Reducing Inventories and Interest-Bearing Debt and Improving Operations
First written in FY2016. 5 of 33 entries say "Restated". Latest entry: FY2026-H1.
Maruyama Mfg.Co. moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).
The whole theme swung hardest in 2023: 3 of 15 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2026-H1Increase in inventories and widening operating cash flow deficitAnnual report
「Cash used in operating activities during the interim period of the current consolidated fiscal year was ¥3,652 million, an increase of ¥2,913 million from the same period of the previous year. This was due to higher cash inflows from the decrease in trade receivables, but also higher cash outflows due to an increase in inventories and a decrease in trade payables, among other factors.」
Although the policy of reducing inventory and improving cash flow is continuing, cash used in operating activities increased to ¥3,652 million due to the increase in inventories, among other factors. - 2026-05-14WorsenedEarnings
「As a result of operating activities during the interim consolidated accounting period, funds used totaled ¥3,652 million, an increase of ¥2,913 million year on year.」
Funds used in operating activities increased from ¥739 million in the same period of the previous year to ¥3,652 million, mainly due to the increase in inventories. - FY2025AdvancedAnnual report
「We will also substantially review the management of both finished-product and parts inventories, work to reduce inventories, improve cash flow, strengthen our financial position, and digitalise inventory management.」
Merchandise and finished goods decreased by ¥525 million, while cash flow from operating activities increased from cash provided of ¥214 million in the previous fiscal year to cash provided of ¥1,871 million. - FY2025-H1Continued inventory growth and operating cash flow deficitAnnual report
「Cash used in operating activities during the interim period of the current consolidated fiscal year was ¥739 million, a decrease of ¥104 million from the same period of the previous year. This was due to a decrease in inventories, despite an increase in trade receivables compared with the same period of the previous year, among other factors.」
Although the operating cash flow deficit narrowed from the same period of the previous year, cash used remained at ¥739 million. Merchandise and finished goods increased by ¥1,017 million, indicating an increase in inventory balances despite the inventory reduction policy. - FY2024Return to positive operating cash flow amid inventory growthAnnual report
「We will also substantially review the management of both finished-product and parts inventories, work to reduce inventories, improve cash flow, strengthen our financial position, and digitalise inventory management.」
Although the policy of reducing inventory and substantially reviewing inventory management is continuing, inventories such as merchandise and finished goods increased. Cash flow from operating activities improved from cash used of ¥284 million in the previous fiscal year to cash provided of ¥214 million. - FY2024-Q2Continued inventory growth and operating cash flow deficitAnnual report
「During the first six months of the current consolidated fiscal year, cash and cash equivalents (hereinafter, "funds") decreased by ¥574 million from the end of the previous consolidated fiscal year to ¥3,428 million at the end of the second quarter. This was due to an increase in inventories and higher cash outflows for the acquisition of property, plant and equipment, despite decreases in trade receivables and an increase in short-term borrowings, among other factors.」
Although the policy of reducing inventory and strengthening the financial position is continuing, cash decreased by ¥574 million due to the increase in inventories and cash outflows for the acquisition of equipment. - FY2024-Q1Continued increase in inventoryAnnual report
「This was due to a decrease in notes and accounts receivable (¥2,110 million), despite an increase in merchandise and finished goods (¥1,322 million), among other factors.」
Although the policy of reducing inventory and strengthening the financial position is continuing, merchandise and finished goods increased by ¥1,322 million from the end of the previous consolidated fiscal year. - FY2023Inventory growth and a shift to negative operating cash flowAnnual report
「We will substantially review the management of both finished-product and parts inventories, work to reduce inventories, and strengthen our financial position by improving cash flow.」
