Lower Cash Flow from Operating Activities and Higher Capital Expenditure
First written in FY2019-Q2. 14 of 16 entries say "Reframed", first in FY2020-Q2. Latest entry: FY2026.
Shimadzu moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
1 other company's latest entry also says "Reframed".
- FY2026ReframedAnnual report
「Cash flow from operating activities amounted to ¥54.679 billion, an increase of ¥2.677 billion from the previous consolidated fiscal year. Cash flow used in investing activities decreased by ¥7.265 billion from the previous consolidated fiscal year, resulting in an outflow of ¥15.907 billion.」
Full-year operating cash flow increased, while cash outflows from investing activities decreased. The composition shifted from investment spending that included the acquisition of subsidiaries in the previous year to spending focused mainly on capital investment and related items in the current year. - FY2026-H1ReframedAnnual report
「Cash flow from operating activities amounted to ¥30.376 billion, an increase of ¥2.166 billion from the same period of the previous year. Cash flow used in investing activities declined by ¥6.024 billion year on year to ¥8.245 billion, mainly reflecting ¥8.061 billion used to acquire property, plant and equipment. Cash flow used in financing activities declined by ¥2.149 billion year on year to ¥14.265 billion.」
Operating cash flow increased, while spending on investing and financing activities declined from the same period of the previous year. Investment spending was centered on acquisitions of fixed assets, and no spending related to the acquisition of Zef Scientific in the same period of the previous year was reported. - FY2025ReframedAnnual report
「Cash flow from operating activities amounted to ¥52.002 billion, an increase of ¥21.874 billion from the previous consolidated fiscal year. Cash flow used in investing activities increased by ¥7.174 billion from the previous consolidated fiscal year, resulting in an outflow of ¥23.173 billion.」
Although full-year operating cash flow increased, the funding mix shifted toward higher investment outlays due to the acquisition of Zef Scientific and capital investment. Financing outlays also increased due to share repurchases and dividend payments. - FY2025-H1ReframedAnnual report
「Cash flow from operating activities amounted to ¥28.209 billion, an increase of ¥1.645 billion from the same period of the previous year. Cash flow used in investing activities increased by ¥7.107 billion year on year, resulting in an outflow of ¥14.269 billion. The main items were ¥7.511 billion for purchases of property, plant and equipment and ¥6.546 billion for purchases of shares in subsidiaries.」
The funding profile shifted to higher investing outlays due to the acquisition of fixed assets and shares in Zef Scientific, despite an increase in operating cash flow. - FY2024ReframedAnnual report
「Cash flow from operating activities generated ¥30.127 billion, a decrease of ¥18.175 billion from the previous consolidated fiscal year. Cash flow from investing activities amounted to an outflow of ¥15.998 billion, with the outflow decreasing by ¥18.510 billion from the previous consolidated fiscal year.」
Although full-year operating cash flow declined substantially, investing expenditures decreased, partly because there were no acquisitions of subsidiaries. - FY2024-Q3Disclosure of the non-preparation of a cash flow statement for the cumulative third-quarter consolidated periodAnnual report
「The quarterly consolidated statement of cash flows for the nine-month period ended in the third quarter has not been prepared.」
It was disclosed that no quarterly consolidated statement of cash flows would be prepared for the cumulative third quarter. - FY2024-Q2ReframedAnnual report
「Net cash provided by operating activities was ¥11,804 million, a decrease of ¥1,090 million from the same period of the previous year. Net cash used in investing activities decreased by ¥12,590 million from the same period of the previous year, resulting in cash used of ¥7,161 million. The main item was ¥7,415 million for capital expenditures. Net cash used in financing activities increased by ¥733 million from the same period of the previous year, resulting in cash used of ¥11,488 million. The main items were ¥9,421 million in dividend payments and ¥2,380 million for repayments of lease obligations.」
Operating cash flow declined year on year, while cash outflows from investing activities decreased owing in part to the absence of acquisitions of subsidiary shares. Cash outflows from financing activities increased owing to dividend payments and other factors. - FY2023ReframedAnnual report
「Net cash provided by operating activities was ¥48,303 million, a decrease of ¥15,064 million from the previous consolidated fiscal year. Net cash used in investing activities increased by ¥28,464 million from the previous consolidated fiscal year, resulting in cash used of ¥34,509 million. The main items were ¥16,838 million for capital expenditures and ¥13,996 million for the acquisition of shares in subsidiaries.」
The funding mix has shifted toward significantly higher investing outlays due to the acquisition of Nissui Pharmaceutical and capital investment, while operating cash flow has declined. - FY2023-Q2ReframedAnnual report
