Komori
Ckd (6407) · FactMitigatedLatest Earnings (2026-05-15): "Worsened"

Decrease in Operating Cash Flow Due to an Increase in Inventories

First written in FY2018-Q2. 7 of 27 entries say "Worsened", first in FY2019-Q2. Latest entry: 2026-05-15.

27entries
10years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseOtherFY2020-Q1 – FY2022-Q32017: 12018: 320182019: 420192020: 320202021: 320212022: 420222023: 320232024: 320242025: 220252026: 12026
Same theme, other companies
Changes in Operating Cash Flow Involving Inventory EfficiencyA theme 5 companies write about · 1 as a headwind · 2 as a tailwind

Ckd moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).

1 other company's latest entry also says "Worsened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-05-15WorsenedEarnings

    「Cash flows from operating activities during the consolidated fiscal year under review increased by ¥14,832 million, down 22.6% year on year.」

    Cash flows from operating activities declined from ¥19,174 million in the previous fiscal year to ¥14,832 million.
  2. FY2026-H1MitigatedAnnual report

    「Change in inventories (△ indicates an increase) 4,320 △ 666」

    Inventories decreased by ¥666 million, while cash flow from operating activities increased from ¥6,834 million in the same period of the previous fiscal year to ¥7,429 million.
  3. FY2025Inventories decreased, but inventory write-downs increasedAnnual report

    「Cash provided by operating activities during the fiscal year was ¥19,174 million, up 152.3% from the previous fiscal year. This was mainly attributable to cash inflows from profit before income taxes of ¥19,588 million, depreciation and amortization of ¥6,568 million, a decrease in inventories of ¥10,624 million and subsidies received of ¥1,454 million,」

    The decrease in inventories improved cash flow from operating activities from ¥7,600 million in the previous fiscal year to ¥19,174 million. Meanwhile, write-downs in the equipment segment increased from ¥2,176 million in the previous fiscal year to ¥2,490 million, leaving valuation risk.
  4. FY2025-H1MitigatedAnnual report

    「Cash provided by operating activities during the interim consolidated fiscal period was ¥6,834 million, up 84.0% year on year. This was mainly attributable to cash inflows from profit before income taxes for the interim period of ¥9,223 million, depreciation and amortization of ¥3,182 million, an increase in provision for bonuses of ¥2,848 million, a decrease in inventories of ¥4,320 million and an increase in trade payables of ¥771 million, offset by cash outflows from a decrease in accrued bonuses of ¥2,422 million, an increase in trade receivables and contract assets of ¥9,256 million and a decrease in advances received of ¥2,608 million.」

    Inventories decreased by ¥4,320 million, and cash flow from operating activities increased 84.0% year on year to ¥6,834 million.
  5. FY2024WorsenedAnnual report

    「Cash provided by operating activities during the fiscal year was ¥7,600 million, down 31.2% from the previous fiscal year.」

    Cash flow from operating activities decreased from ¥11,049 million in the previous fiscal year to ¥7,600 million. Inventories increased by ¥3,499 million, while a decrease in trade payables of ¥8,715 million and other factors also reduced cash.
  6. FY2024-Q3Inventories continue to increaseAnnual report

    「This was mainly attributable to increases in cash and deposits, inventories and property, plant and equipment, despite a decrease in trade receivables.」

    At the end of the third quarter as well, inventories and property, plant and equipment had increased from the end of the previous fiscal year, contributing to the increase in total assets.
  7. FY2024-Q2WorsenedAnnual report

    「Cash provided by operating activities during the first six months of the fiscal year was ¥3,713 million, down 42.2% year on year. This was mainly attributable to cash inflows from profit before income taxes of ¥6,066 million, depreciation and amortization of ¥3,219 million, an increase in provision for bonuses of ¥2,849 million, a decrease in trade receivables and contract assets of ¥6,067 million and an increase in advances received of ¥1,259 million, offset by cash outflows from a decrease in accrued bonuses of ¥3,143 million, an increase in inventories of ¥4,734 million, a decrease in trade payables of ¥5,179 million and income taxes paid of ¥3,669 million.」

