors.」
Operating cash flow increased from ¥1,132 million to ¥4,681 million generated, and cash and cash equivalents also reached ¥13,216 million. However, working capital pressure from increases in trade receivables and related items remains. - FY2023-Q3MitigatedAnnual report
「Total assets at the end of the third quarter increased by ¥12,925 million from the end of the previous consolidated fiscal year to ¥40,017 million. This was mainly due to increases of ¥5,949 million in cash and deposits, ¥2,323 million in work in process and ¥2,045 million in other current assets, among other factors. Total liabilities increased by ¥11,119 million from the end of the previous consolidated fiscal year to ¥22,278 million. This was mainly due to increases of ¥9,042 million in contract liabilities and ¥1,811 million in notes and accounts payable, among other factors.」
Cash and deposits increased by ¥5,949 million, and contract liabilities also increased by ¥9,042 million. Although work in process and notes and accounts receivable increased, the higher cash balance and cash inflow from contract liabilities indicate easing liquidity pressure. - FY2023-Q2MitigatedAnnual report
「Funds generated from operating activities amounted to ¥8,464 million, compared with ¥1,442 million used in the same period of the previous year. This was mainly due to a ¥9,323 million increase in contract liabilities, among other factors.」
Operating cash flow changed from ¥1,442 million used in the same period of the previous year to ¥8,464 million generated, with the increase in contract liabilities contributing to cash generation. Cash and cash equivalents also increased to ¥17,649 million. - FY2023-Q1WorsenedAnnual report
「Total assets at the end of the first quarter increased by ¥1,102 million from the end of the previous consolidated fiscal year to ¥28,194 million. This was mainly due to a ¥1,354 million increase in notes receivable, accounts receivable and contract assets, among other factors.」
Notes receivable, accounts receivable and contract assets increased by ¥1,354 million, again indicating working capital and liquidity pressure from the increase in trade receivables and related items. Cash and deposits also decreased from ¥10,082 million at the end of the previous period to ¥7,502 million. - FY2022WorsenedAnnual report
「Funds generated from operating activities amounted to ¥1,132 million, compared with ¥5,955 million generated in the previous period. This was mainly due to profit before income taxes and other adjustments of ¥4,578 million, partly offset by income taxes paid of ¥1,556 million, among other factors.」
Operating cash flow decreased from ¥5,955 million in the previous period to ¥1,132 million. Notes and accounts receivable, contract assets and related items also increased by a total of ¥1,149 million, again indicating working capital pressure. - FY2022-Q3Increase in receivables and work in processAnnual report
「Total assets at the end of the third quarter increased by ¥3,194 million from the end of the previous consolidated fiscal year to ¥27,953 million. This was mainly due to increases of ¥1,066 million in notes receivable, accounts receivable and contract assets and ¥838 million in work in process, among other factors.」
Notes receivable, accounts receivable and contract assets increased by ¥1,066 million, and work in process increased by ¥838 million. No quarterly consolidated cash flow statement was prepared, so the impact on liquidity is shown as an increase in operating assets. - FY2022-Q2WorsenedAnnual report
「Funds used in operating activities amounted to ¥1,442 million, compared with ¥2,519 million generated in the same period of the previous year. This was mainly due to a ¥1,707 million increase in trade receivables, among other factors.」
Operating cash flow changed from ¥2,519 million generated in the same period of the previous year to ¥1,442 million used, with the ¥1,707 million increase in trade receivables again appearing as liquidity pressure. - FY2021MitigatedAnnual report
「Funds generated from operating activities amounted to ¥5,955 million, compared with ¥238 million used in the previous period.」
Operating cash flow changed from cash used in the previous period to ¥5,955 million generated, while cash and cash equivalents also increased to ¥7,962 million. - FY2021-Q3MitigatedAnnual report
「Total assets at the end of the third quarter increased by ¥3,194 million from the end of the previous consolidated fiscal year to ¥22,816 million. This was mainly due to a ¥4,373 million increase in cash and deposits, among other factors.」
Cash and deposits increased by ¥4,373 million, and total assets also increased by ¥3,194 million. Cash balances are improving in response to liquidity pressure from increases in trade receivables. - FY2021-Q2MitigatedAnnual report
「Funds generated from operating activities amounted to ¥2,519 million, compared with ¥577 million generated in the same period of the previous year. This was mainly due to quarterly profit before income taxes and other adjustments of ¥1,571 million, a ¥1,016 million increase in advances received, a ¥1,015 million increase in trade payables and a ¥1,006 million decrease in trade receivables, partly offset by a ¥1,894 million increase in inventories, among other factors.」