「Cash flow from operating activities amounted to ¥22.705 billion, a decrease of ¥8.826 billion from the same period of the previous year. Cash flow used in investing activities increased by ¥18.796 billion year on year to ¥19.752 billion. The main items were ¥10.439 billion used to acquire shares of subsidiaries resulting in changes to the scope of consolidation and ¥8.503 billion used for capital investment.」
The business has shifted to a structure in which investing expenditure increases substantially through acquisitions of shares in subsidiaries, including the acquisition of Nissui Pharmaceutical, and capital investment, while cash flow from operating activities declines. - FY2022ReframedAnnual report
「Cash flow from operating activities was an inflow of ¥63,367 million, a decrease of ¥433 million from the previous consolidated fiscal year. Cash flow from investing activities was an outflow of ¥6,044 million, with the outflow decreasing by ¥7,815 million from the previous consolidated fiscal year. Cash flow from financing activities was an outflow of ¥15,658 million, with the outflow increasing by ¥2,624 million from the previous consolidated fiscal year.」
For the full fiscal year, the structure consisted of a slight decline in cash flow from operating activities, lower investing expenditure and higher expenditure from financing activities. - FY2022-Q2ReframedAnnual report
「Net cash provided by operating activities amounted to ¥3.1531 billion, an increase of ¥200 million from the same period of the previous year. Net cash used in investing activities amounted to ¥955 million, a decrease of ¥5.79 billion from the same period of the previous year. Net cash used in financing activities amounted to ¥7.664 billion, an increase of ¥1.23 billion from the same period of the previous year.」
Cash flow from operating activities increased slightly, while cash outflows from investing activities decreased substantially and cash outflows from financing activities increased. - FY2021ReframedAnnual report
「Cash flow from operating activities was an inflow of ¥63,801 million, an increase of ¥2,429 million from the previous consolidated fiscal year. Cash flow from investing activities was an outflow of ¥13,860 million, with the outflow decreasing by ¥2,202 million from the previous consolidated fiscal year.」
For the full year, operating cash flow increased substantially, while cash outflows from investing activities decreased. - FY2021-Q2ReframedAnnual report
「Cash flow from operating activities amounted to an inflow of ¥31.331 billion, an increase of ¥13.390 billion from the same period of the previous year. Cash flow from investing activities amounted to an outflow of ¥6.746 billion, a decrease of ¥4.223 billion from the same period of the previous year. The main component was capital expenditures of ¥7.268 billion. Cash flow from financing activities amounted to an outflow of ¥6.433 billion, a decrease of ¥13.935 billion from the same period of the previous year.」
The mix has shifted toward higher operating cash flow and lower spending on investing activities, including capital investment, and financing activities compared with the same period of the previous year. - FY2020ReframedAnnual report
「Cash flow from operating activities was an inflow of ¥39.509 billion, an increase of ¥10.055 billion from the previous consolidated fiscal year. Cash flow from investing activities was an outflow of ¥16.062 billion, a decrease of ¥6.835 billion in outflows from the previous consolidated fiscal year. The main item was ¥15.868 billion in capital expenditures. Cash flow from financing activities was an outflow of ¥26.185 billion, an increase of ¥15.366 billion in outflows from the previous consolidated fiscal year.」
For the full fiscal year, operating cash flow increased and investment spending declined, while cash outflows from financing activities, including bond redemptions and dividend payments, increased. - FY2020-Q2ReframedAnnual report
「Cash flow from operating activities was an inflow of ¥17,941 million, an increase of ¥2,785 million from the previous year's corresponding period. Cash flow from investing activities was an outflow of ¥10,969 million, with the outflow decreasing by ¥1,469 million from the previous year's corresponding period. The main item was ¥9,179 million in capital expenditures. Cash flow from financing activities was an outflow of ¥20,369 million, with the outflow increasing by ¥14,431 million from the previous year's corresponding period. The main items were ¥15,000 million in bond redemptions and ¥4,419 million in dividend payments.」
Cash flow from operating activities increased and cash outflows from investing activities declined, while cash outflows from financing activities increased due to bond redemptions and dividend payments. - FY2019-Q2First statedAnnual report
「Cash flow from operating activities was ¥15,156 million, a decrease of ¥7,530 million from the same period of the previous year. Cash flow used in investing activities increased by ¥7,367 million year on year to ¥12,439 million. The main component was ¥9,175 million in capital expenditure.」
The decrease in cash generated from operating activities and increase in investing outflows, mainly from capital expenditure, were first summarized as the period’s funding trends.