    Inventories increased by ¥4,734 million, and cash flow from operating activities decreased from ¥6,428 million in the same period of the previous fiscal year to ¥3,713 million.
  8. FY2024-Q1Continued Increase in InventoriesAnnual report

    「This was mainly attributable to increases in cash and deposits, inventories and property, plant and equipment, despite a decrease in trade receivables and contract assets.」

    At the end of the first quarter as well, inventories and property, plant and equipment had increased from the end of the previous fiscal year, contributing to the increase in total assets.
  9. FY2023WorsenedAnnual report

    「Cash provided by operating activities during the fiscal year was ¥11,049 million, down 10.6% from the previous fiscal year. This was mainly attributable to cash inflows from profit before income taxes of ¥21,388 million, depreciation and amortization of ¥6,626 million and an increase in trade payables of ¥2,255 million, offset by cash outflows from an increase in trade receivables and contract assets of ¥1,521 million, an increase in inventories of ¥10,286 million and income taxes paid of ¥6,530 million.」

    The increase in inventories expanded from ¥7,337 million in the previous fiscal year to ¥10,286 million, and cash flow from operating activities decreased 10.6% from the previous fiscal year.
  10. FY2023-Q2Continued Increase in InventoriesAnnual report

    「Cash provided by operating activities during the first six months of the fiscal year was ¥6,428 million, down 0.8% year on year. This was mainly attributable to cash inflows from profit before income taxes of ¥10,284 million, depreciation and amortization of ¥3,148 million, an increase in provision for bonuses of ¥3,536 million and an increase in trade payables of ¥2,164 million, offset by cash outflows from a decrease in accrued bonuses of ¥3,129 million, an increase in trade receivables and contract assets of ¥1,377 million, an increase in inventories of ¥5,061 million and income taxes paid of ¥3,886 million.」

    Inventories increased by ¥5,061 million, and cash flow from operating activities decreased 0.8% year on year to ¥6,428 million.
  11. FY2023-Q1Continued Increase in InventoriesAnnual report

    「This was mainly attributable to increases in trade receivables, inventories and property, plant and equipment, despite decreases in cash and deposits and consumption tax receivables.」

    As in the previous fiscal year, inventories increased together with trade receivables and property, plant and equipment, contributing to the increase in total assets.
  12. FY2022WorsenedAnnual report

    「Cash provided by operating activities during the fiscal year was ¥12,352 million, down 29.5% from the previous fiscal year. This was mainly attributable to cash inflows from profit before income taxes of ¥17,947 million, depreciation and amortization of ¥5,910 million and an increase in trade payables of ¥5,278 million, offset by cash outflows from an increase in trade receivables and contract assets of ¥5,492 million, an increase in inventories of ¥7,337 million, a decrease in advances received of ¥2,187 million and income taxes paid of ¥3,066 million.」

    Inventories increased by ¥7,337 million in line with increases in sales and orders, and cash flow from operating activities decreased 29.5% from the previous fiscal year.
  13. FY2022-Q3Continued Increase in InventoriesAnnual report

    「This was mainly attributable to increases in trade receivables, inventories and property, plant and equipment, despite a decrease in cash and deposits.」

    Inventories had also increased from the end of the previous fiscal year at the end of the third quarter, contributing to the increase in total assets. The combined total of merchandise and finished goods, work in process, raw materials and supplies was ¥44,074 million.
  14. FY2022-Q2Continued Increase in InventoriesAnnual report

