Fuji Electric Global

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Financial InformationConsolidated Financial Statements (Japan GAAP)

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  • Income Statement / Statement of Comprehensive Income
  • Cash Flows

Balance Sheets

Condolidated Balance Sheets

(Millions of yen)
YEARS ENDED MARCH 31 2018/3 2019/3 2020/3 2021/3 2022/3
Assets
    Current assets: 518,471 573,096 595,692 629,207 681,981
      -  Cash and time deposits 42,045 33,372 29,304 64,073 76,546
      -  Notes and accounts receivable, trade 287,084 308,831 294,504 319,644 357,341
      -  Inventories 149,757 176,972 188,113 183,190 170,295
      -  Other current assets 48,257 57,988 49,001 49,826 61,378
    Long-term assets: 396,134 379,410 401,016 422,652 435,058
      -  Tangible fixed assets 174,600 182,124 201,892 209,758 233,675
      -  Intangible fixed assets 19,330 17,843 24,606 23,426 22,504
      -  Investments and other assets 202,203 179,442 174,517 189,468 178,878
    Deferred assets 137 152 118 92 71
Total assets 914,744 952,659 996,827 1,051,952 1,117,112
Liabilities and shareholders' equity
    Current liabilities: 404,741 425,894 423,160 356,416 386,969
      -  Notes and accounts payable, trade 183,976 196,669 179,914 167,260 171,749
      -  Short-term loans 33,865 48,296 21,342 21,744 44,984
      -  Current portion of debentures 20,000 - 15,000 - -
      -  Other current liabilities 166,898 180,927 206,903 167,411 170,236
    Long-term liabilities 143,455 134,704 167,664 234,281 206,413
      -  Long-term debt and bonds 74,435 60,548 73,604 131,686 101,276
      -  Net defined benefit liability 42,519 45,794 50,011 53,322 57,590
      -  Other long-term liabilities 26,500 28,361 44,048 49,272 47,545
Total liabilities 548,197 560,598 590,825 590,698 593,382
Net Assets
    Shareholders' equity: 281,805 310,276 327,513 358,021 405,467
      -  Common stock 47,586 47,586 47,586 47,586 47,586
      -  Capital surplus 45,986 46,067 45,949 46,003 45,955
      -  Retained earnings 195,517 223,940 241,305 271,772 319,285
      -  Treasury stock at cost -7,284 -7,316 -7,327 -7,340 -7,359
    Valuation and translation adjustments: 48,830 42,645 38,105 58,975 67,433
      -  Unrealized gain on other securities 47,665 43,974 44,606 55,761 51,649
      -  Deferred gain on hedges 88 -280 -231 322 507
      -  Foreign currency transaction adjustment 1,572 368 -3,545 1,539 14,169
      -  Remeasurements of defined benefit plans -496 -1,417 -2,724 1,351 1,107
Minority interests in consolidated subsidiaries 4,237 4,802 3,078 3,415 5,894
Total net assets 366,546 392,061 406,002 461,254 523,729
Total liabilities and net assets 914,744 952,659 996,827 1,051,952 1,117,112

Income Statement / Statement of Comprehensive Income

Consolidated Statements of Income

(Billions of yen)

(Millions of yen)
YEARS ENDED MARCH 31 2018/3 2019/3 2020/3 2021/3 2022/3
    Net sales 893,451 914,915 900,604 875,927 910,226
    Cost of sales 661,824 679,876 680,067 654,661 657,789
      -  Gross profit 231,627 235,038 220,536 221,266 252,436
      -  Ratio to net sales (%) 25.9 25.7 24.5 25.3 27.7
    Selling, general and administration 175,665 175,066 178,020 172,670 177,601
      -  Operating income (loss) 55,962 59,972 42,515 48,595 74,835
      -  Ratio to net sales (%) 6.3 6.6 4.7 5.5 8.2
    Non-operating income 4,664 5,991 5,505 5,951 7,329
      -  Interest and dividends received 2,503 3,122 2,830 2,955 2,885
      -  Other 2,160 2,868 2,674 2,995 4,444
    Non-operating expenses 4,579 2,483 3,507 4,146 2,867
      -  Interest expense 1,621 1,377 1,405 1,441 1,744
      -  Other 2,957 1,106 2,102 2,704 1,122
      -  Ordinary income (loss) 56,047 63,479 44,513 50,401 79,297
      -  Ratio to net sales (%) 6.3 6.9 4.9 5.8 8.7
    Extraordinary income 1,900 2,451 2,771 41,145 10,538
    Extraordinary loss 1,142 3,643 3,423 28,262 1,349
      -  Income before income taxes 56,805 62,287 43,860 63,284 88,487
      -  Income taxes and business tax (%) 6.4 6.8 4.9 7.2 9.7
    Income taxes and business tax 13,738 16,051 12,488 21,423 21,846
    Deferred income taxes 1,064 1,165 -499 -3,481 2,085
    Income before minority interests 42,001 45,070 31,871 45,342 64,555
    Profit attributable to non-controlling interests 4,237 4,802 3,078 3,415 5,894
      -    Profit (loss) attributable to owners of parent 37,763 40,267 28,793 41,926 58,660
      -  Ratio to net sales (%) 4.2 4.4 3.2 4.8 6.4