Operating cash flow increased from ¥577 million in the same period of the previous year to ¥2,519 million, and liquidity pressure eased as trade receivables also decreased by ¥1,006.97 million. However, inventories increased by ¥1,894.14 million, and the disclosure does not state that working capital pressure has been fully eliminated. - FY2021-Q1Decrease in trade receivables and increases in work in process and short-term borrowingsAnnual report
「Total assets at the end of the first quarter decreased by ¥230 million from the end of the previous consolidated fiscal year to ¥19,392 million. This was mainly due to a ¥1,491 million increase in work in process, partly offset by a ¥1,976 million decrease in notes and accounts receivable, among other factors. Total liabilities decreased by ¥130 million from the end of the previous consolidated fiscal year to ¥9,177 million. This was mainly due to a ¥398 million increase in short-term borrowings, partly offset by a ¥240 million decrease in other current liabilities, among other factors.」
Trade receivables decreased by ¥1,976 million, easing working capital pressure from increases in trade receivables, while work in process increased by ¥1,491 million and short-term borrowings by ¥398 million, changing the composition of working capital and funding. - FY2020WorsenedAnnual report
「Funds used in operating activities amounted to ¥238 million, compared with ¥3,579 million generated in the previous period. This was mainly due to an increase in trade receivables of ¥2,723 million, partly offset by profit before income taxes and other adjustments of ¥1,789 million.」
Operating cash flow changed from ¥3,579 million generated in the previous period to ¥238.44 million used, and liquidity pressure from the increase in trade receivables has re-emerged. - FY2020-Q3Decrease in cash and short-term borrowingsAnnual report
「Total assets at the end of the third quarter decreased by ¥405 million from the end of the previous consolidated fiscal year to ¥18,628 million. This was mainly due to a ¥596 million decrease in cash and deposits, among other factors. Total liabilities decreased by ¥828 million from the end of the previous consolidated fiscal year to ¥8,657 million. This was mainly due to a ¥731 million decrease in short-term borrowings, among other factors.」
Cash and deposits decreased by ¥596 million, while short-term borrowings decreased by ¥731 million. No cash flow statement for the cumulative third quarter was prepared, so the overall picture of liquidity pressure is shown only to a limited extent. - FY2020-Q2MitigatedAnnual report
「Funds generated from operating activities amounted to ¥577 million, compared with ¥754 million generated in the same period of the previous year. This was mainly due to a ¥1,423 million decrease in trade receivables, partly offset by a ¥1,028 million decrease in trade payables, among other factors.」
Operating cash flow remained positive at ¥577 million, and trade receivables also decreased by ¥1,423 million. Although cash balances declined due to the decrease in trade payables and deposits into time deposits, working capital pressure from increases in trade receivables is easing. - FY2020-Q1MitigatedAnnual report
「Total assets at the end of the first quarter decreased by ¥532 million from the end of the previous consolidated fiscal year to ¥18,501 million. This was mainly due to an ¥827 million decrease in notes and accounts receivable, among other factors.」
Notes and accounts receivable decreased by ¥827 million from the end of the previous consolidated fiscal year. Working capital and liquidity pressure from increases in trade receivables eased during the quarter. - FY2019MitigatedAnnual report
「Funds generated from operating activities amounted to ¥3,579 million, compared with ¥1,964 million used in the previous period. This was mainly due to a ¥4,101 million decrease in trade receivables, partly offset by an ¥874 million decrease in trade payables, among other factors.」
Operating cash flow changed from ¥1,964 million used in the previous period to ¥3,579 million generated, and liquidity improved due to the decrease in trade receivables and repayment of short-term borrowings. - FY2019-Q3MitigatedAnnual report
「This was mainly due to a ¥970 million increase in work in process, partly offset by a ¥2,692 million decrease in notes and accounts receivable, among other factors.」
Notes and accounts receivable decreased by ¥2,692 million, and short-term borrowings also decreased by ¥1,820 million. Although work in process increased, working capital and liquidity pressure eased from the end of the previous period due to the decreases in trade receivables and borrowings. - FY2019-Q2MitigatedAnnual report
「Funds generated from operating activities amounted to ¥754 million, compared with ¥730 million used in the same period of the previous year. This was mainly due to a ¥2,639 million decrease in trade receivables, partly offset by an ¥844 million increase in inventories, among other factors.」