    「Cash provided by operating activities during the first six months of the fiscal year was ¥6,478 million, up 25.5% year on year. This was mainly attributable to cash inflows from profit before income taxes of ¥8,665 million, depreciation and amortization of ¥2,747 million, an increase in provision for bonuses of ¥3,219 million and an increase in trade payables of ¥5,016 million, offset by cash outflows from a decrease in accrued bonuses of ¥2,190 million, an increase in trade receivables and contract assets of ¥4,467 million, an increase in inventories of ¥5,314 million and income taxes paid of ¥1,803 million.」

    Inventories increased by ¥5,314 million and, together with the increase in trade receivables and contract assets, reduced cash flow from operating activities.
  15. FY2022-Q1Increase in InventoriesAnnual report

    「This was mainly attributable to increases in cash and deposits, trade receivables and inventories.」

    While the previous fiscal year disclosed inventory optimization and a decrease in inventories, the increase in inventories was cited as one of the main factors behind the increase in total assets at the end of the first quarter.
  16. FY2021Maintaining appropriate inventory levels and increasing operating cash flowAnnual report

    「Cash provided by operating activities during the fiscal year was ¥17,521 million, up 1.6% from the previous fiscal year.」

    In addition to maintaining appropriate inventory levels, improved collection of trade receivables resulted in cash flow from operating activities of ¥17,521 million. The change in inventories was an increase of ¥252 million.
  17. FY2021-Q2Operating cash flow decreased despite continued inventory reductionAnnual report

    「Cash provided by operating activities during the first six months of the fiscal year was ¥5,160 million, down 32.6% year on year. This was mainly attributable to cash inflows from profit before income taxes of ¥2,437 million, depreciation and amortization of ¥2,684 million, an increase in provision for bonuses of ¥2,049 million and a decrease in trade receivables of ¥3,598 million, offset by cash outflows from a decrease in accrued bonuses of ¥2,025 million, a decrease in trade payables of ¥1,445 million and income taxes paid of ¥1,105 million. Change in inventories (△ indicates an increase)　△297」

    Inventories decreased by ¥297 million for cash flow purposes, while cash flow from operating activities decreased 32.6% year on year to ¥5,160 million.
  18. FY2020Improved operating cash flow through inventory optimizationAnnual report

    「Cash provided by operating activities during the fiscal year was ¥17,250 million, compared with cash used of ¥2,254 million in the previous fiscal year.」

    By bringing inventory levels to appropriate levels and maintaining only the minimum necessary inventory, inventories decreased by ¥3,451 million, and cash flow from operating activities shifted from cash used in the previous fiscal year to cash provided of ¥17,250 million.
  19. FY2020-Q3Decrease in inventories and property, plant and equipmentAnnual report

    「This was mainly attributable to decreases in trade receivables, inventories and property, plant and equipment, despite an increase in cash and deposits.」

    Inventories, which had increased through the previous fiscal year, had decreased by the end of the third quarter together with trade receivables and property, plant and equipment.
  20. FY2020-Q2Decrease in inventories and increase in operating cash flowAnnual report

    「Cash provided by operating activities during the first six months of the fiscal year was ¥7,656 million, compared with cash used of ¥318 million in the same period of the previous fiscal year. This was mainly attributable to cash inflows from profit before income taxes of ¥1,067 million, depreciation and amortization of ¥2,816 million, a decrease in trade receivables of ¥2,263 million, a decrease in inventories of ¥1,758 million and income tax refunds of ¥1,099 million, offset by cash outflows from a decrease in trade payables of ¥2,316 million.」

    Inventories decreased by ¥1,758 million, and cash flow from operating activities shifted from cash used of ¥318 million in the same period of the previous fiscal year to cash provided of ¥7,656 million.
  21. FY2020-Q1Inventories turned to a decreaseAnnual report

    「This was mainly attributable to decreases in trade receivables and inventories, despite an increase in cash and deposits.」

    Inventories, which had increased through the previous fiscal year, had decreased from the end of the previous fiscal year by the end of the first quarter.
  22. FY2019WorsenedAnnual report