Consolidated Statements of Comprehensive Income

(Millions of yen)
YEARS ENDED MARCH 31 2018/3 2019/3 2020/3 2021/3 2022/3
Income before minority interests 42,001 45,070 31,871 45,342 64,555
Other comprehensive income (loss) Valuation differences on available-for-sale securities 5,093 -3,782 608 11,400 -4,222
Deferred gains or loss on hedges 1,688 -369 49 553 185
Foreign currency translation adjustments 1,597 -1,359 -4,574 5,935 13,985
Remeasurements of defined benefit plans net of tax 2,301 -1,106 -1,531 4,419 -37
Share of other comprehensive income (loss) of associates accounted for using equity method 171 201 402 -215 20
Total other comprehensive loss 10,852 -6,416 -5,046 22,094 9,930
Comprehensive income (loss) 52,854 38,653 26,825 67,437 74,485
Comprehensive income (loss) Attributable to: Comprehensive income attributable to owners of parent 47,997 34,082 24,254 62,796 67,118
Comprehensive income attributable to non-controlling interests 4,856 4,570 2,570 4,640 7,367

Cash Flows

Consolidated Statements of Cash Flows

(Billions of yen)

(Millions of yen)
YEARS ENDED MARCH 31 2018/3 2019/3 2020/3 2021/3 2022/3
Cash flows from operating activities:
    Income (loss) before income taxes 56,805 62,287 43,860 63,284 88,487
    Depreciation and amortization 30,151 30,906 32,319 36,194 39,969
    Interest and dividends income -2,503 -3,122 -2,830 -2,955 -2,885
    Interest expense 1,621 1,377 1,405 1,441 1,744
    (Increase) decrease in trade receivables -16,633 -21,949 12,127 -20,852 -749
    (Increase) decrease in inventories -6,933 -26,937 -11,873 7,513 -5,707
    Increase (decrease) in trade payables 18,645 12,410 -15,159 -15,881 -2,623
    Increase (decrease) in advances received 3,487 -3,129 1,557 -12,185 9,339
    Other, net 4,017 13,636 -171 -20,796 -26,744
Subtotal 88,657 65,479 61,235 35,762 100,829
    Interest and dividends received 2,507 3,142 2,830 2,959 2,847
    Interest paid -1,652 -1,412 -1,396 -1,416 -1,738
    Income taxes paid -36,365 -12,260 -16,582 -10,374 -25,129
Net cash provided by (used in) operating activities 53,146 54,949 46,087 26,931 76,809
Cash flows from investing activities:
    Purchase of fixed assets and marketable and investment securities -14,642 -16,571 -23,338 -20,607 -34,957
    Proceeds from sale of fixed assets and marketable and investment securities 3,381 1,954 9,698 49,852 21,171
    Other, net -3,290 -6,830 -13,981 -5,767 -8,564
Net cash provided by (used in) investing activities -14,550 -21,448 -27,621 23,477 -22,350
Free cash flows 38,596 33,501 18,466 50,408 54,458
Cash flows from financing activities:
    Increase (decrease) in short-term borrowings, net -4,570 -10,680 -2,296 -2,678 -3,592
    Increase (decrease) in commercial paper, net - 8,000 43,500 -51,500 -
    Proceeds from long-term debt 12,060 13,044 30,126 62,165 -
    Repayments of long-term debt and redemption of bonds -30,559 -22,068 -26,663 -17,156 -4,405
    Other, net -23,819 -26,470 -27,748 -30,350 -34,896
Net cash provided by (used in) financing activities -46,887 -38,174 16,917 -39,520 -42,894
Effect of exchange rate changes on cash and cash equivalents -374 338 -772 680 4,453
Net increase (decrease) in cash and cash equivalents -8,664 -4,333 34,611 11,569 16,017
Cash and cash equivalents at beginning of year 41,886 33,329 29,134 63,746 75,332
Cash and cash equivalents of resulting from changes of consolidated subsidiaries 108 138 - 16 -
Cash and cash equivalents of resulting from
mergers with non-consolidated subsidiaries
- - - - -
Cash and cash equivalents at end of year 33,329 29,134 63,746 75,332 91,350

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