| Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
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Profit (loss) before income taxes | 348 | 561 | 776 | 1,213 | 1,409 | 1,813 |
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Depreciation | 465 | 491 | 536 | 570 | 640 | 667 |
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Increase (decrease) in allowance for doubtful accounts | -1 | - | -2 | - | 2 | 2 |
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Increase (decrease) in retirement benefit liability | - | -1 | - | - | 4 | 4 |
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Interest and dividend income | -3 | -3 | -4 | -4 | -5 | -5 |
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Subsidy income | - | - | - | - | -55 | -11 |
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Interest expenses | 50 | 40 | 34 | 30 | 27 | 26 |
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Commission for syndicated loans | - | - | - | - | 31 | 4 |
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Loss (gain) on sale of non-current assets | -6 | -8 | -9 | -6 | -13 | 3 |
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Loss on retirement of non-current assets | - | - | - | - | - | - |
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Loss (gain) on sale of investment securities | - | - | - | - | -20 | - |
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Decrease (increase) in trade receivables | -327 | -189 | -447 | -73 | -347 | -421 |
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Increase (decrease) in trade payables | 286 | 259 | 178 | 243 | -203 | 178 |
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Other, net | 26 | 281 | 98 | -44 | 203 | 209 |
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Subtotal | 842 | 1,447 | 1,204 | 1,928 | 1,673 | 2,470 |
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Interest and dividends received | 3 | 3 | 4 | 4 | 5 | 5 |
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Interest paid | -51 | -40 | -33 | -32 | -27 | -24 |
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Income taxes paid | -91 | -187 | -101 | -359 | -381 | -552 |
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Net cash provided by (used in) operating activities | 703 | 1,222 | 1,074 | 1,540 | 1,269 | 1,899 |
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Payments into time deposits | -19 | -13 | -11 | -11 | -11 | -11 |
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Proceeds from withdrawal of time deposits | 13 | 15 | 18 | - | - | 10 |
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Purchase of property, plant and equipment | -903 | -251 | -68 | -1,233 | -618 | -1,494 |
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Proceeds from sale of property, plant and equipment | 8 | 42 | 10 | 8 | 18 | 9 |
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Purchase of intangible assets | -51 | -9 | -12 | -18 | -4 | -1 |
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Purchase of investment securities | -1 | -2 | -2 | -1 | -22 | -6 |
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Proceeds from sale of investment securities | - | - | - | - | 34 | - |
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Subsidies received | - | - | - | - | 55 | 11 |
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Other, net | 2 | -83 | - | 21 | 23 | -115 |
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Net cash provided by (used in) investing activities | -941 | -301 | -65 | -1,234 | -524 | -1,598 |
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Net increase (decrease) in short-term borrowings | - | 130 | 20 | -150 | 1,000 | 1,600 |
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Repayments of long-term borrowings | -1,455 | -2,109 | -1,434 | -1,538 | -1,427 | -955 |
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Repayments of finance lease liabilities | -324 | -270 | -304 | -321 | -351 | -331 |
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Redemption of bonds | -93 | -14 | -14 | -14 | -7 | - |
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Proceeds from issuance of shares resulting from exercise of share acquisition rights | 22 | 22 | - | 43 | 31 | 26 |
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Purchase of treasury shares | - | - | - | - | - | - |
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Commission for syndicated loans | - | - | - | - | -31 | -4 |
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Dividends paid | -42 | -43 | -45 | -113 | -133 | -152 |
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Dividends paid to non-controlling interests | -2 | -11 | -11 | -21 | -21 | -21 |
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Net cash provided by (used in) financing activities | -295 | -766 | 732 | -802 | -940 | 161 |
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Net increase (decrease) in cash and cash equivalents | -533 | 154 | 1,741 | -496 | -195 | 462 |
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