Although a substantial review of inventory management has been identified as a priority, merchandise and finished goods increased by ¥177 million, and cash used in operating activities amounted to ¥284 million. - FY2023-Q3Continued increase in inventory and decrease in cashAnnual report
「This was mainly due to increases in notes, accounts receivable and contract assets (¥1,319 million), merchandise and finished goods (¥2,044 million), and investment securities (¥500 million), despite decreases in cash and deposits (¥691 million) and electronically recorded monetary claims (¥837 million).」
Although the policy of reducing inventory and strengthening the financial position is continuing, merchandise and finished goods and trade receivables increased, while cash and deposits decreased. - FY2023-Q2Continued inventory growth and operating cash flow deficitAnnual report
「Cash used in operating activities during the first six months of the current consolidated fiscal year was ¥1,033 million, an increase of ¥908 million year on year. This was due to the increase in inventories compared with the same period of the previous year, among other factors.」
Although the inventory reduction policy is continuing, cash used in operating activities amounted to ¥1,033 million due to the increase in inventories. - FY2023-Q1Inventory growth, decrease in cash, and increase in short-term borrowingsAnnual report
「This was due to decreases in cash and deposits (¥760 million), notes receivable, accounts receivable and contract assets (¥756 million), and electronically recorded monetary claims (¥970 million), despite an increase in merchandise and finished goods (¥1,401 million), among other factors. Total liabilities were ¥16,296 million, down ¥463 million from the end of the previous consolidated fiscal year. This was despite an increase in short-term borrowings (¥491 million), but」
Although the policy of reducing inventory and interest-bearing debt is continuing, merchandise and finished goods and short-term borrowings increased, while cash and deposits decreased. - FY2022-Q3Continued inventory growth and decrease in cashAnnual report
「This was due to increases in notes receivable, accounts receivable and contract assets (¥763 million), merchandise and finished goods (¥728 million), and raw materials and supplies (¥781 million), despite a decrease in cash and deposits (¥808 million), among other factors.」
Although the policy of reducing inventory and strengthening the financial position is continuing, merchandise and finished goods and raw materials and supplies increased, while cash and deposits decreased by ¥808 million. - FY2022-Q2Inventory growth and a shift to negative operating cash flowAnnual report
「During the first six months of the current consolidated fiscal year, cash and cash equivalents (hereinafter, "funds") decreased by ¥707 million from the end of the previous consolidated fiscal year to ¥3,305 million at the end of the second quarter. This was due to increases in trade receivables and inventories and higher corporate tax payments, despite lower cash outflows for the acquisition of property, plant and equipment, among other factors.」
Although the policy of reducing inventory and strengthening the financial position is continuing, cash and cash equivalents decreased by ¥707 million due to increases in trade receivables and inventories, among other factors. - FY2022-Q1Increase in inventory and decrease in cashAnnual report
「Total assets at the end of the first quarter of the current consolidated fiscal year were ¥32,807 million, down ¥1,347 million from the end of the previous consolidated fiscal year. This was due to decreases in cash and deposits (¥599 million), notes and accounts receivable (¥905 million), and electronically recorded monetary claims (¥915 million), despite an increase in merchandise and finished goods (¥923 million), among other factors.」
Although the policy of reducing inventory and strengthening the financial position is continuing, merchandise and finished goods increased by ¥923 million, while cash and deposits decreased by ¥599 million. - FY2021AdvancedAnnual report
「We will implement business reforms using digital transformation. Across all divisions, we will work to standardise and improve the efficiency of operations using RPA and AI. In addition, to reduce inventories, we will analyse demand forecasts and optimise parts procurement operations.」