    「Cash used in operating activities during the fiscal year was ¥2,254 million, compared with cash provided of ¥5,542 million in the previous fiscal year. This was mainly attributable to cash inflows from profit before income taxes of ¥5,846 million, depreciation and amortization of ¥5,173 million, an increase in provision for bonuses of ¥1,744 million and a decrease in trade receivables of ¥3,873 million, offset by cash outflows from a decrease in accrued bonuses of ¥2,362 million, an increase in inventories of ¥5,220 million, a decrease in trade payables of ¥6,328 million, a decrease in advances received of ¥263 million and income taxes paid of ¥3,932 million.」

    Cash flow from operating activities shifted from cash provided of ¥5,542 million in the previous fiscal year to cash used of ¥2,254 million, with the ¥5,220 million increase in inventories and other factors reducing cash.
  23. FY2019-Q3Continued increases in inventories and property, plant and equipmentAnnual report

    「This was mainly attributable to an increase in inventories and property, plant and equipment, despite decreases in cash and deposits and trade receivables.」

    At the end of the third quarter as well, inventories and property, plant and equipment had increased from the end of the previous fiscal year.
  24. FY2019-Q2WorsenedAnnual report

    「The decrease in cash provided by operating activities during the first six months of the fiscal year was ¥318 million, compared with cash provided of ¥2,032 million in the same period of the previous fiscal year. This was mainly attributable to cash outflows from an increase in inventories of ¥7,123 million, a decrease in advances received of ¥537 million and income taxes paid of ¥2,103 million.」

    Inventories increased by ¥7,123 million, and cash flow from operating activities shifted from cash provided of ¥2,032 million in the same period of the previous fiscal year to cash used of ¥318 million.
  25. FY2019-Q1Increase in inventories and property, plant and equipmentAnnual report

    「This was mainly attributable to an increase in inventories and property, plant and equipment, despite decreases in cash and deposits and investment securities.」

    At the end of the first quarter, inventories and property, plant and equipment had increased from the end of the previous fiscal year. The company did not prepare a cash flow statement for the cumulative first-quarter period.
  26. FY2018Inventories increased for the full year as wellAnnual report

    「This was attributable to cash outflows from an increase in inventories of ¥9,913 million and income taxes paid of ¥3,957 million.」

    The increase in inventories amounted to ¥9,913 million for the full year, and cash flow from operating activities was ¥5,542 million, down 45.5% from the previous fiscal year.
  27. FY2018-Q2First statedAnnual report

    「Cash provided by operating activities during the first six months of the fiscal year was ¥2,032 million, down 55.9% year on year. This was mainly attributable to cash inflows from profit before income taxes of ¥5,999 million, depreciation and amortization of ¥1,915 million, an increase in provision for bonuses of ¥2,256 million and an increase in advances received of ¥903 million, offset by cash outflows from a decrease in accrued bonuses of ¥2,021 million, an increase in inventories of ¥4,930 million and income taxes paid of ¥2,245 million.」

    Cash flow from operating activities was ¥2,032 million, down 55.9% year on year, mainly due to the ¥4,930 million increase in inventories.
Moved together

"Sales, Supply and Geopolitical Risks Associated with Overseas Expansion" moved the same way as this thread, in the same document, in 7 of its 27 moves.

766555★123456
  1. ★This thread
  2. 1Sales, Supply and Geopolitical Risks Associated with Overseas Expansion7×
  3. 2Risk from volatility in semiconductor capital investment6×
  4. 3Risk of inventory write-downs and higher inventories due to declining demand6×
  5. 4Higher Domestic Demand for the Equipment Segment and the Impact of Foreign Exchange Movements Overseas5×
  6. 5Nine-month revenue and profit growth5×
  7. 6Decline in the Equity Ratio5×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Ckd yet. It last moved in the Earnings of 2026-05-15: "Worsened".
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Decrease in Operating Cash Flow Due to an Increase in Inventories | CKD Corporation (6407) | Komori