Operating cash flow changed from ¥730.50 million used in the same period of the previous year to ¥754.054 million generated, while trade receivables also decreased by ¥2,639 million. Inventories increased by ¥844 million. - FY2019-Q1Decrease in trade receivables and increase in work in processAnnual report
「This was mainly due to a ¥947 million increase in work in process, partly offset by an ¥801 million decrease in notes and accounts receivable, among other factors.」
Compared with the end of the previous consolidated fiscal year, trade receivables decreased by ¥801 million, while work in process increased by ¥947 million. The factors driving pressure on operating assets have changed, and short-term borrowings also decreased by ¥372 million. - FY2018WorsenedAnnual report
「Funds used in operating activities amounted to ¥1,964 million, compared with ¥1,216 million generated in the previous period. This was mainly due to a ¥4,952 million increase in trade receivables, partly offset by a ¥1,287 million increase in other liabilities and profit before income taxes and other adjustments of ¥1,130 million.」
Operating cash flow changed from ¥1,216 million generated in the previous period to ¥1,964 million used, with the ¥4,952 million increase in trade receivables emerging as a source of liquidity pressure. - FY2018-Q3Increase in operating assets and short-term borrowingsAnnual report
「Cash and deposits 5,178,752 6,257,988; notes and accounts receivable 5,471,226 7,524,657; work in process 394,966 1,192,826; short-term borrowings 3,934,090 6,440,575」
Compared with the end of the previous consolidated fiscal year, notes and accounts receivable, work in process and short-term borrowings have increased. As no statement of cash flows from operating activities was prepared, the impact on liquidity is shown as changes in these figures. - FY2018-Q2Changes in the factors driving working capital pressureAnnual report
「Funds used in operating activities amounted to ¥730 million, compared with ¥325 million generated in the same period of the previous year. This was mainly due to an ¥827 million increase in inventories, among other factors.」
Trade receivables decreased by ¥407 million, while inventories increased by ¥827 million, and operating cash flow changed from ¥325 million generated in the same period of the previous year to ¥730 million used. The main source of liquidity pressure has shifted from trade receivables to inventories. - FY2018-Q1RestatedAnnual report
「These funding needs are being met through internal funds and long- and short-term borrowings. For borrowings, the company has entered into overdraft and commitment line agreements with its principal banks, securing the funds necessary to conduct its business.」
The company continues to explain that it secures the necessary funds through internal funds, long- and short-term borrowings, and overdraft and commitment line agreements with its banks. - FY2017MitigatedAnnual report
「Funds generated from operating activities amounted to ¥1,216 million, compared with the use of ¥256 million in the previous period.」
Operating cash flow changed from cash used in the previous period to ¥1,216 million generated, while cash and cash equivalents also increased to ¥4,564 million. - FY2017-Q3RestatedAnnual report
「These funding needs are being met through internal funds and long- and short-term borrowings. For borrowings, the company has entered into overdraft and commitment line agreements with its principal banks, securing the funds necessary to conduct its business.」
The company continues to explain that it has secured the funds necessary to conduct its business through overdraft and commitment line agreements. - FY2017-Q2MitigatedAnnual report
「Funds generated from operating activities amounted to ¥325 million, compared with the use of ¥975 million in the same period of the previous year. This was mainly due to a ¥764 million decrease in trade receivables, partly offset by the recognition of a ¥463 million loss before income taxes and other adjustments for the quarter.」
Operating cash flow changed from cash used in the same period of the previous year to ¥325 million generated, indicating reduced liquidity pressure from the decrease in trade receivables. - FY2017-Q1MitigatedAnnual report
「The company has entered into overdraft agreements and commitment line agreements with its principal banks for its borrowings, securing the funds necessary to conduct its business.」
The company explains that it has secured the necessary funds through overdraft and commitment line agreements, indicating measures to address liquidity. - FY2016First statedAnnual report
「Cash flows from operating activities decreased by ¥1,009 million from the previous consolidated fiscal year, resulting in the use of ¥256 million, compared with the generation of ¥753 million in the previous period.」
The increase in trade receivables resulted in negative operating cash flow. The company disclosed short-term borrowings of ¥4,003.72 million and cash and cash equivalents of ¥3,682.90 million. It does not state that a payment default occurred.