RPA, AI, demand-forecast analysis, and optimisation of parts procurement have been added to the inventory reduction and operational efficiency measures. - FY2021-Q3Continued increase in inventoryAnnual report
「Increase in merchandise and finished goods (¥1,147 million)」
Although the policy of reducing and optimising inventory is continuing, merchandise and finished goods increased by ¥1,147 million from the end of the previous consolidated fiscal year. - FY2021-Q2Continued inventory growth and decrease in operating cash flowAnnual report
「During the first six months of the current consolidated fiscal year, cash and cash equivalents (hereinafter, "funds") decreased by ¥436 million from the end of the previous consolidated fiscal year to ¥3,687 million at the end of the second quarter. This was due to an increase in inventories and cash outflows for the acquisition of property, plant and equipment, despite an increase in trade payables, among other factors. Cash provided by operating activities during the first six months of the current consolidated fiscal year was ¥595 million, down ¥167 million year on year.」
Although the policy of reducing inventory and strengthening the financial position is continuing, the increase in inventories was a factor behind the decrease in funds, and operating cash flow decreased by ¥167 million year on year. - FY2021-Q1Continued increase in inventoryAnnual report
「This was due to decreases in cash and deposits (¥1,068 million) and notes and accounts receivable (¥855 million), despite an increase in merchandise and finished goods (¥814 million), among other factors.」
Although the policy of reducing and optimising inventory is continuing, merchandise and finished goods increased by ¥814 million from the end of the previous consolidated fiscal year. - FY2020RestatedAnnual report
「The Maruyama Group will strengthen its financial position by using inventory reduction as a key focus, reviewing business processes across all divisions, and working to reduce inventories and interest-bearing debt.」
The company has reiterated its policy of reducing inventories and interest-bearing debt through a review of business processes. - FY2020-Q3Continued increases in inventory and short-term borrowingsAnnual report
「Total assets at the end of the third quarter of the current consolidated fiscal period were ¥35,349 million, up ¥2,455 million from the end of the previous consolidated fiscal year. This was mainly due to an increase in merchandise and finished goods (¥2,355 million). Total liabilities were ¥19,840 million, up ¥2,440 million from the end of the previous consolidated fiscal year. This was mainly due to increases in notes and accounts payable (¥742 million), electronically recorded obligations (¥1,223 million) and short-term borrowings (¥800 million), despite a decrease in provision for bonuses (¥286 million).」
Although the policy of optimising inventory and reducing interest-bearing debt has been identified as a priority, merchandise and finished goods and short-term borrowings continue to increase. - FY2020-Q2Continued inventory growth and improvement in operating cash flowAnnual report
「Cash provided by operating activities during the first six months of the current consolidated fiscal year was ¥762 million, an increase of ¥1,829 million year on year. This was due to a larger decrease in trade receivables, a smaller increase in inventories, and a larger increase in trade payables compared with the same period of the previous year, among other factors.」
Although inventories such as merchandise and finished goods increased, the increase in inventories was smaller than in the same period of the previous year, and operating cash flow improved from cash used of ¥1,066 million in the same period of the previous year to cash provided of ¥762 million. - FY2020-Q1Continued inventory growth and reduction in loss through fixed-cost reductionsAnnual report
「This was due to decreases in cash and deposits (¥540 million) and notes and accounts receivable (¥2,381 million), despite an increase in merchandise and finished goods (¥2,161 million), among other factors. In terms of earnings, although gross profit decreased in line with the decline in net sales, the operating loss was ¥426 million, compared with a loss of ¥629 million in the same quarter of the previous year, due to decreases in manufacturing expenses and fixed costs, among other factors.」
Although inventory reduction and optimisation have been identified as priorities, merchandise and finished goods increased by ¥2,161 million. Meanwhile, the operating loss narrowed due to decreases in manufacturing expenses and fixed costs. - FY2019-Q3Continued increases in inventories and short-term borrowingsAnnual report
「This was mainly due to increases in notes and accounts receivable (¥1,057 million) and merchandise and finished goods (¥2,332 million), despite a decrease in investment securities (¥641 million). Total liabilities were ¥21,052 million, up ¥3,192 million from the end of the previous consolidated fiscal year. This was mainly due to an increase in short-term borrowings (¥3,058 million).」
Although the policy of optimising inventory and reducing interest-bearing debt has been identified as a priority, merchandise and finished goods and short-term borrowings continue to increase. - FY2019-Q2Continued increases in inventories and short-term borrowingsAnnual report
「During the first six months of the current consolidated fiscal year, cash and cash equivalents (hereinafter, "funds") decreased by ¥519 million from the end of the previous consolidated fiscal year to ¥1,777 million at the end of the second quarter. This was due to an increase in inventories and cash outflows for the repayment of long-term borrowings, despite decreases in trade receivables and an increase in short-term borrowings.」
Although the policy of optimising and reducing inventory has been identified as a priority, the increase in inventories was a factor behind the decrease in funds, and short-term borrowings also increased. - FY2019-Q1Continued increase in inventoryAnnual report
「This was due to decreases in notes and accounts receivable (¥2,765 million) and investment securities (¥631 million), despite an increase in merchandise and finished goods (¥2,215 million), among other factors.」
Although the policy of optimising and reducing inventory has been identified as a priority, merchandise and finished goods increased by ¥2,215 million from the end of the previous consolidated fiscal year. - FY2018RestatedAnnual report
「In the next fiscal year as well, we will continue reviewing business processes across all divisions and work to optimise inventory levels.」
The policy of optimising inventory and reviewing business processes is continuing. Meanwhile, merchandise and finished goods, raw materials and other inventories increased at the end of the current fiscal year, and operating cash flow decreased from the previous fiscal year. - FY2018-Q3Continued increase in inventoryAnnual report
「This was due to increases in notes and accounts receivable (¥1,090 million) and merchandise and finished goods (¥2,208 million), despite a decrease in cash and deposits (¥715 million), among other factors.」
Although inventory reduction had been identified as a priority, merchandise and finished goods increased by ¥2,208 million from the end of the previous fiscal year, indicating that the reversal of the inventory reduction trend is continuing. - FY2018-Q2在庫増加により削減傾向が反転Annual report
「At the end of the second quarter of the current consolidated fiscal year, the balance was ¥1,722 million, down ¥759 million from the end of the previous consolidated fiscal year. This was due to increases in inventories, cash outflows for the acquisition of property, plant and equipment, and cash outflows for the repayment of long-term borrowings, despite a decrease in trade receivables and an increase in trade payables.」
Although inventory reduction had been identified as a priority, the increase in inventories was cited as a factor behind the decrease in cash in the second quarter. - FY2017AdvancedAnnual report
「また、財務体質の強化のため、在庫削減をキーワードに業務の効率化、有利子負債の削減に取り組んだ結果、キャッシュ・フローが改善いたしました。」
在庫削減・業務効率化・有利子負債削減の取り組みについて、商品及び製品等の在庫減少、営業活動によるキャッシュ・フロー3,865百万円、有利子負債の減少として具体的な進展を記載している。 - FY2017-Q3RestatedAnnual report
「利益面では、生産高の減少に伴う原価率の上昇などによる売上総利益の減少はありましたが、売上高の増加、固定費の削減に努めた結果、営業利益は709百万円（前年同四半期比3.6％増）となりました。」
固定費削減への取り組みを再掲しており、原価率上昇による売上総利益の減少がある中でも営業利益は前年同期比3.6％増となった。 - FY2017-Q2RestatedAnnual report
「利益面では、売上高の増加、固定費の削減に努めたことによる増加はありましたが、生産高の減少に伴う原価率の上昇などにより売上総利益が減少した結果、営業利益は140百万円（前年同四半期比21.9％減）となりました。」
固定費削減への取り組みを再掲しているが、原価率上昇の影響により営業利益は前年同期を下回った。 - FY2017-Q1RestatedAnnual report
「利益面では、売上高の減少、生産高の減少に伴う原価率の上昇はありましたが、固定費の削減に努めた結果、営業損失は418百万円（前年同四半期は405百万円の損失）となりました。」
在庫・有利子負債削減や現場改善による収益力向上の文脈に加え、当四半期には固定費削減にも取り組んだと記載している。 - FY2016First statedAnnual report
「丸山グループでは、在庫削減をキーワードとして、全部門において業務プロセスの見直しを実施することによって、在庫の削減、有利子負債の削減に取り組んでまいります。更に丸山グループをあげて現場改善運動、ムダ取り運動の展開により、企業体質を強化し、収益力の向上に取り組んでまいります。」
業務プロセス見直し、現場改善運動、ムダ取り運動を通じて在庫・有利子負債削減と収益力向上を図る施策を掲げている。